Argosy Gaming Company

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International Guild of Hospitality & Restaurant Managers

Argosy Gaming Company (NYSE:AGY)

219 Piasa Street
Alton, IL 62002

Phone: (618) 474-7500
Fax: (618) 474-7636
Email: invrel@argosycasinos.com
Employees (last reported count): 6,130

Argosy Gaming Company, incorporated in 1993, is an owner and operator of six riverboat casinos located in the central United States. The Company has riverboat gaming operations in St. Louis, Kansas City, Baton Rouge and Sioux City. Argosy also has a riverboat casino that serves the Cincinnati market from Lawrenceburg, Indiana. In the first quarter of 2001, the Company purchased its minority partners' collective 42.5% interest in the Lawrenceburg casino, giving Argosy 100% ownership of the Lawrenceburg Partnership. As a result, the Company now owns 100% of all its casinos. On July 31, 2001, Argosy acquired 100% of the Empress Casino Joliet, which serves the Chicago, Illinois, market.

Argosy Casino Lawrenceburg

The Lawrenceburg casino is located on the Ohio River in Lawrenceburg, Indiana, approximately 15 miles west of Cincinnati, and is the closest casino to the Cincinnati metropolitan area. The Lawrenceburg casino has 74,300 square feet of gaming space on three levels with 2, 143 slot machines and 98 table games. Argosy typically conducts nine two-hour cruises seven days a week, with an additional cruise on Friday and Saturday evenings, for a total of 65 cruises per week. Each cruise lasts two hours, including a 30-minute boarding time, and, during peak periods, the Company charges admission fees. Indiana gaming law permits dockside gaming only when inclement weather or water conditions prevent a riverboat from cruising. At such times, the Lawrenceburg casino remains dockside and operates on its normal schedule.

The complex also features a 300-room hotel, a 200,000-square-foot, land-based entertainment pavilion and support facility offering a 350-seat buffet restaurant, two specialty restaurants, an entertainment lounge and a 1,800-space parking garage. Employee and overflow parking is provided at a 1,400-space remote lot that is accessed by shuttle bus.

In the first quarter of 2001, Argosy acquired the minority interests in Indiana Gaming Company, L.P., the Indiana partnership that owns and operates the Lawrenceburg casino. Prior to this acquisition, the Company was the 57.5% majority partner with Conseco Entertainment, L.L.C. and Centaur, Inc., owning 29% and 13.5% limited partnership interests, respectively. The Company completed its purchase of Conseco's and Centaur's minority interests on February 22, 2001, and March 8, 2001, respectively.

Alton Belle Casino

The Alton Belle Casino is located on the Mississippi River in Alton, Illinois, approximately 20 miles northeast of downtown St. Louis. The Company commenced operations in Alton, Illinois, in September 1991. Following the success of its original Alton riverboat casino, Argosy built and opened a larger three-deck contemporary style cruise liner. The cruise liner features 26,700 square feet of gaming space, 1,013 slot machines and 28 table games.

The Alton property includes an approximately 60,000-square-foot entertainment pavilion and features a 124-seat buffet, a fine dining restaurant and a 400-seat main showroom. Parking is available at an adjacent city-owned surface parking facility and at two sites in the city of Alton, to and from which Argosy provides valet parking, as well as a free shuttle service.

Argosy Casino - Riverside

The Argosy Casino of Greater Kansas City is located on the Missouri River in Riverside, Missouri, on a 55-acre site approximately five miles from downtown Kansas City. The riverboat features approximately 36,000 square feet of gaming space, 1,127 slot machines and 30 table games. The Kansas City casino began operations in Kansas City, Missouri, on June 22, 1994.

The Kansas City casino is complemented by an 85,000-square-foot, land-based entertainment facility featuring specialty and buffet restaurants, a sports/entertainment lounge and 8,000 square feet of banquet/conference facilities. A parking garage and surface parking areas with 2,000 spaces are located adjacent to the pavilion.

Argosy Casino Baton Rouge

The Argosy Casino Baton Rouge is located on the Mississippi River in downtown Baton Rouge, Louisiana. The riverboat features approximately 28,000 square feet of gaming space, 778 slot machines and 37 table games. The Baton Rouge casino began operations in September 1994.

The riverboat casino is complemented by a 730-space parking garage, a 270-space surface parking lot and by the Company's adjacent real estate development, known as Catfish Town. Catfish Town is located next to Baton Rouge's convention complex, the Centroplex, which has a 12,000-seat arena and a 30,000-square-foot exhibition hall. Catfish Town includes a 50,000-square-foot, glass-enclosed atrium, entertainment/sports lounge, buffet/coffee shop, conference facilities and approximately 150,000 square feet of leasable retail space. Argosy owns and operates the Catfish Town facility through its wholly owned subsidiary, Jazz Enterprises, Inc., which the Company acquired in 1995 after Catfish Town's developer experienced financial difficulties and put in doubt its ability to satisfy certain development obligations to the City of Baton Rouge. During July 1999, Argosy began construction of a $22 million, 300-room hotel that opened in February 2001. The hotel is managed by Sheraton Hotel and Resorts pursuant to a management agreement until 2011.

Belle of Sioux City

The Belle of Sioux City is located on the Missouri River in downtown Sioux City, Iowa. The riverboat features 12,500 square feet of gaming space, 419 slot machines and 21 table games. The Belle of Sioux City typically conducts one two-hour cruise each day for 100 days per year. At all other times, the Belle of Sioux City remains dockside and operates with unlimited ingress and egress. The casino is complemented by adjacent barge facilities featuring buffet dining facilities, meeting space and administrative support offices.

In July 2000, Argosy purchased the 30% minority interest in the Belle of Sioux City Casino from Sioux City Riverboat Corp., Inc. Prior to this acquisition, the Company was a 70% general partner and received a management fee of 4.5%, based upon the facility's adjusted gross gaming revenues.

Empress Casino Joliet

The Empress Casino Joliet is located in Joliet, Illinois, on a 300-acre site approximately 40 miles southwest of Chicago. The casino consists of two adjacent riverboat vessels providing a combined 36,066 square feet of gaming space with 1,113 slot machines and 32 table games. Both riverboats remain dockside and offer customers unlimited ingress and egress. The complex features a 150,000-square-foot, Egyptian-themed pavilion with three restaurants, an entertainment lounge and banquet/conference facilities. The pavilion also contains an off-track pari-mutuel betting parlor. The complex also includes a 102-room hotel, surface parking areas with approximately 2, 350 spaces and an 80-space recreational vehicle park.

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The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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