SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C.  20549

                            FORM 8-K

                         CURRENT REPORT

                  Pursuant to Section 13 or 15(d) of 
                  the Securities Exchange Act of 1934

                         September 19, 1996
                          (Date of Report)

                  DEBBIE REYNOLDS HOTEL & CASINO, INC.
          (Exact Name of Registrantas Specified in its charter)

                                 NEVADA
              (State or other jurisdiction of incorporation)

           0-18864                             88-0335924
   (Commission File Number)       (IRS Employer Identification Number)

           305 Convention Center Drive, Las Vegas, Nevada  89109
        (Address of principal executive offices including zip code)

                             (702)  734-0711
             (Registrant's telephone number including area code)

                                  N/A
        (Former name or former address, if changed since last report)



Item 5. Other Events
     The Company announces that it has successfully closed a $550,000 Note
Payable ("Note") secured by mortgage with an independent third party
("Lender").  The proceeds of which have been used to reduce past due tax
obligations, reduce trade payable debt and also allowed the Company to
engage its auditors, KPMG Peat Marwick, to begin work on the December 31,
1995 year end audit.  The Note is due November 1, 1996, pays interest at
a rate of 12% payable monthly, is secured by a forth deed of trust against
the Debbie Reynolds Hotel and is guaranteed personally by the Company's 
Chairman of the Board and CEO.  In connection with the financing, the 
Company granted the Lender warrants to aquire 260,000 shares of the 
Company's common stock at an exercise price of $.70 per share.
      
     During the second quarter of 1996 the Company successfully converted
$918,000 of various debt into 834,547 shares of the Company's restricted
common stock.  The amount converted included $486,000 of the Company's 
8.75% convertible preferred stock.  The Company allowed participants of 
the private placement dated March 25, 1994 to convert their debentures 
and preferred stock into common stock at a rate of $1.10 per share in 
exchange for the forgiveness of accrued dividends on the preferred stock
and accrued interest on the debentures.

     In April 1996 the Company announced the signing of a letter of 
intent with CS First Boston Capital Corporation, ("CS First") for certain 
financing.  Subsequently, the Company and CS First terminated the letter 
of intent and the proposed financing was canceled.



                               SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the 
undersigned, thereunto duly authorized.

                               DEBBIE REYNOLDS HOTEL & CASINO, INC.


Date:  September 19, 1996      /S/TODD FISHER________
                               Todd Fisher, President