EXHIBIT 99.1

         LATIN AMERICAN CASINOS, INC. CHANGES NAME TO NUWAY ENERGY, INC.
                    To Reflect New Venture into Energy Sector

August 13 2001, Latin American Casinos, Inc. (NASDAQ: LACI) today announced that
it has changed its name to NuWay Energy Inc. We have reserved the ticker symbol
"NWAY" and anticipate trading under this symbol on Wednesday, August, 15, 2001.

For approximately the last year we have been exploring new business
opportunities in order to enhance the value of the company. After extensive
research the company has chosen to enter the oil and gas industry in Canada via
the formation of subsidiaries in Alberta, Canada, and Nevada, U.S. The name
change will reflect this new venture that the company will be exploring.
Initially the company will partner with existing oil & gas operators in the
province of Alberta, Canada. Additionally, NuWay Energy will evaluate other
potential acquisitions in the energy industry. While we are entering into a new
venture, we are not changing our core business at this time.

NuWay Energy anticipates participating with experienced oil and gas companies in
Alberta, Canada and acquiring interests in producing properties, some of which
are available for acquisition from large energy companies. Recently, there has
been a tremendous amount of consolidation of large energy companies in Canada.
Because of this consolidation, management believes there are opportunities for
small to mid-sized junior oil and gas companies to acquire producing properties
which do not meet the economic requirements of these newly created large energy
companies.

As part of NuWay Energy's focus, the company will participate with operators
that will bring strong technical capabilities and experience in acquiring and
exploiting properties to yield maximum returns.

NuWay is focused on growth, value and performance as it participates with
experienced operators, which have acquired world-class assets of high quality
and long-life reserves. The goal of NuWay Energy is to provide sustainable
growth in this field by acquiring existing producing properties, balanced by
low-risk development opportunities with low to medium risk exploration.

According to the U.S. Energy Information Administration, Canada is a major
source of U.S. oil imports and is the fifth largest energy producer in the
world, behind the United States, Russia, China, and Saudi Arabia. The United
States imported more oil (including crude oil and petroleum products) from
Canada than from any other country from January thru November 2000. The United
States also consumes large amounts of Canadian natural gas, which accounted for
94% of U.S. gas imports, in the first half of 2000.

According to the Canadian Association of Petroleum Producers, Oil production in
Canada averaged 2.7 million barrels per day during the year 2000 and has proven

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oil reserves of 4.7 billion barrels, as of January 2001, Alberta, called the
"Oil Province" in western Canada, is by far the country's leading oil producer
and has about 35,000 producing oil and natural gas wells.

Additionally, Canada holds about 61 trillion cubic feet of proven natural gas
reserves, and additional reserves are thought to lie off Canada's eastern coast
between Newfoundland and Nova Scotia. Canada currently produces about 6.3
trillion cubic feet of natural gas per year, making it he world's third largest
gas producer (after the United States and Russia) and second largest gas
exporter (after Russia). Canada's gas exports go almost exclusively to the
United States.

FORWARD LOOKING STATEMENTS

Certain statements in this press release constitute "forward-looking statements"
with the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, but are not limited to, risks
relating to the Company's ability to the Company's capital requirements,
availability of financing and other risks detailed in the Company's filings with
the Securities and Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
the statement was made.


Contact:  NuWay Energy Inc.
          Todd Sanders, CEO
          (949) 553-8002


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