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GRAND CASINOS, INC. ANNOUNCES SIGNING OF COMPACT BETWEEN THE STATE OF LOUISIANA AND THE TUNICA-BILOXI TRIBE

 GRAND CASINOS, INC. ANNOUNCES SIGNING OF COMPACT BETWEEN
 THE STATE OF LOUISIANA AND THE TUNICA-BILOXI TRIBE
 MINNEAPOLIS, Sept. 24 /PRNewswire/ -- Grand Casinos, Inc., which manages two Las Vegas-style casinos on behalf of the Mille Lacs Band of Ojibwe Indians and is in development of a non-Indian owned dockside facility in Gulfport, Miss., today announced the signing of a gaming compact between the Tunica-Biloxi Indian Tribe of Louisiana and the state of Louisiana late Wednesday afternoon.
 Pursuant to the Indian Gaming Regulatory Act (IGRA), the compact governs games which will be permitted on Indian lands within the state and rules under which the games are to be conducted. The Louisiana compact allows all casino games including, but not limited to, slots, blackjack, roulette, craps, poker, keno and baccarat. In addition, the compact provides for granting credit to qualified players.
 The signing of this compact removes a major barrier to the development of Indian gaming in Louisiana and will enable both the Tunica-Biloxi Tribe and Grand Casinos, Inc., to begin development and construction of a gaming facility subject to three conditions. First, the compact must be signed by the Secretary of Interior and published in the Federal Register, a routine process. Second, a parcel of land contiguous to the Tunica-Biloxi reservation must be placed in trust. Third, Grand Casinos, Inc. must become licensed pursuant to the compact's provisions. Neither Grand Casinos management nor the leadership of the Tunica-Biloxi Tribe anticipates any difficulty in meeting these conditions.
 Grand Casinos, Inc. has a Bureau of Indian Affairs approved contract with the Tunica-Biloxi Tribe to develop, construct and manage the casino and will receive 40 percent of distributable profits for a period of seven years beginning the day the casino opens. In addition, the company is repaid, with interest, the funds advanced to the Tunica- Biloxi Tribe to construct the facility. Grand Casinos has a similar contract with the Coushatta Indian Tribe of Louisiana, who signed a similar compact with the state of Louisiana this month.
 Grand Casinos, Inc. develops and manages casino gaming facilities for Indian tribes on Indian land and is currently developing its own gaming facilities which are not located on Indian land. The company's common stock is traded on the NASDAQ National Market System under the symbol GRND.
 For more information on Grand Casinos, Inc. via facsimile at no cost, simply dial 1-800-PRO-INFO and enter the company code number 079.
 -0- 9/24/92
 /CONTACT: Tom Brosig, COO, or James White, CFO, 612-440-9092, both of Grand Casinos; Michael Rosenbaum or Audrey Lowe, 312-266-7800, both of The Financial Relations Board, for Grand Casinos/
 (GRND) CO: Grand Casinos, Inc. ST: Minnesota IN: CNO SU:


AL -- MN003 -- 2971 09/24/92 09:50 EDT
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Publication:PR Newswire
Date:Sep 24, 1992
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