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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
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FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) November 7, 1997

PREMIER PARKS INC.

(Exact name of registrant as specified in its charter)

DELAWARE 0-9789 73-613774
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)

11501 NORTHEAST EXPRESSWAY, OKLAHOMA CITY, OKLAHOMA 63131

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code (405) 475-2500

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(Former name or former address, if changed since last report)

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Page 1 of 4 total pages
(Exhibit index is found on page 3)

ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.

On November 7, 1997, Premier Parks Inc. (the "Company" or the "Registrant")
acquired all of the membership interests of the limited liability company that
owned substantially all of the assets used in the operation of Kentucky
Kingdom--The Thrill Park ("Kentucky Kingdom"), a combination theme and water
park located in Louisville, Kentucky, for an aggregate purchase price of $64
million (the "Purchase Price"), pursuant to a Stock Purchase Agreement dated
September 26, 1997 (the "Agreement"), among the Company, Kentucky Kingdom, Inc.,
Hart-Lunsford Enterprises, LLC and Edward J. Hart (the "Sellers").

The Company funded approximately $4.9 million of the Purchase Price by
delivery of 121,671 shares of its common stock to the Sellers, with the balance
paid in cash. Depending upon the level of revenues generated at Kentucky Kingdom
during each of the 1998-2000 seasons, the Company will be required to issue to
the Sellers additional shares of the Company's common stock. At the closing, the
Company also entered into a five-year employment agreement with Edward J. Hart,
one of the Sellers. Mr. Hart will serve as Managing Director of Kentucky
Kingdom.

The acquisition is being accounted for under the purchase method.
Accordingly, the operations of Kentucky Kingdom from and after the purchase date
forward will be consolidated with the Company's operations. The Company does not
anticipate significant revenues from Kentucky Kingdom during the remainder of
1997, because the park is closed for the balance of the year.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

(a) Financial Statements of Kentucky Kingdom, Inc. at November 2, 1997 and
for the 52-week period then ended will be filed by amendment promptly
hereafter, but in no event later than 60 days following the date that
this Report must be filed.

(b) Pro Forma Financial Statements of Premier Parks Inc. for the year ended
December 31, 1996 and for the nine months ended as of September 30, 1997
will be filed by amendment promptly hereafter, but in no event later than
60 days following the date that this Report must be filed.

10(a)Stock Purchase Agreement dated as of September 26, 1997, among the
Registrant, Kentucky Kingdom, Inc., Hart-Lunsford Enterprises, LLC,
and Edward J. Hart (incorporated by reference from Exhibit 10.1 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
September 30, 1997).

10(b)Employment Agreement dated as of November 7, 1997, between the
Registrant and Edward J. Hart (incorporated by reference from Exhibit
10.2 to the Registrant's Quarterly Report on Form 10-Q for the
quarter ended September 30, 1997).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated: November 14, 1997

PREMIER PARKS INC.

BY: /S/ KIERAN E. BURKE
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Kieran E. Burke
Chairman of the Board and
Chief Executive Officer