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MAJESTIC ENTERS MISSISSIPPI GAMING MARKET WITH ACQUISITION OF RIVERFRONT PROPERTY

 MINNEAPOLIS, Aug. 31 /PRNewswire/ -- Majestic Development & Management Corporation announced today that it has signed a contract to acquire 10 acres of riverfront property located in downtown Vicksburg, Miss., from Mississippi Riverboat Partnerships, Inc. This property has already been zoned for gaming by the city of Vicksburg and is considered to be the prime riverfront property in Vicksburg. The terms of the agreement were not disclosed.
 On approximately 1200 running feet of riverfront, Majestic's proposed casino will be adjacent to Harrah's new casino presently under construction. On-site parking will accommodate approximately 1200 cars. The agreement also provides Majestic with an additional 14 acres of land 4-1/2 miles from the riverfront casino site that will be used to accommodate employee off-site parking and provide hook-ups for recreational vehicles.
 William Dougall, who recently became executive vice president of Casino Operations for Majestic, will oversee the Vicksburg casino project and live on-site until completion. Dougall, who previously oversaw the construction and management of Del Webb's casino projects in Hawaii, Las Vegas and Atlantic City, sees the Vicksburg project with its 25 acres as a "destination resort development." Plans for attracting a major hotel and restaurant on the site are in progress.
 As past president of Del Webb Hotels and president of the Nevada Resort Association, "William Dougall will provide Majestic with a first- class operation," according to Steve Kline, Majestic's president. "Bill was in charge of and supervised Harrah's Hotel and Casino project in Atlantic City. At the time, he was part owner and eventually sold his percentage of the complex to Harrah's, a subsidiary of Holiday Inn. In 14 months from its inception to completion, Bill supervised the hotel layout, design and casino staffing. I believe Bill's vast experience in this field will bring Majestic's project to completion in the shortest possible time," said Kline.
 Established in June 1992, Majestic Development & Management Corporation was formed to develop and manage gaming facilities in states that allow commercial gaming such as Colorado, South Dakota and Mississippi. The company also intends to work with American Indian Tribes in developing and managing gaming facilities and other economic development projects. The company's common stock is listed on the "Pink Sheets" under the stock symbol MJDM.
 -0- 8/31/93
 /CONTACT: David Neuger 612-333-6621 or (home) 612-699-6730 or Errin Kratochwill, 612-333-6621 or (home) 612-224-2462, both of Edwin Neuger & Assoc., for Majestic Development & Management/


CO: Majestic Development & Management ST: Minnesota, Mississippi IN: CNO SU: TNM

AL-DB -- MN002 -- 7420 08/31/93 10:19 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
Words:415
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