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Tioga Downs has Received Provisional Licenses

HOUSTON, Texas – (PRESS RELEASE) -- Nevada Gold & Casinos, Inc. (AMEX:UWN) today announced that Tioga Downs has received its provisional licenses and will begin racing in mid-June. Nevada Gold & Casinos, Inc., through its subsidiary Nevada Gold NY, Inc., owns a 40% membership interest in American Racing and Entertainment, LLC. American Racing owns 100% of Tioga Downs Racetrack, LLC, which owns the Tioga Downs Racetrack in Nichols, New York.

John Arnesen, President and Chief Operating Officer of Nevada Gold & Casinos, Inc., commented, ``We continue to make excellent progress in getting the full facility up and running. The launch of racing is just the start -- we are also opening the restaurants and other amenities in mid-June. Shortly thereafter we expect to open the VLT machine facility, all of which are installed and waiting for final approvals. We are very pleased with all aspects of the development which will provide our customers with racing, entertainment, great dining, and gaming in a country fair theme with a calendar of continuous entertainment and special events throughout the year.'

Tioga Downs expects to provide the ultimate in racing as a true horseman's race track. Recent press reports regarding the qualifying races that were held at Tioga Downs indicate that trainers and jockeys are impressed:

-- ``I've been to every track in the country and this is the nicest facility I have ever seen,' said jockey Jimmy Cruise, Jr.

-- ``The track is excellent. You can't ask for a better racetrack,' said trainer Robert Becal.

Mr. Arnesen added, ``We are also making great progress on our development and repositioning of the historic Vernon Downs Racing Facility. We expect to open this facility as we complete our renovation this summer. Vernon Downs will offer a variety of food and beverage facilities, a hotel directly with views of the race track from many of the guestrooms, gaming, entertainment, racing, simulcasts and an outstanding calendar of events to inaugurate the rebirth of Vernon Downs.'

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