Equus Gaming Co.: Other News Release


                           
                          News Release


FOR IMMEDIATE RELEASE                             CONTACT
April 4, 1997                                     Gregory A. TenEyck
                                                  (301) 843-8600


                 EL COMANDANTE REPORTS WAGERING
                  COMMISSIONS FOR FIRST QUARTER
                                
                                
     ST. CHARLES, Md._ Equus Gaming Company L.P. (Nasdaq: EQUUS),
a publicly traded partnership with horse racing and gaming
interests in the Caribbean, announced today that El Comandante
Operating Company, Inc. (ECOC) has reported that its commissions
on wagering at El Comandante Race Track in Puerto Rico were $13.9
million for the quarter ended March 31, 1997, as compared with
$15.2 million for same three months in 1996.  The 1997 quarter had
62 race days versus 61 for the 1996 period.
     Thomas B. Wilson, President of ECOC, attributed the 1997
decrease to a number of factors, including a rainier season and
smaller fields of horses than a year ago.  "We are pro-active in
our efforts to identify and correct negative trends that we can
control," said Mr. Wilson.  "We are already working on strategies
to improve our first quarter performance in the months ahead."
     El Comandante hosts racing five days a week year round.  All
races are broadcast on live television throughout Puerto Rico,
where there are approximately 670 off-track betting (OTB)
agencies.  Additionally, El Comandante races are simulcast to
approximately 230 OTB agencies in the Dominican Republic.
     Equus has an 82 percent interest in Housing Development
Associates, S.E. (HDA), a partnership that owns El Comandante.
ECOC leases the track and pays HDA 25 percent of wagering
commissions as rent.  HDA also owns a 55 percent interest in
Galapagos, S.A., which operates a government-owned race track and
OTB agency system in the Dominican Republic. Galapagos recently
announced that commencing June 1997 it will manage the wagering
distribution system for a new national lottery in the Dominican
Republic, which will allow a sharing of OTB and lottery outlets.
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