EXHIBIT 10.20
                                
                                
                              -52-
                                

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GROUND LEASE
                                
                                
     THIS  LEASE  made and entered into this 22nd day of October,

1996,  by  and between the 3600 Michigan Company Ltd.  ("Lessor")

and  SHOWBOAT  MARINA CASINO PARTNERSHIP, an Indiana  Partnership

("Lessee").


                            ARTICLE I

                        (LEASED PREMISES)
                                
     Lessor,  for and consideration of the rents to be  paid  and

the  agreements and obligations herein contained on the  part  of

the  Lessee to be observed and performed hereby leases to  Lessee

and  Lessee hereby leases from Lessor that real estate  described

on  Exhibit  "A"  attached hereto and made  a  part  hereof  (the

"leased premises").

     The "leased premises" is further described as being a ground

lease,  which includes some improved parking/street  areas,  some

fencing,  and  some  existing (minimal)  site  lighting,  and  it

includes   the  occupancy of one (l) building, all  of  which  is

identified  on  Exhibit "A"; It does not include other  buildings

that  may  be on the "leased premises" not identified as included

in the leased premises".

     During  the first two (2) years of the initial term of  this

Lease,  Lessee, at its option, may lease additional areas  within

the  area identified on Exhibit B, as provided in Article VII  C.

herein.

                                
                           ARTICLE II

                             (TERM)
                                
     The  initial  term of this Lease shall be for  a  period  of

three (3) years commencing on the 1st day of November, 1996,  and

terminating  on  the  31st day of October,  1999,  unless  sooner

terminated or extended as hereinafter provided.

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                          ARTICLE III

                             (RENT)
                                
     Lessee shall pay to Lessor a rental payment in the amount of

$771.88  per acre (ground lease) per month plus $2.00 per  square

foot per year for any building occupied by Tenant, as Lessee  and

Lessor  may agree.  Said rental payment shall be paid as follows:

$9,262.56  upon  execution of this Ground Lease,  and,  $4,631.28

each month beginning December 1, 1996, and on the 1st day of each

month thereafter, during the term.

     Said monthly rental payment of $771.88 per acre includes the

amount  of  $171.88  which is the amount  required  to  reimburse

Lessor  on a monthly basis for the current real estate taxes  per

acre assessed against the Leased Premises.

     On  May  1st of each year during the term of this Agreement,

the  monthly  rental  payments per acre  shall  be  increased  or

decreased  by  such  amounts as are  equal  to  the  increase  or

decrease in real estate taxes per acre then assessed against  the

Leased Premises.

                                
                           ARTICLE IV

                              (USE)
                                
     Lessee shall use the leased premises for employee parking in

conjunction  with  its casino facility in East Chicago,  Indiana,

which  use  may  include  employee  parking,  bus  staging  area,

employee  waiting facility (i.e. trailers if the Lab Building  is

not suitable for such use) and security facilities.

     Lessor makes no representations or warranties concerning the

conditions, including soil conditions, on the Leased Premises  or

the availability of sanitary sewers or other utilities.

     Lessee    has    visually   inspected   the   premises   and 
     
accepts    said    Leased     Premises     in    an    "as    is" 

condition,   latent    defects    and    environmental    matters    

accepted.   Provided    Lessee    does    not     remove      any

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debris  or  soil from the Leased Premises. Lessee's environmental

liability   shall  be  limited  to  such  environmental   defects

resulting  from  or  relating  to  Lessee's  use  of  the  leased

premises,  from  which defects Lessee shall  indemnify  and  hold

Lessor harmless.

     Lessee shall only use the premises in a lawful manner,  and,

any  and all repairs, alterations, and improvements required  for

compliance with the Lessee's lawful use of the premises shall  be

made at Lessee's sole expense.

                                
                            ARTICLE V

                           (INSURANCE)
                                
     Lessee  shall procure and maintain general public  liability

insurance  against claims for personal injury, death or  property

damage  occurring in or about the leased premises in amounts  and

with  insurance  carriers acceptable to  the  Lessor.   All  such

policies of insurance shall name Lessor as an additional  insured

and  shall  be  in  an  amount  of not  less  than  $4,000,000.00

aggregate.

     Lessee  covenants and agrees to indemnify and save  harmless

the  Lessor  against any and all claims, demands  or  obligations

which  may be made against Lessor arising out of or by reason  of

the  tenancy  created  hereby, except claims  based  on  Lessor's

negligence.

                                
                           ARTICLE VI

                          (MAINTENANCE)
                                
     Lessee,  at its expense, shall keep and maintain the  leased

premises  and the improvements thereon in good, sitely, and  safe

condition.   Lessee shall keep that part of the  leased  premises

used  for parking, vehicular traffic and walkways clean and  free

from snow, ice, rubbish and obstructions of any walkways.

     Lessee,   at    its  expense,  has  the  authority  to  make  
     
initial   repairs   and   improvements  to  the  leased  premises  

to    facilitate    its    use    as    an    employee    parking  

area    and     bus    staging     area,    which   repairs   and

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improvements  shall include grading and paving,  repairs  to  and

installation of fencing, repairs to and installation of lighting,

installation of security facilities, and repairs and improvements

to  leased  buildings.  Once the initial improvements  are  made,

Lessee may not make substantial alterations or improvement to the

Leased  Premises  without the prior written  consent  of  Lessor,

which consent shall not be unreasonably withheld.

                                
                           ARTICLE VII

                            (OPTIONS)
                                
     A.    Lessee  shall have the right to extend this Lease  for

two  (2)  additional  terms  of five (5)  years  each  under  the

following conditions, to-wit:

          a.   Notice of Lessee's intent to exercise each of  the
               options  provided herein shall be given in writing
               at  least  60  days  prior to  expiration  of  the
               current term;

          b.   The rental payments during any extension term (the
               5  year options to extend) shall be not less  than
               the  rental payments of the previous term  plus  a
               percentage   increase  equal  to  the   percentage
               increase  in  the  Consumer  Price  Index  at  the
               beginning of each term.

     B.   If  at  any time during the Term of this Lease, or  any
          Extensions  thereof, Lessor decides to sell the  Leased
          Premises, Lessee shall have the right of first  refusal
          to  purchase said Leased Premises.  In the event Lessor
          receives  a  bona  fide offer to  purchase  the  Leased
          Premises,  Lessee shall have fourteen  (14)  days  from
          notice  of said bona fide offer to enter into a written
          contract  with  Lessor to purchase the Leased  Premises
          under  identical terms of the bona fide offer.  Failure
          to timely act will void Lessee's right to purchase.

     C.   During  the  first two (2) years of the  initial  term,
          Lessee  shall  have  the  option  to  lease  additional
          premises  from  Lessor, within the area  identified  on
          Exhibit  B  attached  hereto, and add  such  additional
          premises  to this Lease.  Failure of Lessee to exercise
          this  option  to lease additional premises  within  ten
          (10)  days after notice from Lessor of Lessor's  intent
          to sell such additional premises to a third party shall
          void this option to lease additional premises.

     D.   The   terms,  conditions  and  covenants  set  out   in
          subparagraph  B  and C above shall  not  apply  to  any
          presently  existing options to buy or option  to  lease
          the  Leased Premises or any Additional Leased Premises,
          provided however that the exercise of existing  options
          and  sale  pursuant  thereto shall be  subject  to  the
          terms,  conditions and covenants of this Ground  Lease,
          including subparagraphs B and C above.

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                             ARTICLE VIII
                                
     The  parties  understand  and agree  that  the  relationship

between  them is that of a Lessor and Lessee and that this  Lease

is an absolute net Lease to Lessor.

     For  purposes  of  any  notice  that  may  be  required   or

appropriate under the terms of this Lease, such notices shall  be

directed as follows or as the parties may designate in writing:

     LESSOR:      3600 Michigan Company Ltd.
                  9350 Kile Road
                  Chardon, OH  44024
                  
     LESSEE:      Showboat Marina Casino Partnership
                  P.O. Box 777
                  East Chicago, IN  46312

                  
                           ARTICLE IX

                       (PAYMENT OF TAXES)
                                
     Lessee  shall  be responsible for and shall timely  pay  all

PERSONAL  property taxes, if any, assessed because of and  during

their use and occupancy of the Leased Premises.

     Said Lessor is being reimbursed by Lessee on a monthly basis

for  real estate taxes, Lessor shall be responsible for and shall

timely  pay  all  real estate taxes assessed against  the  Leased

Premises.

                                
                            ARTICLE X
                                
     (COMPLIANCE WITH INDIANA GAMING STATUTE AND THE COMMISSION'S

RULES.)  Lessor does now hereby agree to acquaint themselves with

and  fully  comply  with  the  requirements,  terms,  conditions,

prohibitions  and obligations of the Indiana Gaming  Statute  and

the  Rules of the Indiana Gaming Commission as they may apply  to

them.

     Lessor  is  fully aware and acknowledges that:  The  Indiana

Gaming Commission reserves the right to disapprove and cancel any

contract  or  transaction that does not comply with  the  Indiana

Gaming  Statute  or  the  Commission's rules  or  that  does  not

maintain the integrity of the industry.

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     Lessor will fully cooperate with and voluntarily comply with

all  requests and inquires from the Indiana Gaming Commission  or

its staff that relate, directly or indirectly, to this Agreement.

     This  Lease  may be disapproved or canceled by  the  Indiana

Gaming Commission.

                                
                           ARTICLE XI
                                
     Lessee  covenants and agrees that if anytime the  Lessor  is

required  to  enforce  this Lease whether or  not  litigation  is

actually  commenced  or to defend or be a  party  to  any  action

arising  out of the facts connected with or caused by  reason  of

this  Lease  or for the occupancy of the leased premises  by  the

Lessee,  the  Lessee  will pay the Lessor  all  court  costs  and

reasonable attorney fees and expenses expended by Lessor in  such

action or in enforcing the terms of this Lease.

LESSOR:               3600 MICHIGAN COMPANY, LTD.
                      9350 Kile Road
                      Chardon, OH  44024
                      
                      
                      By:   /s/ James F. Buckmaster
                            James F. Buckmaster, Manager
                            
                            
LESSEE:               SHOWBOAT MARINA CASINO PARTNERSHIP,
                      an Indiana Partnership
                      
                      
                      By:   /s/ J. Keith Wallace
                            J. Keith Wallace, authorized
                            signator


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                            EXHIBIT A

                      BUCKMASTER STEEL SITE
                                
                                
   (PLAT MAP OF SITE CANNOT BE REPRESENTED IN AN EDGAR FORMAT)
                                
                                
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                            EXHIBIT B

                           OPTION AREA
                                
                                
   (PLAT MAP OF SITE CANNOT BE REPRESENTED IN AN EDGAR FORMAT)
                                
                                
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November 29, 1996


Mr. James F. Buckmaster, Sr.
Buckmaster Steel Co.
23200 Chagrin Blvd. Suite 605
Beachwood, Ohio  44122

SUBJECT:   Ground  Lease with Showboat Mardi  Gras  Casino,  East
           Chicago, IN

Dear Jim,

This  letter  is to inform you that Showboat Mardi  Gras  Casino,
(SMGC),  has elected to extend it's ground lease area to  include
approximately  7.30 acres in lieu of the 6.0 acres referenced  in
the  original  ground lease, dated October  22,  1996.   The  new
monthly  rental  rate  shall  be $5,634.72  per  month,  (7.30  X
$771.88), and subject to the terms of the lease.

I've  attached two copies of the revised lease plan which reflect
the  total  area which SMGC plans occupy during the term  of  the
lease,  subject  to it's rights to expand the lease  area  up  to
approximately  12 acres, (as shown on Exhibit B  to  the  lease).
Please  initial one copy of the revised lease plan and return  to
me for my records.

Should  you  have  any questions or comments do not  hesitate  to
contact me.



Sincerely,

/s/ Thomas A. Gourguechon
Thomas A. Gourguechon
Project Manager


CC:  Keith Wallace, SMGC
     Joe O'Brien, SMGC
     Vince Evans, SMGC
     Richard Lesniak, Lesniak and Associates