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RUBIDELL RECREATION, INC. ANNOUNCES NAME CHANGE AND FIRST QUARTER FINANCIAL RESULTS

 ELKHORN, Wis., March 1 /PRNewswire/ -- Rubidell Recreation, Inc. (NASDAQ: RBRC) announced that, at its annual meeting of shareholders held on Feb. 17, 1993, the shareholders approved changing the corporation's name to Casino Resource Corporation. Jack Pilger, chairman of the board and chief executive officer, indicated to the shareholders that this change of name would more accurately reflect the direction the corporation is taking. It is the intention of the company to continue to expand the direct marketing subsidiary, Recreational Property Consultants, Inc. That company is now offering its services to the casino industry as well.
 The corporation also announced the results for the first quarter of fiscal 1993 ended Dec. 31, 1992.
 SUMMARY OF EARNINGS
 Quarter Ended
 12/31/92 12/31/91
 Sales $1,327,951 $1,781,685
 Operating profit (loss)
 before income tax (74,977) (105,715)
 Operating profit (loss) (47,977) (67,615)
 Net income (loss) $(47,977) $612,931
 Earnings per share:
 Operations (.01) (.02)
 Net income $(.01) $(.02)
 With respect to the first quarter results, Pilger indicated that, "while there is an improvement over last year's first quarter, our earnings per share do not actually reflect the great strides we have made in securing future earnings growth."
 The company's new wholly owned subsidiary, Casino Entertainment Corporation, is presently in the planning mode for its first entertainment complex in Biloxi, Miss. The complex will be a 1,750 seat show theater next to Grand Casino, Inc.'s new gaming facility. The company's plans include additional theaters as well as strategically placed hotels adjacent to gaming facilities.
 CASINO RESOURCE CORPORATION
 F/K/A Rubidell Recreation, Inc.
 Consolidated Balance Sheets
 ASSETS 12/31/92 9/30/92
 (unaudited) (audited)
 Cash $15,648 $121,131
 Investments, marketable, at cost 77,528 7,625
 Receivables, marketing services 309,021 184,099
 Receivables, other 10,541 303,909
 Inventories and prepaid expenses 308,149 254,432
 -- 720,887 871,196
 Property and equipment,
 net of depreciation 306,483 289,180
 Investment in land, net 16,950 16,950
 Related party receivables 107,735 235,044
 Deposits and other assets 135,242 99,674
 -- $1,287,297 $1,512,044
 LIABILITIES
 Notes and other obligations 155,027 104,816
 Accounts payable 254,119 299,173
 Provision for contingencies 90,000 90,000
 Accrued expenses 329,117 483,243
 Income taxes 5,526 33,326
 -- 833,789 1,010,558
 Stockholders' equity
 Preferred stock 600,000 600,000
 Common stock 37,251 37,251
 Paid in capital 382,622 382,622
 Retained earnings (deficit) (566,365) (518,387)
 -- 453,508 501,486
 -- $1,287,297 $1,512,044
 CASINO RESOURCE CORPORATION
 F/K/A Rubidell Recreation, Inc.
 Consolidated Statements of Operations
 Three Months Ended
 12/31/92 12/31/91
 Income from continuing operations:
 Marketing services revenues $1,327,951 $1,781,685
 Less marketing expenses (1,402,928) (1,887,400)
 Operating profit (loss) before
 provision for income taxes (74,977) (105,715)
 Provision for income taxes 27,000 38,100
 Net income (loss) from continuing
 operations (47,977) (67,615)
 Discontinued operations:
 Loss from operations of
 Harbour Village Resort -- (8,353)
 Loss from sale of receivables -- (1,413,686)
 Gain from sale of Harbour
 Village Resort -- 2,102,585
 -- -- 680,546
 Net income (loss) $(47,977) $612,931
 Earnings (loss) per common
 share on income from
 continuing operations $(0.01) $(0.02)
 On net income (loss) $(0.01) $0.19
 Weighted average shares common stock 3,725,126 3,293,708
 -0- 3/1/93
 /CONTACT: Kris Cummings of Casino Resource, 414-723-6660/
 (RBRC)


CO: Rubidell Recreation, Inc.; Casino Resource Corporation ST: Wisconsin IN: CNO LEI SU: ERN

AL -- MN001 -- 1249 03/01/93 09:10 EST
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Date:Mar 1, 1993
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