DEBBIE REYNOLDS HOTEL & CASINO, INC. ANNOUNCES BANKRUPTCY COURT 
APPROVAL OF THE CENTRAL FLORIDA INVESTMENTS TRANSACTION

For Immediate Release

     Las Vegas,  Nevada,  April 13, 1998 - Debbie Reynolds Hotel & Casino, Inc.,
("DRHC"),  (OTC:  DEBIQ) a Nevada  Corporation,  announces  today  that  Central
Florida Investments Inc., ("CFI"), an affiliate of David A. Siegel,  ("Siegel"),
Owner and President of Westgate Resorts, one of the largest timeshare developers
in the world, has been approved by the Bankruptcy Court to purchase 92.5% of the
Company for $15,600,000.

     TD Entertainment,  ("TD"), an affiliate of Todd Fisher and Debbie Reynolds,
has  agreed to lease  certain  of the  property  operations  from CFI.  TD shall
acquire the rights to utilize the name and likeness of Debbie  Reynolds and also
shall acquire the rights from the Hollywood Motion Picture and Television Museum
to operate the Museum as it currently operates at the hotel.

     Pursuant to the Alternative  Transaction  section of DRHC's Revised Plan of
Reorganization,  CFI and another  potential  purchaser entered into open bidding
for the  Company.  CFI's bid of  $15,600,000  to purchase  92.5% of DRHC was the
highest and best  offer.  The  remaining  7.5%  ownership  of DRHC will be split
between the unsecured creditors and the current  shareholders with the unsecured
creditors  receiving  5% and  the  current  shareholders  retaining  2.5% of the
Company.

     As a condition  precedent to purchasing 92.5% of DRHC, CFI requested and TD
agreed to enter into a 10 year space lease with DRHC which  provides that Debbie
Reynolds  name and  likeness  continue  to be  utilized,  that  Debbie  Reynolds
provides  showroom  services and that the  Hollywood  Museum remain on the hotel
property  for the  duration of the lease.  The TD lease will include the casino,
showroom, museum, giftshop and bar.

     The offer is solely contingent to CFI's satisfactory  completion of its due
diligence.  CFI has been  allowed 30 days to complete its due  diligence  and an
additional 30 days to close the  transaction.  This  transaction is scheduled to
close on or before June 10, 1998, however, there can be no assurance,  until CFI
completes its due diligence, that the transaction will be close.

     On July 3,  1997 the  Company  filed for  relief  under  Chapter  11 of the
Bankruptcy  Code,  due to the  inability  of the Company to generate  sufficient
funds to cover,  on a timely  basis all of its debts.  The  Company  was seeking
reorganization  of its debts.  Also  filing  were  subsidiary  companies  Debbie
Reynolds  Management  Company and Debbie Reynolds  Resorts,  Inc. In addition to
filing personal  bankruptcy  under Chapter 11, Miss Debbie Reynolds  resigned as
Chairman  of the  Board,  Director  and an Officer  of Debbie  Reynolds  Hotel &
Casino,  Inc., Debbie Reynolds  Management  Company and Debbie Reynolds Resorts,
Inc.

For more information, please call Todd Fisher, CEO, (702) 734-0711.