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EXCALIBUR TUNICA UPDATE

 IRVINE, Calif., July 30 /PRNewswire/ -- Excalibur Holding Corp. (NASDAQ: EXHC) today announced progress in its Tunica, Miss., riverboat joint venture with Las Vegas Entertainment Network Inc. (LVEN). As previously announced, LVEN has purchased two river barges scheduled to arrive at the dockside casino site by Aug. 10. Once fastened together, the barges will create a platform 295 feet long by 105 feet wide, on which a 25,000 to 30,000-square-foot casino will be constructed. As part of the joint venture arrangement, LVEN will convey the barges and Excalibur Holding Corp. will convey its interest in the lease of the site to the joint venture upon its formation.
 The 20-acre dockside casino site is adjacent to the "Splash" dockside casino site, which has operated with substantial financial success since opening in October of 1992. Excalibur Holding and LVEN plan to open the casino for business by year's end, subject to financing and licensing by the Mississippi Gaming Commission.
 Excalibur Holding Corp. also announced its plan to change its name to Winners Entertainment Inc. upon a favorable vote of its shareholders at the company's annual meeting to be held on Aug. 5, at the company's Mountaineer Racetrack & Resort in Chester, W. Va. The company said the name change is intended to reflect its decision to divest its oil and gas holdings and concentrate in the gaming and entertainment industry as well as to avoid any confusion with the Excalibur Hotel and Casino in Las Vegas with which the company is not affiliated.
 -0- 7/30/93
 /CONTACT: Thomas K. Russell, general counsel of Excalibur Holding, 714-222-2220/
 (EXHC)


CO: Excalibur Holding Corp.; Las Vegas Entertainment Network Inc.;
 Winners Entertainment Inc. ST: California; Mississippi IN: CNO SU: JVN


BP -- LA011 -- 7784 07/30/93 13:12 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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