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CIRCUS CIRCUS ENTERPRISES INC. ANNOUNCES PERSONNEL CHANGES

 LAS VEGAS, Feb. 19 /PRNewswire/ -- Circus Circus Enterprises Inc. today announced that its board of directors has elected Clyde T. Turner president and chief financial officer of the company following the resignation of Glenn W. Schaeffer. Turner was formerly executive vice president and chief financial officer of Mirage Resorts Inc.
 William G. Bennett, the company's chairman and chief executive officer said, "Clyde Turner has an outstanding reputation in our industry and we are fortunate to have him join us as we enter what I believe will be our company's most exciting decade."
 Schaeffer resigned Thursday as president, chief financial officer, treasurer and director. Bennett and Schaeffer said that they mutually came to a decision not to renew Schaeffer's employment agreement and parted amicably.
 Schaeffer said, "Circus was an outstanding company when I joined it nearly a decade ago, and, going forward, the company's invention of the entertainment megastore is a product of the future -- which its two new projects exemplify. I was fortunate in my association with Circus."
 Schaeffer will continue to be employed as a consultant to the company and will pursue other outside interests consistent with his new role.
 Bennett said that development and finance at the company are on a strong course, with two new projects -- Grand Slam Canyon and Luxor -- both proceeding on budget and schedule. Grand Slam Canyon is slated for an August opening, and Luxor is scheduled to open in October. Bennett stated that the company's balance sheet is the highest-rated among pure-play gaming companies, and that free cash flows are financing the largest portion of the new projects. Circus also has in place Michael Rumbolz, former chairman of the Nevada Gaming Control Board, to head up its development efforts beyond Nevada.
 The board of directors also elected Terry L. Caudill, the company's chief accounting officer to succeed Schaeffer as corporate treasurer.
 Separately, the company will report its results for the fourth quarter ended Jan. 31, on Feb. 26. The company's earnings per share will be in the range of $.35 to $.37 compared to $.34 in the year- earlier quarter. As earlier noted by Wall Street analysts, inclement weather in Reno during the Christmas holiday and the month of January significantly affected customer traffic, and construction of Grand Slam Canyon at Circus Circus-Las Vegas also hindered customer counts.
 For the full year, Circus will report between $2.12 and $2.14 (before a $.06 extraordinary loss for its redemption of 10 1/8 Percent Senior Subordinated Notes in April 1992), compared to $1.84 in the prior fiscal year.
 -0- 2/19/93
 /CONTACT: Clyde T. Turner or William J. Paulos of Circus Circus, 702-734-0410, ext. 3189/


CO: Circus Circus Enterprises Inc. ST: Nevada IN: CNO SU: PER

EH -- LA013 -- 8294 02/19/93 09:31 EST
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Publication:PR Newswire
Date:Feb 19, 1993
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