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LONE STAR CASINO CORPORATION ANNOUNCES LAS VEGAS JOINT VENTURE

 HOUSTON, July 8 /PRNewswire/ -- Lone Star Casino Corporation (NASDAQ: LONE) today announced that it has reached an agreement with Aspen Marine Group Inc., (NASDAQ: AMGI) purchaser of the Chaparral Hotel in Las Vegas, to form a joint venture which will own and operate the casino in the Chaparral. Lone Star will be the managing partner of the joint venture.
 Robert L. Kelley, vice president of operations of Lone Star stated: "We are very pleased that Aspen Marine chose us to manage the 63,000 square foot casino in their 310 room hotel. With our operation in Central City, Colorado and the two major projects we now have underway in Mississippi, this Las Vegas opportunity will fill our plate for this year. When Alabama and Texas are ready to approve gaming, we will be well positioned to take advantage of those new market growth opportunities."
 Mr. Kelley also said, "The new Chaparral Hotel Casino will be in a market segment which has shown itself to be consistently profitable in the Las Vegas gaming arena. We feel that this casino will make a significant contribution to our bottom line."
 Mr. Kelley has over twenty-five years of casino management experience in Las Vegas, including the jobs of vice president of casino operations at the Las Vegas Hilton and the same position at the Las Vegas Tropicana.
 Plans call for the Chaparral Casino to open by the end of this year.
 Lone Star currently owns the majority interest in Papone's Palace Casino in Central City, Colo., which the Denver Post has dubbed "The Most Elegant Place In The State." Subject to the approval of permits and licenses, the company plans to open its two Mississippi establishments during the first and second quarters of next year. One site is to be situated on the historic Biloxi beach front on which Lone Star will build a complex consisting of a 300 room hotel, a restaurant, and a 60,000 square foot casino. The other Mississippi site is strategically located on Bay St. Louis and easily accessible for traffic on Interstate 10, the major California-Florida transcontinental superhighway. On this property, the company intends to build an 18-hole golf course; a hotel with conference facilities; a four-star restaurant, and an 80,000 square foot casino.
 For investor relations information, please contact Lone Star Casino Corporation, 600 Travis Street, Suite 6868, Houston, Texas 77002; 713-228-4633, Attention: Holly Vaughan.
 -0- 7/8/93
 /CONTACT: Holly Vaughan of Lone Star Casino Corporation, 713-228-4633/
 (LONE AMGI)


CO: Lone Star Casino Corporation; Aspen Marine Group Inc. ST: Texas, Nevada IN: CNO SU: JVN

LG-OS -- NY018 -- 9392 07/08/93 09:45 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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