Equus Gaming Co.: Panama Race Track

EQUUS GAMING COMPANY L.P.
EXECUTIVE OFFICES
222 Smallwood Village Center, St. Charles, Maryland   (301) 843-8600  
Fax (301) 870-5487

                                
                          News Release

FOR IMMEDIATE RELEASE                                  CONTACT
February 3, 1998                                       J. Manuel Rivera
                                                       (787) 753-0676


                  EQUUS ANNOUNCES COMMENCEMENT
               OF OPERATIONS AT PANAMA RACE TRACK
                                
                                
     ST. CHARLES, Md._ Equus Gaming Company L.P. (Nasdaq: EQUUS),
a publicly traded partnership with horse racing and gaming
interests in the Caribbean, today announced that Presidente Rem”n
Race Track in Panama City, had a simulcasting handle for the
month of January 1998 of over $1,450,000.  The race track, closed
for renovations since the beginning of the year when Equus took
over on a 20 year-operating agreement with the government of
Panama, has been offering patrons an array of racing cards from
all over the United States.  "The response has far outpaced our
expectations," commented Juan Manuel Rivera Gonz lez, President
of Equus Gaming-Panama.  "Simply stated, Panamanians love horse
racing."
     Rivera Gonz lez explained that over $2 million has been
committed for improvements to Panama's only thoroughbred racing
facility.  In addition to the extensive remodeling of the track,
a new $2 million computerized Autotote pari-mutuel betting system
was installed.
     The renovations, to be completed by mid-February, include an
overhaul of the entire grandstand area, new landscape design and
construction of new paddock and walking ring areas.  A new
electronic toteboard, modern teletimer system and the latest in
photofinish equipment will insure that racing at Presidente Rem”n
race track is supported by state-of-the-art technology.
     "Panama has a long and rich racing tradition that only
needed to be reawakened.  We look forward to the return of the
live racing program on February 14 in the refurbished track and
facilities," concluded Rivera Gonz lez.

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