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LONG-TERM FINANCING PLAN FOR CASINO ANNOUNCED

Released on April 4, 1996

Joanne Crofford, minister responsible for Saskatchewan Gaming
Corporation (SGC), today announced a plan for structuring the
corporation's long-term financing.

Crofford said that the plan has been designed so that it does not
involve direct expenditure of public funds for casino development, or a
guarantee by the government. It enables SGC to borrow directly through
the private sector and demonstrates the government's confidence in the
corporation's ability to repay its financing commitments through
revenues generated by the casino.

"We are confident that we have designed a sound, straight-forward
process that will allow the corporation the flexibility it requires to
meet its financial needs and at the same time ensure that public funds
are not used," Crofford said. The minister outlined a financing and
ownership structure that will be accomplished through a long-term loan
agreement between SGC and SGC Holdings Inc., a wholly-owned subsidiary
established to hold the casino's capital assets.

Development of Casino Regina was originally co-ordinated through a
holding company, Dominion Casino Projects Inc. (DCPI), at a total cost
of $37 million. These funds were borrowed from the Hong Kong Bank of
Canada and guaranteed by Saskatchewan Gaming Corporation. The
arrangement meant that no public funds were involved in the
construction of the casino. The new arrangement releases SGC from its
commitments under the guarantee and allows the corporation to mortgage
the casino's capital assets.

SGC has exercised its option under the original development agreement
to purchase all outstanding shares of DCPI for $250,000. The company
has been renamed SGC Holdings Inc. and will enter into a lease
agreement with the Saskatchewan Gaming Corporation. The agreement
includes a five-year term for the equipment and a 15-year mortgage on
the land and building. NewCourt Investments Inc., the private sector
brokerage firm included in the original development agreement, has
provided the $37 million long-term financing for the project.

The agreement is a good business decision, based on the best
professional advice available and it is the lowest cost option
available without the direct financial involvement of Saskatchewan
taxpayers, Crofford said. The purchase of DCPI and the long-term
lease/loan agreement will reduce costs by more than $4 million over the
life of the contract.

In accordance with The Crown Corporations Act, the appropriate
documents related to the share purchase will be tabled in the
Legislature during the current session.

Crofford said that SGC remains confident the casino will yield $8
million to $10 million a year in profit to the provincial treasury,
First Nations, Metis and other charitable and community organizations.
She said patron visits to Casino Regina in the first two months of
operation totalled 240,000. At that rate, the total for the year would
be well above the original estimates of one million visits per year.

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For more information, contact:

Ron Stengler
Saskatchewan Gaming Corporation
Regina
Phone: (306) 787-1591

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