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BALLY MANUFACTURING CORPORATION ANNOUNCES SECOND WATER-BASED CASINO GAMING EXPANSION PROJECT TO BE LOCATED IN TUNICA, MISSISSIPPI

 ANNOUNCEMENT FOLLOWS RECENT BILOXI, MISSISSIPPI
 DOCKSIDE PROPERTY ACQUISITION
 CHICAGO, April 22 /PRNewswire/ -- Arthur M. Goldberg, Chairman, President and Chief Executive Officer of Bally Manufacturing Corporation (NYSE: BLY) announced today the execution of a letter of intent with Excalibur Holding Corporation and Regal Casinos, Inc. for the lease of prime property in Tunica, Mississippi. The agreement includes purchase of a vessel for the construction of a new 25,000 to 30,000 square foot dockside casino anticipated to open before the end of 1993. Bally would be the controlling partner in the Tunica casino operation.
 This announcement follows the company's April 16, 1993, acquisition of dockside property in Biloxi, Mississippi for a 30,000 square foot water-based casino operation expected to open early next year.
 According to Mr. Goldberg, "The selection of Tunica as the site of our second project in a new casino gaming market was based on the proximity of this area to Memphis, Tennessee."
 "These new gaming markets present some of the most profitable opportunities for the company's future. As demonstrated by our acquisitions, we fully intend to be a leader in the gaming industry's expansion into these lucrative markets to the benefit of all our shareholders," added Mr. Goldberg.
 Both the Tunica and Biloxi acquisitions are subject to licensing approvals by the Mississippi Gaming Commission.
 Bally Manufacturing Corporation is one of the world's foremost operators of casino hotel resorts and fitness centers.
 -0- 4/22/93
 /CONTACT: Laurie N. Terry or Michael Levine of MWW/Strategic Communications, 201-342-9500, for Bally Manufacturing/
 (BLY)


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

PS -- NY043 -- 9323 04/22/93 10:50 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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