NIAGARA FALLSVIEW CASINO RESORT: A VIEW TO THE FUTURE

June 8, 2004

Gala Opening of $1 billion entertainment complex launches new era of excitement, tourism and economic development for Niagara region

Niagara Falls, ON - With more than 6,000 invited guests on hand for the celebration, Niagara Fallsview Casino Resort - the spectacular, $1 billion entertainment complex overlooking the Horseshoe Falls - opens its doors today, ushering in a new era of excitement and prosperity for the Niagara region.

Described as a sparkling jewel in Niagara's crown, Niagara Fallsview Casino Resort is expected to provide a major tourism and economic boost to the area, which has already experienced tremendous growth since the opening of Casino Niagara in 1996.

"The new casino will bring thousands of direct and spin off jobs to the city and will continue the Niagara region's transformation into a unique, year-round tourist destination," said Joseph Cordiano, Ontario Minister of Economic Development and Trade. "The McGuinty government is committed to a responsible gaming industry, one that provides long-term support for the things that matter most to Ontarians - healthcare, education and strong communities."

Minister Cordiano presided over the ribbon cutting for the new facility, joining a who's who of the Niagara community in the Gala Opening ceremonies today. Dignitaries included Jim Bradley, Ontario Minister of Tourism and Recreation , Jim Watson, Ontario Minister of Consumer and Business Services, Kim Craitor, MPP Niagara Falls and Ted Salci, Mayor of Niagara Falls. Pending regulatory approvals from the Alcohol and Gaming Commission of Ontario, the facility will open to the public at noon on Thursday, June 10.

"The completion of this project is the culmination of years of planning, creativity and outstanding execution to bring a world-class casino resort to Niagara Falls," said Duncan Brown, Chief Executive Officer of the Ontario Lottery and Gaming Corporation. " More importantly, Niagara Fallsview will lead to approximately 2,500 direct new jobs in the city, it will attract millions more tourists, and it has already been the catalyst for roughly $2.5 billion dollars in new investment."

The new resort will be one of the grandest and most extensive facilities ever to appear on the Niagara skyline.

Niagara Fallsview Casino Resort is a 2.5 million square foot complex. Its features include a 200,000 square foot casino, offering 150 gaming tables and 3,000 slot machines; a 30-storey luxury hotel with 368 rooms and suites; a 15,000 square foot health and fitness spa; and an expansive shopping Galleria. Patrons will have ten excellent dining venues to choose from, to suit every palate.

The 1,500 seat Avalon Ballroom will feature some of the world's top entertainers. Already booked for shows over the next several weeks are such headline acts as the Barenaked Ladies, the Steve Miller Band, singers Loretta Lynn and Julio Iglesias, and comedian Howie Mandel.

Evoking a "belle époque" theme that celebrates much of the grand history of the Niagara Falls area, the new entertainment complex was architecturally designed by a joint venture of Zeidler Partnership, and Bregman and Hamann Architects. The interior design and theming of the gaming floor and hotel lobby were created by Dougall Design Associates, which has also done the interiors of several prominent Las Vegas casino resorts. Wood, stone and other resources that are native to Canada are being used wherever possible, and natural light is predominant through the extensive use of glass domes and floor-to-ceiling windows.

"This is an exciting time for our City and our people. Niagara Falls currently has the fastest growing economy in Canada, and thanks to Niagara Fallsview Casino Resort and our many other attractions, the future looks even brighter," said Ted Salci, Mayor of the City of Niagara Falls.

The opening of Niagara Fallsview Casino Resort will provide Niagara Falls with two casino properties, as the existing Casino Niagara will continue to operate.

The Ontario Lottery and Gaming Corporation is an operational enterprise of the Government of Ontario, responsible for province-wide lottery games, commercial and charitable casinos, and the operation and management of slot machine facilities at horse racing tracks.

Falls Management Company is a consortium of five firms which was selected by the Ontario Lottery and Gaming Corporation to operate Casino Niagara; and to finance, design, build and operate Niagara Fallsview Casino Resort.