<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM DECEMBER 31,
1997, CONSOLIDATED FINANCIAL STATEMENTS OF CASINO MAGIC CORP. AND ITS
SUBSIDIARIES AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                      20,986,510
<SECURITIES>                                10,629,405
<RECEIVABLES>                                3,781,945
<ALLOWANCES>                                         0
<INVENTORY>                                  1,007,119
<CURRENT-ASSETS>                            39,740,787
<PP&E>                                     321,803,055
<DEPRECIATION>                              57,809,603
<TOTAL-ASSETS>                             372,704,817
<CURRENT-LIABILITIES>                       51,031,097
<BONDS>                                    252,541,590
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       357,221
<OTHER-SE>                                  59,097,068
<TOTAL-LIABILITY-AND-EQUITY>               372,704,817
<SALES>                                    261,474,016
<TOTAL-REVENUES>                           261,474,016
<CGS>                                                0
<TOTAL-COSTS>                              236,919,263
<OTHER-EXPENSES>                             1,049,777
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                          31,384,558
<INCOME-PRETAX>                            (5,780,028)
<INCOME-TAX>                               (1,935,000)
<INCOME-CONTINUING>                         24,554,753
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (5,249,208)
<EPS-PRIMARY>                                   (0.15)
<EPS-DILUTED>                                   (0.15)