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ARGOSY GAMING ISSUES STATEMENT ON ALTON BELLE CASINO II

 ALTON, Ill., July 16 /PRNewswire/ -- Argosy Gaming Co. (NASDAQ: ARGY) announced today that although the Alton Belle Casino II is continuing to operate during the flooding, they are experiencing a decline in average daily attendance. During June, the first full month of operation for the Alton Bell Casino II, the daily average attendance was 4,130 passengers. For the period from July 1 to July 14 the daily average attendance was 3,141 passengers. However, for the period of July 11 through July 14 the daily average attendance was 1,841 passengers. Extensive efforts have been made to remain operational, including sandbagging of high water areas, opening additional offsite parking, extending passenger boarding ramps, and protecting electrical and communication lines.
 The flooding has resulted in a loss of the normal customer parking area for the past 11 days. The company has opened employee parking areas and expanded shuttle service for their patrons.
 Along with a decline in the daily average attendance the company has experienced an increase in operating and marketing expenses during the flooding.
 In an effort to offset the increased expenses and reduction in passenger traffic all corporate, and union/non-union clerical staff will be cut back to a maximum of a four-day work week. The company expects to cut payroll a minimum of 20 percent during this natural disaster period, and is monitoring all other expenses for possible elimination or deferment to a later date.
 According to the Army Corps of Engineers and the National Weather Service, the Mississippi River is expected to crest in the Alton area on Monday, July 19.
 -0- 7/16/93
 /CONTACT: G. Dan Marshall of Argosy Gaming, 618-474-7666/
 (ARGY)


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

TM-LG -- NY051 -- 2608 07/16/93 16:03 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
Words:296
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