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ARGOSY ASSOCIATES WITH MARDI GRAS WORLD

 ALTON, Ill., May 6 /PRNewswire/ -- Argosy Gaming Company (NASDAQ: ARGY), operators of the Alton Belle Casino, the first riverboat gambling casino in Illinois, announced today that it has signed an agreement to own and operate a riverboat casino at the Mardi Gras World location on the west bank of the Mississippi River directly across from downtown New Orleans.
 The agreement was signed by Argosy as the majority member of South Shore Enterprises, L.L.C., which is composed of two members, Argosy Gaming Company and Lake Ventures, L.L.C. Lake Ventures is composed of two members, Pacific Gulf Marine and Todd B. Johnson. Under the terms of the agreement, South Shore Enterprises, L.L.C. will be the majority shareholder and operator of the riverboat casino at the Mardi Gras World location.
 The other members of the joint venture with South Shore Enterprises, L.L.C. are McDonoughville Enterprises, Inc., a company 100 percent-owned by Blaine Kern Sr., developer and owner of Mardi Gras World, and Stelee Ventures, Inc., a company 100 percent-owned by Steven M. Rittvo and Lee Rittvo.
 Blaine Kern's Mardi Gras World features tours, which take visitors through warehouses holding the multimillion-dollar fleet of Mardi Gras floats and figures. Steven M. Rittvo formed Urban Systems, Inc. in 1974 to provide technical services in the area of transportation planning, traffic engineering, management consulting and related areas.
 The agreement is contingent upon receiving a gaming license from the state of Louisiana.
 Earlier this year, Argosy announced that it filed for a certificate of preliminary approval with the Louisiana Riverboat Gaming Commission for permission to launch a riverboat casino at New Orleans.
 -0- 5/6/93
 /CONTACT: G. Dan Marshall of Argosy Gaming Company, 618-474-7666/
 (ARGY)


CO: Argosy Gaming Company ST: Illinois, Louisiana IN: CNO SU:

CK-OS -- NY043 -- 5310 05/06/93 10:14 EDT
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Publication:PR Newswire
Date:May 6, 1993
Words:306
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