HOUSTON, Nov. 5, 2008 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE Alternext US: UWN) today announced that it has signed a consulting contract with Ocean Casino Cruises, Inc. (OCC Inc.), the parent company of SunCruz Casinos.

SunCruz currently operates gaming cruises in three locations in Florida, including Port Canaveral, Jacksonville and Key Largo, and one in Myrtle Beach, South Carolina. Each SunCruz ship features five-hour gaming cruises with live entertainment and a variety of food and beverage options. The onboard casino games include Las Vegas-style slot machines, live blackjack, craps, roulette, poker and sports wagering.

Robert Sturges, CEO of Nevada Gold & Casinos, Inc., commented, ``This consulting contract represents an example of the growing opportunities for Nevada Gold's consulting services as an increasing number of entities will seek outside expertise for their gaming investments. Our gaming operations and financial experience provide an immediate team they can count on in these turbulent times.''

``We are very pleased to have entered into this agreement with Ocean Casino Cruises, Inc., and believe our expertise will enable us to enhance the gaming experience on their casino cruises. The non-land-based gaming market represents a very compelling opportunity, particularly in these attractive geographic areas, and we are confident that we will be able to add significant value as we focus on improving operating performance in each location,'' concluded Mr. Sturges.

Forward-Looking Statements

This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as ``anticipate,'' ``believe,'' ``expect,'' ``future,'' ``intend,'' ``plan,'' and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional Indian gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.

About Nevada Gold & Casinos

Nevada Gold & Casinos, Inc. (NYSE Alternext US: UWN) of Houston, Texas is a developer, owner and operator of gaming facilities and lodging entertainment facilities in Colorado and California. Colorado Grande Casino in Cripple Creek, Colorado is wholly owned and operated by Nevada Gold. The Company currently has a consulting contract with Oceans Casino Cruises, Inc., the parent company of SunCruz Casinos. Nevada Gold & Casinos also works with Native American tribes in a variety of capacities. Current Native American projects consist of a casino to be developed by Buena Vista Development Company, LLC in the city of Ione, California for the Buena Vista Rancheria of Me-Wuk Indians. For more information, visit http://www.nevadagold.com.

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          Nevada Gold & Casinos, Inc.
          Robert B. Sturges
          (713) 621-2245
 
          ICR
          Don Duffy
          (203) 682-8200