<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-1996 <PERIOD-END> SEP-30-1995 <CASH> 37,851 <SECURITIES> 0 <RECEIVABLES> 9,535 <ALLOWANCES> 620 <INVENTORY> 0 <CURRENT-ASSETS> 56,389 <PP&E> 368,483 <DEPRECIATION> 25,014 <TOTAL-ASSETS> 461,946 <CURRENT-LIABILITIES> 97,857 <BONDS> 317,029 <COMMON> 78,494 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 17,649 <TOTAL-LIABILITY-AND-EQUITY> 461,946 <SALES> 0 <TOTAL-REVENUES> 95,177 <CGS> 0 <TOTAL-COSTS> 76,493 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 14,630 <INCOME-PRETAX> 14,502 <INCOME-TAX> 2,587 <INCOME-CONTINUING> 11,915 <DISCONTINUED> 0 <EXTRAORDINARY> (1,307) <CHANGES> 0 <NET-INCOME> 10,608 <EPS-PRIMARY> .45 <EPS-DILUTED> .45