<PAGE>
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
{X} Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities
Exchange Act of 1934 for the period ended September 30, 1995
OR
{ } Transition Report Pursuant to Section 13 or 15 (d) of the Securities
Exchange Act of 1934
Commission file number: 1-8540
BALLY'S PARK PLACE, INC.
(Exact name of registrant as specified in its charter)
Delaware 36-3432384
(State or other jurisdiction (I.R.S. Employer
of incorporation or Identification No.)
organization)
Park Place & The Boardwalk
Atlantic City, New Jersey 08401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (609) 340-2000
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes X No
At October 31, 1995, all 100 outstanding shares of the registrant's common
stock were held by Bally's Casino Holdings, Inc., an indirect wholly owned
subsidiary of Bally Entertainment Corporation.
The registrant meets the conditions set forth in General Instruction H (1) (a)
and (b) of Form 10-Q and is therefore filing this form with the reduced
disclosure format.
<PAGE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
INDEX
Page
Number
PART I. FINANCIAL INFORMATION:
Item 1. Financial Statements
Condensed Consolidated Balance Sheet (Unaudited)
September 30, 1995 and December 31, 1994. . . . . . . . . 1
Consolidated Statement of Operations (Unaudited)
Nine Months Ended September 30, 1995 and 1994 . . . . . . 2
Consolidated Statement of Operations (Unaudited)
Three Months Ended September 30, 1995 and 1994. . . . . . 3
Consolidated Statement of Stockholder's Equity (Unaudited)
Nine Months Ended September 30, 1995. . . . . . . . . . . 4
Consolidated Statement of Cash Flows (Unaudited)
Nine Months Ended September 30, 1995 and 1994 . . . . . . 5
Notes to Condensed Consolidated Financial
Statements (Unaudited). . . . . . . . . . . . . . . . . . 7
Item 2. Management's Discussion and Analysis of Results of
Operations . . . . . . . . . . . . . . . . . . . . . . 9
PART II. OTHER INFORMATION:
Item 6. Exhibits and Reports on Form 8-K . . . . . . . . . . . . 11
SIGNATURE PAGE. . . . . . . . . . . . . . . . . . . . . . . . . . . 12
<PAGE>
<TABLE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
CONDENSED CONSOLIDATED BALANCE SHEET
(In thousands)
(Unaudited)
<CAPTION>
September 30, December 31,
1995 1994
------------ -----------
ASSETS
<S> <C> <C>
Current assets:
Cash and equivalents. . . . . . . . . . . . $ 15,565 $ 13,949
Receivables, less allowances
of $1,655 and $1,167. . . . . . . . . . 5,703 5,845
Income taxes receivable from Bally
Entertainment Corporation . . . . . . . 4,128 5,378
Inventories . . . . . . . . . . . . . . . . 2,147 2,228
Prepaid expenses. . . . . . . . . . . . . . 3,105 1,748
Deferred income taxes . . . . . . . . . . . 8,145 6,972
-------- --------
Total current assets . . . . . . . . . . . 38,793 36,120
Property and equipment, less accumulated
depreciation of $329,097 and $309,672 . . . 469,295 483,369
Deferred finance costs, less accumulated
amortization of $2,469 and $1,270 . . . . . 12,429 13,628
Casino Reinvestment Development Authority
investment obligations. . . . . . . . . . . 12,647 11,681
Other assets. . . . . . . . . . . . . . . . . 1,676 1,516
-------- --------
$534,840 $546,314
======== ========
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Accounts payable . . . . . . . . . . . . . . $ 1,717 $ 2,805
Payable to affiliates. . . . . . . . . . . . 670 707
Income taxes payable . . . . . . . . . . . . 3,202 1,159
Accrued liabilities. . . . . . . . . . . . . 31,323 37,951
Current maturities of long-term debt . . . . 48 47
-------- --------
Total current liabilities . . . . . . . . . 36,960 42,669
Long-term debt, less current maturities. . . . 427,568 427,641
Deferred income taxes. . . . . . . . . . . . . 44,656 41,306
Pension liability. . . . . . . . . . . . . . . 2,571 9,866
Other long-term liabilities. . . . . . . . . . 926 859
Stockholder's equity.. . . . . . . . . . . . . 22,159 23,973
-------- --------
$534,840 $546,314
======== ========
<FN>
See accompanying notes.
</TABLE>
<TABLE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands)
(Unaudited)
<CAPTION>
Nine Months Ended September 30,
------------------------------
1995 1994
-------- --------
<S> <C> <C>
Revenues:
Casino . . . . . . . . . . . . . . . . $273,189 $241,448
Rooms. . . . . . . . . . . . . . . . . 17,581 19,408
Food and beverage. . . . . . . . . . . 15,214 15,538
Other. . . . . . . . . . . . . . . . . 9,315 7,592
-------- --------
315,299 283,986
Costs and expenses:
Casino . . . . . . . . . . . . . . . . 105,417 96,431
Rooms. . . . . . . . . . . . . . . . . 7,423 8,116
Food and beverage. . . . . . . . . . . 13,682 14,213
Other operating expenses . . . . . . . 44,315 42,264
Selling, general and administrative. . 28,187 25,184
Depreciation and amortization. . . . . 21,344 23,450
Allocations from Bally Entertainment
Corporation. . . . . . . . . . . . . 3,705 3,807
-------- --------
224,073 213,465
-------- --------
Operating income . . . . . . . . . . . . 91,226 70,521
Interest expense . . . . . . . . . . . . 31,180 31,547
-------- --------
Income before income taxes and
extraordinary item . . . . . . . . . . 60,046 38,974
Provision for income taxes . . . . . . 25,760 15,500
-------- --------
Income before extraordinary item . . . . 34,286 23,474
Extraordinary loss on extinguishment
of debt . . . . . . . . . . . . . . . --- (20,735)
-------- --------
Net income . . . . . . . . . . . . . . . $ 34,286 $ 2,739
======== ========
<FN>
See accompanying notes.
</TABLE>
<PAGE>
<TABLE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands)
(Unaudited)
<CAPTION>
Three Months Ended September 30,
--------------------------------
1995 1994
-------- --------
<S> <C> <C>
Revenues:
Casino . . . . . . . . . . . . . . . . $102,482 $ 94,832
Rooms. . . . . . . . . . . . . . . . . 7,201 8,154
Food and beverage. . . . . . . . . . . 5,685 5,922
Other. . . . . . . . . . . . . . . . . 3,628 2,642
-------- --------
118,996 111,550
Costs and expenses:
Casino . . . . . . . . . . . . . . . . 37,440 35,219
Rooms. . . . . . . . . . . . . . . . . 2,666 2,924
Food and beverage. . . . . . . . . . . 5,006 5,349
Other operating expenses . . . . . . . 15,605 14,808
Selling, general and administrative. . 10,887 8,776
Depreciation and amortization. . . . . 7,434 8,032
Allocations from Bally Entertainment
Corporation. . . . . . . . . . . . . 1,263 2,240
-------- --------
80,301 77,348
-------- --------
Operating income . . . . . . . . . . . . 38,695 34,202
Interest expense . . . . . . . . . . . . 10,390 10,269
-------- --------
Income before income taxes . . . . . . . 28,305 23,933
Provision for income taxes . . . . . . . 12,140 9,400
-------- --------
Net income . . . . . . . . . . . . . . . $ 16,165 $ 14,533
======== ========
<FN>
See accompanying notes.
</TABLE>
<TABLE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY
(In thousands, except share data)
(Unaudited)
<CAPTION>
Number Additional Total
of shares Common paid-in Retained stockholder's
issued stock capital earnings equity
--------- ------- ---------- --------- -------------
<S> <C> <C> <C> <C> <C>
Balance at December 31, 1994 . . . . . 100 $ 1 $ 23,972 $ --- $ 23,973
Net income . . . . . . . . . . . . --- --- --- 34,286 34,286
Dividends paid . . . . . . . . . . --- --- (1,814) (34,286) (36,100)
----- ----- -------- -------- --------
Balance at September 30, 1995. . . . . 100 $ 1 $ 22,158 $ --- $ 22,159
===== ===== ======== ======== ========
<FN>
See accompanying notes.
</TABLE>
<TABLE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
CONSOLIDATED STATEMENT OF CASH FLOWS
(In thousands)
(Unaudited)
<CAPTION>
Nine Months Ended September 30,
------------------------------
1995 1994
-------- --------
<S> <C> <C>
Operating:
Income before extraordinary item . . . . . $ 34,286 $ 23,474
Adjustments to reconcile to cash provided-
Depreciation and amortization. . . . . . 21,344 23,450
Other amortization included in interest
expense. . . . . . . . . . . . . . . . 1,199 1,192
Provision for doubtful receivables . . . 1,009 98
Deferred income taxes. . . . . . . . . . 2,177 9,662
Gain on settlement of supplemental
executive retirement plan. . . . . . . (1,800) ---
Change in operating assets and
liabilities. . . . . . . . . . . . . . (12,191) (13,317)
-------- --------
Cash provided by operating activities 46,024 44,559
Investing:
Purchases of property and equipment. . . . (7,219) (15,523)
Proceeds from disposal of property and
equipment 372 559
Purchases of Casino Reinvestment
Development Authority investment
obligations, net . . . . . . . . . . . . (1,389) (996)
-------- --------
Cash used in investing activities. . (8,236) (15,960)
Financing:
Debt transactions -
Net repayments under revolving
credit agreement . . . . . . . . . . --- (2,000)
Proceeds from issuance of long-term
debt . . . . . . . . . . . . . . . . . --- 425,000
Repayments of long-term debt . . . . . . (72) (377,729)
Debt issuance costs. . . . . . . . . . . --- (14,898)
-------- --------
Cash provided by (used in) debt
transactions . . . . . . . . . . . (72) 30,373
Equity transactions -
Dividends paid . . . . . . . . . . . . . (36,100) (55,595)
-------- --------
Cash used in
financing activities . . . . . . . (36,172) (25,222)
-------- --------
Increase in cash and equivalents . . . . . . 1,616 3,377
Cash and equivalents, beginning of period. . 13,949 12,295
-------- --------
Cash and equivalents, end of period. . . . . $ 15,565 $ 15,672
======== ========
<FN>
(Continued)
</TABLE>
<TABLE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
CONSOLIDATED STATEMENT OF CASH FLOWS
(In thousands)
(Unaudited)
<CAPTION>
Nine Months Ended September 30,
------------------------------
1995 1994
-------- --------
SUPPLEMENTAL CASH FLOWS INFORMATION
<S> <C> <C>
Changes in operating assets and liabilities:
(Increase) decrease in receivables . . . . $ (867) $ 313
(Increase) decrease in income taxes
receivable from Bally Entertainment
Corporation . . . . . . . . . . . . . . 1,250 (5,587)
(Increase) decrease in inventories . . . . 81 (444)
Increase in prepaid expenses
and other assets . . . . . . . . . . . . (1,517) (817)
Decrease in accounts payable,
payable to affiliates, accrued
liabilities and long-term liabilities. . (7,686) (15,166)
Increase in income taxes payable . . . . . 2,043 8,575
Decrease in pension liability . . . . . (5,495) (191)
-------- --------
$(12,191) $(13,317)
======== ========
Cash payments for interest and income taxes:
Interest paid. . . . . . . . . . . . . . . $ 40,076 $ 44,542
Interest capitalized . . . . . . . . . . . (43) (317)
Income taxes paid (net of refunds) . . . . 20,290 2,850
<FN>
See accompanying notes.
</TABLE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In thousands)
(Unaudited)
Basis of presentation
The accompanying condensed consolidated financial statements include the
accounts of Bally's Park Place, Inc., a Delaware corporation (the "Company"),
which is an indirect wholly owned subsidiary of Bally Entertainment
Corporation ("BEC"), and its subsidiaries. The Company owns and operates the
casino hotel resort in Atlantic City, New Jersey known as "Bally's Park Place
Casino Hotel and Tower." Unless otherwise specified in the text, references
to the Company include the Company and its subsidiaries. These condensed
consolidated financial statements should be read in conjunction with the
consolidated financial statements included in the Company's Annual Report on
Form 10-K for the year ended December 31, 1994.
All adjustments have been recorded which are, in the opinion of management,
necessary for a fair presentation of the condensed consolidated balance sheet
of the Company at September 30, 1995, its consolidated statements of
operations for the three and nine months ended September 30, 1995 and 1994,
its consolidated statement of stockholder's equity for the nine months ended
September 30, 1995 and its consolidated statement of cash flows for the nine
months ended September 30, 1995 and 1994. All such adjustments were of a
normal recurring nature, except for those adjustments in March 1994 to reflect
the refinancing of indebtedness (see "Long-term debt").
Certain reclassifications have been made to prior period financial statements
to conform with the 1995 presentation.
Seasonal factors
The Company's operations are subject to seasonal factors and, therefore, the
results of operations for the three and nine months ended September 30, 1995
and 1994 are not necessarily indicative of the results of operations for the
full year.
Allocations from BEC and transactions with related parties
BEC allocates costs to the Company consisting of the Company's allocable share
of BEC's corporate overhead including executive salaries and benefits, public
company reporting costs and other corporate headquarter's costs. While the
Company does not obtain a measurable direct benefit from these allocated
costs, management believes that the Company receives an indirect benefit from
BEC's oversight. BEC's method for allocating costs is designed to apportion
the majority of its operating costs to its subsidiaries and is generally based
upon many subjective factors including various measures of operational size
and extent of BEC's oversight requirements. Management of BEC believes that
the methods used to allocate these costs are reasonable and expects similar
allocations in future years. Because of BEC's controlling relationship with
the Company and the allocation of certain BEC costs, the operating results of
the Company could be significantly different if the Company operated
autonomously. In addition, certain of the Company's insurance coverage is
arranged by BEC pursuant to corporate-wide programs. In these circumstances,
BEC charges the Company its proportionate share of the respective insurance
premiums.
Certain executive officers of the Company function in a similar capacity for
GNAC, CORP. (a wholly owned subsidiary of BEC which owns and operates the
casino hotel resort in Atlantic City known as the "The Grand"), and exercise
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In thousands)
(Unaudited)
decision-making and operational authority over both entities. No allocation
of cost is made from the Company to The Grand for these executive officers as
management deems the direct allocable cost to be immaterial. In addition,
certain administrative and support operations of the Company and The Grand are
consolidated, including limousine services, legal services and purchasing.
Costs of these operations are allocated to or from the Company either directly
or using various formulas based on estimates of utilization of such services.
On a net basis, allocations to The Grand were $107 and $33 for the three
months ended September 30, 1995 and 1994, respectively, and $244 and $126 for
the nine months ended September 30, 1995 and 1994, respectively, which
management believes were reasonable. The Company also leases surface area
parking lots to The Grand, and rental income for each of the three and nine
month periods ended September 30, 1995 and 1994 was $174 and $522,
respectively.
Long-term debt
In March 1994, the Company issued $425,000 principal amount of 9 1/4%
First Mortgage Notes due 2004 (the "9 1/4% Notes"). The Company used the net
proceeds from the sale of the 9 1/4% Notes to retire and defease its 11 7/8%
First Mortgage Notes due 1999 (the "11 7/8% Notes") and pay dividends of
$30,214. The retirement and defeasance of the 11 7/8% Notes resulted in an
extraordinary loss of $20,735, net of an income tax benefit of $14,137.
The indenture for the 9 1/4% Notes and the $50,000 revolving credit facility
(the entire amount was unused at September 30, 1995) impose restrictions on
the Company's ability to incur debt and issue preferred stock, make
acquisitions and certain restricted payments, create liens, sell assets or
enter into transactions with affiliates. The indenture for the 9 1/4% Notes
and the $50,000 revolving credit facility also limit dividends paid by the
Company which are not paid pursuant to a net income test (generally limited
to 50% of aggregate net income, as defined, earned since April 1, 1994) to
$50,000 in aggregate, of which $25,000 was paid in each of the third quarters
of 1995 and 1994. Pursuant to the net income test, $8,102 was available at
September 30, 1995 to be paid as dividends.
Income taxes
Taxable income or loss of the Company is included in the consolidated federal
income tax return of BEC. Under agreements between the Company, BEC and
Bally's Casino Holdings, Inc., income taxes are allocated to the Company based
on amounts the Company would pay or receive if it filed a separate
consolidated federal income tax return, except that the Company receives
credit from BEC for the tax benefit of the Company's net operating losses and
tax credits, if any, that can be utilized in BEC's consolidated federal income
tax return, regardless of whether these losses or credits could be utilized
by the Company on a separate consolidated federal income tax return basis.
Payments to BEC for tax liabilities are due at such time and in such amounts
as payments would be required to be made to the Internal Revenue Service.
Payments from BEC for tax benefits are due at the time BEC files the
applicable consolidated federal income tax return.
Guarantee
At September 30, 1995, the Company was contingently liable for the guarantee
of payments (up to $20,800) in the event certain affiliates fail to make
required payments pursuant to various contractual obligations.
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
Comparison of the Nine Months Ended September 30, 1995 and 1994
Revenues of the Company for the nine months ended September 30, 1995 were
$315.3 million compared to $284.0 million for the 1994 period, an increase of
$31.3 million (11%). Casino revenues for 1995 were $273.2 million compared
to $241.4 million in 1994, an increase of $31.8 million (13%). Slot revenues
increased $26.8 million (16%) due to a 21% increase in slot handle (volume)
offset, in part, by a decline in the win percentage from 8.9% in 1994 to 8.5%
in 1995. As part of a casino reconfiguration, the Company reduced its number
of slot machines appproximately 1% since September 30, 1994 providing
increased aisle space for the comfort of slot players. Slot revenues
represented 70% of the Company's casino revenues in 1995 compared to 68% in
1994. Table game revenues, excluding poker, increased $3.8 million (5%) due
to a 9% increase in the drop (amount wagered) offset, in part, by a decrease
in the hold percentage from 17.0% in 1994 to 16.4% in 1995. Other casino
revenues increased $1.2 million (26%) due primarily to the introduction of
horse race simulcasting and keno in June 1994. Rooms revenues decreased $1.8
million (9%) due to increased complimentaries in 1995 causing reduced
occupancy of rooms by paying customers. Other revenues increased $1.7 million
(23%) principally due to increased special event revenues and interest income.
Atlantic City casino revenues (excluding poker, horse race simulcasting and
keno) for all operators for the nine months ended September 30, 1995 increased
approximately 11% from 1994 due to a 13% increase in slot revenues and a 5%
increase in table game revenues. Revenues during the first quarter of 1994
were negatively affected by severe weather in the northeastern United States.
Since September 30, 1994, the number of slot machines in Atlantic City
increased approximately 8% and the number of table games, excluding poker
tables, increased approximately 1%. Slot revenues represented 69% and 67% of
total casino revenues in Atlantic City for the 1995 and 1994 periods,
respectively. Management believes that the increased number of slot machines
in Atlantic City has caused and will continue to cause intense promotional
efforts to attract slot players as both the Company and its competitors
continue to seek to expand their share of slot revenues and maximize the
utilization of their slot machines. Further, as a result of the aggressive
competition for slot patrons, the Atlantic City slot win percentage has
declined. Management believes that the slot win percentage will continue to
be subject to competitive pressure and may decline further. However, the
Company believes it is well-positioned to compete for additional casino
revenues by continuing to offer attractive promotional slot and table game
programs and special events (including headliner entertainment and
championship boxing) and by enhancing the appearance and comfort of its gaming
space. In 1994, the Company expanded its casino floor from 68,100 to 71,400
square feet and added another 8,700 square feet of gaming space to offer horse
race simulcasting and keno, and to relocate and expand its poker operations.
During the first quarter of 1995, the Company completed a slot machine
upgrade, replacing the majority of its slot machines with state-of-the-art
machines with embedded bill acceptors, and reconfigured its slot machine
layout, adding additional slot stools and aisle space. In addition, the
Company has announced its intention to develop a western-themed casino on
Boardwalk property it owns adjacent to its existing facility. The complex is
presently planned to include approximately 60,000 to 80,000 square feet of
casino space and cost between $80 and $100 million, with groundbreaking
expected in early 1996. The planned expansion is subject to regulatory
approval.
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
Operating income of the Company for the nine months ended September 30, 1995
was $91.2 million compared to $70.5 million for the 1994 period, an increase
of $20.7 million (29%) as the aforementioned 11% revenue increase was offset,
in part, by a 5% increase in operating expenses. Casino expenses increased
$9.0 million (9%) due to expanded marketing and promotional efforts, increased
gaming taxes associated with higher gaming revenues and an increase in
salaries, benefits and other costs associated with the operation of horse race
simulcasting and keno in 1995. Rooms expense decreased $.7 million (9%) as
the cost associated with complimentary room occupancy (which increased) is
classified as casino expenses. Other operating expenses increased $2.1
million (5%) principally due to increased real estate taxes and entertainment
costs. Selling, general and administrative expenses increased $3.0 million
(12%) primarily due to increased legal, advertising, promotional and insurance
costs offset, in part, by a gain on the settlement of a supplemental executive
retirement plan in 1995. Depreciation and amortization expense decreased $2.1
million (9%) primarily due to the 1994 period including accelerated
depreciation associated with the aforementioned slot machine upgrade and
certain assets becoming fully depreciated in 1994. Operating costs and
expenses include allocations from BEC of its overhead (including executive
salaries and benefits, public company reporting costs and other corporate
headquarter's costs) of $3.7 million and $3.8 million for the nine months
ended September 30, 1995 and 1994, respectively. Management of BEC believes
that the methods used to allocate these costs are reasonable and expects
similar allocations, subject to changes in circumstances which may warrant
modification, in future years.
Interest expense was $31.2 million for the nine months ended September 30,
1995 compared to $31.5 million for the 1994 period. The decrease of $.3
million (1%) reflects the March 1994 refinancing of substantially all of the
Company's long-term debt at a more favorable rate offset, in part, by reduced
capitalized interest in 1995.
For the nine months ended September 30, 1995 and 1994, the effective rates of
the income tax provision varied from the U.S. statutory tax rate (35%) due
principally to state income taxes.
<PAGE>
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally Entertainment Corporation)
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits.
Exhibit 27 Financial Data Schedule. (Filed electronically only.)
(b) Reports on Form 8-K.
None.
<PAGE>
SIGNATURE PAGE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Bally's Park Place, Inc.
----------------------------
Registrant
/s/ Joseph A. D'Amato
----------------------------
Joseph A. D'Amato
Vice President of Finance
and Administration
(Principal Financial Officer)
Dated: November 14, 1995
12
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED CONSOLIDATED BALANCE SHEET AT SEPTEMBER 30, 1995, AND THE
CONSOLIDATED STATEMENT OF OPERATIONS AND THE CONSOLIDATED STATEMENT OF
STOCKHOLDER'S EQUITY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1995
<CASH> 15,565
<SECURITIES> 0
<RECEIVABLES> 7,358
<ALLOWANCES> 1,655
<INVENTORY> 2,147
<CURRENT-ASSETS> 38,793
<PP&E> 798,392
<DEPRECIATION> 329,097
<TOTAL-ASSETS> 534,840
<CURRENT-LIABILITIES> 36,960
<BONDS> 427,568
<COMMON> 1
0
0
<OTHER-SE> 22,158
<TOTAL-LIABILITY-AND-EQUITY> 534,840
<SALES> 0
<TOTAL-REVENUES> 315,299
<CGS> 0
<TOTAL-COSTS> 169,828
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 1,009<F1>
<INTEREST-EXPENSE> 31,180
<INCOME-PRETAX> 60,046
<INCOME-TAX> 25,760
<INCOME-CONTINUING> 34,286
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 34,286
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
<FN>
<F1>
THE PROVISION FOR DOUBTFUL RECEIVABLES IS INCLUDED IN CASINO COSTS AND
EXPENSES IN THE CONSOLIDATED STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED
SEPTEMBER 30, 1995.
</FN>
</TABLE>
