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Chukchansi Economic Development Authority and Cascade Entertainment Group, LLC report construction progress on Chukchansi Gold Resort & Casino.

Business Editors

COARSEGOLD, Calif.--(BUSINESS WIRE)--Dec. 6, 2002

Chukchansi Economic Development Authority and Cascade Entertainment Group, LLC reported today on the construction progress of the Chukchansi Gold Resort & Casino. As of November 30, Walton Construction (Construction Managers to the project) has contracted out a large portion of the electrical work and has made significant progress in negotiating other major subcontracts. During the month of November, the site work contractor, Kiewit Pacific, continued to reshape the Coarsegold landscape and completed the Casino and Hotel pads and is continuing work on the remaining pads for the Casino parking lots, the RV parking lot, and the wastewater treatment plant. The future access road to the Resort Complex, "Buck Run Road" is substantially graded and work continues on the underpass at Road 417. The Kiewit Pacific concrete division has commenced work, with more than 5,000 cubic yards of concrete poured into foundations, basement walls, retaining walls, and structural columns during the month of November. Concurrent with the concrete work, progress was made in the installation of under slab utilities in the Casino and Hotel pads. The structural steel for this project began fabrication in November and erection of the first structural steel columns is scheduled for mid-December. "We continue to believe that the casino is on schedule to be open to the public by June 25, 2003 and the hotel is on schedule to be open to the public by August 22, 2003," said Russell Pratt, President of Cascade Entertainment Group, LLC.

Owned by the Chukchansi Economic Development Authority, an enterprise of the Picayune Rancheria of Chukchansi Indians, and developed and managed by Cascade Entertainment Group, Chukchansi Gold Resort and Casino is scheduled to open to the public in the Summer of 2003. As the region's first fully integrated hotel-casino, the facility is expected to feature 1,800 of the latest slot machines, over 40 table games, 7 individually themed bars and restaurants, a 192-room luxury hotel, an RV park, and live entertainment in two show venues. Located 35 minutes north of Fresno on Highway 41 in the beautiful Sierra foothills, Chukchansi Gold Resort and Casino is being designed as one of central California's premier gaming destinations, providing guests with a distinctive and exciting entertainment experience.

Some of the statements in this press release, as well as oral statements made by Cascade Entertainment Group officials to analysts and investors in the course of presentations about the project and conference calls following quarterly earnings releases, constitute "forward-looking statements" within the meaning of the Private Securities Reform Act of 1995. Such statements may include projections of the construction budget, the anticipated opening date of Chukchansi Gold Resort & Casino, and discussions regarding the anticipated size and amenities of the Chukchansi Gold Resort & Casino. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, but are not limited to: general economic and business conditions; unforeseen construction difficulties; and the effect of applicable gaming laws.

Inquiries should be directed to Kathy Reiner, Chief Financial Officer of Cascade Entertainment Group, LLC at 916/387-6317
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Publication:Business Wire
Date:Dec 6, 2002
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