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PRESIDENT RIVERBOAT CASINOS SUBSIDIARY APPEALS LOUISIANA COMMISSION DECISION

 ST. LOUIS, Mo., June 28 /PRNewswire/ -- President Riverboat Casinos, Inc. (NASDAQ: PREZ) today announced that P.R.C.-Louisiana, Inc., a wholly owned subsidiary organized and existing under the laws of the State of Louisiana, today had filed an appeal in 19th Judicial District Court, Parish of East Baton Rouge, against the action taken by the Louisiana Riverboat Gaming Commission on June 18, 1993, in denying it a certificate of preliminary approval to operate a Riverboat Casino from a berth at Thalia Street in New Orleans.
 President said that it took this action because it believes that the Gaming Commission did not follow the required procedures both in issuing certificates of preliminary approval and in limiting the number of certificates to 15.
 P.R.C.-Louisiana, Inc. is seeking several legal remedies from the Court, chief among them a court order directing the Louisiana Riverboat Gaming Commission to reopen the adjudication process and issue certificates of preliminary approval to P.R.C.-Louisiana, Inc. and all other qualified applicants seeking licenses to conduct gaming activities on riverboats in the State of Louisiana.
 In its appeal, P.R.C.-Louisiana stated that, "In view of the substantial time and expenses incurred by our company and other license applicants, fairness and due process require that all license applicants be evaluated and treated equally by the Commission with respect to the issuance of certificates of preliminary approval. The process to be used in the issuance of certificates of preliminary approval is not a comparative analysis of applications. Every applicant who meets the requirements for a certificate of preliminary approval set forth in the rules should get one. The Commission has no authority to deny an applicant a certificate of preliminary approval simply because it would prefer to issue a certificate to another applicant. However, this is precisely the reason why P.R.C.-Louisiana, Inc. did not receive a certificate of preliminary approval from the Commission at the meeting held on June 18, 1993. P.R.C.-Louisiana, Inc. was denied a certificate because the Commission arbitrarily limited the number of certificates it would issue to 15, and because the Commission had a preference for other applicants, not because P.R.C.-Louisiana, Inc. was unqualified."
 According to the company, "The essential point is that a certificate of preliminary approval is not a license and licensing decisions are to be made solely by the Louisiana State Police. Our application met or exceeded the requirements to obtain a certificate of preliminary approval and there was no reason for the Gaming Commission to deny applications which met the requirements," a spokesperson for President Riverboat Casinos, Inc. said.
 "We have a current pending application for a Riverboat gaming license before the Louisiana State Police and intend to actively pursue it. We have faith that the Louisiana State Police will follow the required procedure and that an objective evaluation of our petition will demonstrate the superiority of our application in terms of our proposed operation, readiness, financial capability and riverboat gaming experience," the company spokesman said.
 "It is important that President, as a leader in the riverboat/dockside segment of the gaming industry both protect its rights in the application process and also preserve the intent and integrity of the Louisiana statutory process," concluded the company's spokesperson.
 President Riverboat Casinos, Inc. owns and operates riverboat and dockside gaming facilities in Davenport, Iowa and Biloxi, Miss.
 -0- 6/28/93
 /CONTACT: Ed Ellers, president of Riverboat Casinos, Inc., 319-328-8000/
 (PREZ)


CO: President Riverboat Casinos, Inc. ST: Missouri, Louisiana IN: CNO SU:

TS -- NY068 -- 6385 06/28/93 15:58 EDT
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Date:Jun 28, 1993
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