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Vernon Downs has Official Grand Opening

Friday, October 27, 2006
HOUSTON -- Nevada Gold & Casinos, Inc. (AMEX:UWN), today announced the grand opening of the new 33,000 square foot gaming facility at Vernon Downs and the completion of the $4,000,000 renovation.
VisitorsVernon Downs Racing is now open!
Vernon Downs Racing is now open!
  are enjoying all the amenities including the 777 video gaming machines. The facility's other entertainment offerings opened in August with a newly renovated grandstand, restaurants, lounges, arcades, entertainment, retail, live racing and simulcasting. Vernon Downs is located in Vernon, New York, near Syracuse.
Mr. Robert B. Sturges, Chief Executive Officer of Nevada Gold, commented, ``I am extremely proud that our operating team was able to successfully open two major race track based gaming operations in less than four months. We are also very appreciative of the cooperation we received from the New York State Lottery in making these openings possible.''
Mr. John Arnesen, President and Chief Operating Officer, stated, ``I want to thank the 8,000 plus visitors we expect today, some of whom began lining up at seven o'clock this morning, three hours before our scheduled opening. We look forward to serving them well and making them loyal long-term guests at our facility.''
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.
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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