Concorde Gaming Posts Second Quarter Loss for Fiscal 2000.

Business/Technology Editors

RAPID CITY, S.D.--(BUSINESS WIRE)--May 25, 2000

Concorde Gaming Corporation (OTC/BB: CGAM). A diversified gaming firm announced financial results for the second quarter ended March 31, 2000.

Total revenue for the second quarter was $4.5 million, an increase of 8% compared to $4.2 million for the same period a year ago. This increase was primarily due to increased passenger count at the Company's Casino Princesa. Net loss for the quarter was $793,396 or $0.03 per share, compared to a net loss of $391,597 or $0.02 per share, for the same period a year ago.

Total revenue for the six months ended March 31, 2000, rose to $8.7 million, an increase of 20% compared to $7.2 million for the six months ended March 31, 1999. Net loss for the six months ended March 31, 2000 was $1,617,308 or $0.07 per share, compared to a net loss of $1,697,839 or $0.07 per share, for the six months ended March 31, 1999.

"Financial results for the quarter and the six months are in line with our expectations and I am optimistic about our prospects this year," said Jerry Baum, Chairman and Chief Executive Officer of Concorde Gaming. "We now own 100% of the Casino Princesa and as a result the Company will be able to control the operations of the Casino Princesa and we believe that we will be able to increase net income due to increased efficiencies."

While the Company's results from operations continue to be adversely impacted by construction of the parking garage we believe that in the long term the new parking garage will be beneficial. During the first quarter and through January and February customer access to the Company's Golden Gates Casino was severely limited. In late March 2000, customer access from the first and second levels of the parking garage were opened to the casino and customer traffic increased considerably. We anticipate that this trend will continue as the parking garage reaches completion with two more levels due to open before the end of the third quarter.

Concorde Gaming Corporation specializes in the development and management of casinos. The Company has interests in limited stakes gaming at its Golden Gates Casino in Black Hawk, Colorado and day-cruise gaming through it Casino Princesa that cruises out of Miami, Florida.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, changes in gaming regulations and tax rates in Colorado, Florida and other jurisdictions that could impact the Company's operations, changes in economic conditions, declining popularity of gaming, increase levels of competition and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

             CONCORDE GAMING CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF OPERATIONS
               Six Months Ended March 31, 2000 and 1999
                              (UNAUDITED)


                        Three Months Ended      Six Months Ended
                             March 31                March 31
                         2000       1999         2000          1999
Revenues
  Casino               4,220,083  3,991,449 $  8,090,190 $  6,753,343
  Food and beverage      621,542    431,667    1,118,473      743,195
  Other                  586,172    425,727    1,110,245      760,375
            Gross
             revenues  5,427,797  4,848,843   10,318,908    8,256,913
  Less: promotional
         allowance      (852,540)  (610,737)  (1,619,649)  (1,024,303)
            Net
             revenues  4,575,257  4,238,106    8,699,259    7,232,610

Costs and expenses:
  Casino               2,090,571  1,891,442    4,504,443    3,123,150
  Food and beverage      407,994    337,199      724,031      712,971
  Management fees, to
   minority partner,
   related party         120,000     45,000      275,367      135,000
  Selling, general and
   administrative      2,040,009  1,759,886    3,389,212    3,209,525
  Depreciation and
   amortization          255,087    253,749      505,642      508,033
  Pre-opening and
   start-up costs           --         --           --        540,952
                       4,913,661  4,287,276    9,398,695    8,229,631

            Loss from
             operations (338,404)   (49,170)    (699,436)    (997,021)

Other income (expense):
  Interest income          4,708      2,987       19,274       16,967
  Other income           (10,147)    45,310       (5,823)      56,822
  Interest expense and
    financing costs:      --         --
     Related party      (244,245)  (272,101)    (486,414)    (522,790)
     Other              (236,508)  (230,323)    (476,109)    (471,817)
                        (486,192)  (454,127)    (949,072)    (920,818)

          Loss before
           income taxes (824,596)  (503,297)  (1,648,508)  (1,917,839)

Federal and state
 income tax benefit      (31,200)  (111,700)     (31,200)    (220,000)

          Net loss      (793,396)  (391,597)$ (1,617,308)$ (1,697,839)


Basic and diluted
 loss per share:           (0.03)     (0.02)$      (0.07)$      (0.07)

See Notes to Consolidated Financial Statements