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GAMING CORPORATION OF AMERICA ANNOUNCES MANAGEMENT CHANGES

 MINNEAPOLIS, April 19 /PRNewswire/ -- Gaming Corporation of America (NASDAQ: GCAM) (GCA) announced today the recent addition to its management staff of Jack Speelman, director of Casino Operations, and Rick Cook, director of Slot Operations, and the resignation of Robert Sabes, GCA's CEO. Sheldon Fleck, president and chief financial officer of the company, will now also serve as CEO. By separate release, GCA also announced today its participation in a joint venture with Grand Casinos, Inc. (NASDAQ-NMS: GRND), to acquire a gaming site 30 miles south of Memphis, Tenn., located in Tunica County, Miss., for the potential development and operation of one or more dockside casinos at that location.
 In highlighting the management changes, GCA noted that Speelman, who will be responsible for the development of operations at all casino enterprises, brings to GCA over 39 years of experience in the gaming industry having held operations positions at several nationally recognized casinos. His prior positions include chief operating officer/general manager of Dunes Hotel Casino, senior vice president- Casino Operations of Showboat Hotel Casino, vice president-Casino Operations of Tropicana Hotel Casino, executive vice president-Casino Operations of Resorts International Hotel Casino, and casino manager of International Hotel Casino, Riviera Hotel Casino and Sierra Hotel Casino.
 Cook will be responsible for overseeing and implementing all slot department programs. Cook has worked in the gaming industry for over 16 years. He has held employment and consulting positions, principally in operations management and technical support, with several casinos, including Trump Castle Casino, Harrah's Hotel and Casinos and Dunes Hotel Casino.
 The company added that, with the recent addition of Speelman and Cook and with prior expansions of GCA's management staff, Sabes' withdrawal from GCA comes at a time when the company is well positioned with its expanded management staff. Fleck, president and chief financial officer of GCA, who will also now serve as the company's CEO and sole director, stated, "We have been adding individuals with considerable experience in the gaming industry to bring more depth and breadth to our management team. We regret Mr. Sabes' departure but believe its timing should not affect our management or the development of our business." According to the company, it also intends to add to its board of directors although it has no candidates to announce at this time.
 The company explained that certain circumstances had arisen involving Sabes' personal business affairs that Sabes and the company determined have created a potential conflict with Sabes' continued involvement with the company. As a consequence, the company and Sabes have agreed that it would be in his best interest and that of the company that Sabes voluntarily withdraw from the company. Accordingly, Sabes has resigned from all positions with GCA and its subsidiaries and related companies and has reached an agreement with the company and Fleck to divest all GCA stock owned by Sabes and trusts for the benefit of his children. To the benefit of GCA, 1.4 million of the approximately 3.4 million shares of GCA stock owned by Sabes and the trusts will be contributed to GCA at no cost to the company. The remaining 2 million unregistered shares will be purchased at this time by Fleck at not more than $9.15 per share, plus interest at 5.45 percent, payable after four years. The company will have the right to purchase these remaining shares from Fleck by assuming Fleck's payment obligation.
 Fleck added, "With the generous cooperation of Mr. Sabes, the financial arrangements with him for his stock divestiture were structured to have only a positive financial impact on the company. The divestiture benefits the company because, at no cost to GCA, approximately 1.4 million fewer shares will now be outstanding and the company has the option to purchase the remaining 2 million unregistered shares."
 Gaming Corporation of America, with principal executive offices in Minneapolis, is pursuing several casino management and development opportunities in the rapidly expanding casino-style gaming industry. These include several opportunities to manage casinos on Indian land and to develop, own and operate dockside casinos. The company currently has license applications pending for casino projects in Biloxi, Miss., and Wisconsin Dells, Wis., and is pursuing National Indian Gaming Commission approval of its contract with the Pascua Yaqui Tribe of Arizona.
 GCA, organized in 1991, completed its initial public offering of securities in February 1993, raising over $23 million. Also, in early March 1993, the holders of the company's Series A Notes converted into common stock all of the $6 million then-outstanding Series A Notes. GCA's common stock, warrants and units are traded on NASDAQ under the symbols GCAM, GCAMW and GCAMU.
 -0- 4/19/93
 /CONTACT: Sheldon T. Fleck of Gaming Corporation of America, 612-339-8171/
 (GCAM)


CO: Gaming Corporation of America ST: Minnesota IN: CNO SU: PER

DS -- MN003 -- 7268 04/19/93 10:15 EDT
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Date:Apr 19, 1993
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