PLAYERS INTERNATIONAL REPORTS THIRD QUARTER RESULTS.

LAKE CHARLES, La.--(BUSINESS WIRE)--January 23, 1995--Players International, Inc. (NASDAQ:PLAY) today announced results for the third quarter and nine months of fiscal 1995 ended December 31, 1994.

For the third quarter, the Company reported revenues of $58.7 million versus $23.3 million for the year ago quarter. On a fully diluted basis, net earnings were $11.6 million, or $0.55 per share compared to $2.5 million, or $0.12 per share in last year's third quarter.

For the first nine months, revenues reached $165.8 million versus $61.8 million for the year ago period. On a fully diluted basis, net earnings were $35.3 million, or $1.70 per share compared to $12.9 million, or $0.68 per share for the same period in fiscal 1994.

Commenting on the results, Ed Fishman, Chairman, said, "Our strong third quarter results reflect a number of activities and initiatives at each of our operations and leave us well-positioned to achieve sustained growth. The Metropolis, Illinois riverboat facility has again exceeded our expectations. Results for the December quarter were greater than last year's strong performance."

Fishman added, "We completed the expansion of the fourth deck at our Lake Charles facility and resumed our normal cruising schedule in December, with results for the month improving upon November."

"During the quarter, we commenced advance marketing efforts for the Players Island Resort in Mesquite, Nevada. We are pleased with the pace of our construction and remain on target for a Summer 1995 opening," Fishman concluded.

Players International, Inc. is a developer and operator of casinos in new gaming markets. The Company owns and operates gaming and entertainment facilities on the Ohio River in Metropolis, Illinois and in Lake Charles, Louisiana. A gaming complex in Mesquite, Nevada is currently under development and is scheduled for a Summer 1995 opening. -0-

                        PLAYERS INTERNATIONAL, INC.
                     CONDENSED STATEMENT OF OPERATIONS
                          (Dollars in thousands)
                                (Unaudited)

                         For the Three Months     For the Nine Months
                         Ended December 31,       Ended December 31,
                           1994      1993           1994      1993
Revenues                  $58,665   $23,272       $165,849   $61,837

Income from continuing
 operations before
  provision for income taxes
  and cumulative effect of
  change in accounting
   principle               17,963(a)  3,972(b)   55,971(a) 14,389(b)

Provision for income taxes  6,388     1,469      20,645     5,024

Income before cumulative
 effect of change in
  accounting principle     11,575(a)     2,503(b)   35,326(a)  9,365(b)

Cumulative effect of change in
  accounting principle         --           --          --     3,500(c)

Net income                 11,575(a)     2,503(b)   35,326(a) 12,865(b)

Earnings per common share
  assuming full dilution    $0.55(a)     $0.12(b)    $1.70(a)   $0.68(b)

Fully diluted number of
 shares of common stock
  outstanding           20,936,576   20,807,411  20,806,225  19,076,968

    (a) Includes pre-tax charges of $2.2 million and $5.5 million and
after-tax charges of $1.4 million ($0.07 per share) and $3.5 million
($.17 per share) for pre- opening and gaming development costs for
the three and nine months ended December 31, 1994 respectively.  Of
this amount, $701,000 ($.02 per share after tax) and $999,000 ($.03
per share after tax) relate to pre-opening costs associated with the
Mesquite, Nevada facility for the three and nine months ended
December 31, 1994.

    (b) Includes pre-tax charges of $450,000 and $1.4 million and
after-tax charges of $270,000 ($0.01 per share) and $811,000 ($0.04
per share) for compensation expense in connection with non-employee
director options for the three and nine months ended December 31,
1993, respectively.

    Includes pre-tax charges of $1.1 million and after tax charges of
$600,000 ($.04 per share) for stock compensation in connection with
employment contracts for the nine months ended December 31, 1993.

    Includes pre-tax charges of $3.2 million and $4.7 million and
after-tax charges of $1.9 million ($0.09 per share) and $2.8 million
($0.15 per share) for pre-opening and gaming development costs for
the three and nine months ended December 31, 1993, respectively.

    (c) Cumulative effect of adoption of FASB Statement No. 109 -
"Accounting for Income Taxes".

CONTACT: Players International, Inc.

Peter J. Aranow

Chief Financial Officer

318/437-1560

or

Morgen-Walke Associates

Christine DiSanto/Adam Steinberg 

Media contact: Helen Spanakos

212/850-5600