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CIRCUS CIRCUS ANNOUNCES CLOSING OF $750,000,000 LINE OF CREDIT

 LAS VEGAS, Nev., Oct. 1 /PRNewswire/ -- Circus Circus Enterprises, Inc. announced today that it successfully arranged $750,000,000 in unsecured bank credit facilities. According to Bank of America, the company's lead bank, this is the largest bank credit ever completed for a gaming company.
 The company will use the proceeds to back up commercial paper to fund capital expenditures and investments in new ventures, and for general corporate purposes.
 Bank of America acted as managing agent with CIBC as co-managing agent. Co-agents include Long Term Credit Bank of Japan, First Interstate Bank of Nevada, Societe Generale and Credit Lyonnais. Other lenders are Continental Bank, Westdeutsche Landesbank, The Mitsubishi Trust and Banking Corp., The Sumitomo Bank, The Tokai Bank, U.S. National Bank of Oregon, The Industrial Bank of Japan, Midatlantic National Bank, The Nippon Credit Bank Ltd., The Yasuda Trust & Banking Co., and the Bank of America, Nevada.
 Clyde T. Turner, president and chief financial officer, said today that "these credit facilities provide Circus with the financial flexibility to meet its strategic growth objectives. The arrangement of $750,000,000 in bank credit in combination with our recent issuance of $300,000,000 in long-term subordinated debt has positioned the company to take advantage of current and future opportunities in the casino entertainment industry."
 In recent months, Circus has announced new projects in Reno, Nev., and Tunica, Miss., and has bids under consideration with joint venture partners to construct and operate major land-based casinos in Windsor, Ontario, Canada, and Sydney, Australia. In addition, the company is pursuing a riverboat entertainment complex in Porter County, Ind., (35 miles from Chicago), which is the subject of a Nov. 2, 1993, referendum.
 Circus' latest project, Luxor, a pyramid-shaped Egyptian-themed hotel casino, is scheduled to open Oct. 15, 1993. It will have 100,000 square feet of casino space, seven restaurants and more than 2,500 rooms. Luxor will feature a variety of entertainment adventures and explorations including participatory high-tech special effects attractions relating to the past, present, and future as well as a full- scale replica of King Tut's tomb.
 According to William G. Bennett, chairman and chief executive officer, "Bank of America Nevada, through its predecessor bank, Valley Bank of Nevada, made Circus its first loan in 1974. We are pleased with the consistent long-term support we have received from Bank of America and look forward to growing together in the future."
 -0- 10/01/93
 /CONTACT: Clyde T. Turner, 702-734-0410, ext. 3189/


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

NY-JB -- LA022 -- 0889 10/01/93 14:26 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
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