Saturday, August 05, 2006

Nevada Gold & Casinos, Inc., today announced that the New York Lottery has
approved a temporary license to operate video gaming machines at Vernon
Downs Racetrack. John Arnesen, President and Chief Operating Officer of
Nevada Gold & Casinos, Inc., said, ``The receipt of this license is another
important step in the redevelopment and expansion of Vernon Downs'
entertainment offerings. We believe the video gaming facility will be a
significant draw for our guests, and as such we are pleased to announce the
advancement of our licensing efforts. We continue to make progress in our
efforts to open Vernon Downs and remain hopeful that we can introduce this
new and greatly improved racing venue and resort to the region in the very
near future.' 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.