SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 3, 1997
SHOWBOAT, INC.
(Exact name of Registrant as specified in charter)
Nevada
(State or other jurisdiction of incorporation)
1-7123 88-0090766
(Commission File Number) (IRS Employee
Identification No.)
2800 Fremont Street, Las Vegas, Nevada 89104
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (702) 385-9123
Not Applicable
(Former name or former address, if changed since last report)
THIS DOCUMENT CONSISTS OF 2 PAGES.
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Item 5. OTHER EVENTS
On May 3, 1997, Showboat, Inc., a Nevada publicly
traded corporation ("Showboat"), announced that Publishing &
Broadcasting Limited, a publicly traded Australian corporation
("PBL"), formally advised it that PBL had let lapse the agreement
in principle to acquire from Showboat 10% of the outstanding
ordinary shares of Sydney Harbour Casino Holdings Limited, a
publicly traded Australian corporation and parent corporation of
the holder of the gaming licensee of the Sydney Harbour Casino
("SHCL"), and the right to manage the Sydney Harbour Casino.
As a result Showboat will remain the largest single
shareholder of SHCL, beneficially owning 24.6% of SHCL's
outstanding ordinary shares, and will continue to manage the
Sydney Harbour Casino through an 85% owned subsidiary, Sydney
Casino Management Pty Limited.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits.
Not Applicable
SIGNATURES
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 hereunto duly authorized.
SHOWBOAT, INC.
(Registrant)
Dated: May 13, 1997 By: /s/ H. Gregory Nasky
H. Gregory Nasky
Executive Vice President and
Secretary
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