Diamond Jo calls 12¼% notes

New York, April 16 - Diamond Jo, LLC, formerly know as Peninsula Gaming Co., LLC, said it will redeem its 12¼% senior secured notes due 2006 on May 16.

The Dubuque, Iowa gaming company will pay 108% of par plus accrued interest.

Diamond Jo also said its Old Evangeline Downs, LLC subsidiary completed its tender offer, buying $116.29 million principal amount of its 13% senior secured notes due 2010.

The actions follow completion of Diamond Jo's sale of $233 million principal amount of 8¾% senior secured notes due 2012.

Old Evangeline Downs said on March 17 it had received consents from holders of a majority of its outstanding 13% senior secured notes due 2010.

It also said it is increasing the consent payment to $20 per $1,000 for a total payment of $1,140 per $1,000 for holders who tender their notes and deliver consents by the consent deadline of 5 p.m. ET on March 19. Previously the consent payment was $10 per $1,000 and the total payment $1,130.

Old Evangeline Downs said on March 9 it had begun a tender offer for all its $123.2 million principal amount of 13% notes.

The Lafayette, La. owner of the Evangeline Downs pari-mutuel horsetrack said it is also soliciting consents to amend the note indenture and to release the liens on the collateral securing the notes.

For notes tendered after the consent deadline but before the expiration of 5 p.m. ET on April 5 the payment will be $1,120 per $1,000 principal amount.

A tender of a note will be deemed to be delivery of consent.

The tender offer is subject to various conditions including the receipt of tenders for at least a majority of the outstanding notes, the execution of the supplemental indenture for which consents are being solicited and completion of an offering of senior secured notes by an affiliate of Old Evangeline Downs. Proceeds of the note offering will be used to help finance the tender offer.

U.S. Bank NA is the depository and information agent (800 934-6802).

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