EXHIBIT 99.1

FOR IMMEDIATE RELEASE
                                          CONTACT:
                                          MICHAEL E. KELLY
                                          EXECUTIVE VICE PRESIDENT/
                                          CHIEF OPERATING OFFICER / CFO
                                          MAJESTIC STAR CASINO
                                          (702) 388-2240


                         MAJESTIC INVESTOR HOLDINGS, LLC
                                       AND
                         MAJESTIC INVESTOR CAPITAL CORP.
                  ANNOUNCE SENIOR SECURED NOTES EXCHANGE OFFER

GARY, IND (August 8, 2002)--Majestic Investor Holdings, LLC and Majestic
Investor Capital Corp. (the "Companies") today announced an offer to exchange up
to $152,632,000 principal amount of its 11.653% Senior Secured Notes due 2007,
registered under the Securities Act of 1933 (the registered notes), for any and
all of its outstanding 11.653% Senior Secured Notes due 2007 (the unregistered
notes). The exchange offer will expire at 5:00 p.m., New York City time, on
Friday September 6, 2002, unless the Companies, in their sole discretion, decide
to extend the exchange offer.

The Companies issued $152,632,000 of unregistered notes on December 6, 2001. As
stated in their Form S-4 Registration Statement, which became effective today,
the Companies entered into a registration rights agreement on December 6, 2001,
with the initial purchasers of the unregistered notes that requires them to file
a registration statement under the Securities Act of 1933 providing for this
exchange offer. The registered notes will be issued without a restrictive legend
and generally may be reoffered and resold without registration under the
Securities Act of 1933.

The exchange agent for the exchange offer is The Bank of New York, Corporate
Trust Operations, Reorganziation Unit, 101 Barclay Street, 7 East, New York, New
York 10286. Information may be obtained by calling (212) 815-6331.

Majestic Investor Holdings, LLC was formed on September 14, 2001, as a Delaware
limited liability company. The Company is a multi-jurisdictional gaming company
that owns and operates three Fitzgeralds brand casinos located in Tunica,
Mississippi ("Fitzgeralds Tunica"), Black Hawk, Colorado ("Fitzgeralds Black
Hawk"), and downtown Las Vegas, Nevada ("Fitzgeralds Las Vegas"). As of June 30,
2002, the Fitzgeralds properties collectively contain approximately 2,880 slot
machines, 384 table games and 2,290 hotel rooms.
Majestic Investor Holdings, LLC is an unrestricted subsidiary of The Majestic
Star Casino, LLC, ("Majestic Star"). Majestic Star directly owns and operates a
riverboat gaming facility located in Gary, Indiana, and through its unrestricted
subsidiary, Majestic Investor Holdings, LLC, three Fitzgeralds brand casinos.





MAJESTIC INVESTOR HOLDINGS, LLC
MAJESTIC INVESTOR CAPITAL CORP.
ANNOUNCE SENIOR SECURED NOTES EXCHANGE OFFER

                                                                   Page 2

Certain statements made herein may constitute "forward-looking" statements
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking statements involve
numerous assumptions, known and unknown risks, uncertainties and other factors
which may cause actual or future performance or achievements to be materially
different from any future results, performance, or achievements expressed or
implied by such forward-looking statements. These factors include, but are not
limited to: economic, competitive, demographic, business and other conditions in
our local and regional markets; changes or developments in laws, regulations or
taxes in the casino and gaming industry; substantial indebtedness, debt service
requirements and liquidity constraints; and other adverse conditions, such as
adverse economic conditions, changes in general customer confidence or spending,
increased transportation costs, travel concerns or weather-related factors, that
may adversely affect the economy in general and/or the casino and gaming
industry in particular.

Inquires for additional information should be directed to Michael E. Kelly,
Executive Vice President / Chief Operating Officer / CFO at 702-388-2240.

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