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AMERICAN ENTERPRISES SIGNS TRINIDAD CONTRACT; MANAGEMENT OF SECOND INDIAN CASINO UNDERWAY

 LAS VEGAS, July 27 /PRNewswire/ -- American Enterprises, Inc. (NASDAQ: ACES) announced today that it has signed a five-year contract to manage an Indian bingo and casino facility in Trinidad, California. The agreement formalizes a memorandum of understanding between the company and the Tribe that was previously announced on June 22, 1993.
 Ronald J. Tassinari, president of American Enterprises, said the company will receive 35 percent of the casino's net profits for the duration of the contract. "Some of the initial activities that are being undertaken include establishing a joint management committee and installing a card room that will offer conventional and Asian poker and other non-banking card games. The joint management committee, comprised of Tribal members and company members, will ensure that all casino policies and procedures are agreed upon by an authoritative body with the Rancheria," he said.
 The Trinidad Rancheria is located just south of Redwood National Park, which draws almost two million visitors per year. In 1992, the casino recorded revenues of almost $4.8 million. "The facility has recorded increased revenues over the past three years," Tassinari said. "However, operating expenses have been excessive. Our main priority is to revamp operations in order to see a larger profit fall to the bottom line."
 American Enterprises, Inc., traded in NASDAQ under the symbol ACES, is one of a few companies in the U.S. involved in Indian gaming. Its newest contract with the Cher-Ae Heights Band of Indians at the Trinidad Rancheria, encompasses a 20,000 square foot, high-stakes casino. The company also manages casino, called Table Mountain Rancheria Casino and Bingo, in Friant, California, located 17 miles north of Fresno. The Table Mountain Casino is a 33,000 square-foot facility offering bingo, conventional and Asian poker and other non-banking card games. Table Mountain is currently undergoing an expansion that will increase the facility to approximately 50,000 square feet.
 -0- 7/27/93
 /CONTACT: Ron Tassinari of American Enterprises, Inc., 702-896-8888, or Elizabeth Truax or Sue Caulton, both of The Financial Relations Board, Inc., 415-986-1591, for American Enterprises, Inc./
 (ACES)


CO: American Enterprises, Inc. ST: Nevada IN: CNO SU: CON

TM -- NY006 -- 6082 07/27/93 09:07 EDT
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Date:Jul 27, 1993
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