<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
MARCH 31, 1998, CONDENSED FINANCIAL STATEMENTS OF CASINO MAGIC CORP.
AND ITS SUBSIDIARIES AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                       7,580,978
<SECURITIES>                                10,430,049
<RECEIVABLES>                                  490,351
<ALLOWANCES>                                         0
<INVENTORY>                                    196,393
<CURRENT-ASSETS>                            19,213,165
<PP&E>                                      82,794,029
<DEPRECIATION>                               6,190,363
<TOTAL-ASSETS>                             138,119,880
<CURRENT-LIABILITIES>                       19,350,612
<BONDS>                                    116,998,435
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             1
<OTHER-SE>                                   1,770,832
<TOTAL-LIABILITY-AND-EQUITY>               138,119,880
<SALES>                                     27,927,983
<TOTAL-REVENUES>                            27,927,983
<CGS>                                                0
<TOTAL-COSTS>                               27,927,983
<OTHER-EXPENSES>                               885,929
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           4,251,147
<INCOME-PRETAX>                                 86,485
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             86,485
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    86,485
<EPS-PRIMARY>                                    86.49
<EPS-DILUTED>                                    86.49