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Nevada Gold & Casinos Pays Annual Device Fee With Loan From Wells Fargo



Nevada Gold & Casinos Pays Annual Device Fee With Loan From Wells Fargo

Deadwood, South Dakota Slot Route Operation Strengthened

LAS VEGAS, June 28, 2013 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE
MKT:UWN) ("the Company") today announced the Company's wholly-owned
subsidiary, A.G. Trucano, Son & Grandsons, Inc. ("AG Trucano"), which operates
a slot route in Deadwood, South Dakota, entered into a $1.5 million revolving
loan with Wells Fargo Gaming Capital, LLC, an affiliate of Wells Fargo Bank,
N.A. The proceeds from the loan were used for an annual device registration
fee due by AG Trucano to the South Dakota Commission on Gaming ("SDCG"), in
the amount of $2,000 per slot machine. Since the SDCG requires the entire fee
to be paid in advance, AG Trucano has historically financed this obligation
with a short-term loan. The loan from Wells Fargo represents a continuation of
that practice.

The annual device fee expense is shared by the Company and the route location
owners in proportion to their respective revenue share agreements. The Company
traditionally pays the full licensing fee and then is reimbursed by the
location owners. Approximately 40% of the expense is borne by the Company and
the balance is reimbursed.

Nevada Gold also announced that, effective July 1, 2013 the Company's slot
route will operate a total of 811 games. "We are excited to be moving into the
strong summer season in Deadwood with a strongly positioned and efficient
operation," commented Michael Shaunnessy, President and CEO. "We are also
pleased with the support that the Company continues to receive from a lending
institution with the stature of Wells Fargo Gaming Capital."

On June 30, 2013, the Green Door location closed and our agreement terminated
according to its terms. In the year ended April 30, 2013 this location
contributed approximately $109,000 of revenue and $101,000 in expenses. Also
on June 30, 2013, the Company closed the Bourbon Street location which it
leased and operated. In the year ended April 30, 2013, this location generated
approximately $463,000 in revenue and $629,000 in expenses. The incurred
expenses for both locations will be totally eliminated as a result of the
closures. The Company anticipates that a portion of the revenues from these
closed locations will be captured by our other locations in the immediate
vicinity.

About Nevada Gold

Nevada Gold & Casinos, Inc. (NYSE MKT:UWN) of Las Vegas, Nevada is a
developer, owner and operator of 10 gaming operations in Washington
(wagoldcasinos.com) and a slot route operation in Deadwood, South Dakota
(dakotaplayersclub.com). The Company also has a social gaming application on
Facebook – Gold Star Slots, and a gaming license in Nevada. For more
information, visit www.nevadagold.com.

Contacts:  
Nevada Gold & Casinos, Inc.
Michael P. Shaunnessy / James Kohn
(702) 685-1000
 
LHA
Harriet Fried / Jody Burfening
(212) 838-3777
hfried@lhai.com

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