155 East Tropicana Announces Extension of Exchange Offer

155 East Tropicana, LLC (the "Company") today announced that it has extended until 5:00 p.m. Eastern Time August 4, 2005 its exchange offer in which newly issued 8 3/4% Senior Notes due 2012 which have been registered with the Securities and Exchange Commission can be exchanged for 8 3/4% Senior Notes due 2012 which were sold pursuant to Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"). The new notes will be issued following authentication by The Bank of New York Trust Company, N.A., the exchange agent and trustee for the notes, and settlement through the Depository Trust Company.

The new notes have substantially identical terms as the original notes, except that the new notes have been registered under the Securities Act and will be freely tradable.

The terms of the exchange offer and other information relating to the Company are set forth in the prospectus dated June 24, 2005. Copies of the prospectus and the related letter of transmittal may be obtained from our Form S-4/A dated June 28, 2005 at www.sec.gov or from The Bank of New York Trust Company, N.A. The Bank of New York Trust Company's address and telephone number are as follows: -0- *T The Bank of New York Trust Company, N.A. c/o The Bank of New York 101 Barclay Street, 7E Corporate Trust Operations Reorganization Unit New York, NY 10286 (212) 815-3687 *T

This press release shall not constitute an offer to exchange nor a solicitation of an offer to exchange the original notes. The exchange offer is made only by the prospectus dated June 24, 2005.

About 155 East Tropicana, LLC

155 East Tropicana, LLC owns the Hotel San Remo Casino and Resort in Las Vegas, Nevada, which the company has begun to renovate and intends to re-brand as Hooters Casino Hotel. The property is located one-half block from the intersection of Tropicana Avenue and Las Vegas Boulevard, a major intersection on the Las Vegas Strip. The Hotel San Remo currently features 711 hotel rooms and an approximately 24,000 square-foot casino.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.