<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 Exch
ange Act of 1934 for the period ended June 30, 1995
OR
{ } Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exch
ange 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 July 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)
June 30, 1995 and December 31, 1994. . . . . . . . . . . 1
Consolidated Statement of Operations (Unaudited)
Six Months Ended June 30, 1995 and 1994. . . . . . . . . 2
Consolidated Statement of Operations (Unaudited)
Three Months Ended June 30, 1995 and 1994. . . . . . . . 3
Consolidated Statement of Stockholder's Equity (Unaudited)
Six Months Ended June 30, 1995 . . . . . . . . . . . . . 4
Consolidated Statement of Cash Flows (Unaudited)
Six Months Ended June 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>
June 30, December 31,
1995 1994
--------- -----------
ASSETS
<S> <C> <C>
Current assets:
Cash and equivalents. . . . . . . . . . . . $ 33,742 $ 13,949
Receivables, less allowances
of $1,500 and $1,167. . . . . . . . . . 5,661 5,845
Income taxes receivable from Bally
Entertainment Corporation . . . . . . . 4,129 5,378
Inventories . . . . . . . . . . . . . . . . 2,390 2,228
Prepaid expenses. . . . . . . . . . . . . . 2,210 1,748
Deferred income taxes . . . . . . . . . . . 8,016 6,972
-------- --------
Total current assets . . . . . . . . . . . 56,148 36,120
Property and equipment, less accumulated
depreciation of $323,009 and $309,672 . . . 473,858 483,369
Deferred finance costs, less accumulated
amortization of $2,069 and $1,270 . . . . . 12,829 13,628
Casino Reinvestment Development Authority
investment obligations. . . . . . . . . . . 12,664 11,681
Other assets. . . . . . . . . . . . . . . . . 1,633 1,516
-------- --------
$557,132 $546,314
======== ========
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Accounts payable . . . . . . . . . . . . . . $ 1,352 $ 2,805
Payable to affiliates. . . . . . . . . . . . 2,712 707
Income taxes payable . . . . . . . . . . . . 2,659 1,159
Accrued liabilities. . . . . . . . . . . . . 38,463 37,951
Current maturities of long-term debt . . . . 48 47
-------- --------
Total current liabilities . . . . . . . . . 45,234 42,669
Long-term debt, less current maturities. . . . 427,614 427,641
Deferred income taxes. . . . . . . . . . . . . 38,781 41,306
Pension liability. . . . . . . . . . . . . . . 8,005 9,866
Other long-term liabilities. . . . . . . . . . 904 859
Stockholder's equity.. . . . . . . . . . . . . 36,594 23,973
-------- --------
$557,132 $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>
Six Months Ended June 30,
------------------------
1995 1994
-------- --------
<S> <C> <C>
Revenues:
Casino . . . . . . . . . . . . . . . . $170,707 $146,616
Rooms. . . . . . . . . . . . . . . . . 10,380 11,254
Food and beverage. . . . . . . . . . . 9,529 9,616
Other. . . . . . . . . . . . . . . . . 5,687 4,950
-------- --------
196,303 172,436
Costs and expenses:
Casino . . . . . . . . . . . . . . . . 67,977 61,212
Rooms. . . . . . . . . . . . . . . . . 4,757 5,192
Food and beverage. . . . . . . . . . . 8,676 8,864
Other operating expenses . . . . . . . 28,710 27,456
Selling, general and administrative. . 17,300 16,408
Depreciation and amortization. . . . . 13,910 15,418
Allocations from Bally Entertainment
Corporation. . . . . . . . . . . . . 2,442 1,567
-------- --------
143,772 136,117
-------- --------
Operating income . . . . . . . . . . . . 52,531 36,319
Interest expense . . . . . . . . . . . . 20,790 21,278
-------- --------
Income before income taxes and
extraordinary item . . . . . . . . . . 31,741 15,041
Provision for income taxes . . . . . . 13,620 6,100
-------- --------
Income before extraordinary item . . . . 18,121 8,941
Extraordinary loss on extinguishment
of debt . . . . . . . . . . . . . . . --- (20,735)
-------- --------
Net income (loss). . . . . . . . . . . . $ 18,121 $(11,794)
======== ========
<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 June 30,
--------------------------
1995 1994
------- -------
<S> <C> <C>
Revenues:
Casino . . . . . . . . . . . . . . . . $ 90,067 $ 80,902
Rooms. . . . . . . . . . . . . . . . . 5,829 6,741
Food and beverage. . . . . . . . . . . 5,227 5,503
Other. . . . . . . . . . . . . . . . . 2,881 2,909
-------- --------
104,004 96,055
Costs and expenses:
Casino . . . . . . . . . . . . . . . . 34,363 32,062
Rooms. . . . . . . . . . . . . . . . . 2,472 2,873
Food and beverage. . . . . . . . . . . 4,720 5,017
Other operating expenses . . . . . . . 14,619 13,794
Selling, general and administrative. . 9,673 6,628
Depreciation and amortization. . . . . 6,969 8,133
Allocations from Bally Entertainment
Corporation. . . . . . . . . . . . . 957 466
-------- --------
73,773 68,973
-------- --------
Operating income . . . . . . . . . . . . 30,231 27,082
Interest expense . . . . . . . . . . . . 10,393 10,305
-------- --------
Income before income taxes . . . . . . . 19,838 16,777
Provision for income taxes . . . . . . . 8,620 6,804
-------- --------
Net income . . . . . . . . . . . . . . . $ 11,218 $ 9,973
======== ========
<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 . . . . . . . . . . . . --- --- --- 18,121 18,121
Dividends paid . . . . . . . . . . --- --- --- (5,500) (5,500)
----- ----- -------- -------- --------
Balance at June 30, 1995 . . . . . . . 100 $ 1 $ 23,972 $ 12,621 $ 36,594
===== ===== ======== ======== ========
<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>
Six Months Ended June 30,
------------------------
1995 1994
-------- --------
<S> <C> <C>
Operating:
Income before extraordinary item . . . . . $ 18,121 $ 8,941
Adjustments to reconcile to cash provided-
Depreciation and amortization. . . . . . 13,910 15,418
Other amortization included in interest
expense. . . . . . . . . . . . . . . . 799 780
Provision for doubtful receivables . . . 503 (73)
Deferred income taxes. . . . . . . . . . (3,569) 559
Gain on settlement of supplemental
executive retirement plan. . . . . . . (1,800) ---
Change in operating assets and
liabilities. . . . . . . . . . . . . . 2,737 (4,520)
-------- --------
Cash provided by operating activities 30,701 21,105
Investing:
Purchases of property and equipment. . . . (4,377) (9,636)
Proceeds from disposal of property and
equipment 8 195
Purchases of Casino Reinvestment
Development Authority investment
obligations, net . . . . . . . . . . . . (1,013) (515)
-------- --------
Cash used in investing activities. . (5,382) (9,956)
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 . . . . . . (26) (377,716)
Debt issuance costs. . . . . . . . . . . --- (14,631)
-------- --------
Cash provided by (used in) debt
transactions . . . . . . . . . . . (26) 30,653
Equity transactions -
Dividends paid . . . . . . . . . . . . . (5,500) (30,595)
-------- --------
Cash provided by (used in)
financing activities . . . . . . . (5,526) 58
-------- --------
Increase in cash and equivalents . . . . . . 19,793 11,207
Cash and equivalents, beginning of period. . 13,949 12,295
-------- --------
Cash and equivalents, end of period. . . . . $ 33,742 $ 23,502
======== ========
<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>
Six Months Ended June 30,
-------------------------
1995 1994
--------- --------
SUPPLEMENTAL CASH FLOWS INFORMATION
<S> <C> <C>
Changes in operating assets and liabilities:
(Increase) decrease in receivables . . . . $ (319) $ 1,104
(Increase) decrease in income taxes
receivable from Bally Entertainment
Corporation . . . . . . . . . . . . . . 1,249 (5,587)
Increase in inventories. . . . . . . . . . (162) (446)
Increase in prepaid expenses
and other assets . . . . . . . . . . . . (579) (2,483)
Increase (decrease) in accounts payable,
payable to affiliates, accrued
liabilities and long-term liabilities. . 1,048 (5,683)
Increase in income taxes payable . . . . . 1,500 8,575
-------- --------
$ 2,737 $ (4,520)
======== ========
Operating activities include cash payments
for interest and income taxes:
Interest paid. . . . . . . . . . . . . . . $ 20,260 $ 23,855
Interest capitalized . . . . . . . . . . . (21) (155)
Income taxes paid (net of refunds) . . . . 14,440 2,553
Investing activities exclude the following
non-cash activity:
Donation of Casino Reinvestment
Development Authority investment
obligations, net . . . . . . . . . . . . $ 393 $ 245
<FN>
See accompanying notes.
</TABLE>
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 June 30, 1995, its consolidated statements of
operations for the three and six months ended June 30, 1995 and 1994, its
consolidated statement of stockholder's equity for the six months ended June
30, 1995 and its consolidated statement of cash flows for the six months ended
June 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 six months ended June 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 headquarters' 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
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 $76 and $37 for the three months
ended June 30, 1995 and 1994, respectively, and $137 and $93 for the six
months ended June 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 six month periods ended
June 30, 1995 and 1994 was $174 and $348, 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 available at June 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 August 1994 and
$15,000 was paid in July 1995. Pursuant to the net income test, $5,619 was
available at June 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 June 30, 1995, the Company was contingently liable for the guarantee
of payments (up to $21,300) 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 Six Months Ended June 30, 1995 and 1994
Revenues of the Company for the six months ended June 30, 1995 were
$196.3 million compared to $172.4 million for the 1994 period, an increase of
$23.9 million (14%). Casino revenues for 1995 were $170.7 million compared
to $146.6 million in 1994, an increase of $24.1 million (16%). Slot revenues
increased $20.0 million (20%) due to a 25% 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. The Company added 99 slot machines (a 5% increase) since June 30,
1994. Slot revenues represented 70% of the Company's casino revenues in 1995
compared to 68% in 1994. Table game revenues, excluding poker, increased $2.7
million (6%) due to a 10% increase in the drop (amount wagered) offset, in
part, by a decrease in the hold percentage from 16.9% in 1994 to 16.4% in
1995. Other casino revenues were $3.9 million for the 1995 period compared
to $2.5 million in 1994, an increase of $1.4 million due primarily to the
introduction of horse race simulcasting and keno in June 1994. Rooms revenue
decreased $.9 million (8%) due to increased complimentaries in 1995 causing
reduced occupancy of rooms by paying customers. Food and beverage revenues
remained essentially unchanged. Other revenues increased $.7 million (15%)
principally due to increased entertainment revenues and interest income
offset, in part, by lower dividends in 1995 from a multi-casino linked
progressive trust.
Atlantic City casino revenues (excluding poker, horse race simulcasting
and keno) for all operators for the six months ended June 30, 1995 increased
approximately 13% from 1994 due to a 16% increase in slot revenues and a 6%
increase in table game revenues. Revenues during the first quarter of 1994
were negatively affected by severe weather in the northeastern United States.
Since June 30, 1994, the number of slot machines in Atlantic City increased
approximately 12% and the number of table games, excluding poker tables,
increased approximately 2%. 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 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 further decline. 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 by enhancing the appearance and
comfort of its gaming space. In 1994, the Company expanded its casino floor
space 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 highly-themed,
western-style casino and entertainment complex on Boardwalk property adjacent
to its existing facility. The complex is presently planned to include
approximately 50,000 square feet of casino space and cost approximately $80.0
million, with groundbreaking expected in early 1996.
BALLY'S PARK PLACE, INC.
(An Indirect Wholly Owned Subsidiary of Bally E
ntertainment Corporation)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
Operating income of the Company for the six months ended June 30, 1995
was $52.5 million compared to $36.3 million for the 1994 period, an increase
of $16.2 million (45%) as the aforementioned revenue increase was offset, in
part, by a $7.7 million (6%) increase in operating expenses. The operating
margin (before depreciation and amortization) increased from 30% in the 1994
period to 34% in 1995. Casino expenses increased $6.8 million (11%) 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 $.4 million (8%) as the cost associated with
complimentary rooms (which increased) is classified as casino expenses. Food
and beverage expenses remained essentially unchanged. Other operating
expenses increased $1.3 million (5%) principally due to increased real estate
taxes and entertainment costs. Selling, general and administrative expenses
increased $.9 million (5%) primarily due to increased legal, insurance and
other costs offset, in part, by a $1.8 million gain on the settlement of a
supplemental executive retirement plan in 1995. Depreciation and amortization
expense decreased $1.5 million (10%) primarily due to the 1994 period
including accelerated depreciation associated with the slot machine upgrade
and a decline in 1995 of amortization of Casino Reinvestment Development
Authority donation credits. Operating costs and expenses include allocations
from BEC of its overhead (including executive salaries and benefits, public
company reporting costs and other corporate headquarters' costs) of $2.4
million and $1.6 million for the six months ended June 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 $20.8 million for the six months ended June 30, 1995
compared to $21.3 million for the 1994 period. The decrease of $.5 million
(2%) reflects the March 1994 refinancing of substantially all of the Company's
long-term debt at a more favorable rate.
For the six months ended June 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: August 14, 1995
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED CONSOLIDATED BALANCE SHEET AT JUNE 30, 1995, AND THE CONSOLIDATED
STATEMENT OF OPERATIONS AND THE CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY
FOR THE SIX MONTHS ENDED JUNE 30, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<CASH> 33,742
<SECURITIES> 0
<RECEIVABLES> 7,161
<ALLOWANCES> 1,500
<INVENTORY> 2,390
<CURRENT-ASSETS> 56,148
<PP&E> 796,867
<DEPRECIATION> 323,009
<TOTAL-ASSETS> 557,132
<CURRENT-LIABILITIES> 45,234
<BONDS> 427,614
<COMMON> 1
0
0
<OTHER-SE> 36,593
<TOTAL-LIABILITY-AND-EQUITY> 557,132
<SALES> 0
<TOTAL-REVENUES> 196,303
<CGS> 0
<TOTAL-COSTS> 109,617
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 503<F1>
<INTEREST-EXPENSE> 20,790
<INCOME-PRETAX> 31,741
<INCOME-TAX> 13,620
<INCOME-CONTINUING> 18,121
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 18,121
<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 SIX MONTHS ENDED
JUNE 30, 1995.
</FN>
</TABLE>
