Reported for July
GARY, Ind., Aug.
6 /PRNewswire/ -- The Majestic Star Casino, LLC (the "Company")
announced that on Monday, August 5, 2002 its riverboat gaming facility located
in Gary, Indiana ("Majestic Star") commenced dockside gaming.
Michael E. Kelly,
Chief Operating Officer, stated that "the Company in July notified the
Indiana Gaming Commission ("IGC") that it had opted for dockside
gaming in accordance with recently passed legislation." Mr. Kelly also stated that "dockside
gaming eliminates the requirement to cruise and will provide our guests with
continual access to the riverboat casino.
The Company believes that the higher wagering taxes enacted in
connection with the recently passed legislation that enables dockside gaming,
should be offset by enhanced revenues as a result of dockside gaming, the newly
2, 000 space parking facility and an increase in the overall number of slot
machines from approximately 1,407 at December 31, 2001 to 1,557 on board the
vessel today available for play."
also reported that for the month of July, it recorded
$11.9 million in gross gaming revenues, a new monthly property record. July revenues increased approximately 13%
and the number of patrons visiting the facility increased approximately 9% over
the same month last year. Mr. Kelly
attributed the increase in revenues to the recently opened 2,000 space parking
facility as well as a comprehensive marketing campaign promoting the property.
Don H. Barden,
Chairman and CEO also stated that "the Majestic Star continues to focus on
guest service as evidenced by recent awards the property has received during
the past few months including, 'Best Overall Northwest Indiana Casino', 'Best
Video Poker', 'Most Knowledgeable and Helpful Employees'."
The Company is a
multi-jurisdictional gaming Company that directly owns and operates one
riverboat gaming facility located in Gary, Indiana known as the Majestic Star
and, pursuant to an acquisition through its unrestricted subsidiary, Majestic
Investor Holdings, LLC, ("Majestic Investor Holdings"), three
Fitzgeralds brand casinos located in Tunica, Mississippi, ("Fitzgeralds
Tunica"), Black Hawk, Colorado ("Fitzgeralds Black Hawk"), and
downtown Las Vegas, Nevada ("Fitzgeralds Las Vegas").
release includes statements that constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended and Section 21E of the Securities Exchange Act of 1934, as
amended, and are subject to the safe harbor provisions of those sections and
the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes,"
"estimates," "plans," "intends,"
"will," "could," or "expects" used in the
Company's press releases and reports filed with the Securities and Exchange
Commission are intended to identify forward-looking statements. All forward-looking statements involve risks
and uncertainties. Although the Company
believes its expectations are based upon reasonable assumptions within the
bounds of its current knowledge of its business and operations, there can be no
assurances that actual results will not materially differ from expected
results. The Company cautions that these
and similar statements included in this press release and in previously filed
periodic reports are further qualified by important factors that could cause
actual results to differ materially from those in the forward-looking
statements. The Company has based these
forward-looking statements on information currently available and disclaims any
intentions or obligation to update or revise any forward-looking
statement. In light of the foregoing,
readers of this release are cautioned not to place undue reliance on the
forward-looking statements contained herein.
additional information should be directed to Michael E. Kelly, Executive Vice
President / Chief Operating Officer / CFO at
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SOURCE Majestic Star
/CONTACT: Michael E. Kelly, Executive Vice
President-Chief Operating Officer-CFO of Majestic Star Casino, LLC, +1-702-388-2240/
/Web site: http://www.majesticstar.com /
CO: Majestic Star