<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 13,701<F1> <SECURITIES> 0 <RECEIVABLES> 1,888 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 23,089 <PP&E> 223,875 <DEPRECIATION> 39,376 <TOTAL-ASSETS> 213,862 <CURRENT-LIABILITIES> 82,911 <BONDS> 102,786 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 138 <OTHER-SE> 28,027 <TOTAL-LIABILITY-AND-EQUITY> 213,862 <SALES> 0 <TOTAL-REVENUES> 41,945 <CGS> 0 <TOTAL-COSTS> 28,389 <OTHER-EXPENSES> 38,390 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,125 <INCOME-PRETAX> (43,668) <INCOME-TAX> (397) <INCOME-CONTINUING> (43,271) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (43,271) <EPS-PRIMARY> (3.14) <EPS-DILUTED> (3.14) <FN> <F1>Includes restricted short-term investments of $3,795. </FN>