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BOOMTOWN COMPLETES $90 MILLION MORTGAGE NOTE OFFERING

 RENO, Nev., Nov. 11 /PRNewswire/ -- Boomtown Inc. (NASDAQ: BMTN) today announced the closing of its $90 million First Mortgage Note Offering, plus 472,500 warrants for the company's common stock. The notes, due 2003, have a coupon rate of 11.5 percent. The offering was managed by Oppenheimer & Co. Inc. and Sutro & Co. Inc.
 Timothy Parrott, chairman and chief executive officer, stated: "We're pleased to complete this major financing. The sale of these notes will enable us to complete all of the company's previously announced projects. We look forward to implementing our growth programs and to operating in a number of carefully selected gaming venues in 1994."
 Proceeds will be used to fund Boomtown's multistate expansion program. In addition to the proposed phase-three expansion of Boomtown Reno, new projects include Boomtown Las Vegas, a new casino/resort schedule to open June 1994, Boomtown Biloxi, a dockside casino on Mississippi's Gulf Coast scheduled for May 1994 opening and Boomtown Louisiana, a riverboat scheduled to begin operations near New Orleans in June of 1994.
 Boomtown Inc. currently owns and operates a western-themed hotel, casino and family entertainment center approximately seven miles west of Reno. In addition to its previously mentioned expansion projects, the company also recently signed a letter of intent giving it the option to acquire the management consulting agreement presently held by Empire Consulting Inc. with the San Manuel Bingo Hall and Casino in California's San Bernardino County.
 -0- 11/11/93
 /CONTACT: Timothy Parrott, chairman and chief executive officer, 702-345-8680/
 (BMTN)


CO: Boomtown Inc. ST: California IN: CNO SU: OFR

MF-EH -- LA029 -- 3321 11/11/93 15:07 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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