<TABLE> <S> <C>

<PAGE>
 
<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF HOLLYWOOD CASINO CORPORATION AND
SUBSIDIARIES AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK>          0000888245
<NAME>         HOLLYWOOD CASINO CORPORATION
<RESTATED>
<MULTIPLIER>   1,000
       
<S>                                 <C>                                         <C>                     
<PERIOD-TYPE>                       YEAR                                        YEAR                    
<FISCAL-YEAR-END>                                        DEC-31-1997                        DEC-31-1996     
<PERIOD-START>                                           JAN-01-1997                        JAN-01-1996     
<PERIOD-END>                                             DEC-31-1997                        DEC-31-1996     
<CASH>                                                         38,156                            21,488 
<SECURITIES>                                                        0                                 0 
<RECEIVABLES>                                                   3,935                             4,833 
<ALLOWANCES>                                                    1,188                             1,693 
<INVENTORY>                                                     1,454                             1,620 
<CURRENT-ASSETS>                                               60,694                            39,995 
<PP&E>                                                        237,261                           235,240 
<DEPRECIATION>                                                 66,099                            49,740 
<TOTAL-ASSETS>                                                277,602                           308,229 
<CURRENT-LIABILITIES>                                          31,394                            33,818 
<BONDS>                                                       219,261                           223,764 
<PREFERRED-MANDATORY>                                               0                                 0 
<PREFERRED>                                                         0                                 0 
<COMMON>                                                            2                                 2 
<OTHER-SE>                                                    (17,625)                           45,142 
<TOTAL-LIABILITY-AND-EQUITY>                                  277,602                           308,229 
<SALES>                                                             0                                 0 
<TOTAL-REVENUES>                                              267,757                           530,580 
<CGS>                                                               0                                 0 
<TOTAL-COSTS>                                                 185,055                           423,738 
<OTHER-EXPENSES>                                               45,558                            84,311 
<LOSS-PROVISION>                                               20,376                            21,772 
<INTEREST-EXPENSE>                                             28,409                            55,989 
<INCOME-PRETAX>                                               (11,641)                          (55,230)
<INCOME-TAX>                                                    3,289                                63 
<INCOME-CONTINUING>                                           (14,930)                          (55,293)
<DISCONTINUED>                                                      0                                 0 
<EXTRAORDINARY>                                                  (215)                                0 
<CHANGES>                                                           0                                 0 
<NET-INCOME>                                                  (15,145)                          (55,293)
<EPS-PRIMARY>                                                    (.61)                            (2.24)
<EPS-DILUTED>                                                    (.61)                            (2.24)
                                   

</TABLE>