The Sands Regent Announces Purchase of Land for Rail City Expansion

Nov 30, 2005, 00:00 ET from The Sands Regent

    RENO, Nev., Nov. 30 /PRNewswire-FirstCall/ -- The Sands Regent
 (Nasdaq:   SNDS) announced today the purchase of 2.58 acres of land adjacent to
 its Rail City Casino property in Sparks, Nevada, which it had been leasing
 from the State of Nevada.
     Plantation Investments, Inc., a subsidiary of The Sands Regent, signed a
 contract to acquire the land for $901,000.  The Company expects to close
 escrow by the end of December.  The land will be utilized in the expansion of
 the casino and food and beverage operations at Rail City, with plans to expand
 floor space by 23,500 square feet under a preliminary budget of $8.5 million.
 Initially, the property's current 650 slot machines will be increased to 850,
 with ultimate plans for a total of 1,000 games.  Pending completion of the
 permit process with the city of Sparks, management plans to begin a six-month,
 phased construction process in early 2006 which is expected to take six
     Upon close of escrow, the Company expects to record a $421,000 non-cash
 charge to income for the unamortized value of the intangible asset relating to
 the lease from the State of Nevada.
     "We are excited about increasing capacity at Rail City, the most
 profitable and consistent performer in our portfolio of properties," commented
 Ferenc Szony, The Sands Regent's President and CEO.  "We expect the new
 restaurant and bar that we plan to add, featuring a brew pub concept, will be
 very well received and will further enhance Rail City's performance."
     About The Sands Regent
     The Sands Regent owns and operates Rail City Casino in Sparks, Nevada,
 Sands Regency Casino and Hotel in downtown Reno, Nevada, Gold Ranch Casino and
 RV Resort in Verdi, Nevada, and the Depot Casino and Red Hawk Sports Bar in
 Dayton, Nevada.
     Rail City Casino, located in Sparks, Nevada, currently has approximately
 16,600 square feet of gaming space housing slot machines, table games, keno, a
 sports book, and the City Cafi family-style restaurant, with plans to expand
 to expand to 23,000 square feet in 2006 to house additional slot machines and
 add a brew pub restaurant and bar.  Located near Victorian Square at 2121
 Victorian Avenue in Sparks, it is the first casino a motorist encounters when
 exiting Interstate 80 at the Rock Boulevard exit (Exit 16).  Web site:
     The Sands Regency is an 833-room hotel and casino with 29,000 square feet
 of gaming space offering table games, a sports book, poker room, keno, bingo
 and slot machines.  In addition to the amenities and on-site brand name
 restaurants, the Company's property also includes a 12,000 square foot
 convention and meeting center which seats close to 1,000 people.  For further
 information, visit
     The Gold Ranch Casino and RV Resort is located in Verdi, Nevada, twelve
 miles west of Reno.  Gold Ranch offers slot machines in an 8,000 square foot
 casino, a sports book, two restaurants, a 105-space RV park, a California
 lottery station, an ARCO gas station and a convenience store.  Web site:
     The Depot Casino and the Red Hawk Sports Bar, acquired on September 1,
 2005, are located in Dayton, Nevada.  The Depot Casino has approximately
 16,000 square feet of restaurant and casino space with 250 slots, a restaurant
 and two bars.  The Red Hawk Sports Bar, across the street from Depot Casino,
 has 33 slots, a convenience store and a bar.
     This press release contains forward-looking statements within the meaning
 of the Private Securities Litigation Reform Act of 1995.  The forward-looking
 statements contained in this release are based on current expectations and
 entail various risks and uncertainties that could cause actual results to
 differ materially from those suggested in the forward-looking statements.
 Such risks and uncertainties include, among others, the future performance of
 the Company's management team, general economic financial and business
 conditions, overall conditions in the gaming and entertainment industries, our
 ability to successfully integrate the operations of casinos that we acquire
 and realize the expected benefits of these acquisitions, the risk that the
 land purchase and Rail City expansion discussed in this press release may not
 occur in a timely manner or at all, our ability to carry out our development
 plans (including the development plans discussed in this press release) in a
 timely manner and on budget, and other factors discussed in our Annual Report
 on Form 10-K for the year ended June 30, 2005, as well as Forms 10-Q and other
 filings with the Securities and Exchange Commission.  The Sands is providing
 this information as of the date of this release and does not undertake any
 obligation to update any forward-looking statements contained in this document
 as a result of new information, future events or otherwise.
     Ferenc B. Szony, President and Chief Executive Officer
     The Sands Regent
     (775) 348-2210
     Sean Collins, Partner
     CCG Investor Relations
     (310) 477-9800

SOURCE The Sands Regent