MESQUITE, Nev., June 23, 1998 - NevStar Gaming Entertainment Corporation (Nasdaq: NVST) announced today that it received approval from the Nevada Gaming Commission to commence gaming operations at its Mesquite Star Hotel and Casino in Mesquite, Nevada. Additionally, Michael J. Signorelli, Chairman and Chief Executive Officer, Jeffrey L. Gilbert, President and Chief Operating Officer and Richard Tam, Director, were licensed as officers and/or directors of NevStar.
Chairman and CEO Michael Signorelli said, "We are very pleased to receive these final licenses and approvals. It has been a long journey for our company and its shareholders since we first commenced the Mesquite Star project and we are looking forward to opening our beautiful new hotel casino resort on July 1st, 1998." President and COO Jeffrey Gilbert added, "Construction is completed, the interior is finished, all gaming devices are installed, guest rooms are ready and we are definitely ready for business. The Mesquite Star will bring a new level of excitement and gambling fun to the tri-state area of Southern Nevada, Arizona and Utah."
The Mesquite Star has an old west theme with 210 rooms and suites under
the well known Best Western flag. The casino
has 452 slot machines, traditional table games, live Keno, Sports Book
betting, buffet, coffee shop, specialty restaurant, a cocktail lounge and
live entertainment. The property boasts a unique and extraordinary large
electronic message center facing the Interstate. The property is situated
on approximately 26 acres with 3/4 mile frontage along Interstate 15 in
Mesquite, Nevada one hour northeast of Las Vegas. The property is at the
very first Nevada off ramp from the Arizona/Utah border, and the company
expects that its business will come
from the local market, surrounding areas of Nevada, Utah, Arizona, and the Interstate traveler. NevStar is a development stage company formed for the purpose of acquiring, developing, constructing, owning and managing hotel/casino projects.
Certain statements contained in this release are forward looking. Although NevStar Gaming Entertainment Corporation believes that its expectations are based on reasonable assumptions within the bounds of its knowledge, of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For important factors that may cause actual results to differ materially from expectations and underlying assumptions, see Company's prospectus dated September 18th, 1997.