BOYD VIEW FOR INDIANA CASINO

Boyd Gaming Corp. has proposed a two-phase, $170 million gambling project at Hammond, Ind.

Boyd, based in Las Vegas with casino operations already in Nevada, Louisiana, Mississippi and Missouri, outlined its plan for an Indiana operation released this week.

Boyd's first phase at Hammond, said Bob Boughner, chief operating officer for Boyd, is for $157 million. It includes a casino with 755 slot machines and 110 gaming tables, and an entertainment complex with four restaurants, two lounges and a shopping area. The second phase calls for construction of a hotel and additional parking.

The company also has proposed building a $52 million casino complex on the Cape Girardeau riverfront. Boyd hasn't yet filed an application for the Cape Girardeau project. Following the approval of a riverboat gambling casino (Aztar) at Caruthersville earlier this year, the Missouri Gaming Commission stated that it would not award another Mississippi River permit south of St. Louis this year.

Boyd is one of three applicants for a riverboat gambling license to operate in Hammond. Others are Lake Michigan Charters, which has unveiled a $112 million proposal that would employ more than 1,200 people, and Bally's Entertainment Corp., with a $102 million complex that includes a 200-room lakefront hotel and entertainment center.

The Indiana Gaming Commission is expected to issue a certificate of suitability sometime next month. The suitability certificate is the first step toward a final license. The chosen developer will have to secure permits, post a bond and agree to any other conditions established by the commission before the final license is issued.

Growth in Boyd Gaming's Central Region, which includes Missouri, Mississippi and Louisiana, continues, with the latest gambling facility, Sam's Town Casino, opening in Kansas City, Mo. last month.

Future expansion projects listed in Boyd's 1995 Annual Report, which was issued recently, include Hammond, Ind., Cape Girardeau and Reno, Nev., as new sites for casinos.

The company is pursuing expansion opportunities in areas where casino gambling is not currently permitted so it will be prepared to develop projects upon approval of casino gaming, the report says.

In explanation, the annual report noted that certain zoning matters will determine whether Boyd can proceed with a hotel/casino project on a site it has identified in Reno. The selection of the Indiana Gaming Commission will determine whether Boyd will continue with its Hammond plans.

Boyd officials have declined any comment concerning the progress of the Cape Girardeau project. The company owns land and maintains an office in the downtown area. The annual report merely said the local project is subject to approval of a license by the Missouri Gaming Commission.

Meanwhile, city officials at Hammond, Ind., have endorsed the Lake Michigan Charters group for its gambling development. The gaming commission, however, said it would give little or no weight to the local recommendation, according to a report by the Associated Press.

Charters has already spent a lot of money on the proposed development, including $26.7 million for a riverboat, the Empress III, which is scheduled to arrive in Hammond this weekend. Charters has said it would open July 4, 1996, if it gets the nod.

When asked about funding for the projects, officials from Bally's and Boyd assured the commission that the money was available.

Ellis Landau, Boyd's senior vice president and chief financial officer, told the seven-member commission that money was just a phone call away.

Boyd officials were questioned about citations the company's Treasure Chest casino in Louisiana has received for gambling while not cruising. The Indiana Legislature has been adamant that boats cruise while gambling takes place.