<ARTICLE>                     5
<LEGEND>
                    THIS  SCHEDULE   CONTAINS   SUMMARY   FINANCIAL  INFORMATION
                    EXTRACTED FROM ATLANTIC  CITY BOARDWALK ASSOCIATES,  L.P.'S 
                    FORM  10-K FOR THE YEAR  ENDED DECEMBER   31,  1998  AND  IS
                    QUALIFIED  IN  IT'S ENTIRETY BY REFERENCE TO SUCH FINANCIAL 
                    STATEMENTS.
</LEGEND>
<CIK>                        0000730408
<NAME>                       ATLANTIC CITY BOARDWALK ASSOCIATES, L.P.
<MULTIPLIER>                                       1
<CURRENCY>                                         US
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                                                    DEC-31-1998
<PERIOD-END>                                                         DEC-31-1998
<EXCHANGE-RATE>                                1
<CASH>                                         1,527,000
<SECURITIES>                                           0
<RECEIVABLES>                                          0
<ALLOWANCES>                                           0
<INVENTORY>                                            0
<CURRENT-ASSETS>                               2,717,000
<PP&E>                                       184,318,000
<DEPRECIATION>                               110,952,000
<TOTAL-ASSETS>                               104,713,000
<CURRENT-LIABILITIES>                          4,690,000
<BONDS>                                       79,622,000
<PREFERRED-MANDATORY>                                  0
<PREFERRED>                                            0
<COMMON>                                               0
<OTHER-SE>                                    20,401,000
<TOTAL-LIABILITY-AND-EQUITY>                 104,713,000
<SALES>                                                0
<TOTAL-REVENUES>                              27,986,000
<CGS>                                                  0
<TOTAL-COSTS>                                 11,565,000
<OTHER-EXPENSES>                               6,003,000
<LOSS-PROVISION>                                       0
<INTEREST-EXPENSE>                            12,172,000
<INCOME-PRETAX>                               (1,754,000)
<INCOME-TAX>                                           0
<INCOME-CONTINUING>                           (1,754,000)
<DISCONTINUED>                                         0
<EXTRAORDINARY>                                        0
<CHANGES>                                              0
<NET-INCOME>                                  (1,754,000)
<EPS-PRIMARY>                                          0
<EPS-DILUTED>                                          0