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GRAND CASINOS REGISTERS ADDITIONAL SHARES

 MINNEAPOLIS, April 26 /PRNewswire/ -- Grand Casinos, Inc. (NASDAQ-NMS: GRND) announced today that it has filed an amendment to its registration statement that increases the number of shares of common stock offered by certain selling shareholders by 275,000 shares. These shares are issuable upon exercise of warrants held by the co-managing underwriters of the company's May 1992 public offering. The company's registration statement previously included 264,000 shares of the company's common stock issuable upon the exercise of warrants held by the underwriter of the company's initial public offering in October 1991. The company will not receive any of the proceeds from the sale of the 539,000 shares by the selling shareholders, but will receive approximately $6 million upon exercise of the underwriters' warrants.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Grand Casinos, Inc. develops and manages casino gaming facilities for Indian tribes on Indian lands and is currently developing its first company-owned gaming facilities, which are located on the Gulf Coast of Mississippi.
 For more information on Grand Casinos via facsimile at no cost, simply dial 1-800-PRO-INFO and enter company code 079.
 -0- 4/26/93
 /CONTACT: Tom Brosig, chief operating officer of Grand Casinos, 612-449-9092; Michael Rosenbaum, 312-266-7800, or Sue Caulton, 415-986-1591, both of the Financial Relations Board/
 (GRND)


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

AL -- MN006 -- 0814 04/26/93 14:44 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
Words:320
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