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SHOWBOAT, INC. NAMES NEW PRESIDENT

 ATLANTIC CITY, N.J., June 2 /PRNewswire/ -- J. Kell Houssels, III has been elected President and Chief Executive Officer of Showboat, Inc. (NYSE: SBO) by the Board of Directors of the casino-hotel company, it was announced today.
 Mr. Houssels will continue to serve as President and Chief Executive Officer of Showboat Development Company and of Showboat Casino-Hotel in Atlantic City.
 He succeeds his father, J.K. Houssels, Jr., as President and CEO of Showboat, Inc. The elder Mr. Houssels will continue to serve as Chairman of the company he and his father, J. Kell Houssels, Sr., founded in Las Vegas in 1954.
 As President and CEO of Showboat Development Company, J. Kell Houssels, III has been responsible for the company's rapid expansion into new gaming jurisdictions in the past year. Showboat's Atlantic City casino-hotel has become the city's premier property since Mr. Houssels became President in 1990.
 Showboat, Inc. is a publicly owned company which trades on the New York Stock Exchange under the symbol SBO. The company owns and operates casino-hotels in Las Vegas and Atlantic City. Showboat Inc. is also a 50% partner and manager of the Showboat Star Casino, a riverboat on Lake Pontchartrain in New Orleans, LA.
 In addition, Showboat and its partners have been selected to develop and operate a massive casino-hotel-entertainment complex in Sydney, Australia. The company anticipates opening a temporary casino in Sydney in 1995. A permanent facility will house almost 136,000 square feet of gaming space, plus restaurants, rooms and suites, and theater. It is expected to open in 1998.
 Showboat, Inc. also has an agreement to manage a casino for the St. Regis Mohawk Indian tribe in Hogansburg, NY, and is the majority partner in a company which was the lone bidder for the right to operate a riverboat casino in East Chicago, IL.
 Mr. Houssels was graduated from Yale University with a Bachelor of Science degree and holds an MBA from the University of Southern California.
 He will maintain his new corporate office in Atlantic City.
 -0- 6/2/94
 /CONTACT: M. Brad Straub, Vice President-Finance of Showboat Development Division, 609-487-2018; or Leann Schneider, Vice President- Finance and Chief Financial Officer of Showboat, Inc., 702-385-9123/
 (SBO)


CO: Showboat, Inc. ST: New Jersey IN: CNO LEI SU: PER

GK -- NY067 -- 2589 06/02/94 11:57 EDT
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Publication:PR Newswire
Date:Jun 2, 1994
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