May 6, 2003, Gary, Ind. - The Majestic Star Casino, LLC (the “Company”) and its affiliate, Majestic Investor Holdings, LLC, will hold a conference call on Friday, May 9, 2003 at 10:00 a.m. (Eastern Time) to discuss its First Quarter 2003 financial results. The participant dial-in number is 800-218-9073 and the moderator is Michael E. Kelly. A re-play number will also be available after the conference call, and may be accessed at approximately 1:00 p.m. (Eastern Time) on May 9th through May16, 2003. The number is 800-405-2236; pass code number 537803.

The Company is a multi-jurisdictional gaming company that directly owns and operates one dockside gaming facility located in Gary, Indiana (“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, Black Hawk, Colorado, and downtown Las Vegas, Nevada. Inquiries for additional information should be directed to Michael E. Kelly, Executive Vice President/Chief Operating Officer at 702-388-2240.

This press release may include 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.