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PRESIDENT RIVERBOAT RECEIVES RECOMMENDATION TO OPERATE GAMING FACILITY IN GARY

 ST. LOUIS, Jan. 5 /PRNewswire/ -- President Riverboat Casinos, Inc. (NASDAQ: PREZ) today announced that its PRC-Gary LLC subsidiary has been designated one of two preferred developers to operate riverboat gaming in Gary, Ind.
 The city has agreed to support and recommend PRC-Gary LLC's application for a riverboat gaming license before the Indiana Riverboat Gaming Commission, which has the ultimate authority to grant licenses. This selection by the city is the result of a competition which initially involved over 20 gaming companies.
 PRC-Gary LLC had previously filed the first phase of its state application and intends to file phase two prior to the Feb. 15 deadline. President intends to utilize The New Yorker, a vessel it currently owns, for its operation. The Gary operation is expected to contain 875 slot machines and 55 table games. Pending state licensing, President has announced its intention and ability to be operational in Gary on or before July 1, 1994.
 PRC-Gary LLC is 42.5 percent owned by President, 42.5 percent owned by a company controlled by Don H. Barden, and 15 percent will be offered to citizens of Gary.
 President Riverboat Casinos, Inc., owns and operates riverboat and dockside gaming facilities in Davenport, Iowa, and Biloxi, Miss. The company co-manages with Jackpot Enterprises, Inc., a dockside gaming operation in Tunica, Miss. President has applied for a license to operate dockside gaming facilities in St. Louis. In addition, President has entered into a joint venture to manage gaming operations on an Indian Reservation near Massena, N.Y. The company's proposed operations in St. Louis and Massena are each subject to the receipt of all necessary regulatory approvals and licenses.
 -0- 1/5/94
 /CONTACT: Edward S. Ellers, president of Riverboat Casinos, 314-622-3000/
 (PREZ)


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

GK-TW -- NY063 -- 9452 01/05/94 15:54 EST
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Publication:PR Newswire
Date:Jan 5, 1994
Words:309
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