CORPORATE FINANCIALS ONLINE Fastest direct links to news from publicly-traded companies.

              Equus Gaming Co.: Reports 1st Quarter Results



                      Equus Gaming Company, L.P.
          Reports Results For First Quarter Ended March 31, 2000

SAN JUAN, Puerto Rico, (May 15, 2000) - Equus Gaming Company, L.P. (Nasdaq:
EQUUS), ("The Company"), a publicly traded partnership with thoroughbred
horse racing and entertainment interests in Latin America and the aribbean,
reports its operating results for the three months ended March 31, 2000.  
Equus operating results are attributed to the following racetracks: El
Comandante in Puerto Rico; V Centenario "Galapagos" in the Dominican
Republic; Presidente Remon in Panama (the host of the XXXII International
Caribbean Classic in December of 1999); Los Comuneros in Medellin,
Colombia.

Equus had a net loss of $ 607,000, or net loss per unit of $0.07, for the
three months ended March 31, 2000 as compared to net income of $580,000, or
net income per unit of $0.10, for the quarter ended March 31, 1999. The net
loss for the quarter was primarily attributable to start-up of operations
and costs associated with Los Comuneros in Colombia and to reduction in
wagering commissions in the Dominican Republic and Puerto Rico due to
temporary suspension of simulcast (broadcast) of live races during the
first two months of the quarter from Puerto Rico to the Dominican Republic.

Commissions on wagering decreased by $793,000, or 4.6%, for the three
months ended March 31, 2000 to $16, 516,000 as compared to $17,309,000 for
the three months ended March 31, 1999.  Total expenses increased in the
first quarter of 2000 by $205,000, or 1%, as compared to the same first
quarter in 1999. The increase in expenses was primarily attributable to
operating expenses and marketing/satellite expenses for the planning,
engineering and startup expenses on the wagering system and leased
satellite time. These start-up expenses are expected to be recovered during
the year.

In Colombia, the Company is in process of installing and equipping new
agencies with new TV signal and data equipment to increase wagering
commissions from simulcast of live races from Panama and other
jurisdictions. During the coming quarters the Colombian operations,
including Los Comuneros racetrack, are expected to start making a positive
contribution in earnings and cash flow as the new agencies are brought on
line.

The Dominican Republic wagering commissions was adversely impacted during
the first quarter due to suspension of simulcast of live races from Puerto
Rico. The dispute with the horseowners has been resolved and simulcast of
live races from Puerto Rico will continue. Additionally, the Racing Board
in the Dominican Republic has approved full simulcast programs of live
races from Panama, the United States, and other locations. The new
simulcast program should increase wagering commissions as well as net
earnings and cash flow during the remaining quarters.

The Company has also completed recent negotiations in the Dominican
Republic with the government, the Racing Board and horseowners on issues
that will improve the racing program, extend the operating license for
another ten- year period (thru 2012), lower the wagering taxes and
redistribute those revenues for the benefit of the racetrack and
horseowners to facilitate the development of new off-track betting
agencies. The addition of the new VSAT communication system will allow
aggressive expansion of agencies in the Dominican Republic during the rest
of the year.

The Company is moving ahead to establish the new VSAT system during the
next 12 months throughout its extensive off-track agency betting network in
all of its operations. The Company is in the process of completing the
communication center (HUB) at El Comandante. It will be changing its
telephone lines in its Puerto Rico agency network (700 agencies) to the new
VSAT system. The Company's service provider subsidiaries, Satellite
Services International, Inc. (SSI) and Agency Betting Network, Inc. (ABN)
will carry out the development and installation of the high-technology
satellite communication system throughout the Company's off track betting
agencies in all jurisdictions. 



                          Equus Gaming Company, L.P.
                             Financial Highlights
                   (In Thousands, Except Per Unit Amounts)

                                                   For the Quarter
                                                   Ended March 31
                                                  2000          1999

    Revenues:
    Commissions on wagering                     $16,516        $17,309
    Net revenues from lottery                       108            142
    Income from insurance settlement                  -              -
    Other revenues                                  999          1,534
                                                 17,623         18,985

    Payments to horseowners                       7,970          8,393
    Salaries, wages and benefits                  2,448          2,913
    Operating expenses                            2,383          2,163
    General and administrative                    1,002            778
    Marketing, television and satellite costs     1,128            930

    EBITDA                                        2,692          3,808
    Financial expenses                            2,446          2,074
    Depreciation, amortization                      955            876

    Loss from operations                           (709)           858
    Income tax (provision) benefit                 (156)          (338)
    Minority interest in losses                     258             60
    Extraordinary item                                -              -
    Cumulative effect                                 -              -

    Net income (loss)                           $  (607)        $  580

    Allocation of net income (loss)-
     General partner                            $    (6)        $    6
     Limited partner                               (601)           574
                                                $  (607)        $  580

    Weighted average Units                        8,390          5,969
    Net income (loss) per unit                  $ (0.07)        $ 0.10


End.