<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE FINANCIAL STATEMENTS CONTAINED IN 
THE BODY OF THE ACCOMPANYING FORM 10-K AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>        1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          JUN-30-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                          32,502
<SECURITIES>                                         0
<RECEIVABLES>                                    6,803
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                41,003
<PP&E>                                         152,205
<DEPRECIATION>                                (26,251)
<TOTAL-ASSETS>                                 243,628
<CURRENT-LIABILITIES>                           13,924
<BONDS>                                        270,081
<PREFERRED-MANDATORY>                          114,372
<PREFERRED>                                     98,712
<COMMON>                                             2
<OTHER-SE>                                   (288,393)
<TOTAL-LIABILITY-AND-EQUITY>                   243,628
<SALES>                                              0
<TOTAL-REVENUES>                                57,380
<CGS>                                                0
<TOTAL-COSTS>                                   32,523
<OTHER-EXPENSES>                                 8,522
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              29,591
<INCOME-PRETAX>                               (11,161)
<INCOME-TAX>                                       119
<INCOME-CONTINUING>                           (11,042)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  5,658
<CHANGES>                                            0
<NET-INCOME>                                   (5,384)
<EPS-PRIMARY>                                  (24.32)
<EPS-DILUTED>                                  (24.32)