SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 11-K/A
Amendment No. 1 to
ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED].
For the fiscal year ended December 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED].
For the transition period from ________ to ________
Commission file number 0-8570
A. Full title of the plan and the address of the plan,
if different from that of the issuer named below:
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING,
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
B. Name of issuer of the securities held pursuant to the
plan and the address of its principal executive office:
CIRCUS CIRCUS ENTERPRISES, INC.
2880 Las Vegas Boulevard South
Las Vegas, Nevada 89109-1120
<PAGE>
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING,
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
INDEX TO FINANCIAL STATEMENTS
Page
Report of Independent Public Accountants 3
Statements of Net Assets Available for Benefits
as of December 31, 1995 and 1994 5
Statement of Changes in Net Assets Available for
Benefits for the Year Ended December 31, 1995 6
Notes to Financial Statements 7-13
Schedules:
II. Combining Statements of Net Assets Available
for Benefits as of December 31, 1995 and 1994 14-15
III. Combining Statement of Changes
in Net Assets Available for Benefits for
the Year Ended December 31, 1995 16
Schedule of Assets Held for Investment
at December 31, 1995 (Form 5500 Schedule 27(a)) 17
Reportable Transactions for the Year
Ended December 31, 1995 (Form 5500 Schedule 27(d)) 18
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Directors
of Circus Circus Enterprises, Inc.:
We have audited the accompanying statements of net assets available
for benefits (including Schedule II) of Circus Circus Employees'
Profit Sharing, Investment and Employee Stock Ownership Plan (the
"Plan") as of December 31, 1995 and 1994, and the related statement of
changes in net assets available for benefits (including Schedule III)
for the year ended December 31, 1995. These financial statements are
the responsibility of the Plan's management. Our responsibility is to
express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
<PAGE>
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for
benefits of the Plan as of December 31, 1995 and 1994, and the changes
in net assets available for benefits for the year ended December 31,
1995, in conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental
schedules of assets held for investment at December 31, 1995 and
reportable transactions for the year ended December 31, 1995 are
presented for the purpose of additional analysis and are not a
required part of the basic financial statements but are supplementary
information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974. The fund information in the combining
statement of net assets available for benefits and the combining
statement of changes in net assets available for benefits is presented
for purposes of additional analysis rather than to present the net
assets available for plan benefits and changes in net assets available
for plan benefits of each fund. The supplemental schedules and fund
information have been subjected to the auditing procedures applied in
the audits of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
ARTHUR ANDERSEN LLP
Las Vegas, Nevada
June 7, 1996
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING,
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1995 AND 1994
1995 1994
CASH $ 769,176 $ 226,315
CONTRIBUTIONS RECEIVABLE:
Employee 311,319 802,570
Employer 744,392 650,777
INVESTMENTS, at contract or market value:
Fixed Income Fund
(cost of $12,977,614 and $12,260,865) 12,977,614 12,260,865
Circus Circus Common Stock Fund
(cost of $16,292,801 and $14,672,148) 20,352,736 16,163,774
ESOP Fund
(cost of $14,739,369 and $12,357,741) 15,439,238 10,967,933
General Common Stock Fund
(cost of $2,357,606 and $1,941,493) 3,265,313 2,153,436
U.S. Government Securities Fund
(cost of $379,221 and $329,066) 387,463 314,964
Capital Fund
(cost of $1,310,035 and $587,632) 1,398,857 549,770
NET ASSETS $55,646,108 $44,090,404
The accompanying notes are an integral part of these statements.
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING,
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1995
CONTRIBUTIONS:
Employee $ 6,471,985
Employer automatic 3,176,050
Employer matching 484,458
Total contributions 10,132,493
INVESTMENT INCOME:
Interest 421,249
Cash dividends 683,543
Total net investment income 1,104,792
INVESTMENT GAINS:
Realized gains, net 1,002,582
Unrealized appreciation 5,451,103
Total net investment gains 6,453,685
INCREASE BEFORE DISTRIBUTIONS 17,690,970
BENEFIT DISTRIBUTIONS (6,135,266)
INCREASE IN NET ASSETS 11,555,704
NET ASSETS, beginning of year 44,090,404
NET ASSETS, end of year $55,646,108
The accompanying notes are an integral part of this statement.
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING,
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1995
(1) Description of the Plan
The following description of the Circus Circus Employees' Profit
Sharing, Investment and Employee Stock Ownership Plan (the "Plan")
provides only general information. Plan participants should refer to
the Plan agreement for a more complete description of the Plan's
provisions.
General
The Plan was adopted as a 401(k) plan by the Board of Directors of
Circus Circus Enterprises, Inc. ("CCEI") in August 1985 and has been
approved by the Board of Directors of each of its wholly-owned
subsidiaries which are participating employers (collectively referred
to as the "Company"). Certain other amendments have been made to the
Plan from time to time, including those necessary to comply with
Internal Revenue Service and Department of Labor guidelines.
The Plan is administered by CCEI except with respect to investments
(see Note 2). Plan amendments must be approved by CCEI's Board of
Directors.
The Plan is a voluntary defined contribution plan covering primarily
non-union employees of at least age 21 who have completed one year of
service, including at least 1,000 hours of service as defined in the
Plan. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 as amended.
Changes in the Plan
On July 12, 1995, the Plan was amended (the Ninth Amendment, effective
January 1, 1995) in order to clarify the manner of compliance with
applicable laws and regulations. No substantive changes were included
in this amendment. (See Note 6 regarding a subsequent Plan
amendment.)
Contributions
Contributions to the Plan are limited under certain provisions
of the Internal Revenue Code (the "Code") as follows:
i. Section 401(k) of the Code establishes maximum percentages of
compensation which may be contributed as elective contributions
by participants of the Plan who constitute "Highly Compensated
Employees" (as defined in the Code).
<PAGE>
ii. Section 401(m) of the Code establishes maximum percentages of
compensation which may be contributed as matching contributions
on behalf of such Highly Compensated Employees.
iii. Section 402(g) of the Code establishes a specific dollar
limitation on the amount of an individual participant's elective
contributions to the Plan.
iv. Section 415 of the Code establishes limitations on the combined
amounts of annual employer and employee contributions and
forfeitures which may be credited to an individual participant's
account.
Employee Savings Contributions
The Plan provides for each participant to contribute up to 15
percent of his/her compensation unless otherwise reduced to
comply with limitations as contained in the Internal Revenue
Code. The participants may elect to have such contributions
invested in any of five investment options (see Notes 2 and 6
"Investment Options").
Savings contributions are accepted on the condition that they
fall within certain limitations contained in the Plan document.
Savings contributions that do not comply with those limitations
are to be returned (with the earnings, if any, on such amount) to
the participant after the Plan year end.
Automatic Contributions
The Company contributes an amount to each eligible participant's
account annually based on years of credited service (as defined).
Automatic contributions, ranging from $250 for one year of
service to $800 for eight or more years of service, per
participant, may be funded with CCEI common stock or cash at the
option of the Company (see Note 6 regarding a subsequent Plan
amendment).
Employer Matching Contributions
The Company matches 25% of participant savings contributions up
to specified maximum amounts per participant ranging from $62.50
for one year of service to $200 for eight or more years of
service. The contributions may be funded in cash or CCEI common
stock, at the Company's option (see Note 6 regarding a
subsequent Plan amendment).
Employer Discretionary Contributions
The Plan also provides for discretionary contributions to be made
by the Company, if approved by CCEI's Board of Directors. No
employer discretionary contributions had been made through
December 31, 1995.
Vesting
Participants eligibly employed before July 3, 1989, and who entered
the Plan on or before December 31, 1992, are fully vested in all
employer contributions and related earnings. For participants with
initial eligible employment dates on or after July 3, 1989, and for
participants with eligible employment dates prior to July 3, 1989, but
who did not enter the Plan until after December 31, 1992, employer
contributions and earnings thereon begin vesting in annual 25%
increments after three years of service and are completely vested
after six years of service, as defined in the Plan. All employee
contributions and earnings thereon are 100% vested, regardless of
employment date.
The Plan requires a participant to reach age 65 and to complete five
years of Plan participation to qualify for normal retirement. All
accounts are fully vested at the time of normal retirement. In the
event of death or total disability (as defined) of a participant, the
participant's accounts also become fully vested.
Upon termination of employment prior to normal retirement, total
disability or death, the unvested portion of a participant's account
will be forfeited. Such forfeitures of $239,918 occurring during the
1995 Plan year were allocated among the remaining participants as of
the last day of the Plan year in proportion to the respective
participant's automatic contributions for such Plan year.
Benefits
The benefit to which a participant is entitled is paid in a lump sum.
The following benefits are payable under the provisions of the Plan:
Retirement Benefit
Upon the later of reaching normal retirement age (65 years of
age), or accumulating five years of Plan participation, a
participant is entitled to a retirement benefit in an amount
equal to 100% of the participant's account balance.
Death Benefit
In the event of the death of a participant, his designated
beneficiary shall be entitled to a death benefit in an amount
equal to 100% of the participant's account balance.
Disability Benefit
In the event a participant becomes totally disabled (as defined),
such participant will be entitled to a disability benefit in an
amount equal to 100% of the participant's account balance.
Severance of Employment Benefit
In the event a participant's employment with the Company is
terminated, such participant will be entitled to a severance of
employment benefit in an amount equal to the participant's
vested account balance.
Benefits Payable
Net assets available for benefits at December 31, 1995 and 1994
include the market values of $391,062 and $52,023, respectively,
for distributions to be paid subsequent to year end.
(2) Investment Options
All employer contributions are directed to the ESOP fund. These
contributions may be in CCEI common stock or cash which will be used
to purchase CCEI stock or, to a limited extent, other investments. As
of December 31, 1995 and 1994, there were 553,874 and 474,289 shares
of CCEI common stock held by the ESOP, respectively. All employee
contributions are invested among the following five other investment
options available under the Plan, at the direction of the participant.
No portion of the ESOP fund investments may be directed by
participants into other funds prior to 1999. To the extent a
participant does not specifically designate investment elections,
undesignated amounts are invested in the fund(s) determined by the
trustee until a designation can be obtained from the participant. (See
Note 6) The participant-directed investment options available are as
follows:
Fund A - Circus Circus Common Stock Fund
This Fund is invested by Bank of America, Nevada (the "Trustee"),
primarily in CCEI common stock. The Trustee has discretion as to
the timing and manner of purchasing shares of common stock. Cash
dividends or interest, if any, are reinvested in this fund, and
any stock dividends or shares issued pursuant to a stock split on
the shares held by this fund will be added to this fund.
The respective numbers of shares of CCEI common stock held by
this fund as of the dates indicated are as follows:
December 31,
1995 1994
Number of shares 730,143 698,974
Fund B - Fixed Income Fund
Investments in Fund B are invested in the Merrill Lynch
Retirement Preservation Trust (the "Merrill Lynch Fund"),
formerly named the Merrill Lynch GIC Managed Trust, which is a
collective trust fund available for investments by qualified
retirement plans. The Merrill Lynch Fund's investment goals are
to obtain high current income consistent with the preservation of
capital and the maintenance of liquidity. The Merrill Lynch Fund
is invested primarily in contracts issued by insurance companies
and banks which provide for a return of principal plus interest,
either periodically or at maturity. Investments may also include
money market instruments. Merrill Lynch Trust Company ("Merrill
Lynch") and Merrill Lynch Asset Management, Inc. (corporations
entirely owned, directly or indirectly, by Merrill Lynch & Co.,
Inc.) are the trustee and the investment advisor, respectively,
of the Merrill Lynch Fund.
Fund C - General Common Stock Fund
This Fund is invested by the Trustee in the S&P 500 Index
Portfolio (the "Portfolio"), an investment fund constituting a
part of the SEI Index Funds and managed by SEI Financial
Management Corporation. The Portfolio seeks to provide
investment results that correspond to the aggregate price and
dividend performance of the Standard & Poor's 500 Composite Price
Index.
Fund D - U.S. Government Securities Fund
This Fund is invested in the Federated U.S. Government Securities
Fund: 2-5 years (the "U.S. Fund") formerly named Federated
Intermediate Government Trust, which invests in U.S. government
securities to provide current income. The U.S. Fund invests only
in U.S. government securities with remaining maturities of five
years or less.
Fund E - Capital Fund
This Fund is invested in Class A shares of the Merrill Lynch
Capital Fund which consists of equity securities, corporate bonds
and/or money market securities and such other investments as may
be provided from time to time under an agreement of trust, a
contract or an agreement entered into by the Plan Administrator
or the Trustee with an investment manager.
(3) Summary of Significant Accounting Policies
Accrual Basis of Accounting
The Plan's financial statements are prepared on an accrual basis.
Plan Expenses
Plan expenses, including accounting, legal, trustee and any other
costs of administering the Plan, are paid by the Company or charged to
the Plan at the discretion of CCEI's Board of Directors. All Plan
expenses during 1995 were paid by the Company.
Valuation of Investments
Contributions to the guaranteed interest accounts in the Fixed Income
Fund through 1990 guarantee a fixed rate of interest for a five-year
period. The interest rates were determined based on the rate for
guaranteed interest accounts on the dates of deposit.
Contributions to the Fixed Income Fund beginning in 1991 are placed in
the Merrill Lynch Retirement Preservation Trust, formerly named the
Merrill Lynch GIC Managed Trust. The interest rate earned on such
investments is the weighted average rate determined by the individual
contracts or investments that make up the Trust. The investment in
such accounts reflected in the statements of net assets available for
benefits subsequent to 1990 is stated at the amount of the
contributions plus the interest earned to date.
The values of the General Common Stock Fund, U.S. Government
Securities Fund, and Capital Fund at the financial statement date are
based on the latest available closing prices of the investments
included in these funds.
The value of the Circus Circus Common Stock Fund and the ESOP Fund at
the balance sheet date are based on the latest available quoted
closing price of the Company's common stock which was $27.88 and
$23.13 per share as of December 31, 1995 and 1994, respectively.
Subsequent to the end of the 1995 Plan year, the market value of the
Company's common stock increased from $27.88 on December 31, 1995 to
$42.13 on June 7, 1996.
(4) Federal Income Taxes
The Company received a favorable determination letter, dated May 23,
1995, from the Internal Revenue Service with respect to the tax exempt
status of the Plan (under Code Section 401(a)), and as to whether the
Plan qualifies for deferred tax treatment of contributions (under Code
Section 401(k)). In management's opinion, within the limits
established by the Plan, a participant in the Plan is not subject to
any federal income tax on the contributions of the participant or the
Company, or on the dividends, interest or profits from sales of
securities held by the Trustee, until such amounts are withdrawn by
the participant. (See Note 6)
(5) Plan Termination
Although the Company expects to continue the Plan indefinitely, it
reserves the right to amend or terminate the Plan in whole or in part
at any time.
(6) Subsequent Amendment of Plan
In November 1995, the Plan was amended (Tenth Amendment and
Restatement), effective January 1, 1996, for the primary purpose of
offering participants a greater diversity of investment alternatives.
The following two additional investment options were added:
Fund F - Small Capitalization Index Fund
This Fund is invested in the Small Capitalization Stock Portfolio
of the Vanguard Index Trust and is administered by Vanguard's
Core Management Group. The Fund seeks to replicate the aggregate
price and yield performance of the Russell 2000 Small Stock
Index, a broadly diversified small-capitalization stock index
consisting of approximately 2,000 common stocks.
Fund G - The International Growth Fund
This Fund is invested in the Scudder International Fund, one of a
series of funds of Scudder International Fund, Inc. and is
managed by Scudder, Stevens & Clark, Inc. It seeks long-term
growth of capital by investing in a diversified portfolio of
marketable stocks issued by non-U.S. companies, thus permitting
participation in foreign economies having prospects for growth.
The Plan amendment will require that participants make an election for
the investment (among the seven investment options) of all employer
contributions subsequent to 1995, which will be made in cash and no
longer directed to the ESOP Fund. Additionally, no more than 25% of
these contributions nor of post-1995 employee contributions may be
directed to Fund A, the Circus Circus Stock Fund. Transfers of
previously invested balances into Fund A will be allowed only to the
extent that a participant's Fund A balance is less than 25% of his/her
total balance prior to the transfer. The Plan amendment also provides
that any contributions by or for a participant who failed to make
investment elections will be invested in Fund B, the Fixed Income
Fund, unless the Trustee designates a different default fund.
The Plan amendment also modified an eligibility provision to permit
qualifying employees of specific subsidiaries acquired in 1995 to
enter the Plan on January 1, 1996. The amendment also changed the
name of the Plan to the Circus Circus Employees Profit Sharing and
Investment Plan. Other minor changes were included in the amendment
for purposes of regulatory compliance, clarification and general
updating.
<TABLE>
<CAPTION>
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING, SCHEDULE II
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN PAGE 1 OF 2
COMBINING STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1995
CIRCUS CIRCUS
COMMON STOCK FIXED GENERAL COMMON U.S. GOVERNMENT CAPITAL
FUND INCOME FUND STOCK FUND SECURITIES FUND FUND ESOP
ASSETS TOTAL FUND A FUND B FUND C FUND D FUND E FUND
<S> <C> <C> <C> <C> <C> <C> <C>
CASH $ 769,176 $ 357,028 $ 160,882 $ 105,089 $ 7,789 $ 42,531 $ 95,857
CONTRIBUTIONS RECEIVABLE:
Employee 311,319 184,851 57,460 33,425 5,880 29,703 -
Employer 744,392 - - - - - 744,392
INVESTMENTS, at contract or
market value:
Circus Circus Common Stock
Fund 20,352,736 20,352,736 - - - - -
Fixed Income Fund 12,977,614 - 12,977,614 - - - -
General Common Stock Fund 3,265,313 - - 3,265,313 - - -
U.S. Government Securities
Fund 387,463 - - - 387,463 - -
Capital Fund 1,398,857 - - - - 1,398,857 -
ESOP Fund 15,439,238 - - - - - 15,439,238
NET ASSETS $55,646,108 $20,894,615 $13,195,956 $ 3,403,827 $ 401,132 $ 1,471,091 $16,279,487
The accompanying notes are an integral part of these statements.
</TABLE>
<TABLE>
<CAPTION>
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING, SCHEDULE II
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN PAGE 2 OF 2
COMBINING STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1994
CIRCUS CIRCUS
COMMON STOCK FIXED GENERAL COMMON U.S. GOVERNMENT CAPITAL
FUND INCOME FUND STOCK FUND SECURITIES FUND FUND ESOP
ASSETS TOTAL FUND A FUND B FUND C FUND D FUND E FUND
<S> <C> <C> <C> <C> <C> <C> <C>
CASH $ 226,315 $ 151,253 $ 372 $ 66,200 $ 2,284 $ 15 $ 6,191
CONTRIBUTIONS RECEIVABLE:
Employee 802,570 494,023 223,991 48,011 6,149 30,396 -
Employer 650,777 - - - - - 650,777
INVESTMENTS, at contract or
market value:
Circus Circus Common Stock
Fund 16,163,774 16,163,774 - - - - -
Fixed Income Fund 12,260,86 - 12,260,865 - - - -
General Common Stock Fund 2,153,436 - - 2,153,436 - - -
U.S. Government Securities
Fund 314,964 - - - 314,964 - -
Capital Fund 549,770 - - - - 549,770 -
ESOP Fund 10,967,933 - - - - - 10,967,933
NET ASSETS $44,090,404 $16,809,050 $12,485,228 $ 2,267,647 $ 323,397 $ 580,181 $11,624,901
The accompanying notes are an integral part of these statements.
</TABLE>
<TABLE>
<CAPTION>
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING SCHEDULE III
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
COMBINING STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1995
CIRCUS CIRCUS
COMMON STOCK FIXED GENERAL COMMON U.S. GOVERNMENT
FUND INCOME FUND STOCK FUND SECURITIES FUND CAPITAL ESOP
TOTAL FUND A FUND B FUND C FUND D FUND FUND
<S> <C> <C> <C> <C> <C> <C> <C>
CONTRIBUTIONS:
Employee $6,471,985 $3,637,795 $1,659,060 $ 439,139 $ 113,433 $ 622,558 $ -
Employer automatic 3,176,050 - - - - - 3,176,050
Employer matching 484,458 - - - - - 484,458
Total contributions 10,132,493 3,637,795 1,659,060 439,139 113,433 622,558 3,660,508
INVESTMENT INCOME:
Interest 421,249 21,602 390,524 3,296 528 1,246 4,053
Cash dividends 683,543 - 385,700 113,821 21,224 162,798 -
Total net investment income 1,104,792 21,602 776,224 117,117 21,752 164,044 4,053
INVESTMENT GAINS:
Realized gains, net 1,002,582 624,760 - 32,631 5,009 27,477 312,705
Unrealized appreciation 5,451,103 2,673,229 - 707,395 16,604 113,500 1,940,375
Total net investment gains 6,453,685 3,297,989 - 740,026 21,613 140,977 2,253,080
TRANSFERS - (272,510) 173,436 38,317 24,023 36,734 -
BENEFIT DISTRIBUTIONS (6,135,266) (2,599,311) (1,897,992) (198,419) (103,086) (73,403) (1,263,055)
INCREASE IN NET ASSETS 11,555,704 4,085,565 710,728 1,136,180 77,735 890,910 4,654,586
NET ASSETS, beginning of year 44,090,404 16,809,050 12,485,228 2,267,647 323,397 580,181 11,624,901
NET ASSETS, end of year $55,646,108 $20,894,615 $13,195,956 $ 3,403,827 $ 401,132 $1,471,091 $16,279,487
The accompanying notes are an integral part of these statements.
</TABLE>
<TABLE>
<CAPTION>
EIN# 88-0121916
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING,
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
SCHEDULE OF ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1995
(Form 5500 Item 27(a))
At December 31, 1995 the Trustee held for the Plan the following investments:
Contract/
Number of Market
Shares/Units Cost Value
<S> <C> <C> <C>
Fixed Income Fund 12,977,614 12,977,614 12,977,614
Circus Circus Common Stock Fund* 730,143 16,292,801 20,352,736
ESOP Fund (Circus Circus Common Stock)* 553,874 14,739,369 15,439,238
SEI Financial Management Corporation
General Common Stock Fund 163,921 2,357,606 3,265,313
Federated Intermediate Government Trust
U.S. Government Securities Fund 36,245 379,221 387,463
Merrill Lynch Capital Fund 45,789 1,310,035 1,398,857
$48,056,646 $53,821,221
* Party in interest
</TABLE>
<TABLE>
<CAPTION>
EIN# 88-0121916
CIRCUS CIRCUS EMPLOYEES' PROFIT SHARING,
INVESTMENT AND EMPLOYEE STOCK OWNERSHIP PLAN
REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1995
(Form 5500 Item 27(d))
(In thousands, except number of transactions)
PURCHASES
Number of
Transactions Shares Cost
<S> <C> <C> <C>
REPORTABLE TRANSACTIONS BY ISSUE:
SEI Trust Funds Treasury 310 15,407 $15,407
Merrill Lynch Retirement Preservation Trust 49 3,695 3,695
Insured Institutional Money Market 50 2,480 2,480
Circus Circus Stock* 49 374 10,832
INDIVIDUALLY REPORTABLE TRANSACTIONS:
N/A
SALES
Number of Original
Transactions Shares Cost Proceeds Gain
<S> <C> <C> <C> <C> <C>
REPORTABLE TRANSACTIONS BY ISSUE:
SEI Trust Funds Treasury 220 14,640 $14,640 $14,640 $ -
Merrill Lynch Retirement Preservation Trust 27 1,806 1,806 1,806 -
Insured Institutional Money Market 37 2,637 2,637 2,637 -
Circus Circus Stock* 37 132 3,101 3,998 897
INDIVIDUALLY REPORTABLE TRANSACTIONS:
N/A
* Party in interest
</TABLE>
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
the Plan Administrator has duly caused this Annual Report to be signed on its
behalf by the undersigned hereunto duly authorized.
Circus Circus Enterprises, Inc.,
as Plan Administrator of the
Circus Circus Employees' Profit
Sharing, Investment and Employee
Stock Ownership Plan
By GLENN SCHAEFFER
Glenn Schaeffer
President, Chief Financial Officer
and Treasurer
June 21, 1996
EXHIBIT INDEX
No. Description
23 Consent of Arthur Andersen LLP
EXHIBIT 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the
incorporation of our report dated June 7, 1996 included in this
Form 11-K, into Circus Circus Enterprises, Inc.'s previously
filed Registration Statement File No. 33-18278 on Form S-8.
ARTHUR ANDERSEN LLP
Las Vegas, Nevada
June 19, 1996
