Concorde Gaming Corporation Deregisters Its Common Stock Effective Today

Business Wire, Jan 27, 2004

Business Editors

RAPID CITY, S.D.--(BUSINESS WIRE)--Jan. 27, 2004

Concorde Gaming Corporation (Pink Sheets:CGAM): Concorde Gaming Corporation today announced that it has filed a Form 15 with the Securities and Exchange Commission (the "SEC") to deregister its common stock under Section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act") and to suspend its reporting obligations under the Exchange Act. The Company believes, but cannot guarantee, that its common stock will continue to be publicly traded "over the counter" and quoted by the Pink Sheets' Electronic Quotation Service (the "Pink Sheets"). The Company intends to continue to report to shareholders and interested public on both an annual and quarterly basis.

The Company's principal reason for deregistering its common stock is the rising cost, both in money and time, of continuing its common stock registration and complying with the increasing and changing requirements attendant to that registration and the belief that these burdens will only increase over the next several years. Recent federal legislation, most notably the Sarbanes-Oxley Act of 2002 and related federal regulations, together with growing accounting and legal costs and time demands on Company personnel to comply have created a particularly difficult situation for small companies like Concorde Gaming. In light of the difficult current economic conditions, the Company's Board of Directors does not believe it is prudent to expend finite financial and executive resources to keep its common stock registered at the expense of the Company's on-going business.

Effective with the filing of the Form 15, the Company will no longer file reports and forms with the SEC and future reports will not be available through the SEC EDGAR system. However, for the foreseeable future on an annual basis the Company intends to provide shareholders, and interested public upon request, by mail with audited financial statements, and the Company intends to continue its practice of providing summaries of financial and business developments by press release.

The Company's common stock is presently quoted by the Pink Sheets (Pink Sheet quotes are available over the internet at http://pinksheets.com as well as through other services). In the past, with only limited exceptions, the Company's common stock has only traded intermittently and at prices well below traditional indices and ratios. The Company believes that deregistering its common stock will not improve this situation, and, while the possibility exists, cannot predict if it will negatively affect trading volume or prices or the number of market makers to any significant degree.

This announcement contains forward looking statements that involve risks and uncertainties, including those relating to the future business performance of the Company, and future markets and future market conditions for trading its common stock. More information about some of the many potential factors that could affect the Company's business and financial results are included in the Company's most recent Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB that are on file with the Securities and Exchange Commission (http://www.sec.gov).