GARY, Ind., Sept. 22 /PRNewswire/ -- Majestic Investor Holdings, LLC (the
"Company") and Majestic Investor Capital Corp. ("Capital" and together with
the Company, the "Issuer") today announced that it has amended the terms of
its offer to purchase (the "Offer") and consent solicitation (the "Consent
Solicitation") for its 11.653% Senior Secured Notes due 2007 (the "Notes") as
follows:

     -- The Total Consideration has been increased to $1,090.00 per $1,000
        principal amount of the Notes.

     -- The Consent Payment has been increased to $30.00 per $1,000 principal
        amount of Notes.

     -- The Purchase Price remains unchanged at $1,060.00 per $1,000 principal
        amount of Notes.

     -- The Consent Date has been extended to 5:00 p.m., New York City time,
        on Thursday, September 25, 2003.

     -- The Expiration Date has been extended to 5:00 p.m., New York City
        time, on Monday, October 6, 2003.

    As of 5:00 p.m., New York City time, on Monday, September 22, 2003,
$56,385,000 of the aggregate outstanding principal amount of Notes had been
tendered in the Offer and Consent Solicitation.
    The complete terms and conditions of the Offer and Consent Solicitation
are set forth in the Offer to Purchase and Consent Solicitation Statement
dated August 26, 2003 (the "Statement") and the related Letter of Transmittal,
as amended by the Supplement to the Statement dated September 18, 2003 and
this announcement (collectively, the "Amended Offer Documents").
    This announcement is not an offer to purchase, a solicitation of an offer
to purchase, or a solicitation of consents with respect to the Notes.  The
Offer and Consent Solicitation are made solely pursuant to the terms and
subject to the conditions set forth in the Amended Offer Documents.  The
Amended Offer Documents should be read carefully before any decision is made
with respect to the Offer and Consent Solicitation.

    About The Majestic Star Casino, LLC and Majestic Investor Holdings, LLC
    The Majestic Star Casino, LLC is a multi-jurisdictional gaming company
that directly owns and operates one dockside gaming facility located in Gary,
Indiana and, pursuant to a 2001 acquisition through its unrestricted
subsidiary, Majestic Investor Holdings, LLC, owns and operates three
Fitzgeralds brand casinos located in Tunica, Mississippi, Black Hawk, Colorado
and downtown Las Vegas, Nevada.  For more information about us, please visit
our web sites at http://www.majesticstar.com or http://www.fitzgeralds.com.
    The Majestic Star Casino, LLC and Majestic Investor Holdings, LLC make
available free of charge their annual reports on Form 10-K, quarterly reports
on Form 10-Q, current reports on Form 8-K and all amendments to those reports
as soon as reasonably practicable after such material is electronically filed
with or furnished to the Securities and Exchange Commission.  You may obtain a
copy of such filings at http://www.sec.gov or from our applicable websites.

    Forward-Looking Statements
    This press 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
"believes," "anticipates," "estimates," "plans," "intends," "expects," "will"
or "could" used in our 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 we
believe our expectations are based upon reasonable assumptions within the
bounds of our current knowledge of our business and operations, there can be
no assurances that actual results will not materially differ from expected
results.  We caution 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.  Such factors include, without
limitation: the availability and adequacy of our cash flow to meet our
requirements; our substantial indebtedness, debt service requirements and
liquidity constraints; changes or developments in laws, regulations or taxes
in the gaming industry, including increases in or new taxes imposed on gaming
revenues and gaming devices; economic, demographic, business and other
conditions in our local and regional markets; increased competition in
existing markets or the opening of new gaming jurisdictions; competition in
the gaming industry, including the availability and success of alternative
gaming venues and other entertainment attractions; actions taken or omitted to
be taken by third parties, including our manager as well as legislative,
regulatory, judicial and other governmental authorities; a decline in the
public acceptance of gaming; changes in personnel or compensation, including
federal minimum wage requirements, or loss and/or retirement of key employees;
finding of unsuitability by regulatory authorities with respect to us or our
officers or key employees; our failure to obtain, delays in obtaining or the
loss of any licenses, permits or approvals, including gaming and liquor
licenses, or the limitation, conditioning, suspension or revocation of any
such licenses, permits or approvals, or our failure to obtain an unconditional
renewal of any such licenses, permits or approvals on a timely basis; the loss
of any of our casino facilities due to casualty, weather, mechanical failure
or any extended or extraordinary maintenance or inspection that may be
required; other adverse conditions, such as adverse economic conditions,
changes in general customer confidence or spending, increased transportation
costs, travel concerns or weather-related factors, that may adversely affect
the economy in general and/or the casino industry in particular; significant
increases in fuel or transportation prices; changes in our business strategy,
capital improvements or development plans; the ability to fund capital
improvements and development needs from existing operations and from new
financing; adverse results of significant litigation matters; and factors
relating to the current state of world affairs and any further acts of
terrorism or any other destabilizing events in the United States or elsewhere.
    For more information on these and other factors, see our most recently
filed Form 10-K.  We caution readers not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.  All
subsequent written and oral forward-looking statements attributable to us are
expressly qualified in their entirety by the cautionary statements and factors
that may affect future results contained throughout this press release.  We
undertake no obligation to publicly release any revisions to such
forward-looking statements to reflect events or circumstances after the date
hereof.


		

SOURCE Majestic Investor Holdings, LLC