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Non-Tech : Lake City Gaming: LCG-V -- Ignore unavailable to you. Want to Upgrade?

To: cash money who wrote (93)	3/20/1999 5:55:00 PM
From: Jerrold Annett	Read Replies (1) \| Respond to of 124

From the Stockhouse......Pianoman LCG website links the site map lakecitycasinos.com company profile lakecitycasinos.com « Since 1992, Lake City Casinos has operated casinos in the interior of British Columbia. With locations in Kamloops, Vernon, and Kelowna, a fourth casino is projected for Penticton in December 1999. Catch the energy and excitement in one our premier destination Casinos located in the finest full service hotel and resort facilities available. Among the amenities, you may encounter Lady Luck in any of our following locales: Lake City Casinos, Kamloops, BC On Victoria Street, just off Highway #1, our Casino is located in the heart of Kamloops, among downtown shopping and the business district. Amidst 14,500 square feet of Victorian ambience, this Casino offers 275 slots and 12 tables for your entertainment pleasure. Lake City Casinos, Vernon, BC Located in the Village Green Hotel on 27th Street, and on the way to Silver Star Ski Resort, you can discover the Wild West in our Vernon Casino. Come join the action in our 12,500 square foot southwestern atmosphere, which boasts 177 slot machines and 12 gaming tables for your amusement. Lake City Casinos, Kelowna, BC Upon completion of expansion in May, 1999, our new Casino is located beside the prestigious Grand Okanagan Lakefront Hotel and Conference Centre, right on the sandy beaches of Okanagan Lake. Having created a truly unique cruise-ship décor, Kelowna's only escalator will glide out of the turquoise water, carrying visitors into the 'ships promenade deck'. The 'cruiseliners' 21,000 square foot gaming area will offer 300 slot machines and 20 gaming tables for your indulgence. Lake City Casinos, Penticton, BC (Proposed) We are proud to introduce our newest destination casino project as an addition to the Penticton Lakeside Resort and Conference Centre. With a breathtaking southern view of Okanagan Lake beachfront, you'll be thrilled with the fun and excitement of a visit to our unique Caribbean setting. In December 1999, our 16,500 square foot Caribbean-theme Casino will be offering you 250 slot machines and 12-16 gaming tables of playing action. The Company currently operates 607 slot machines and 44 gaming tables. With the expansion of Kelowna and the proposed expansion of Penticton, we will reach 1,002 slot machines and 64 gaming tables. There are 430 team members employed with Lake City Casinos and we have expectations of raising that number to 650 by the millennium. Future Growth Opportunities Management is committed to future expansion within the gaming industry, with BC leading the focus for expansion. Factors include proximity to existing operations, profitability, rate of return, access to qualified employees, significance of project to existing operations, and dilution to shareholders. The Company is eager to pursue additional expansion and acquisition projects. *Lake City Casinos is a service provider for BC Lottery Corporation, who is appointed by the Provincial government to conduct and manage gaming in the Province

To: cash money who wrote (93)	3/20/1999 6:07:00 PM
From: Jerrold Annett	Respond to of 124

Hey Cash, Great to see that you are keeping up the chat. The Penticton approval process go held up due to the Glen Clark scandal. But as far as I know it has strong municipal support and Mike Farnsworth (NDP Gaming Minister etc, etc) is in strong support of the casino as well. The Municipal Government is waiting for papers from the NDP so that they can give the Casino one final passing.......after this the ground will be broken the next day. We all have to be patient with this one.....LCG has tons of $$$$$$$$ so they can proceed with a Plan B to keep up it's extraordinary growth (i.e. I know of the Prince George Casino availability for sale and a couple more Casinos in Alberta). A buy like this would mean instant revenues for the Company......but the downside is that they would have to pay a "Good-will" fee of probably $10 million to each Casino.....so new licenses is what the Company is looking for as part of their Plan A. I don't think there will be too many changes to the new licenses in BC........did you see how much the projected BC deficit will be this year.....over $500 million. The Government needs to expand Gaming in the Province badly. The Resource industry is suffering and doesn't look like it will rebound any time soon......so where else can the Government get badly needed revenues........Gaming will certainly help as it has with the other Canadian Provinces. Just my 2 cents. Good Luck. Jerrold