Business Wire: Sports Mogul Wins $1 Million in Winner-Take-All Blackjack Tournament at Barona Valley

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SAN DIEGO--(BUSINESS WIRE)--March 1, 2004

Joe Maloof, co-owner of the Sacramento Kings and the Palms Casino & Resort in Las Vegas, won the $1 Million Blackjack Tournament at the Barona Valley Ranch Resort & Casino yesterday.

Maloof played 120 hands during the two-day, four-round tournament. Down $16,000 entering the last hand, Maloof hit a $25,000 blackjack to win the winner-take-all event. His brother Gavin Maloof, co-owner of the Kings, was eliminated in the semifinals.

Reacting to his million-dollar win Maloof said, "The only thing that would make me happier is if the Kings won the championship."

Maloof was one of 41 entrants and advanced through the invitation-only event. After anteing up a $10,000 entrance fee, contestants were issued $50,000 in tournament chips to be used per round, with a minimum bet of $1,000 or maximum bet of $25,000 per hand required.

"We are thrilled that Mr. Maloof won our inaugural Blackjack Tournament," said Nick Dillon, executive director of casino operations for the Barona Valley Ranch Resort & Casino. "The caliber of player and excitement surrounding this first-of-its-kind tournament was unprecedented and demonstrates that Barona Valley Ranch can attract high-profile players with our world-class gaming and hospitality."

Blending the best of San Diego's most elegant resorts with the gaming excitement of Las Vegas, the $260 million Barona Valley Ranch Resort & Casino is San Diego's leading destination resort featuring 396 luxury guest rooms and suites, a 300,000 square foot casino, a lakefront wedding chapel, the AmBience Day Spa, a full-service events center and the 18-hole championship Barona Creek Golf Club, rated the 5th best daily-fee course in California by Golfweek Magazine.

For Barona Valley Ranch Resort & Casino reservations and information, visit www.barona.com or call toll free 888-7-BARONA (722-7662).

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