Crown Casino announces third quarter results.

DALLAS--(BUSINESS WIRE)--March 19, 1996--Crown Casino Corporation (NASDAQ:DICE), today announced its operating results for the three and nine months ended January 31, 1996.

Revenues from the Company's 50% interest in St. Charles Gaming Company, Inc. ("SCGC") are not consolidated in the Company's results, but rather are accounted for on the equity method. SCGC owns and operates the Isle of Capri riverboat casino in Lake Charles, Louisiana, which commenced operations on July 29, 1995.

The Company reported the following financial information (in thousands, except per share data): -0-

                            Three Months             Nine Months
                          Ended January 31,        Ended January 31,
                         1996          1995       1996          1995
                         ------------------       ------------------
Results of Operations:

 Revenues               $  -          $  -       $  -          $  -

 Net income (loss)      $ (1,528)     $ (5,514)  $  8,489      $(10,061)

 Income (loss) per
  share                 $   (.13)     $   (.54)  $    .70      $  (1.03)

The operating results for the three months ended January 31, 1996 include (i) an after tax loss of approximately $985,000 representing the Company's 50% share of the operating loss of SCGC and (ii) an after tax loss of approximately $405,000 representing the write-off associated with abandoning the proposed acquisition of the Bourbon Street Hotel and Casino. The operating results for the nine months ended January 31, 1996 include (i) a $13.3 million after tax gain on the sale of a 50% interest in SCGC which closed on June 9, 1995, and (ii) $2.5 million of SCGC related costs incurred prior to opening for business on July 29, 1995.

Edward R. McMurphy, President of Crown Casino stated, "Operating results at the Company's 50% owned Lake Charles project are expected to improve in the fourth fiscal quarter ended April 30, 1996 as marketing efforts continue to build SCGC's customer base and revenues. SCGC's earnings before interest, taxes, depreciation and amortization ("EBITDA") has improved from approximately breakeven in the first few months after opening in July 1995, to approximately $1.2 million in February 1996. Furthermore, we are confident that the scheduled opening of SCGC's 90,000 square foot land-based pavilion on April 20, 1996 will have a positive impact on operating results and customer satisfaction."

CONTACT: Crown Casino Corporation, Dallas

Edward R. McMurphy, 214/352-7561