The construction of the Sands Events Plaza, which is scheduled for completion before the busy summer season begins, will allow the Company to offer expanded special events services. The Sands Regent will use this facility to host a variety of citywide events such as car shows, concerts, festivals, farmers markets, and host of other outdoor events.

"We decided to build the Sands Events Plaza at this time because we feel there is a void to be filled in downtown Reno. With the construction of Silver Legacy's new Convention Pavilion on the site of the former Eldorado/Silver Legacy Plaza, Reno has lost an important outdoor venue in its downtown core. Reno's local residents, as well as our tourists will now be able to enjoy the venues which we will offer at the Sands Events Plaza located between Third and Fourth Street on Arlington Avenue, in downtown Reno," commented Sands president Mr. Ferenc B. Szony."

Several older buildings, including a portion of the Sands' courtyard motel, will be razed to make way for the plaza. When not being used for special events, the site will provide well lit surface parking for Sands Regency guests. "With our increased visibility and popularity in the local Reno market we have a need for expanded surface parking," added Mr. Szony.

Creation of the Sands Events Plaza is the latest in series of expansions and upgrades made at The Sands Regent. Other improvements recently completed include the addition of a new comedy club, "Just for Laughs," addition of a new Sports Book, the remodeling of a brand-name restaurant on the site, Tony Roma's, renovations of hotel and casino entrances, as well as upgrading of existing parking areas.

The Sands Regent owns and operates the Sands Regency Hotel and Casino in downtown Reno, Nevada. The Sands Regency is a 1,000 room hotel and casino with 27,000 square feet of gaming space offering table games, keno and slot machines. In addition to complete amenities and on-site brand-name restaurants, the Company's property also includes a 12,000 square foot convention and meeting center which seats close to 1000 people.

Statements contained in this release, which are not historical facts, are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected or implied in the forward-looking statements.