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CASINO AMERICA REPORTS FIRST QUARTER RESULTS, GAMING REVENUES, EXPANSION AND NASDAQ APPROVAL

 CASINO AMERICA REPORTS FIRST QUARTER RESULTS,
 GAMING REVENUES, EXPANSION AND NASDAQ APPROVAL
 BOCA RATON, Fla., Sept. 11 /PRNewswire/ -- Casino America, Inc. (OTC) announced today a net loss for its first quarter ending July 31, 1992 of $1,800,000 or $.31 per share. The company announced that the loss was due primarily to pre-opening expenses, lease and licensing costs incurred in the opening of its Biloxi Mississippi gaming complex. The gaming complex, known as the Isle of Capri Casino, opened for business Aug. 1, 1992.
 The company also announced that its gaming revenue for its first month of operation ended Aug. 31, 1992 at the Isle of Capri Casino was $6,130,000, and noted that the operations were closed for five days due to the threat of Hurricane Andrew which forced the complex to move to safer quarters. No significant evacuation costs were incurred.
 The company further announced that in accordance with its plans to double its gaming facilities, the first phase of the expansion was nearing completion with the addition of 40 slot machines and 12 table games later this week. The expansion is expected to be completed by late October at which time the Isle of Capri Casino will have approximately 1,100 slot machines and 60 table games including blackjack, craps, poker, roulette, pai-gow and mini-baccarat. The company is renovating its land based restaurant and anticipates opening the restaurant in mid-November, 1992.
 In addition, the company expects to sign a letter of intent shortly with respect to a new possible location in Vicksburg, Miss., which approved gaming this week. Any new location would require site and licensing approval by the state of Mississippi and other regulatory authorities.
 Finally, the company said that its securities have been conditionally approved for listing on the NASDAQ Small Cap Market under the symbol "GAME". The company expects that trading of its securities on NASDAQ will commence on Monday, Sept. 14, 1992.
 CASINO AMERICA INC.
 Three Months Ended July 31,
 1992 1991
 Revenue $ 389,000 $ 399,000
 Net Loss (1,800,000) (708,000)
 Loss Per Share $ (.31) $ (.12)
 -0- 9/11/92
 /CONTACT: Bernard Goldstein, chairman, 319-344-5300, or Allan B. Solomon, secretary/treasurer, 407-483-7000, both of Casino America/ CO: Casino America, Inc. ST: Florida IN: CNO SU: ERN


JB-XX -- FL002 -- 8349 09/11/92 09:23 EDT
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Publication:PR Newswire
Date:Sep 11, 1992
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