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BOOMTOWN SIGNS AGREEMENTS FOR NEW CASINO PROJECTS IN NEW ORLEANS AND BILOXI

 RENO, Nev., March 29 /PRNewswire/ -- Boomtown Inc. (NASDAQ: BMTN), a casino gaming company based in Reno, has signed separate letters of intent covering land leases with Eric F. Skrmetta, Esq., (representing the Ray Skrmetta family of New Orleans) for the development of two new casinos, one on the back bay of Biloxi, Miss., and the other for a riverboat casino on the Harvey Canal near New Orleans.
 Timothy Parrott, chairman and chief executive officer, said: "We are enthusiastic about the potential of these exciting new projects, as well as our recently announced planned construction of a $60 million hotel/casino resort facility at the southern gateway of Las Vegas. In selecting sites for new projects we consider such criteria as freeway visibility, easy access, close proximity to a major population center or tourist population, space for a themed casino/entertainment complex, ample parking and potential for phased expansion.
 "Along with our current expansion of Boomtown Reno, these new projects provide an excellent foundation for broadening our base into some of the nation's most exciting gaming markets."
 Plans call for the Biloxi dockside casino to be constructed adjacent to a nine-acre site on the back bay one-half mile from Interstate 110, the principal artery linking Interstate 10 and the Biloxi resort area on the Gulf Coast. With excellent visibility from the I-110, the project will be the first casino travelers see after leaving I-10 for the Gulf via I-110. I-10 is a major, coast-to-coast highway and is the main thoroughfare connecting New Orleans and Mobile, Ala.
 The casino will have a minimum of 30,000 square feet of casino space with 1,000 slot machines and 30 table games. The architects will create a striking visual theme for the casino, both interior and exterior, that will reflect the area's rich historic past. The project has been designed for phased expansion, which is possible with the available land and development rights into the bay. Boomtown plans to begin construction as soon as possible and be operational in early 1994.
 In Louisiana, the agreement calls for the development of a riverboat casino, operating from a seven-acre site on the Harvey canal in Jefferson Parrish, eight miles from downtown New Orleans via an elevated six lane, limited access roadway, Highway 90. The site is approximately one-half mile from the highway exit and will have land-based staging, food and entertainment areas that will allow for the mooring of a 210-foot long replica of a 19th century paddle wheel riverboat, including approximately 20,000 square feet of casino space.
 Parrott said: "This site is less than ten minutes from the French Quarter. Access is easy, and parking will be ample. The riverboat casino would cruise the Harvey canal and inland waterway system, and so avoid the flooding and tidal flow problems associated with navigating the Mississippi River itself.
 "The expected cost of the two projects is estimated to be between $35 to $40 million. We are currently in discussion with our investment bankers on the various options available to Boomtown for financing the New Orleans and Biloxi projects."
 These projects are subject to several conditions including completion of definitive agreements and securing the necessary approvals from the various state gaming authorities.
 He concluded: "We believe that the proven Boomtown concept and our seasoned management team, averaging over 15 years of experience in hotel/casino operations, provide a solid basis for expansion into other gaming jurisdictions. We consider location as the key to success in a competitive environment, and we believe that we have secured three excellent sites in Las Vegas, Mississippi and Louisiana.
 "The proliferation of legalized gaming in the United States provides a very favorable environment for Boomtown. We're actively exploring and evaluating additional gaming opportunities in other states and Indian reservations."
 Boomtown Inc., a public company since October 1992, owns and operates a western-themed casino approximately seven miles west of Reno. The facilities include a 29,000-square-foot casino, a 122-room hotel, a 16-acre truck stop, a 203-space full-service recreational vehicle park and other related amenities.
 -0- 3/29/93
 /CONTACT: Timothy Parrott, chairman and CEO of Boomtown, 702-345-8680/
 (BMTN)


CO: Boomtown Inc. ST: Nevada IN: CNO SU:

LS -- LA024 -- 0693 03/29/93 16:40 EST
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Date:Mar 29, 1993
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