Lone Star Casino Corp.'s Las Vegas property receives preliminary approval by Clark County Commission

Business Wire, Nov 28, 1994

LAS VEGAS--(BUSINESS WIRE)--Nov. 28, 1994--Lone Star Casino Corp. (NASDAQ: LONE) Monday announced that the Clark County Commission, sitting as the Clark County Liquor and Gaming Licensing Board, has approved the company's application for its property located at 165 East Tropicana Boulevard.

The property will be designated as eligible for a Casino Resort Hotel Gaming License pending completion of investigation and issuance of gaming licenses by the Nevada gaming authorities.

Commenting on the announcement, Roger W. Cope, president and chief operating officer of Lone Star Casino Corp., stated: "The Clark County Commission's decision to make Lone Star's East Tropicana property eligible for a non-restricted gaming license is another significant step toward developing our two proposed Las Vegas gaming facilities.

"Both facilities are uniquely located to be marketed to the local population which we believe has been largely ignored. The company and its officers are currently under investigation for gaming licenses by the Nevada gaming authorities which we hope will be complete in the first quarter of calendar 1995."

Lone Star Casino Corp. owns the majority interest in Papone's Palace Casino in Central City, Colo., 35 miles west of Denver, and has an interest in two properties in Mississippi.

In Las Vegas, Lone Star holds a 60-year leasehold interest in the former Granada Inn Casino located on East Tropicana Boulevard directly across from the new MGM Grand Hotel and Theme Park, and a 55 year lease on a 60,000 square foot casino facility, located directly across from the Las Vegas Convention Center on East Desert Inn Road.

Lone Star has opened the East Tropicana Boulevard property as a restaurant and will move to expand the operation of the property to include a casino with full gaming as soon as it receives the required licenses to operate a casino in Nevada. The company expects to open the Desert Inn Road property by the middle of 1995.

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Note to Editors: This information contained herein was obtained from the Management of Lone Star Casino Corp. and other sources deemed to be reliable. This does not constitute the solicitation of the purchase or sale of securities.

Lippert/Heilshorn & Associates, Inc. is employed by the company as its investor relations firm and the firm or its officers may have a position in the securities of this client company.

CONTACT: Lippert/Heilshorn & Associates

              Jeffrey Volk/Lorin Cohen, 212/838-3777 Ext. 102/123
              Lone Star Casino Corp., Houston
              Roger Cope, 713/225-6800