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BALLY ANNOUNCES AGREEMENT TO ACQUIRE BILOXI, MISS. GULF COAST PROPERTY AS INITIAL STEP IN NEW 30,000 SQUARE FOOT DOCKSIDE CASINO PROJECT

 CHICAGO, April 16 /PRNewswire/ -- Arthur M. Goldberg, chairman, chief executive officer of Bally Manufacturing Corporation (NYSE: BLY) announced today the execution of an agreement for the acquisition of prime, centrally located Gulf Coast property in Biloxi, Miss. for the construction of a new 30,000 square foot dockside casino anticipated to open by Spring of 1994. Bally will be joined in the venture by Dale Scutti of Rochester, N.Y., known for his involvement in the gaming industry including Resorts International.
 According to Mr. Goldberg, "We are enthusiastic over the prospect of becoming part of the growing trend in water-based casino gaming operations. We believe our participation will provide significant investment returns to Bally Manufacturing stockholders.
 "The selection of Biloxi as the site of our first entry into a new casino gaming market was based on our opinion that this area offers an excellent opportunity for growth at this time."
 Mr. Goldberg continued, "Our location on the Biloxi Gulf Coast strip will be centrally located between two major casinos currently under construction, The Grand Casino and Casino Magic, in the heart of the area that will eventually have a boardwalk similar to that of Atlantic City."
 The next steps after the acquisition of the Biloxi property before opening for operations will include financing, construction and licensing approvals which should be completed by spring of 1994.
 Bally Manufacturing is one of the world's foremost operators of casino hotel resorts and fitness centers.
 -0- 4/16/93
 /CONTACT: Michael Levine or Laurie N. Terry of MWW/Strategic Communications, Inc., 201-342-9500, for Bally Manufacturing Corporation/
 (BLY)


CO: Bally Manufacturing Corporation ST: Illinois IN: CNO SU:

TS -- NY009 -- 6604 04/16/93 08:48 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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