Concorde Gaming Corporation reports results for the second quarter and six months ended March 31, 1996.

RAPID CITY, S.D.--(BUSINESS WIRE)--May 24, 1996--Concorde Gaming Corporation (OTC: CGAM) today reported results for the second quarter and six months ended March 31, 1996.

Revenues were $2,602,427 for the second quarter of fiscal 1996 compared to $2,849,104 for the comparable quarter of fiscal 1995, a decrease of 8.7%. Net income for the second quarter of fiscal 1996 was $10,592 or $0.00 per share, compared to $276,826 or $0.01 per share, for the same period last year. Second quarter results reflect the impact of harsh winter weather which affected operations at the 4 Bears Casino & Lodge.

For the six months ended March 31, 1996, the Company reported revenues of $5,603,125 compared to $4,220,950 for the comparable six months of fiscal 1995, an increase of 32.7%. Net income for six months ended March 31, 1996 was $156,157 or $0.01 per share, compared to $93,102 or $0.00 per share, for the same period last year, an increase of 67.7%. Revenues and net income were higher than reported a year ago partially as a result of the impact of the state wide shutdown of video lottery in South Dakota during the first quarter of fiscal 1995, said Jerry L. Baum, President.

Baum concluded, "We remain committed to our strategy of increasing the efficiencies of our operations and reducing our outstanding debt. Over the past six months, the Company has reduced its outstanding debt from $7,599,714 to $6,291,429. The strengthening of our financial statements will allow us to aggressively pursue acquisitions, including the proposed riverboat casino located near Lexington, Missouri.

Concorde Gaming Corporation owns and operates a video lottery route in South Dakota. The Company also manages the 4 Bears Casino & Lodge located on the Fort Berthold Reservation in North Dakota, pursuant to a seven-year management agreement with the Three Affiliated Tribes. -0-

              CONCORDE GAMING CORPORATION AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
           Three Months Ended March 31, 1996 and 1995, and
               Six Months Ended March 31, 1996 and 1995
                            (unaudited)

                       Three Months Ended      Six Months Ended
                    March 31, 1996 and 1995  March 31, 1996 and 1995
                    -----------------------  -----------------------
                           1996     1995       1996        1995
                        --------- --------    --------    -------
Revenues:
 Video lottery         $2,172,860 $2,281,006  $4,643,656 $3,163,989
 Management agreement     391,143    561,753     914,553  1,048,361
 Other                     38,424      6,345      44,916      8,600
                       ---------- ----------  ---------- ----------
                       $2,602,427 $2,849,104  $5,603,125 $4,220,950
                       ---------- ----------  ---------- ----------

Costs and expenses:
 Video lottery state
  share                $1,081,389 $  935,696  $2,307,847 $1,157,477
 Video lottery location
  share                   681,861    835,822   1,497,411  1,300,874
 Compensation expenses    241,928    182,916     437,890    318,485
 Business development
  costs                    22,345     14,409      36,286     69,082
 Operating expenses       489,529    316,894     922,933    681,242
                       ---------- ----------  ---------- ---------
   Total costs and
    expenses           $2,517,052 $2,285,737  $5,202,367 $3,527,160
                       ---------- ----------  ---------- ----------

Operating income       $   85,375 $  563,367  $  400,758 $  693,790
                       ---------- ----------  ---------- ----------

Other income (expense):
 Interest income       $  153,858 $  163,874  $  293,361 $  302,666
 Loss on sale of
  equipment                (6,274)    (1,301)     (6,731)   (49,826)
 Other income               1,662     25,000       2,883     50,824
 Interest expense and
  financing costs        (219,079)  (318,909)   (446,314)  (852,347)
                       ----------- ----------  ---------- ----------
                       $  (69,833) $(131,336)  $(156,801) $(548,683)
                       ----------- ----------  ---------- ----------

Earnings before income
 taxes                 $   15,542  $ 432,031   $ 243,957  $ 145,107

Federal and state
 income taxes          $    4,950  $ 155,205   $  87,800  $  52,005
                       ----------  ---------   ---------  ---------

Net earnings           $   10,592  $ 276,826   $ 156,157  $  93,102
                       =========== ==========  =========  ==========

Net earnings per
 common and common
 equivalent share           $0.00      $0.01       $0.01      $0.00
                       =========== ==========  ==========  =========

Weighted average number
 of common and common
 equivalent shares
 outstanding           21,938,246 21,936,085  21,958,489  22,009,276
                       ========== ==========  ==========  ==========

CONTACT: Jerry Baum, President and COO or

David L. Crabb, CFO, 605/341-7738