CIRI’s Casino MonteLago, located at Lake Las Vegas Resort in Nevada, received its final casino licensing from the Nevada Gaming Commission in a 5-0 vote of its members on Thursday, January 23. In June 2002, the Nevada Gaming Commission had approved CIRI’s application for registration as a holding company for its ownership interest in the planned 40,000-square-foot casino. The Gaming Commission unanimously approved the Gaming Control Board’s earlier order setting forth the terms and conditions under which the gaming interest would be held. The order, which was tailored to address the unique features of Alaska Native corporations while preserving the integrity of Nevada’s gaming laws, was lauded by the Commission chair as a model of success and demonstrated the fairness and flexibility of Nevada’s regulatory scheme.

Casino MonteLago

Receiving the final casino license from the Gaming Commission clears the way for CIRI’s Nevada gaming subsidiary and its officers and directors to operate the casino and have direct responsibility.

“This is truly path-breaking to be the first Alaska Native regional corporation licensed to conduct regulatory gaming in Nevada,” said CIRI President and Chief Executive Officer Carl Marrs.

CIRI recruited Dan Reichartz, a former Caesars Palace president, and Dan Scott, a former Caesars Palace and MGM Grand finance specialist, to operate the Casino MonteLago under terms of a contract with CIRI.

The Casino MonteLago is part of a second resort development at Lake Las Vegas, in which CIRI became a partner in 2002. MonteLago Village will include the 349-room Ritz-Carlton hotel, scheduled to open in mid-February 2003, a spa and golf course.

When the Casino MonteLago opens later in 2003, it will offer 15 table games, including black jack tables, two craps and one roulette game; and will open with 675 slot machines and the capacity to expand to 800 slots.

For more information about The Ritz-Carlton, Lake Las Vegas, including amenities, activities, room rates and packages,
visit www.ritzcarlton.com/resorts/lake_las_vegas.

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