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LAS VEGAS ENTERTAINMENT NETWORK (LVEN) ADVANCES $10.5 MILLION TOWARD OCT. 20 CLOSING FOR EL RANCHO HOTEL AND CASINO ACQUISITION

 Will Reopen As Family Resort -- `El Rancho's Countryland U.S.A.'
 LAS VEGAS, Oct. 11 /PRNewswire/ -- Las Vegas Entertainment Network Inc. (NASDAQ: LVEN) announced today advances of $10.5 million toward the Oct. 20, 1993, closing date for its acquisition of the El Rancho Hotel and Casino, one of the original Las Vegas casinos. It will be reopened in 1994 as "El Rancho's Countryland U.S.A.," by LVEN, a gaming and entertainment media company.
 Harry Wald, former president and chief operating officer of Caesars Palace, has been chosen to direct the redevelopment of the property, and will work closely with LVEN's gaming division.
 The new "El Rancho's Countryland U.S.A." will also mean a dramatic change in the Las Vegas skyline -- plans are to build two new multistory towers that will resemble a gigantic pair of dressed-up Western-style boots 20 stories high and will house 1,000 new rooms on the 22-acre facility.
 "It will create a uniquely identifiable silhouette on the Las Vegas skyline and, when the remodeling is complete, will bring `El Rancho's Countryland U.S.A.' accommodations up to 2,001," says LVEN spokesman Byron Lasky.
 But the architecture is not the only dramatic change.
 The new "El Rancho's Countryland U.S.A." will become a full-time family resort destination, with a family-oriented theme park featuring country-style entertainment and family attractions.
 "We will draw from LVEN's management and co-Chairman Joseph A. Corazzi's experience in creating Country Music Television (CMT), the first all-country, all-music satellite-delivered programming service, to bring this new, fun, country theme park environment to Las Vegas," adds Lasky.
 The first El Rancho was developed in 1942, one of the first casinos to be built in Las Vegas, standing, at the time, almost alone on what would become the famous -- and crowded Las Vegas Strip. It quickly became one of the city's best-known symbols for gaming and hospitality, attracting the major stars of the day, including Dean Martin and Jerry Lewis, Nat King Cole, Sophie Tucker, Sammy Davis Jr., Jackie Gleason, Milton Berle and others. The original hotel was destroyed by fire in 1960. The present structure, rebuilt in 1982, is some 300 yards away from the original site.
 A press conference will be scheduled shortly to outline further details pertaining to the intended operation of "El Rancho's Countryland U.S.A."
 -0- 10/11/93
 /CONTACT: Jay Goldberg, investor relations, 800-544-6640/
 (LVEN)


CO: Las Vegas Entertainment Network Inc. ST: Nevada IN: CNO LEI SU: TNM

EH-JB -- SD002 -- 0633 10/11/93 11:04 EDT
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Publication:PR Newswire
Date:Oct 11, 1993
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