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MONARCH CASINO & RESORT, INC. SUPPLEMENTS ANNOUNCEMENT RE: ENDORSEMENT BY CITY OF GARY, IND., FOR RIVERBOAT OPERATION

 RENO, Nev., Jan. 7 /PRNewswire/ -- Monarch Casino & Resort, Inc. (NASDAQ-NMS: MCRI) ("Monarch") today supplemented its announcement of Thursday, Jan. 6, regarding the proposed Gary, Ind., riverboat development.
 As previously announced, the city of Gary, has agreed to endorse Dunes Marina Resort & Casinos, Inc., a majority-owned subsidiary of Monarch, as one of two co-developers of gaming facilities to be located in Gary, on the banks of Lake Michigan. The development proposal includes a riverboat which will feature a minimum of 1,000 slot machines and 60 gaming tables, along with related landslide improvements which will be jointly constructed with another developer selected by the city of Gary. Dunes Marina Resort & Casinos, Inc., committed to expend at least $109.4 million in connection with the proposal, which includes certain infrastructure and community development expenditures. The development is contingent on obtaining a riverboat gaming license from the Indiana Riverboat Gaming Commission, which the city of Gary has agreed to support. Subject to obtaining the requisite riverboat gaming license, Monarch's goal is to have the proposed riverboat development operational by July 1.
 Gary is located at the southern tip of Lake Michigan, approximately 40 miles southeast of Chicago.
 -0- 1/7/94
 /CONTACT: Ben Farahi of Monarch Casino & Resort, 702-825-3355/
 (MCRI)


CO: Monarch Casino & Resort, Inc.; Dunes Marina Resort & Casinos, Inc. ST: Indiana IN: CNO SU:

BR -- NYON1 -- 0005 01/07/94 01:43 EST
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Publication:PR Newswire
Date:Jan 7, 1994
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