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ARGOSY GAMING COMPANY RECEIVES FINAL APPROVAL TO BE EXCLUSIVE DEVELOPER

 ALTON, Ill., June 4 /PRNewswire/ -- Argosy Gaming Company (NASDAQ: ARGY), operators of the Alton Belle Casino II, the first riverboat gambling casino in Illinois, announced today that after receiving the unanimous recommendation of the Steering Committee on May 25, the Missouri Gaming Company, a wholly owned subsidiary of Argosy Gaming Company, has received final approval from the board of Alderman of Riverside, Mo. and has entered into an agreement with the city of Riverside to be the exclusive developer and operator of a 24-hour riverboat casino on the Missouri River in Riverside, approximately two miles from downtown Kansas City.
 The agreement is contingent upon the company obtaining a gaming license in Missouri.
 Under the terms of the agreement, Argosy will advance $1 million to the city of Riverside for park improvements and additionally plans to construct a par-3 nine-hole executive golf course for the city at the park site adjacent to the riverboat location.
 Argosy plans to construct a 100,000 square foot casino and support facility to accommodate 1,400 passengers and crew. The three-level "Riverside Belle Casino" will have between 30,000 and 35,000 square feet of gaming space and will include approximately 1,000 slot machines and 321 table game positions.
 The company is preparing to apply for a gaming license from the Missouri Gaming Commission.
 Although gaming legislation has been adopted in the state of Missouri, there is no assurance that the company's subsidiary will be granted a license.
 -0- 6/4/93
 /CONTACT: G. Dan Marshall of Argosy Gaming Company, 618-474-7666/
 (ARGY)


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

PS-OS -- NY013 -- 5345 06/04/93 09:38 EDT
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Publication:PR Newswire
Date:Jun 4, 1993
Words:277
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