All-American Sportpark Announces Second Quarter Results.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Aug. 14, 2000

All-American SportPark, Inc. (Nasdaq:AASP) reported revenues for the second quarter of 2000 of $1,637,495, a decrease of 4.1% from $1,706,928 in the second quarter of 1999. Although revenues from the Company's Callaway Golf Center property increased 12.3% to $590,246 in the second quarter of 2000 compared to the same period in 1999, revenues from the Company's SportPark property declined 11.7% to $1,037,180 in the second quarter of 2000 compared to the same period in 1999. The decline at the SportPark is due mainly to: (1) limited advertising in the fourth quarter of 1999 and first quarter of 2000 due to cash flow constraints, and (2) fewer operating days in 2000 compared to 1999. Effective January 10, 2000, based on the recommendation of the SportPark's industry consultants, the SportPark closed to the general public Monday through Wednesday. Monday through Wednesday is now reserved for group sales and special events.

Revenues for the six months ended June 30, 2000 and 1999 were $3,200,891 and $3,151,918, respectively. Revenues for the Callaway Golf Center were up 22.6% in the first six months of 2000 compared to 1999, while revenues for the SportPark were down 8.8%.

Net loss for the second quarter of 2000 was $723,162 or $0.23 per share, a 31.6% decrease from the net loss of $1,057,957 or $0.35 per share recorded in the second quarter of 1999. Net loss for the six months ended June 30, 2000 was $1,615,248 or $0.52 per share, a 15.7% decrease from the 1999 net loss of $1,916,612 or $0.64 per share. The Company has had success in reducing operating costs and corporate overhead by 20%-25% which is a major contributing factor to the decreases in the net losses in 2000 compared to 1999.

Ron Boreta, President of the Company, stated: "We are generally pleased with the trend of operating results we have achieved. The Callaway Golf Center's continued increases in profitability coupled with the Company's aggressive cost containment strategies have contributed greatly towards our goal of eventually generating net profits for the Company. Although top line results for the SportPark are relatively flat compared to the prior year, it is because of a lack of capital resources available to the Company for most of the past year. We are very focused on resolving the outstanding issues related to the SportPark; this may include the sale of all or a portion of the ownership in this asset. Successful execution of this strategy would enable the Company to focus all of its energies on profitable business opportunities."

All-American SportPark, Inc. is owned approximately two-thirds by Sports Entertainment Enterprises, Inc. (OTCBB:SPEN).

The Company and its subsidiaries are the 100% owners and operators of the All-American SportPark, a family and sport-oriented action theme park, and the Callaway Golf Center, located on 65 acres on the south end of the Las Vegas "Strip" in Las Vegas, Nevada. Sport and entertainment major attractions located in the All-American SportPark include Major League Baseball Slugger Stadium, NASCAR SpeedPark and Pepsi's All Sport Arena.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. Important factors, which could cause actual results to differ materially from those in the forward-looking statements, are detailed in filings with the United States Securities and Exchange Commission made from time to time by AASP, including its annual report on Form 10-KSB for the year ended December 31, 1999 and its quarterly report on Form 10-QSB for the quarter ended June 30, 2000. AASP undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

ALL-AMERICAN SPORTPARK, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999


                            Quarter Ended         Six Months Ended
                               June 30                 June 30
                          2000        1999        2000        1999

Revenues               1,637,495   1,706,928   3,200,891   3,151,918
Cost of Revenues         287,560     460,999     643,957     751,563
Gross profit           1,349,935   1,245,929   2,556,934   2,400,355
Operating expenses     1,696,676   1,927,180   3,413,551   3,594,102
Operating loss          (346,741)   (681,251)   (856,617) (1,193,747)
Other income
 (expense)              (376,421)   (376,706)   (758,631)   (722,865)
Provision (benefit)
 for income taxes           --          --          --          --
Net loss                (723,162) (1,057,957) (1,615,248) (1,916,612)

NET LOSS PER SHARE:
  Basic and Diluted:
   Net loss per share $    (0.23) $    (0.35) $    (0.52) $    (0.64)