Concorde Gaming Announces Opening of Golden Gulch Casino in Black Hawk, Colorado

Business Wire, Feb 26, 2003

Business Editors

RAPID CITY, S.D.--(BUSINESS WIRE)--Feb. 26, 2003

Concorde Gaming Corporation (OTCBB:CGAM) announced the opening of the Golden Gulch Casino on January 29, 2003.

On December 4, 2002, Concorde Gaming Corporation purchased the former Jazz Alley Casino property located in Black Hawk, Colorado through its wholly owned subsidiary, Concorde Blackhawk Corporation, for approximately $1.6 million. After nearly 2 months of renovations and improvements, the Company opened the Golden Gulch Casino on January 29, 2003.

"We believe the opening of our Golden Gulch Casino will enhance our profitability in the upcoming years," commented Jerry Baum, President and CEO of Concorde Gaming. "We plan to take full advantage of the operational efficiencies that exist between the Golden Gates and Gold Gulch Casino's to improve our financial results."

The Golden Gulch Casino opened with 125 gaming devices, with plans of expanding to 240 gaming devices by September 30, 2003.

Concorde Gaming owns and operates three gaming properties with over 600 gaming devices in operation. The Company operates two limited stakes gaming properties, the Golden Gates Casino and Golden Gulch Casino, both in Black Hawk, Colorado, and a day-cruise gaming property, the Casino Princesa based out of Miami, Florida. The Company's corporate offices are located in Rapid City, South Dakota.

Statements contained in this press release, which are not historical facts, are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated, due to a number of factors, which include, but are not limited to, changes in gaming regulations and tax rates in Colorado, Florida, and other jurisdictions, the level and rate of growth in the Company's operations, the Company's ability to continue to increase customer traffic to its properties, the success of the Golden Gulch Casino, the Company's ability to continue to impose strong cost controls, and the effect of the Company's accounting policies and other risk factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.