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Showboat Marina Casino Riverboat awarded conditional license in East Chicago, Indiana.

EAST CHICAGO, Indiana--(BUSINESS WIRE)--APRIL 15, 1997

- Anticipated opening April 18, 1997-

Showboat Marina Casino Partnership and Showboat, Inc. (NYSE:SBO) announced today that the Indiana Gaming Commission has issued a license conditioned upon completion of a preview cruise and back of the house reporting processes. Successful completion of the regulatory inspections will result in the issuance of a gaming license thereby permitting the opening of the casino to the public possibly as early as Friday, April 18, 1997.

The East Chicago Showboat consists of a cruising state-of- the-art gaming vessel, a 105,000 square foot pavilion, an 1,800 space parking garage, and 1,200 surface parking spaces. The project features 53,000 square feet of gaming area, 90 table games and over 1,760 slot machines. The enclosed parking garage is connected directly to the pavilion for the comfort and convenience of patrons and will permit easy access to the 386 foot long gaming vessel. The location of the gaming vessel has excellent access from Indiana State Highway 912, a six-lane divided highway that connects to Interstate Highways 90 and 80/94.

"The awarding of the license is the the last step necessary to bring a whole new gaming experience to the residents of Northwest Indiana and the greater Chicago metropolitan market," said Keith Wallace, President and CEO of Showboat Marina Casino Partnership. "Our focus from this point forward will be to provide an outstanding gaming experience for our patrons, a superior working environment for our employees and an excellent relationship with the State of Indiana, the City of East Chicago and the other communities with whom we interact."

"This is an exciting day for Showboat, Inc." stated J. Kell Houssels III, President and CEO of Showboat, Inc. "We look forward to the East Chicago, Indiana operation to setting the new standard of excellence for gaming in this market. We are extremely pleased with the combined efforts of our East Chicago management team, our partners, and the City of East Chicago, which enabled us to bring the project in ahead of schedule and on budget."

Showboat, Inc., through its subsidiaries, beneficially owns 55% of Showboat Marina Casino Partnership; Waterfront Entertainment and Development, Inc., an Indiana company owned primarily by Indiana businessmen, beneficially owns the remaining partnership interests. Showboat, Inc., through its subsidiaries, owns and operates casino hotels in Las Vegas, Nevada, and Atlantic City, New Jersey. It manages and is the largest shareholder of the Sydney Harbour Casino in Sydney, New South Wales, Australia.

CONTACT: Investor Relations:

The Foristall Company, Inc.

130 Water Street, Suite 4M

New York, New York 10005

Thomas F. Curtin

212-797-4646

or

Company:

H. Gregory Nasky

Executive Vice President

Showboat, Inc.

702-650-1200

or

Joseph O'Brien

Vice President - Finance

& Administration

Showboat Marina Casino Partnership

219-378-3010
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Publication:Business Wire
Date:Apr 15, 1997
Words:461
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