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GAMING CORPORATION OF AMERICA ANNOUNCES OCTOBER 22 OPENING DATE FOR NEW HO-CHUNK GOLDEN NICKEL CASINO NEAR WISCONSIN DELLS

 MINNEAPOLIS, Oct. 12 /PRNewswire/ -- Gaming Corporation of America (NASDAQ: GCAM, GCAMW, GCAMU) (GCA) announced that the Wisconsin Winnebago Tribe's new Ho-Chunk Golden Nickel Casino near Wisconsin Dells, Wis., is scheduled to open Friday, Oct. 22, 1993. The new $20 million casino, constructed with consulting and financing assistance from Gaming Corporation's affiliate, Golden Nickel Casinos, Inc. (GNC), totals 86,000 square feet, dwarfing the existing 18,000 square foot facility. The new casino will employ more than 900 people and offer more than 1,200 slot machines and 48 blackjack tables, more than four times the number of machines and two times the number of tables currently available at the existing facility.
 Pursuant to GNC's five-year Casino Agreement with the Tribe, GNC provides management consulting services to the Tribe with respect to the new casino and receives approximately 30 percent of the casino's net profits. GCA has an agreement to acquire GNC as a wholly owned subsidiary upon receipt of all necessary regulatory approvals.
 Sheldon Fleck, CEO and President of Gaming Corporation of America and also Chief Financial Officer of GNC, stated, "The new casino, representing the largest and most luxurious casino in Wisconsin, marks the successful culmination of a major joint development effort by GNC and the Wisconsin Winnebago Nation. We are very pleased."
 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. In addition to the Ho-Chunk Golden Nickel Casino project between Golden Nickel Casinos, Inc. and the Wisconsin Winnebago Tribe, GCA is pursuing National Indian Gaming Commission approval of its contract with the Pascua Yaqui Tribe of Arizona, has a license application pending for a casino project under construction in Biloxi, Miss., and has acquired land for development and operation of a casino project in Bay St. Louis, Miss. Also, GCA is participating with Grand Casinos, Inc. in a joint venture which has acquired a gaming site and 2,000 acres of adjoining land approximately 18 miles south of Memphis, Tenn., located on Buck Lake in Tunica County, Miss., for the development and operation of dockside casinos on the site and a comprehensive destination resort development on the adjoining land.
 Gaming Corporation of America, 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- 10/12/93
 /CONTACT: Sheldon T. Fleck, CEO and President, Gaming Corporation of America, 612-339-8171/
 (GCAM)


CO: Gaming Corporation of America ST: Minnesota, Wisconsin, Arizona, Mississippi IN: CNO SU:

DB-CP -- MN004 -- 1173 10/12/93 14:14 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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