<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 1999.

                                       OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ TO
     _______________.

                        Commission file number 333-11811


                              ELDORADO RESORTS LLC
       -------------------------------------------------------------------
                             ELDORADO CAPITAL CORP.
       -------------------------------------------------------------------

           (EXACT NAMES OF REGISTRANTS AS SPECIFIED IN THEIR CHARTERS)


          NEVADA                                              88-0115550
          NEVADA                                              88-0367075
   -------------------------------------        -------------------------------
   (STATE OR OTHER JURISDICTION OF         (I.R.S. EMPLOYER IDENTIFICATION NO.)
   INCORPORATION OR ORGANIZATION)


                  345 North Virginia Street, Reno, Nevada 89501
      ---------------------------------------------------------------------
          (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)


                                 (775) 786-5700
        -----------------------------------------------------------------
              (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)


                                 NOT APPLICABLE
-------------------------------------------------------------------------------
     (FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR, IF CHANGED SINCE LAST
     REPORT)

Indicate by check mark whether the registrants (1) have filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrants were required to file such reports), and (2) have been subject to
such filing requirements for the past 90 days. Yes   X   No
                                                   -----   ----


Number of shares of common stock of Eldorado Capital Corp. outstanding at August
11, 1999: 2,500 shares.

<PAGE>

                              ELDORADO RESORTS LLC
                             ELDORADO CAPITAL CORP.

                                    FORM 10-Q


                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                        PAGE NO.
<S>                                                                                                     <C>
PART I.             FINANCIAL INFORMATION


         Item 1.    FINANCIAL STATEMENTS

                    Condensed Consolidated Balance Sheets...............................................  2
                    Condensed Consolidated Statements of Income.........................................  4
                    Condensed Consolidated Statements of Cash Flows.....................................  5
                    Notes to Condensed Consolidated Financial Statements................................  7

         Item 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                     FINANCIAL CONDITION AND RESULTS OF OPERATIONS......................................  12

         Item 3.    Quantitative and Qualitative Disclosures About Market Risk..........................  20

PART II.   OTHER INFORMATION


         Item 6.    EXHIBITS AND REPORTS ON FORM 8-K....................................................  21

SIGNATURES..............................................................................................  22

</TABLE>

                                       1

<PAGE>



                                     Part 1
                              FINANCIAL INFORMATION

Item 1.  Financial Statements.

                              ELDORADO RESORTS LLC
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (In thousands)

<TABLE>
<CAPTION>
                                                         June 30,                   December 31,
                                                           1999                         1998
                                                    --------------------         --------------------
                                                        (unaudited)
<S>                                                     <C>                          <C>
                          ASSETS
                          ------
Current assets:
        Cash and cash equivalents                               $ 6,488                      $ 8,087
        Accounts receivable, net                                  3,899                        3,415
        Inventory                                                 3,082                        2,904
        Prepaid expenses                                          1,412                        1,857
        Note receivable                                             242                          377
                                                    --------------------         --------------------

             Total current assets                                15,123                       16,640

Investment in joint venture                                      46,792                       46,792

Property and equipment,  net                                    150,429                      155,005

Other assets, net                                                12,549                       12,821
                                                    --------------------         --------------------

             Total assets                                      $224,893                     $231,258
                                                    ====================         ====================

</TABLE>

The accompanying notes are an integral part of these condensed consolidated
statements.

                                      2

<PAGE>

                              ELDORADO RESORTS LLC
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (In thousands)

<TABLE>
<CAPTION>

                                                                      June 30,                  December 31,
                                                                        1999                        1998
                                                                --------------------         -----------------
                                                                    (unaudited)
<S>                                                                <C>                        <C>
                 LIABILITIES AND MEMBERS' EQUITY
                 -------------------------------
Current liabilities:

       Current portion of long-term debt                                   $  1,005                   $ 1,136
       Current portion of capital lease obligations                             767                       749
       Accounts payable                                                       3,044                     2,752
       Interest payable                                                       3,954                     3,991
       Accrued payroll,  taxes and other accruals                             7,106                     5,944
                                                                --------------------         -----------------

              Total current liabilities                                      15,876                    14,572

Long-term debt, less current portion                                        111,577                   122,226
Capital lease obligations, less current portion                                 386                       773
Other liabilities                                                             1,114                     1,047
                                                                --------------------         -----------------

              Total liabilities                                             128,953                   138,618

Minority interest                                                             5,154                     5,154

Members' equity                                                              90,786                    87,486
                                                                --------------------         -----------------

              Total liabilities and members' equity                        $224,893                  $231,258
                                                                ====================         =================

</TABLE>

The accompanying notes are an integral part of these condensed consolidated
statements.

                                      3

<PAGE>


                              ELDORADO RESORTS LLC

                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                 (In thousands)

                                   (unaudited)

<TABLE>
<CAPTION>

                                                                   Three Months Ended                Six Months Ended
                                                                        June 30,                         June 30,
                                                              -----------------------------    -----------------------------
                                                                 1999             1998             1999            1998
                                                              ------------     ------------     ------------    ------------
<S>                                                           <C>               <C>              <C>             <C>
Operating Revenues:

       Casino                                                   $29,088          $27,202          $53,180         $49,027
       Food, beverage and entertainment                          12,115           11,104           23,261          20,990
       Hotel                                                      4,715            4,977            8,482           8,924
       Other                                                      1,582            1,795            3,216           3,157
                                                              ------------     ------------     ------------    ------------
                                                                 47,500           45,078           88,139          82,098

       Less:   Promotional allowances                            (4,079)          (3,754)          (7,882)         (7,339)
                                                              ------------     ------------     ------------    ------------

            Net revenues                                         43,421           41,324           80,257          74,759

Operating Expenses:
      Casino                                                     12,312           11,777           24,093          22,829
      Food, beverage and entertainment                            8,303            8,436           15,852          16,206
      Hotel                                                       1,905            2,041            3,650           3,787
      Other                                                       1,057            1,020            1,841           1,979
      Selling, general and administrative                         7,384            6,741           14,240          13,398
      Management fees                                               485              439              909             899
      Depreciation                                                3,453            3,456            6,912           6,782
                                                              ------------     ------------     ------------    ------------
           Total operating expenses                              34,899           33,910           67,497          65,880
                                                              ------------     ------------     ------------    ------------

Operating Income                                                  8,522            7,414           12,760           8,879

Interest Expense, net                                            (3,129)          (3,343)          (6,360)         (6,728)
                                                              ------------     ------------     ------------    ------------
Net Income Before Minority Interest                               5,393            4,071            6,400           2,151

Minority Interest in Net (Income) of Subsidiary (Note 4)              -                -                -               -
                                                              ------------     ------------     ------------    ------------

Net Income                                                     $  5,393          $ 4,071          $ 6,400         $ 2,151
                                                              ============     ============     ============    =============

</TABLE>

The accompanying notes are an integral part of these condensed consolidated
statements.

                                      4

<PAGE>

                              ELDORADO RESORTS LLC

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)

                                   (unaudited)

<TABLE>
<CAPTION>

                                                                                            Six Months Ended
                                                                                                June 30,
                                                                                ------------------------------
                                                                                     1999            1998
                                                                                -------------    -------------
<S>                                                                              <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
       Net Income                                                                $ 6,400            $ 2,151
       Adjustments to reconcile net income to net cash provided by
operating activities:
         operating activities:
            Depreciation                                                           6,912              6,782
            (Gain) Loss on sale of property and equipment                            (53)               205
            Decrease (Increase) in--
            Accounts receivable, net                                                (484)               479
            Note receivable                                                          135                 90
            Inventories                                                             (178)                 8
            Prepaid expenses                                                         445                355
            Other assets, net                                                        272                 76
            Increase (Decrease) in--
            Accounts payable, retention payable, interest payable,
                  accrued payroll, taxes and other accruals                        1,484               (840)
                                                                                -------------    -------------
            Net cash provided by operating activities                             14,933              9,306
                                                                                -------------    -------------

CASH FLOWS FROM INVESTING ACTIVITIES:
            Purchases of property and equipment                                   (2,515)            (3,923)
            Proceeds from sale of property and equipment                             232                175
                                                                                -------------    -------------

            Net cash (used in) investing activities                               (2,283)            (3,748)
                                                                                -------------    -------------

CASH FLOWS FROM FINANCING ACTIVITIES:
            Proceeds from long-term and other debt                                 7,500              8,250
            Principal payments on long-term and other debt                       (18,649)           (14,164)
            Distributions                                                         (3,100)            (1,400)
                                                                                -------------    -------------
            Net cash (used in)                                                   (14,249)            (7,314)
                                                                                -------------    -------------

</TABLE>


The accompanying notes are an integral part of these condensed consolidated
statements.

                                      5

<PAGE>

                              ELDORADO RESORTS LLC

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)

                                   (unaudited)

<TABLE>
<CAPTION>
                                                                         Six Months Ended
                                                                              June 30,
                                                                    -----------------------------

                                                                        1999              1998
                                                                    -------------     -------------
<S>                                                                   <C>               <C>
(DECREASE) IN CASH AND CASH EQUIVALENTS                             $   (1,599)      $    (1,756)
        CASH AND  CASH EQUIVALENTS AT BEGINNING
        OF PERIOD                                                        8,087             6,369
                                                                    -------------     -------------

        CASH AND CASH EQUIVALENTS AT END OF PERIOD                  $    6,488        $    4,613
                                                                    =============     =============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW

INFORMATION:
        Cash paid during period for interest                         $   6,079        $    6,464
                                                                    =============     =============

</TABLE>

The accompanying notes are an integral part of these condensed consolidated
statements.

                                      6

<PAGE>

                              ELDORADO RESORTS LLC

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.       General

         The condensed consolidated financial statements include the accounts
of Eldorado Resorts LLC ("Resorts"), a Nevada limited liability company,
which is the successor entity to Eldorado Hotel Associates Limited
Partnership (the "Predecessor Partnership") pursuant to a reorganization
effective July 1, 1996, Eldorado Capital Corp. ("Capital"), a Nevada
corporation and wholly-owned subsidiary of Resorts, and a majority owned
subsidiary, Eldorado Limited Liability Company ("ELLC") (together, the
"Company"). All significant intercompany accounts and transactions have been
eliminated in consolidation.

         In the opinion of Management, the accompanying unaudited condensed
consolidated financial statements contain all adjustments necessary to
present fairly the financial position of the Company as of June 30, 1999 and
the results of operations and cash flows for the three and six month periods
ended June 30, 1999 and 1998. The results of operations for such periods are
not necessarily indicative of the results to be expected for a full year.

         Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted. These condensed
consolidated financial statements should be read in conjunction with the
consolidated financial statements and notes thereto included in the Annual
Report of Eldorado Resorts LLC and Eldorado Capital Corp. on Form 10-K for
the year ended December 31, 1998.

2.       Senior Subordinated Notes

         On July 31, 1996, Resorts and Capital (the "Issuers") sold
$100,000,000 in aggregate principal amount of 10 1/2% Senior Subordinated
Notes due 2006 (the "Notes"). The Notes are joint and several obligations of
the Issuers. The Notes mature on August 15, 2006 and bear interest at the
rate of 10 1/2% per annum, payable semi-annually in arrears on February 15
and August 15 of each year, commencing on February 15, 1997. Pursuant to a
Registration Rights Agreement dated as of July 31, 1996, among the Issuers
and the initial purchasers party thereto, the Issuers filed a registration
statement under the Securities Act of 1933, as amended (the "1933 Act"), with
respect to an offer to exchange the Notes, which were issued in reliance on
an exemption from registration under the 1933 Act, for registered debt
securities of the Issuers ("Registered Notes") with terms identical to the
Notes. The exchange of the Notes for the Registered Notes was completed on
February 26, 1997.

3.       Long Term Debt and Notes Payable

         Long term debt consisted of the following (in thousands):

<TABLE>
<CAPTION>

                                                                                     June 30,              December 31,
                                                                                       1999                    1998
                                                                                --------------------     ------------------
                                                                                   (unaudited)
         <S>                                                                       <C>                      <C>
         10 1/2%  Senior  Subordinated  Notes:  semi-annual  payments
         of interest only, in arrears on February 15 and August 15 of
         each year, maturing August 15, 2006............................             $100,000                 $100,000

                                      7


<PAGE>

         Outstanding portion of reducing revolver and the revolving
         credit line, due in quarterly installments of principal (plus
         interest calculated using either the Base rate or Eurodollar
         rate; the Eurodollar rate at June 30, 1999 and 1998 was 5.20%
         and 5.65%, respectively, and the Base rate at June 30, 1999 and
         1998 was 7.75% and 8.5%, respectively) due July 31, 2001;
         secured by substantially all real property.....................                9,500                   20,000

         Notes payable to a corporation, due in a quarterly principal
         installment of $90,000 (including monthly interest at prime
         plus 2%, the rate at June 30, 1999 and 1998 was 9.75% and 10.5%,
         respectively), to July 30, 1999 when principal balance is due;
         secured by real property.......................................                  754                      893

         Notes payable to individuals, due in monthly installments of
         $34,614 (including monthly interest at 9%), to August 14,
         2006, when principal balance is due; secured by real
         property.......................................................                2,189                    2,294

         Notes Payable, Other...........................................                  139                      175
                                                                                -----------------        ------------------
                                                                                      112,582                  123,362
         Less--Current Maturities.......................................
                                                                                       (1,005)                  (1,136)
                                                                                -----------------        ------------------
                                                                                     $111,577                 $122,226
                                                                                ==================       ==================

</TABLE>

         Total net interest expense for the first six months of 1999 and
1998 was $6.4 million and $6.7 million, respectively.

         The amount of credit available pursuant to the Credit Facility
reduced to approximately $37.5 million on June 30, 1999 and, by its terms,
the facility reduces by an additional $1,562,500 as of the end of each
subsequent quarter until July 31, 2001 when it terminates and any balance
then outstanding becomes due and payable.

4.       Investment in Silver Legacy Resort Casino

         Effective March 1, 1994, ELLC and Galleon, Inc. (a Nevada
corporation owned and controlled by Mandalay Resort Group, formerly Circus
Circus Enterprises, Inc.) entered into a joint venture (the "Silver Legacy
Joint Venture") pursuant to a joint venture agreement (the "Joint Venture
Agreement") to develop the Silver Legacy Resort Casino (the "Silver Legacy").
The Silver Legacy consists of a casino and hotel located in Reno, Nevada,
which began operations on July 28, 1995. During 1994, ELLC contributed land
to the Silver Legacy Joint Venture with a fair value of $25,000,000 (a book
value of $17,215,000), and cash of $23,000,000. Additional cash contributions
of $3,900,000 were made in 1995, for a total equity investment of
$51,900,000. Galleon, Inc. contributed cash of $51,900,000 to the Silver
Legacy Joint Venture. Each partner owns a 50% interest in the Silver Legacy
Joint Venture.

         Under the terms of the Joint Venture Agreement, Profits of the
Silver Legacy Joint Venture (defined as the Silver Legacy Joint Venture's
taxable income with certain adjustments) in each fiscal year are allocated to
the Partners pursuant to the following formula: (i) the net operating income
of the Silver Legacy Joint Venture for financial reporting purposes
(determined in accordance with generally accepted accounting principles) for
such fiscal year, exclusive of interest expense, is credited to Galleon, Inc.
up to the amount of its Priority Allocation (as defined below) for such
fiscal year, any balance is credited to ELLC up to the amount of Galleon,
Inc.'s Priority Allocation for such fiscal year and any remaining balance is
credited to the Partners in proportion to their Percentage Interests, (ii)
interest expense of the Silver Legacy Joint Venture for such fiscal year is
charged to the

                                      8

<PAGE>


Partners in proportion to their Percentage Interests and (iii) the difference
between net operating income for such fiscal year less interest expense for
such fiscal year and Profits for such fiscal year is credited (or charged) to
the Partners in proportion to their Percentage Interests. If this formula
causes a Partner to be charged with a loss in any fiscal year, such Partner
will be allocated zero Profits for such year and the other Partner will be
allocated all of the Profits for such year. In addition, losses of the Silver
Legacy Joint Venture (defined as the Silver Legacy Joint Venture's taxable
loss with certain adjustments) in any fiscal year are allocated to the
Partners in proportion to their Percentage Interests.

         For so long as ELLC selects the General Manager of the Silver
Legacy, as provided in the Joint Venture Agreement, Galleon, Inc. is entitled
annually on a non-cumulative basis, commencing with the seven-month period
ending December 31, 1997 and for each subsequent 12-month period, to a
priority allocation of the Silver Legacy Joint Venture's operating income
(the "Priority Allocation") in an amount equal to approximately 11.54% of the
average of the "Adjusted Initial Investment" (as defined) at the beginning of
the period for which the determination is being made and at the end of such
period. For purposes of determining the amount of the Priority Allocation for
any period, the term "Adjusted Initial Investment" means $290,000,000 (the
"Initial Investment") as adjusted at the end of each year by subtracting (i)
the depreciation on the Initial Investment taken in such year in accordance
with the depreciation schedule agreed to by the Partners and (ii) the
principal payments which would have been made in repayment of the original
bank financing utilized for the development, construction and completion of
the Silver Legacy.

         The Joint Venture Agreement provides, subject to limitations on
distributions to Partners in other agreements to which the Silver Legacy
Joint Venture is a party, including its credit agreement, that Net Cash from
Operations (defined as the gross cash proceeds from all Silver Legacy Joint
Venture operations, less cash operating expenses and certain other expenses
and obligations, including interest and principal payments on indebtedness
including the financing required for the development, construction and
completion of the Silver Legacy (the "Construction Financing"), other than
indebtedness owed Partners or affiliates as provided for in the Joint Venture
Agreement, and reasonable reserves deemed necessary to meet anticipated
future obligations and liabilities of the Silver Legacy Joint Venture) is to
be distributed quarterly to the Partners in proportion to their Percentage
Interests in the Silver Legacy Joint Venture after satisfaction of certain
other obligations as follows: (i) at the end of the first year of operation
only, the distribution to each Partner of an amount equal to its tax
liability attributable to the Silver Legacy Joint Venture, (ii) the payment
of interest and principal on all loans to the Silver Legacy Joint Venture
from Partners and affiliates (excluding payment of principal on the
Construction Financing), (iii) the payment of principal and interest on any
Additional Capital Contribution Loan (as defined) of a Partner, plus the
distribution to the non-defaulting Partner who provided such Additional
Capital Contribution Loan of an amount equal to the amount of such Additional
Capital Contribution Loan, (iv) the payment of certain construction cost
overruns, (v) at the end of the first year of operation only, the payment of
the balance of the principal of the Construction Financing not including cost
overruns, (vi) to the extent earned and available, the distribution to
Galleon, Inc. of an amount up to the Priority Allocation, (vii) to the extent
earned and available, the distribution to ELLC of an amount up to the amount
distributed to Galleon, Inc. pursuant to the Priority Allocation, (viii)
after the first year of operation, the distribution to each Partner of an
amount equal to its tax liability attributable to the Silver Legacy Joint
Venture and (ix) the payment of the balance of the portion of the
Construction Financing provided by Galleon, Inc. or Mandalay Resort Group
until such loans are paid in full or refinanced. Any withdrawal from the
Silver Legacy Joint Venture by either Partner results in a reduction of
distributions to such withdrawing Partner to 75% of amounts otherwise payable
to such Partner.

         During 1994, the Predecessor Partnership contributed land with a fair
value of $22,185,000 (cost of $15,715,000) to ELLC; the minority interest member
of ELLC contributed land with a fair value of $2,815,000 (cost of $1,500,000) to
ELLC. Based upon these contributions, the Predecessor Partnership had an 88.75%
interest in ELLC as of December 31, 1994. In addition, during 1994, the Company
loaned $23,000,000 to ELLC to contribute to the Silver Legacy Joint Venture.
During 1995, the minority interest member contributed cash of $3,900,000 to
ELLC; as a result, the Predecessor Partnership's interest in ELLC was reduced to
                                      9
<PAGE>

76.76%. During 1998, the Company converted the $23,000,000 loan to ELLC and
accrued interest on the loan into equity of ELLC; as a result, the Company's
interest in ELLC was increased to 96.19% effective June 30, 1997.

                                      10

<PAGE>


         Summarized balance sheet and results of operations for the Silver
Legacy Joint Venture are as follows:

Summarized balance sheet information (in thousands):

<TABLE>
<CAPTION>
                                                                            June 30,              December 31,
                                                                              1999                    1998
                                                                        -------------            ------------
                                                                         (Unaudited)
<S>                                                                     <C>                      <C>
        Current assets ........................................          $  20,776                $  18,272
        Property and equipment, net ...........................            307,025                  313,181
        Other assets ..........................................              1,565                    1,772
                                                                        -------------            ------------
                    Total assets ..............................          $ 329,366                $ 333,225
                                                                        =============            ============

        Current liabilities ...................................          $  15,458                $  16,661
        Long-term liabilities..................................            187,500                  196,000
        Partners' equity.......................................            126,408                  120,564
                                                                        -------------            ------------
                    Total liabilities and partners' equity.....          $ 329,366                $ 333,225
                                                                        =============            ============
</TABLE>

Summarized results of operations (in thousands) (unaudited):

<TABLE>
<CAPTION>
                                              Three Months Ended                        Six Months Ended
                                                   June 30,                                 June 30,
                                       -----------------------------------     ------------------------------------
                                           1999                1998                1999                  1998
                                       ---------------     ---------------     ---------------       --------------
<S>                                    <C>                 <C>                 <C>                   <C>
        Net Revenues .............     $   44,371          $    43,153         $  81,637             $   79,375
        Operating Expenses .......        (35,362)             (34,535)          (67,438)               (66,122)
                                       ---------------     ---------------     ---------------       --------------

        Operating Income .........          9,009                8,618            14,199                 13,253
        Other (Expense)...........         (4,172)              (4,740)           (8,355)                (9,549)
                                       ---------------     ---------------     ---------------       --------------

        Net Income (Loss).........     $    4,837          $     3,878         $   5,844             $    3,704
                                       ===============     ===============     ===============       ==============
</TABLE>

                                       11

<PAGE>

Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.


GENERAL

         Eldorado Resorts LLC ("Resorts") was formed in June 1996 to be the
successor to Eldorado Hotel Associates Limited Partnership (the "Predecessor
Partnership") pursuant to an exchange of all the outstanding partnership
interests in the Predecessor Partnership for membership interests in Resorts
(the "Reorganization"). The Reorganization was effective on July 1, 1996.
Resorts owns and operates the Eldorado Hotel & Casino (the "Eldorado"), a
premier hotel/casino and entertainment facility in Reno, Nevada. In addition to
owning the Eldorado, Resorts' majority owned subsidiary, Eldorado Limited
Liability Company, a Nevada limited liability company ("ELLC"), owns a 50%
interest in a joint venture (the "Silver Legacy Joint Venture") which owns the
Silver Legacy Resort Casino (the "Silver Legacy"), a major themed hotel/casino
located adjacent to the Eldorado. The minority interest in ELLC is owned by the
principal equityholders of Resorts. In June 1998, ELLC completed a
recapitalization, effective June 30, 1997, converting a note receivable and
accrued interest thereon into equity, increasing Resorts' interest in ELLC from
approximately 77% to approximately 96%. Resorts, ELLC and Eldorado Capital Corp.
("Capital"), a wholly-owned subsidiary of Resorts, which holds no significant
assets and conducts no business activity, are collectively referred to as the
"Company."

         The Company accounts for its investment in the Silver Legacy Joint
Venture utilizing the equity method of accounting. The Company's consolidated
net income includes its proportional share of the Silver Legacy Joint Venture's
net income (loss) before taxes as determined in accordance with the terms of the
Silver Legacy Joint Venture's joint venture agreement (the "Joint Venture
Agreement"). See Note 4 of the Notes to Condensed Consolidated Financial
Statements included in Item 1 of this Report.

         The following discussion of the Company's operations relates to the
Eldorado except as otherwise indicated.


THREE MONTHS ENDED JUNE 30, 1999 COMPARED TO
THREE MONTHS ENDED JUNE 30, 1998

NET REVENUES

         Net revenues increased by approximately $2.1 million, or 5.1%, to $43.4
million for the three months ended June 30, 1999 compared to $41.3 million for
the same period in 1998. The Company did not recognize income (loss) from its
unconsolidated affiliate during the second quarter of 1999 and 1998 as the
result of a priority allocation to Galleon, Inc. pursuant to the Joint Venture
Agreement. The Company's increase in net revenues during the 1999 period is
primarily a result of an increase in casino and food, beverage and entertainment
revenues.

          Casino revenues increased by approximately $1.9 million, or 6.9%, to
$29.1 million for the three months ended June 30, 1999 compared to $27.2 million
for the same period in 1998. The increase in casino revenues was due to
increased revenue from table games and slots primarily due to an increase in
gaming volume and an increase in table games hold percentage as compared to the
previous period.

         Food, beverage and entertainment revenues increased by approximately
$1.0 million, or 9.1%, to $12.1 million for the three months ended June 30,
1999 compared to $11.1 million during the same period in 1998. The increase
is primarily a result of selective price increases in the average check at
the Eldorado's restaurants and an increase in occupancy in the Eldorado
Showroom in the 1999 period as compared to the 1998 period.

          Hotel revenues decreased by approximately $0.3 million, or 5.3%, to
$4.7 million for the three months ended June 30, 1999 compared to $5.0
million during the same period in 1998. The decrease was due primarily to

                                       12

<PAGE>

a decrease in the Eldorado's average daily rate and hotel occupancy rate to
approximately $61 and 95% in the second quarter of 1999 as compared to $63
and 97% in the second quarter of 1998. The absence of the American Bowling
Congress National Championship Bowling tournament held from February through
June 1998, was a contributing factor in the decrease of the Company's average
daily rate.

         Promotional allowances expressed as a percentage of casino revenues
were 14.0% for the second quarter of 1999 compared to 13.8% for the same period
in 1998.

OPERATING EXPENSES

         The Company's operating expenses increased by approximately $1.0
million, or 2.9%, to $34.9 million for the three months ended June 30, 1999 from
$33.9 million during the same period in 1998. This increase is primarily
attributable to an increase in casino and selling, general and administrative
expenses.

         Casino expenses increased by approximately $0.5 million, or 4.5%, to
$12.3 million for the three months ended June 30, 1999 from $11.8 million during
the same period in 1998 due to an increase in casino marketing and event
expenses and the addition of a poker room in May 1998.

         Food, beverage and entertainment expenses decreased slightly by
approximately $0.1 million, or 1.6%, to approximately $8.3 million for the
three months ended June 30, 1999 from approximately $8.4 million during the
same period in 1998. Increases in food and beverage, primarily due to
increases in payroll and cost of sales, were offset by a decrease in
entertainment professional fee expenditures.

     Hotel expenses remained relatively constant at $1.9 million for the
three months ended June 30, 1999 compared with $2.0 million during the same
period in 1998.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES AND MANAGEMENT FEES

         Selling, general and administrative expenses and management fees
increased by approximately $0.7 million, or 9.6%, to $7.9 million for the
three months ended June 30, 1999 from $7.2 million during the same period in
1998. The increase was primarily due to an employee bonus accrual for the
three months ended June 30, 1999 as compared to the same period in 1998 when
there was no employee bonus accrual.

DEPRECIATION

         Depreciation for the three months ended June 30, 1999 and 1998 was
comparable at $3.5 million.


INTEREST EXPENSE, NET

         Interest expense, net of capitalized interest and interest income,
decreased approximately $0.2 million, or 6.4%, to $3.1 million in the second
quarter of 1999 compared to $3.3 million for the same period in 1998 as a
result of a decrease in the average outstanding borrowings in the second
quarter of 1999, as compared to the same period in 1998.

                                       13

<PAGE>

NET INCOME

         As a result of the factors described above, net income for the three
months ended June 30, 1999 increased by approximately $1.3 million, or 32.5%,
to $5.4 million compared to $4.1 million during the same period in 1998.

SIX MONTHS ENDED JUNE 30, 1999 COMPARED TO
SIX MONTHS ENDED JUNE 30, 1998

NET REVENUES

         Net revenues increased by approximately $5.5 million, or 7.4%, to
$80.3 million for the six months ended June 30, 1999 compared to $74.8
million for the same period in 1998. The Company did not recognize income
(loss) from its unconsolidated affiliate for the six months ended June 30,
1999 and 1998 as the result of a priority allocation to Galleon, Inc.
pursuant to the Joint Venture Agreement. The Company's increase in net
revenues during the 1999 period is primarily a result of an increase in
casino and food, beverage and entertainment revenues.

          Casino revenues increased by approximately $4.2 million, or 8.5%, to
$53.2 million for the six months ended June 30, 1999 compared to $49.0 million
for the same period in 1998. The increase in casino revenues was due primarily
to increased revenue from table games and slots due to an increase in gaming
volume as compared to the previous period.

         Food, beverage and entertainment revenues increased by approximately
$2.3 million, or 10.8%, to $23.3 million for the six months ended June 30,
1999 compared to $21.0 million during the same period in 1998. The increase
is primarily a result of selective price increases in the average check at
the Eldorado's restaurants and an increase in occupancy in the Eldorado
Showroom in the 1999 period as compared to the 1998 period.

          Hotel revenues decreased by approximately $0.4 million, or 5.0%, to
$8.5 million for the six months ended June 30, 1999 compared to $8.9 million
during the same period in 1998. The decrease was due primarily to a decrease
in the Eldorado's average daily rate and hotel occupancy rate to
approximately $56 and 93% for the six months ended June 30, 1999 as compared
to $58 and 94% for the same period in 1998. The absence of the American
Bowling Congress National Championship Bowling tournament held from February
through June 1998, was a contributing factor in the decrease of the Company's
average daily rate.

         Promotional allowances expressed as a percentage of casino revenues
were 14.8% for the six months ended June 30, 1999 compared to 15.0% for the
same period in 1998.

OPERATING EXPENSES

         The Company's operating expenses increased by approximately $1.6
million, or 2.5%, to $67.5 million for the six months ended June 30, 1999
from $65.9 million during the same period in 1998. This increase is primarily
attributable to an increase in casino and selling, general and administrative
expenses.

         Casino expenses increased by $1.3 million, or 5.5%, to $24.1 million
for the six months ended June 30, 1999 from $22.8 million during the same period
in 1998 due to an increase in slot promotional and marketing expenditures and
the addition of a poker room in May 1998.

         Food, beverage and entertainment expenses decreased by approximately
$0.4 million, or 2.2%, to $15.9 million for the six months ended June 30, 1999
from approximately $16.2 million during the same period in 1998 primarily due to
a decrease in entertainment professional fees.

                                       14

<PAGE>

     Hotel expenses remained relatively constant at $3.7 million for the six
months ended June 30, 1999 from $3.8 million during the same period in 1998.


SELLING, GENERAL AND ADMINISTRATIVE EXPENSES AND MANAGEMENT FEES

         Selling, general and administrative expenses and management fees
increased by 6.0% to $15.1 million for the six months ended June 30, 1999
compared to $14.3 million during the same period in 1998. The increase was
primarily due to an employee bonus accrual for the six months ended June 30,
1999 as compared to the same period in 1998 when there was no employee bonus
accrual.

DEPRECIATION

     Depreciation for the six months ended June 30, 1999 was $6.9 million
compared to $6.8 million for the same period in 1998, an increase of 1.9%.


INTEREST EXPENSE, NET

         Interest expense, net of capitalized interest and interest income,
decreased by approximately $0.4 million, or 5.5%, to $6.4 million for the six
months ended June 30, 1999 compared to $6.7 million for the same period in 1998
as a result of a decrease in the average outstanding borrowings during the first
six months of 1999, as compared to the same period in 1998.


NET INCOME

         As a result of the factors described above, net income for the six
months ended June 30, 1999 increased by approximately $4.2 million, or 197.5%,
to $6.4 million compared to $2.2 million during the same period in 1998.


LIQUIDITY AND CAPITAL RESOURCES

         The Company's primary sources of liquidity and capital resources
have been through cash flow from operations, borrowings under various credit
agreements and the issuance in July 1996 of $100 million in aggregate
principal amount of 10 1/2% Senior Subordinated Notes due 2006 (the "10 1/2%
Notes"). Since 1996, the Company has completed several expansion and
remodeling projects, accounting for a significant use of cash flow from
operations and borrowed funds. The Company's earnings before interest, taxes,
depreciation and amortization as adjusted to exclude equity in net income of
its unconsolidated affiliate was $19.7 million for the six months ended June
30, 1999, as compared to $15.7 million during the same period in 1998. Net
cash provided by operating activities was $14.9 million for the six months
ended June 30, 1999 compared to $9.3 million for the same period of the prior
year.

         At June 30, 1999, the Company had $6.5 million of cash and cash
equivalents and $26.6 million available pursuant to its Credit Facility (as
defined below). The net proceeds of the offering (the "Offering") by the Company
and its wholly-owned subsidiary, Eldorado Capital Corp., of the 10 1/2% Notes
were used to repay a portion of the indebtedness under the Loan Agreement dated
as of March 25, 1994, between the Company, the banks named therein and Bank of
America NT&SA, as administrative agent (the "Former Credit Facility"). The
Former Credit Facility was amended concurrently with the closing of the Offering
to provide the Company with a senior secured revolving credit facility in the
original amount of $50 million (as amended, the "Credit Facility"). The amount
of credit available pursuant to the Credit Facility reduced to approximately
$37.5 million on June 30,

                                       15

<PAGE>

1999 and, by its terms, the facility reduces by an additional $1,562,500 as
of the end of each subsequent quarter until July 31, 2001 when it terminates
and any balance then outstanding becomes due and payable.

         As of June 30, 1999, the Company had outstanding $100 million in
aggregate principal amount of 10 1/2% Notes, $9.5 million of borrowings and
$1.4 million of letters of credit under the Credit Facility and $2.1 million
of other long term debt (net of current portion).

         The Operating Agreement of Resorts dated June 28, 1996 obligates
Resorts to distribute each year for as long as it is not taxed as a corporation
to each of its members an amount equal to such member's allocable share of the
taxable income of Resorts multiplied by the highest marginal combined Federal,
state and local income tax rate applicable to individuals for that year. For the
six months ended June 30, 1999, Resorts made distributions of $3.1 million to
its members, as compared to $1.4 million during the same period in 1998.

         During the six months ended June 30, 1999, the Company's principal uses
of funds were related to debt service and recurring capital expenditures. Total
capital expenditures for the six months ended June 30, 1999 were $2.5 million.

         The Company's future sources of liquidity are anticipated to be from
its operating cash flow, funds available from the Credit Facility and capital
lease financing for certain of its fixed asset purchases. The Company's
anticipated uses of cash in the near term include a nightclub and entertainment
facility, budgeted at approximately $2.5 million and recurring capital
expenditures and debt service.

                                       16

<PAGE>

YEAR 2000 READINESS DISCLOSURE

BACKGROUND

         In the past, many computer software programs were written using two
digits rather than four to define the applicable year. As a result, information
technology such as date-sensitive computer software ("IT") as well as non-IT
systems such as equipment containing microcontrollers or other embedded
technology may recognize a date using "00" as the year 1900 rather than the year
2000 (the "Year 2000"). The inability of date-sensitive IT and non-IT systems
and equipment using two digits rather than four to differentiate between the
years 1900 and 2000 may cause such systems and equipment to fail or create
erroneous results at January 1, 2000 (a "Year 2000 Disruption").


RISK FACTORS

         There is worldwide concern that Year 2000 Disruptions could wreak havoc
on global economies, including the U.S. domestic economy. The extent of the
potential impact from Year 2000 Disruptions is not yet known, and may not be
adequately identified prior to the Year 2000. In the event of a significant
adverse impact on the global economies or on the U.S. domestic economy, the
Company may be materially and adversely impacted, even if its own IT and non-IT
systems and equipment are Year 2000 compliant.

         Date-sensitive IT and non-IT systems and equipment are utilized in
virtually all aspects of the hotel, casino and related operations at the
Eldorado and at the Company's 50% owned joint venture property, Silver Legacy.
While task forces have initiated programs at the Eldorado and Silver Legacy to
identify the date-sensitive IT and non-IT systems and equipment at these
properties and to take such actions as may be necessary to make such systems and
equipment Year 2000 compliant, a Year 2000 Disruption could occur in hotel,
casino and related IT and non-IT systems and equipment utilized at the Eldorado
and/or Silver Legacy due to a failure of such systems and equipment to be Year
2000 compliant. Depending on the severity and duration, any such Year 2000
Disruption could have a material adverse impact on the Company.

         In addition to the risks associated with a Year 2000 Disruption from
the failure of the IT and non-IT systems and equipment at the Eldorado and
Silver Legacy, the Company is exposed to the risk that one or more of the
suppliers of critical goods or services could experience a Year 2000 Disruption
that impacts the ability of such suppliers to provide all of the goods and
services required in the operation of the Eldorado and/or Silver Legacy. The
Company believes that the impact of such an interruption in the delivery of
goods would be limited due to the availability of alternative suppliers of the
essential goods utilized in the operations conducted at the Eldorado and Silver
Legacy, although no assurances can be given that a Year 2000 Disruption will not
materially disrupt the ability to secure delivery of such goods from any source.

         A Year 2000 Disruption of essential services to the Eldorado or Silver
Legacy, such as utilities or banking services, could, depending on the extent of
the disruption, have a material adverse impact on the Company. Because the
Eldorado and Silver Legacy obtain their utilities from the same providers that
serve all of the greater Reno area and there are no alternative sources from
which to obtain such services (other than limited-capacity generators for the
production of electricity during short-term emergency situations), a Year 2000
Disruption in the delivery of power, natural gas or water would most likely
impact all or a significant portion of the Reno area, including the Eldorado and
Silver Legacy, and would require that such properties be closed for the duration
of any extended interruption of such service. While an interruption in telephone
service might not require that the affected properties be closed, such an
interruption could, depending on the nature and duration of the interruption,
have a material adverse effect on operations at the Eldorado and Silver Legacy.

         The Company is exposed to the risk that a Year 2000 Disruption could
result in a significant interruption of banking services in the Reno area. A
significant number of the Eldorado's and Silver Legacy's customers depend

                                       17

<PAGE>

on credit card processing and automated teller machines to access cash or
credit during their visits to the Eldorado and Silver Legacy. In addition,
the Eldorado and Silver Legacy depend on a reliable source of cash to fund
the day-to-day casino operations at those properties. Accordingly, any
interruption of banking services could, depending upon the nature and
duration of the interruption, have a material adverse effect on operations at
the Eldorado and Silver Legacy.

         The Company is also exposed to the risk that a Year 2000 Disruption
could result in a significant interruption of airline service to the Reno area.
The Company believes that a significant number of the Eldorado's and Silver
Legacy's customers (including hotel guests and walk-in customers at the casinos)
depend on the airlines for their travel to and from Reno. Accordingly, any such
interruption of airline service could, depending upon the extent of the
interruption, have a material adverse effect on operations at the Eldorado and
Silver Legacy.


APPROACH

         The Company has established a task force to coordinate its response to
the Year 2000. This task force includes the Company's Chief Financial Officer,
Manager of Internal Audit, the Director of Information Services as well as
support staff. An outside consultant was also engaged who assisted in
establishing a Year 2000 compliance program for the Company at the Eldorado.

         A separate task force has been established by the Silver Legacy Joint
Venture at the Silver Legacy to coordinate the response to the Year 2000 at that
property. This task force includes Silver Legacy's Director of Finance and
Administration and its Director of Information Services as well as support
staff.

         The Year 2000 compliance programs developed for the Eldorado and Silver
Legacy consist of the following phases:

          PHASE 1   Compilation of an inventory of IT and non-IT systems and
                    equipment that may cause a Year 2000 Disruption ("Critical
                    Systems and Equipment").

          PHASE 2   Identification and prioritization of the Critical Systems
                    and Equipment from the inventory compiled in Phase 1 and
                    inquiries of third parties with whom the Eldorado or Silver
                    Legacy does significant business (I.E., vendors and
                    suppliers) as to the state of their Year 2000 readiness.

          PHASE 3   Analysis of the identified Critical Systems and Equipment to
                    determine which systems and equipment are not Year 2000
                    compliant and evaluation of the costs to repair or replace
                    those systems and equipment.

          PHASE 4   Repair or replacement and testing of noncompliant Critical
                    Systems and Equipment and the testing of Critical Systems
                    and Equipment for which representation as to Year 2000
                    compliance has not been received or for which representation
                    has been received but has not been confirmed.

         Neither the Eldorado nor Silver Legacy is currently planning to use any
independent verification and validation process to assure the reliability of
their risk and cost estimates. However, this position will continue to be
reevaluated as the Year 2000 compliance programs proceed at the Eldorado and
Silver Legacy.


STATUS

                                       18

<PAGE>

         Phases 1 and 2 are substantially complete at the Eldorado and Silver
Legacy except for the receipt of responses to inquiries of third parties as to
their Year 2000 readiness, which is currently ongoing with respect to each
property. All initial inquiries to identified significant third party vendors
and suppliers have been completed by the Eldorado and Silver Legacy. To date
neither the Eldorado nor Silver Legacy has been advised by any significant third
party supplier of goods or services that it will not be fully Year 2000
compliant by the Year 2000.

         Phases 3 and 4 are ongoing at the Eldorado and Silver Legacy. September
30, 1999 has been established as the current target date to complete the Year
2000 compliance program at both properties. Based upon the analysis conducted to
date, the Company believes all of the Critical Systems and Equipment at the
Eldorado and Silver Legacy are either currently Year 2000 compliant or will be
Year 2000 compliant by September 30, 1999, although there can be no assurance as
to the ability to achieve full Year 2000 compliance at either property. The most
significant aspect of the Eldorado's Year 2000 compliance that has been
identified is the software modification of the property's casino system. The
most significant aspect of Silver Legacy's Year 2000 compliance that has been
identified is the replacement of that property's non-Year 2000 compliant
personal computers.


COSTS

         The total cost to the Company of making its systems at the Eldorado
Year 2000 compliant, including estimated costs of remediation or replacement and
testing, is currently estimated to be in the range of $800,000 to $1 million.
This current estimate includes the following: (i) $670,000 to $840,000 relating
to software modification, of which approximately $279,000 had been incurred at
June 30, 1999; and (ii) $130,000 to $160,000 to replace problem systems and
equipment, of which approximately $34,000 had been incurred at June 30, 1999.
The replacement of problem systems and equipment costs will be capitalized and
depreciated over their expected useful lives. To the extent existing hardware or
software is replaced, the Company will recognize a loss currently for the
undepreciated balance. This loss is included in the above cost estimate.
Furthermore, all costs related to software modification, as well as all costs
associated with the Company's administration of its Year 2000 project, are being
expensed as incurred.

         The total cost to Silver Legacy of making the systems at that property
Year 2000 compliant, including estimated costs of remediation or replacement and
testing, is currently estimated to be in the range of $600,000 to $850,000, of
which approximately $760,900 had been incurred at June 30, 1999. The current
estimated cost relating to Silver Legacy's software modification is $200,000 to
$250,000, of which $230,700 had been incurred at June 30, 1999. The current
estimated costs to replace Silver Legacy's problem systems and equipment is
$400,000 to $600,000, of which $166,400 had been incurred at June 30, 1999, of
which $363,800 is being financed by a capital lease. The replacement of problem
systems and equipment costs will be capitalized and depreciated over their
expected useful lives. To the extent existing hardware or software is replaced,
the Silver Legacy will recognize a loss currently for the undepreciated balance.
This loss is included in the above cost estimate. Furthermore, all costs related
to software modification, as well as all costs associated with the Silver
Legacy's administration of its Year 2000 project, are being expensed as
incurred.

         The Company believes the most significant risk of a Year 2000
Disruption at the Eldorado or Silver Legacy is the loss of utilities at those
properties, particularly power or water, as to which a contingency plan is not
feasible. The Eldorado and Silver Legacy are evaluating various alternatives to
other potential Year 2000 Disruptions that might occur at the Eldorado or Silver
Legacy.

         The source of funding of the costs incurred in connection with the Year
2000 compliance programs at the Eldorado and Silver Legacy is anticipated to be
the operating cash flows at the respective properties.

         There can be no assurance that as yet unidentified costs will not be
incurred in connection with the Year 2000 compliance program at the Eldorado or
at Silver Legacy or that the costs actually incurred to achieve full Year 2000
compliance at either property will not be materially higher than currently
estimated.

                                       19

<PAGE>

FORWARD-LOOKING STATEMENTS

         Certain information included in this report and other materials filed
or to be filed by the Company with the Securities and Exchange Commission (as
well as information included in oral statements or written statements made or to
be made by the Company) contains statements that are forward-looking within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such statements include
information relating to current expansion projects, plans for future expansion
projects and other business development activities as well as other capital
spending, financing sources, Year 2000 compliance and effects of regulation
(including gaming and tax regulation) and competition. Such forward-looking
information involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such results may
differ from those expressed in any forward-looking statements made by or on
behalf of the Company. These risks and uncertainties include, but are not
limited to dependence on existing management, leverage and debt service
(including sensitivity to fluctuations in interest rates), domestic or global
economic conditions, changes in Federal or state tax laws or the administration
of such laws, changes in gaming laws or regulations (including the legalization
of gaming in certain jurisdictions), risks and uncertainties relating to any
development and construction activities and applications for licenses and
approvals under applicable laws and regulations (including gaming laws and
regulations).


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

                                       20

<PAGE>

PART II.   OTHER INFORMATION

         ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

                   (A)   EXHIBITS
                         THE FOLLOWING EXHIBIT IS FILED AS PART OF THIS
REPORT.

                         EXHIBIT NUMBER             DESCRIPTION


                         27                         FINANCIAL DATA SCHEDULE
                                                    FOR THE SIX MONTHS ENDED
                                                    JUNE 30, 1999

                   (B)   REPORTS ON FORM 8-K

                         NO REPORT ON FORM 8-K WAS FILED DURING THE PERIOD
                         COVERED BY THIS REPORT.

                                       21

<PAGE>

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrants have duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized.


                                       ELDORADO RESORTS LLC


Date:   August 12, 1999                By: /S/ Donald L. Carano
                                           ----------------------------------
                                           Donald L. Carano
                                           Chief Executive Officer, President
                                           and Presiding Manager


Date:   August 12, 1999                By: /S/ Robert M. Jones
                                          -----------------------------------
                                           Robert M. Jones
                                           Chief Financial Officer of
                                           Eldorado Resorts LLC (Principal
                                           Financial and Accounting Officer)


                                       ELDORADO CAPITAL CORP.


Date:  August 12, 1999                 By: /S/ Donald L. Carano
                                          -----------------------------------
                                           Donald L. Carano
                                           President


Date:  August 12, 1999                 By: /S/ Gene R. Carano
                                          -----------------------------------
                                           Gene R. Carano
                                           Treasurer (Principal Financial and
                                           Accounting Officer)

                                       22

<PAGE>

                                 EXHIBITS INDEX

<TABLE>
<CAPTION>

EXHIBIT
NUMBER                              DESCRIPTION OF EXHIBIT
--------                            ----------------------
<S>                                 <C>
     27                             Financial Data Schedule
</TABLE>

                                       23