Monarch Casino & Resort Receives Recommendation from Nevada State Gaming Control Board

On August 8, 2012, the Nevada State Gaming Control Board recommended that the application of Monarch Casino & Resort MCRI and its wholly-owned subsidiary, Monarch Interactive, Inc. (collectively, "Monarch") for a license to conduct intrastate interactive gaming in the State of Nevada be approved. This recommendation is not a license, but only a recommendation to the Nevada Gaming Commission ("Commission"), and was made subject to the satisfaction of several conditions. The Commission hearing is scheduled for August 23, 2012. There is no assurance that the Commission will approve the application, and, if approved, Monarch will still be required to meet the Commission's conditions and enter into contracts with licensed interactive gaming service providers, which contracts have not yet been consummated. Nevada law currently limits permissible interactive gaming to poker.