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BALLY'S GRAND INC. PLAN OF REORGANIZATION CONFIRMED BY U.S. BANKRUPTCY COURT

 BALLY'S GRAND INC. PLAN OF REORGANIZATION CONFIRMED
 BY U.S. BANKRUPTCY COURT
 LAS VEGAS, Sept. 15 /PRNewswire/ -- Bally's Grand Inc., which owns and operates the Bally's Las Vegas casino hotel resort, announced today that its Plan of Reorganization, was confirmed by the United States Bankruptcy Court for the District of New Jersey.
 Consummation of Bally's Grand's Plan of Reorganization now is subject only to the receipt of necessary approvals from Nevada gaming authorities. Upon consummation, certain indebtedness of Bally's Grand will be discharged for consideration described in Bally's Grand's Plan of Reorganization and Bally's Grand will emerge from bankruptcy protection.
 Bally's Grand, Inc. is a subsidiary of Bally Manufacturing Corporation (NYSE: BLY), one of the world's foremost operators of casino hotel resorts and fitness centers. Other subsidiaries of Bally Manufacturing Corporation own and operate its Bally's casino hotel resorts located in Atlantic City, N.J., and these subsidiaries are not affected by the bankruptcy of Bally's Grand in Nevada.
 -0- 9/15/92
 /CONTACT: Michael Kempner or Stan Steinreich of MWW/Strategic Communications, 201-342-9500/
 (BLY) CO: Bally's Grand, Inc. ST: Nevada, New Jersey IN: CNO SU: RCN


KD -- NY084 -- 9856 09/15/92 17:57 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
Words:196
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