Olympia Gaming Buys Land for Resort in Sparks, NV

. October 14, 2008

AUGUST 29, 2009. One of Northern Nevada's most highly anticipated resorts will begin construction early next year as executives from Olympia Gaming announced today that they've acquired approximately 14-acres from RED Development for their $800 million Legends Marina Casino-Resort-Spa project.

Having spent the past year designing the lake front site and meeting with community leaders and city officials, Olympia Gaming will begin building a project that will be an integral part of RED Development's 1.2 million square foot Legends at Sparks Marina destination retail, entertainment center. The casino-resort-spa is scheduled to break ground during the first quarter of 2008 and open in late 2009 or early 2010.

"This is a tremendous opportunity for the City of Sparks to hoist its flag as a true destination locale," said Garry Goett, Chairman and CEO of Olympia Gaming. "We've worked hand-in-hand with City Officials and RED Development to design a casino, resort, spa destination that raises the bar significantly for tourism to this region. We are extremely excited to commence with this project."

Rendering of the $800 million Legends Marina Casino-Resort-Spa project

"We will be constructing a spectacular project that local residents will be proud to call their own and will feel is an integral part of their community," said Goett. "From a business standpoint, we look at it as a tremendous opportunity to create new markets for the Reno/Sparks area by developing an unmatched destination resort with numerous attractions including a state-of-the-art casino, a world-class spa, expansive meeting and convention facilities, fine dining restaurants, luxurious rooms and suites, and a lakefront amphitheater," Goett added.

Developed as a part of the master-planned Legends at Sparks Marina outdoor shopping and entertainment destination development at the intersection of Interstate 80 and Sparks Boulevard, The Legends Marina Casino-Resort-Spa will include 1,000 upscale hotel rooms and suites, each featuring lake and mountain views, a spacious casino, a lakefront amphitheater, a private beach and dancing water fall show, several fine dining and casual restaurants, as well as a high-end spa, fitness center, and salon facility, and a large-scale convention and corporate meeting center.

The casino-resort-spa will be seamlessly integrated with the Legends at Sparks Marina thereby providing guests and visitors with an all encompassing experience as they travel to and from the adjacent retail and entertainment venues. The Legends at Sparks Marina which broke ground in April 2007 will include more than 1.2 million square feet of retail, restaurants and entertainment offerings. Signature retail attractions and restaurants secured to date include Scheels, T-Rex: A Prehistoric Adventure, Saddle Ranch Chop House, Pin-Up Bowl, Off-Broadway Shoes, and Brooks Brothers.

GENERAL FACTS:

Project Name: Legends Marina Casino-Resort-Spa

Estimated cost: $800 million

Size of development: Approximately 14-acres

Location: The Legends at Sparks Marina, Sparks NV

Ground breaking: Q1 2008

Completion date: Q4 2009 or Q1 2010

PHASE 1 PROPERTY FEATURES:

400-500 upscale hotel rooms and suites, each featuring lake and mountain views

Spacious casino including a wide array of slots and table games

Tournament-style poker room

State-of-the-art race and sports book