Niagara Casinos President Named - Sunday 4th of June 2006

NIAGARA FALLS, Ontario – Art Frank, formerPresident and CEO of Casino Rama, has been named President of NiagaraCasinos by the board of directors of Falls Management Company (FMC).

As President of Niagara Casinos, Mr. Frank will be responsible for theday-to-day operation of both Fallsview Casino Resort and Casino Niagara.

While with Casino Rama, Mr. Frank spearheaded expansion including anentertainment centre, an all-suite hotel, restaurants and a spa. CasinoRama experienced record financial success over the past three years whileunder Mr. Frank's charge.

Prior to his tenure at Casino Rama, Mr. Frank served as Sr. VicePresident, Gaming Division, Carnival Resorts & Casinos, responsible for allU.S. and Caribbean casino operations and development of new projects.

"Mr. Frank's in-depth gaming experience and knowledge of the Ontariogaming market will prove to be important assets in his leadership role withNiagara Casinos, building on the current success of Fallsview Casino Resortand Casino Niagara," said Clare Copeland, CEO, FMC.

Mr. Frank's appointment is effective July 1, 2006.

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

Built on a cliff overlooking the world-famous Horseshoe Falls,Fallsview Casino Resort is the largest and most elegant gaming resortfacility in Canada and the crown jewel in Niagara's stunning array ofwonders. It features a casino with over 3,000 slot machines and 142 gamingtables, a 374-room luxury hotel, a full-service spa and fitness centre, a1,500-seat showroom, dozens of dining and shopping options, over 30,000square feet of meeting and convention space, the only wedding chapel in aCanadian gaming facility and the brand new nightclub 'Dragonfly.'

Opened to the public on December 9, 1996, Casino Niagara remains acornerstone of the tourism and nightlife scenes in Niagara Falls, Canada.In 2005, Casino Niagara underwent $12 million in renovations and is todayhome to more than 1,800 slot machines, 80 gaming tables, a 15-table pokerroom, a new steakhouse called "Lucky's," an expanded Market Buffet, two newbars called "Quench" and "Corona," an on-site radio broadcast centre, astage for live entertainment right on the gaming floor, a Yuk Yuk's comedyclub and "The Sports Section" - Canada's only casino-based facilitydedicated to multi- sports wagering and off-track betting.

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