Nevada Gaming Control Board Recommends Nevada Gold

HOUSTON, Jan. 11, 2012 (GLOBE NEWSWIRE) — Nevada Gold & Casinos, Inc. (NYSE Amex:UWN) today announced that the State of Nevada Gaming Control Board took action at its January 11, 2012 meeting to recommend to the Nevada Gaming Commission that Nevada Gold, its wholly-owned entity, Nevada Gold Speedway, LLC, and its directors and officers, be found suitable to participate in ownership of a gaming operation in Nevada. The recommendation to the Commission for a finding of suitability, and approval of Nevada Gold’s application for registration as a publically traded corporation, as well as approval for William Sherlock, as Chairman of the Board, Robert Sturges, as Chief Executive Officer, and James Kohn, as Chief Financial Officer of the Speedway LLC will be on the Nevada Gaming Commission agenda for its consideration on January 26, 2012.

“We are delighted to have received the recommendation of suitability for gaming from the Nevada Gaming Control Board and appreciate the efforts of the Board in the timely evaluation of our application,” said Robert Sturges, Chief Executive Officer of Nevada Gold. “Our application, and this recommendation, proceeds later this month to the Nevada Gaming Commission for their consideration. We look forward to the final decision of the Commission understanding that if we are found suitable for gaming in Nevada by the Commission, Nevada Gold will be in a position to quickly respond and evaluate opportunities in the future for acquisitions or management contracts in Nevada.”

About Nevada Gold

Nevada Gold & Casinos, Inc. (NYSE Amex:UWN) of Houston, Texas is a developer, owner and operator of 11 gaming facilities in Colorado and Washington. The following properties are wholly owned and operated by Nevada Gold: Colorado Grande Casino in Cripple Creek, Colorado, the Crazy Moose Casinos in Pasco and Mountlake Terrace, Washington, Coyote Bob’s Roadhouse Casino in Kennewick, Washington, the Silver Dollar Casinos in Seatac, Bothell and Renton, Washington, the Club Hollywood Casino located in Shoreline, Washington, the Royal Casino located in Everett, Washington, the Red Dragon Casino in Mountlake Terrace, Washington and the Golden Nugget Casino located in Tukwila, Washington. The Company has an interest in Buena Vista Development Company, LLC which is working with the Buena Vista Rancheria of Me-Wuk Indians on a Native American casino project to be developed in the city of Ione, California. On October 18, 2011, the Company signed an agreement to acquire a slot route operation in Deadwood, South Dakota which is anticipated to close during the first calendar quarter of 2012. On November 23, 2011, the Company signed an agreement to sell the Colorado Grande Casino. Closing of the transaction is expected to take place before the end of the Company’s 2012 fiscal year. For more information, visit www.nevadagold.com

The Nevada Gold & Casinos, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1552

CONTACT: Nevada Gold & Casinos, Inc.          Robert B. Sturges, CEO or Jim Kohn, CFO          (713) 621-2245                    ICR          Don Duffy          (203) 682-8200

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