<TABLE> <S> <C>

<ARTICLE>                        6
<LEGEND>
            THIS SCHEDULE CONTAINS  SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
            ATLANTIC CITY BOARDWALK ASSOCIATES, L.P.'S FORM 10-Q FOR THE QUARTER
            ENDED  MARCH 31, 1998  AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
            TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK>                         730408
<NAME>                        ATLANTIC CITY BOARDWALK ASSOCIATES, L.P.
<MULTIPLIER>                                         1
<CURRENCY>                                           U.S.
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                  JAN-1-1998
<PERIOD-END>                                   MAR-31-1998
<EXCHANGE-RATE>                                          1
<INVESTMENTS-AT-COST>                                    0
<INVESTMENTS-AT-VALUE>                                   0
<RECEIVABLES>                                      858,000
<ASSETS-OTHER>                                     280,000
<OTHER-ITEMS-ASSETS>                           112,921,000
<TOTAL-ASSETS>                                 114,059,000
<PAYABLE-FOR-SECURITIES>                                 0
<SENIOR-LONG-TERM-DEBT>                         75,762,000
<OTHER-ITEMS-LIABILITIES>                       16,694,000
<TOTAL-LIABILITIES>                             92,456,000
<SENIOR-EQUITY>                                        450
<PAID-IN-CAPITAL-COMMON>                                 0
<SHARES-COMMON-STOCK>                                    0
<SHARES-COMMON-PRIOR>                                    0
<ACCUMULATED-NII-CURRENT>                                0
<OVERDISTRIBUTION-NII>                                   0
<ACCUMULATED-NET-GAINS>                                  0
<OVERDISTRIBUTION-GAINS>                                 0
<ACCUM-APPREC-OR-DEPREC>                                 0
<NET-ASSETS>                                        48,007
<DIVIDEND-INCOME>                                        0
<INTEREST-INCOME>                                  127,000
<OTHER-INCOME>                                   7,263,000
<EXPENSES-NET>                                   7,463,000
<NET-INVESTMENT-INCOME>                                  0
<REALIZED-GAINS-CURRENT>                                 0
<APPREC-INCREASE-CURRENT>                                0
<NET-CHANGE-FROM-OPS>                             (222,000)
<EQUALIZATION>                                           0
<DISTRIBUTIONS-OF-INCOME>                                0
<DISTRIBUTIONS-OF-GAINS>                                 0
<DISTRIBUTIONS-OTHER>                                    0
<NUMBER-OF-SHARES-SOLD>                                  0
<NUMBER-OF-SHARES-REDEEMED>                              0
<SHARES-REINVESTED>                                      0
<NET-CHANGE-IN-ASSETS>                            (222,000)
<ACCUMULATED-NII-PRIOR>                                  0
<ACCUMULATED-GAINS-PRIOR>                                0
<OVERDISTRIB-NII-PRIOR>                                  0
<OVERDIST-NET-GAINS-PRIOR>                               0
<GROSS-ADVISORY-FEES>                               33,000
<INTEREST-EXPENSE>                               3,216,000
<GROSS-EXPENSE>                                  7,612,000
<AVERAGE-NET-ASSETS>                            21,714,000
<PER-SHARE-NAV-BEGIN>                               48,500
<PER-SHARE-NII>                                          0
<PER-SHARE-GAIN-APPREC>                                  0
<PER-SHARE-DIVIDEND>                                     0
<PER-SHARE-DISTRIBUTIONS>                                0
<RETURNS-OF-CAPITAL>                                     0
<PER-SHARE-NAV-END>                                 48,007
<EXPENSE-RATIO>                                       0.35
<AVG-DEBT-OUTSTANDING>                          94,437,500
<AVG-DEBT-PER-SHARE>                               209,861
        

</TABLE>