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To: James Strauss who wrote (26820)	1/20/1999 2:04:00 PM
From: R. Bond	Respond to of 31646

OT James, In case your wondering where that Social Security money will go in the market, wonder no more: (COMTEX) B: PRESIDENT CASINOS, INC. ANNOUNCES APPROVAL BY THE MISSISSIPPI DEPARTMENT OF Marine Resources of Its Biloxi, Mississippi Resort Development Project ST. LOUIS, Jan. 20 /PRNewswire/ -- President Casinos, Inc. (OTC Bulletin Board: PREZ) announced today that the commissioners of the Mississippi Department of Marine Resources ("DMR") approved the Company's application for development of a full-scale luxury destination resort, "Destination Broadwater," in Biloxi, Mississippi. This approval is the first of three permit approvals required of the Joint Permit Application submitted on August 18, 1998 to the DMR, the U.S. Army Corps of Engineers, and the Mississippi Department of Environmental Quality. The commission voted in accordance with the DMR staff recommendation to approve the permit, setting forth conditions with which President must comply in the design and construction of the project. These conditions are normal and customary for a project of this magnitude. Although final completion of the permitting process requires the approvals by the U.S. Army Corps of Engineers as well as the Mississippi Department of Environmental Quality, the action by the DMR is an essential first step in the acquisition of the required permits. The DMR approval will be forwarded to the U.S. Army Corps of Engineers, which will include the DMR permit approval as part of the Army Corps' permitting process. Mr. John S. Aylsworth, President and Chief Operating Officer stated, "Destination Broadwater is an integrated entertainment resort situated in a village setting surrounded by water. The village will include a cluster of casinos, hotels, restaurants, theaters, and other entertainment attractions. There are significant economies of scale associated with an entertainment clustering of this nature." The statements contained herein include forward-looking statements based on management's current expectations of the Company's future performance. Predictions relating to future performance are inherently uncertain and subject to a number of risks. Consequently, the Company's actual results could differ materially from the expectations expressed in the preceding paragraphs. Factors that could cause the Company's actual results to differ materially from the expected results include, among other things: the need to obtain financing for the project, which has not been obtained; the inherent uncertainty in obtaining government approvals; and the challenges present in identifying and securing agreements with other gaming, hotel and entertainment companies. President Casinos, Inc. owns and operates riverboat and dockside gaming facilities in Davenport, Iowa, Biloxi, Mississippi and downtown St. Louis, Missouri near the base of the Gateway Arch. SOURCE President Casinos, Inc. -0- 01/20/99 /CONTACT: James A. Zweifel, President Casinos, Inc., 314-622-3018/ (PREZ) CO: President Casinos, Inc.; Mississippi Department of Marine Resources ST: Missouri, Mississippi IN: CNO LEI SU: * end of story *