BILOXI, Miss., April 22 /PRNewswire-FirstCall/ -- Isle of Capri Black Hawk L.L.C. ("Isle Black Hawk"), a joint venture between Isle of Capri Casinos, Inc. (NASDAQ:ISLE) and Nevada Gold & Casinos, Inc. (AMEX:UWN) , announced today that the partnership completed the acquisition of the Colorado Central Station Casino and Colorado Grande Casino from International Game Technology, Inc. (NYSE:IGT) .

The $84 million acquisition consists of the Colorado Central Station Casino, located in Black Hawk and Colorado Grande Casino in Cripple Creek, Co. Isle Black Hawk plans to invest approximately $75 million in the Black Hawk property. This investment is planned to add approximately 1,200 covered parking spaces; 15,000 square feet of casino space; 160 hotel rooms; a full- service restaurant; and a skywalk to connect both properties.

The proximity of the Central Station and Isle Black Hawk will create a synergistic gaming complex with the connecting skywalk extending across Main Street. The properties are located on opposite sides of the street. The new hotel and parking facility will be located on Central Station's current surface parking, across the street from both properties.

Isle Black Hawk also announced that, in connection with the acquisition, it entered into a $210,654,000 senior secured credit facility with CIBC World Markets, as lead arranger, administrative agent and lender, along with certain other lenders. The new senior secured credit facility represents an amendment and restatement of Isle Black Hawk's existing senior secured credit facility, which closed in November 2001. In addition to providing financing for the acquisition of the new Colorado casinos, the new credit facility includes financing for the proposed expansion of the Black Hawk properties. CIBC World Markets also acted as exclusive financial advisor to Isle Black Hawk.

Bernard Goldstein, chairman and chief executive officer of Isle of Capri Casinos, Inc., said, "The acquisition of Colorado Central Station will create a great opportunity for the growth of our company in the viable Black Hawk market. The prime location of these properties creates significant marketing possibilities, as they are among the first casinos players reach when entering Black Hawk." Goldstein continued, "The joining of these two properties will further develop operational efficiencies as well as bring the best aspects of both brands to the customer."

Isle of Capri Casinos, Inc. president and chief operating officer John M. Gallaway, stated, "We have been a long-term leader in the Black Hawk market, and with this acquisition, and the extensive improvements and expansions we have planned, we will further secure our position. We are excited about welcoming the Central Station and Colorado Grande staff members to the Isle family."

H. Thomas Winn, chairman, president and chief executive officer of Nevada Gold and Casinos, Inc. said, "We are extremely excited about the growth plan for Isle of Capri Black Hawk. These acquisitions confirm our commitment to the Colorado market and we look forward to increasing our presence through this venture."

The company expects to complete the expansion project by summer 2005.

Isle of Capri Black Hawk is the largest hotel casino in Colorado and is jointly owned by Isle of Capri Casinos and Nevada Gold & Casinos, which own 57 percent and 43 percent, respectively. Pursuant to a management agreement, Isle of Capri Casinos receives a fee for operating Isle of Capri Black Hawk. Isle of Capri Casinos will also manage the new casino operations on the same terms and conditions.

Isle of Capri Casinos, Inc. owns and operates 15 riverboat, dockside and land-based casinos at 14 locations, including Biloxi, Vicksburg, Lula and Natchez, Mississippi; Bossier City and Lake Charles (two riverboats), Louisiana; Black Hawk (two land-based casinos) and Cripple Creek, Colorado; Bettendorf, Davenport and Marquette, Iowa; and Kansas City and Boonville, Missouri. The company also operates Pompano Park Harness Racing Track in Pompano Beach, Florida.

Nevada Gold & Casinos, Inc. of Houston, Texas is a developer of gaming properties and has real estate interests in Colorado, California, and Nevada. UWN owns a 43 percent interest in The Isle of Capri-Black Hawk L.L.C., which has a 237-room hotel/casino located about 35 miles west of Denver, through a joint venture with Isle of Capri Casinos, Inc. UWN has 69 percent ownership of Dry Creek Casino, LLC, which is assisting the Dry Creek Rancheria Band of Pomo Indians with their River Rock Casino, Alexander Valley -- in Sonoma County (about 70 miles north of San Francisco in the California wine country). Also, Nevada Gold has a 51% ownership of Route 66 Casinos, LLC, which is assisting the Pueblo of Laguna in the development of a Route 66-themed casino 11 miles west of Albuquerque, New Mexico -- planned for opening in 2003.

This press release may be deemed to contain forward-looking statements, which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors, including without limitation, licensing, and other regulatory approvals, financing sources, development and construction activities, costs and delays, weather, permits, competition and business conditions in the gaming industry. The forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein.

Additional information concerning potential factors that could affect the company's financial condition, results of operations and expansion projects, is included in the filings of the Isle of Capri Casinos, Inc. and Nevada Gold and Casinos, Inc. with the Securities and Exchange Commission.