Prepared by MERRILL CORPORATION www.edgaradvantage.com

NOTICE OF GUARANTEED DELIVERY
Offer to exchange its
10³/4% Senior Subordinated Notes due 2009,
which have been registered under the Securities Act of 1933,
as amended, for any and all of its
outstanding 10³/4% Senior Subordinated Notes due 2009
Pursuant to the Prospectus dated , 2001

This form or one substantially equivalent hereto must be used to accept the Exchange Offer of Argosy Gaming Company, a Delaware corporation (the "Issuer"), made pursuant to the Prospectus, dated , 2001 (the "Prospectus"), if certificates for the outstanding 10³/4% Senior Subordinated Notes due 2009 of the Issuer (the "Restricted Notes") are not immediately available or if the procedure for book-entry transfer cannot be completed on a timely basis or time will not permit all required documents to reach the Issuer prior to 5:00 p.m., New York City time, on the Expiration Date of the Exchange Offer. Such form may be delivered or transmitted by telegram, telex, facsimile transmission, mail or hand delivery to Bank One Trust Company, NA (the "Exchange Agent") as set forth below. In addition, in order to utilize the guaranteed delivery procedure to tender Restricted Notes pursuant to the Exchange Offer, a completed, signed and dated Letter of Transmittal (or facsimile thereof) must also be received by the Exchange Agent prior to 5:00 p.m., New York City time, on the Expiration Date. Capitalized terms not defined herein are defined in the Prospectus.

By Mail or Overnight Delivery:
Bank One Trust Company, NA
Corporate Trust Operations
1111 Polaris Parkway
Suite N1-OH1-0184
Columbus, Ohio 43240
Attention: Ms. Lora Marsch

By Hand Delivery:
Bank One Trust Company, NA
c/o First Chicago Corporate Trust Services
14 Wall Street
8th Floor
New York, New York 10005

DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE, OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE OTHER THAN AS SET FORTH ABOVE, WILL NOT CONSTITUTE A VALID DELIVERY.

The undersigned hereby tenders to the Issuer, upon the terms and conditions set forth in the Prospectus and the Letter of Transmittal (which together constitute the "Exchange Offer"), receipt of which are hereby acknowledged, the principal amount of Restricted Notes set forth below pursuant to the guaranteed delivery procedures described in the Prospectus and the Letter of Transmittal.

The undersigned understands and acknowledges that the Exchange Offer will expire at 5:00 p.m., New York City time, on , 2001, unless extended by the Issuer. With respect to the Exchange Offer, "Expiration Date" means such time and date, or if the Exchange Offer is extended, the latest time and date to which the Exchange Offer is so extended by the Issuer.

All authority herein conferred or agreed to be conferred by this Notice of Guaranteed Delivery shall survive the death or incapacity of the undersigned and every obligation of the undersigned under this Notice of Guaranteed Delivery shall be binding upon the heirs, personal representatives, executors, administrators, successors, assigns, trustees in bankruptcy and other legal representatives of the undersigned.

The undersigned, a member of a registered national securities exchange, or a member of the National Association of Securities Dealers, Inc., or a clearing agency, insured credit union, a savings association or a commercial bank or trust company having an office or correspondent in the United States, hereby guarantees that the certificates representing the principal amount of Restricted Notes tendered hereby in proper form for transfer, or timely confirmation of the book-entry transfer of such Restricted Notes into the Exchange Agent's account at The Depository Trust Company pursuant to the procedures set forth in "The Exchange Offer — Procedures for Tendering Restricted Notes" section of the Prospectus, together with a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof) with any required signature guarantee and any other documents required by the Letter of Transmittal, will be received by the Exchange Agent at the address set forth above, no later than three New York Stock Exchange trading days after the date of execution hereof.

NOTE: DO NOT SEND RESTRICTED NOTE CERTIFICATES WITH THIS FORM. CERTIFICATES FOR RESTRICTED NOTES SHOULD BE SENT WITH THE LETTER OF TRANSMITTAL.

SIGNATURES
Signature of Owner
Signature of Owner (if more than one)
Dated:		, 2001
Name(s):

	(Please Print)
Address:


	(Include Zip Code)
Area Code and Telephone No.:
Capacity (full title), if signing in a representative capacity:

Taxpayer Identification or Social Security No.:



Principal amount of Restricted Notes
Exchanged: $
Certificate Nos. of Restricted Notes (if available)



Total $
IF RESTRICTED NOTES WILL BE DELIVERED BY BOOK-ENTRY TRANSFER, PROVIDE THE DEPOSITORY TRUST COMPANY ("DTC") ACCOUNT NO.:
Account No.

Area Code and Telephone No.:


Authorized Signature
Name:
	Please Print
Title:
Date:		, 2001

Name of Firm:
Address: