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GRAND CASINOS ANNOUNCES THE SIGNING OF AGREEMENTS WITH THE TEMECULA BAND OF LUISENO INDIANS

 MINNEAPOLIS, July 22 /PRNewswire/ -- Grand Casinos, Inc. (NASDAQ-NMS: GRND) announced today that it has entered into agreements to develop, construct, finance and manage a gaming enterprise near Temecula, Calif., for the Temecula Band of Luiseno Indians also known as the Pechanga Band of Mission Indians, which will own the enterprise. Temecula is located approximately 55 miles from both Los Angeles and San Diego off Interstate Highway 15.
 Stan Taube, executive vice president of Grand Casinos, said, "The proposed project will include a 60,000-square-foot gaming facility limited to high stakes bingo, pulltabs, poker, Asian and other card games and other amenities. Casino style gaming is not permitted under current California law. The Temecula Band will need to negotiate a compact with the state of California in order to permit casino style gaming. If a compact that permits casino style gaming is obtained, the company's agreements with the Temecula Band provide that the project shall be expanded. Grand Casinos would continue to manage the facility."
 Under the seven-year agreement, Grand Casinos will receive 40 percent of the net distributable profits of the gaming enterprise as a management fee, of which 20 percent (25 percent if casino style gaming is permitted) of such management fee is payable to an unrelated third party.
 Grand Casinos has agreed to fund or arrange financing of up to $15 million to develop the proposed facility, and is obligated to fund or arrange financing of up to an additional $18 million if the Temecula Band negotiates a compact with the state of California.
 Grand Casinos develops and manages casino gaming facilities in emerging gaming markets on both Indian and company-owned sites. Grand Casinos, Inc., is traded on the NASDAQ National Market System under the symbol GRND.
 For more information on Grand Casinos via facsimile at no cost, simply dial 1-800-PRO-INFO and enter company code 079.
 -0- 7/22/93
 /CONTACT: Tom Brosig, president, of Grand Casinos, 612-449-9092;


or Michael Rosenbaum of FRB Chicago, 312-266-7800; or Sue Caulton of FRB San Francisco, 415-986-1591/
 (GRND)


CO: Grand Casinos, Inc. ST: Minnesota IN: CNO SU:

KH -- MN016 -- 4591 07/22/93 13:21 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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Casino deal reached.

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