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Vernon Downs Opens - Video Machines Coming in October

Friday, September 01, 2006
HOUSTON -- Nevada Gold & Casinos, Inc. (AMEX:UWN) announced today the re-opening of racing at the historic Vernon Downs Racetrack. The grand opening today nearly completes a $4,000,000 renovation,Vernon Downs Racing is now open!
Vernon Downs Racing is now open!
  which will be complete with the addition of video gaming machines scheduled for late October.
John Arnesen, President and Chief Operating Officer of Nevada Gold & Casinos, Inc., commented, ``It is with pleasure that we open our second property in New York, bringing another excellent entertainment choice to the state. In late October we will add the gaming facility, thereby completing our renovation of Vernon Downs. We hope patrons who have visited this historic property in the past will come back to see that while we have added additional amenities, we have maintained the charm and nostalgia of a name synonymous with great entertainment for the past 50 years.''
Nevada Gold & Casinos, Inc., through its subsidiary Nevada Gold NY, Inc., owns a 40% interest in American Racing and Entertainment, LLC. American Racing owns 90% of Vernon Downs Acquisition, LLC, which owns the Vernon Downs Racetrack in Vernon, New York. The other members of American Racing are Southern Tier Acquisitions II, LLC, TrackPower, Inc. and Oneida Entertainment LLC, each holding 20% membership.
Nevada Gold & Casinos Inc.
3040 Post Oak Boulevard
Suite 675
Houston, TX 77056
Phone: (713) 621-2245
Fax: (713) 621-6919
The company owns the Colorado Grande Casino located in Cripple Creek, which consists of a casino with approximately 220 slot machines, a restaurant, and 44 parking spaces. The company also owns River Rock Casino which features 1,600 slot machines, 24 table games, and 2 restaurants. In addition, the company has 51% ownership of Route 66 Casinos.
Vernon Downs
4229 Stuhlman Road
Vernon, NY 13476
Toll Free Phone: 877-88-VERNON
Vernon Downs includes a harness racetrack, a 175 all suite hotel and a 34,000 sq. ft. gaming facility that will offer approximately 1,000 VGM machines.
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