UNITED STATES
                      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, 1997
                                             -------------
[ ]  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 333-14535

                       CASINO MAGIC OF LOUISIANA, CORP.
                           ------------------------
            (Exact name of registrant as specified in its charter)

                 Louisiana                        64-0878110
              -----------------                 ----------------
           (State or other jurisdiction of         (I.R.S. Employer
          incorporation or organization)        Identification No.)

              711 CASINO MAGIC DRIVE, BAY ST. LOUIS, MS   39520
              -------------------------------------------------
             (Address of principal executive offices) (Zip Code)

                                (601) 466-8099
                              ------------------
            (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 registrant (1) has filed all reports 
required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of
1934  during  the  preceding  12  months (or for such shorter period that the 
registrant  was  required  to file such reports), and (2) has been subject to 
such filing requirements for the past 90 days.

                               Yes   X      No
                              -----       -----
Indicate  the  number  of shares outstanding of the issuer's classes of common
stock, as of the latest practicable date.

       1,000 shares of common stock outstanding as of August 27, 1997
========================================================================

<PAGE>


                       CASINO MAGIC OF LOUISIANA CORP.

                                    INDEX


PART I     FINANCIAL INFORMATION     PAGE NO.
     Item 1.     Financial Statements
     Condensed Statements of Operations
     For the six and three months ended June 30, 1997     2
     Condensed Balance Sheets -
     June 30, 1997 and December 31, 1996     3
     Condensed Statements of Cash Flows -
 For the six months ended June 30, 1997 and 1996     4
     Notes to Condensed Financial Statements     5
     Item 2.     Management's Discussion and Analysis of Financial
     Condition and Results of Operations     6-9

PART II     OTHER INFORMATION
     Item 1.     Legal Proceedings     10
     Item 2.     Changes in Securities     10
     Item 3.     Default Upon Senior Securities     10
     Item 4.     Submission of Matters to a Vote of Security Holders     10
     Item 5.     Other Information     10
     Item 6.     Exhibits and Reports on Form 8-K     10

     SIGNATURES     11







                                      1

                                      
<PAGE>
                      PART I - FINANCIAL INFORMATION
                                      
                         CASINO MAGIC OF LOUISIANA
                                      
                      CONDENSED STATEMENTS OF OPERATIONS
                                 (Unaudited)
                                                 Six months       Three months
                                                   ended              ended
                                                 June  30,  1997      June 30,
1997
                                                            -------------    
------------
Revenues:
  Casino                                          $ 42,836,002    $ 20,679,586
  Other operating revenues                           1,889,710         839,642
                                                  ------------     -----------
                                                    44,725,712      21,519,228
                                                  ------------     -----------
Costs and expenses:
  Casino                                            22,659,092      12,055,428
  Other operating costs and expenses                 3,237,399       1,151,417
  Advertising and marketing                          9,733,971       2,639,717
  General and administrative                         3,942,032       1,851,787
  Property operation maintenance and energy cost     2,919,072       1,439,499
  Rents, property taxes and insurance                1,218,019         624,970
  Depreciation and amortization                      2,786,672       1,427,291
                                                  ------------     -----------
                                                    46,496,257      21,190,109
                                                  ------------     -----------
Income (loss) from operations                       (1,770,545)        329,119
Other (income) expense:
  Interest expense                                   7,977,915       4,136,530
  Capitalized interest                                (107,401)          -
  Other (income) expense                              (143,268)         31,731
                                                  ------------     -----------
                                                     7,727,246       4,168,261
                                                  ------------     -----------
(Loss)  before  income  taxes:                      (9,497,791)    (3,839,142)
                                                   ------------    -----------
Income tax benefit                                     (452,692)          -
                                                   ------------    -----------
Net  loss                                          $ (9,045,099)  $(3,839,142)
                                                   =============  ===========
Net  loss  per  common  share                      $  (9,045.10)  $(3,839,142)
                                                 ============     ==========
Weighted average Common Shares - 1,000


















               See notes to consolidated financial statements.
                                      2


<PAGE>

                       Casino Magic of Louisiana, Corp.

                           CONDENSED BALANCE SHEET

                                    ASSETS
                                 (Unaudited)
                                                     JUNE 30,        DECEMBER
31,
                                  ASSETS            1997             1996(*)
Current  assets:                                              -------------   
------------
  Cash and cash equivalents                       $  8,689,316    $  3,959,126
  Restricted cash                                        -          16,899,654
  Other current assets                               2,787,715         964,997
                                                  -------------    -----------
      Total current assets                          11,477,031      21,823,777
                                                  -------------    -----------
      Total property and equipment, net             77,195,769      73,821,826
                                                  ------------      ----------
Other long-term assets:
  Deferred gaming license cost, net                 38,849,671      38,337,333
  Property held for sale                            10,137,657      10,101,182
  Debt issuance costs, net                           4,983,978       5,096,981
  Other long-term assets                                62,275         148,846
                                                  ------------      ----------
      Total other long-term assets                  54,033,581      53,684,342
                                                  ------------      ----------
                                                   142,706,381     149,329,945
                                                  ============    ============
                 LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
  Notes and contracts payable                           48,770       4,486,710
  Current maturities of long-term debt               3,149,908       1,878,605
  Accounts payable                                   4,520,634       2,837,908
  Accrued expenses                                   2,554,537         535,661
  Accrued interest                                   5,721,279       5,581,119
  Accrued payroll and related benefits               2,447,140       1,720,191
  Accrued progressive gaming liabilities               494,093         113,432
  Other current liabilities                          1,130,994           -
                                                  ------------      ----------
      Total current liabilities                     20,067,355      17,153,626
                                                  ------------      ----------
Long-term debt, net of current maturities          119,357,999     119,850,193
                                                  ------------     -----------
      Total noncurrent liabilities                 119,357,999     119,850,193
                                                   -----------     -----------
Commitments and contingencies
Common stock, $0.01 par value, 10,000 shares authorized,
    1,000 shares issued and outstanding                      1               1
Additional paid-in capital                          22,353,295      22,353,295
Retained  deficit                                  (19,072,269)   (10,027,170)
                                                  ------------     -----------
      Total shareholder's equity                     3,281,027      12,326,126
                                                  ------------     -----------
                                                  $142,706,381    $149,329,945
                                                  ============    ============



               See notes to consolidated financial statements.
                 * Derived from audited financial statements






                                      3

<PAGE>
                        CASINO MAGIC CORP. OF LOUISIANA

                     CONDENSED STATEMENTS OF CASH  FLOWS
     (Unaudited)
                                                        Six months ended
                                                      June 30,       June 30
                                                         1997           1996
Cash flows from operating activities:
     Net (loss)                                  $(9,045,099)      $       -
     Adjustments for non-cash charges              2,756,407               -
     Changes  in  assets  and  liabilities         4,582,228         (107,150)
                                                 -----------        ----------
 .Net  cash  used  in  operating  activities       (1,706,464)        (107,150)
                                                  -----------        ----------
Cash flows from investing activities:
     Acquisitions  of  property  and  equipment   (5,944,738)      (15,695,516)
     Other,  net                                      86,571         (368,582)
                                                  -----------        ----------
      Net cash used in investing activities       (5,858,167)      (16,064,098
                                                  ----------        ----------
Cash flows from financing activities:
     Proceeds from issuance of notes payable and
        long-term debt                             3,850,000               -
     Principal payments on notes payable and
        long-term debt                            (8,454,833)              -
     Capital contributions received                    -            15,550,000
     Other, net                                        -               621,248
                                                  -----------       ----------
Net cash provided (used in) by
     financing  activities                        (4,604,833)      16,171,248
                                                  -----------      ----------
Net decrease in cash and cash equivalents        (12,169,464)              -
Cash and cash equivalents including restricted cash,
     beginning of period                          20,858,780               -
                                                  ----------        ----------
Cash and cash equivalents including restricted cash,
     end of period                              $  8,689,316        $      -
                                                  ===========       =========
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for:
     Interest (net of amount capitalized)     $ 7,515,161         $    -
     Income taxes (net of refunds)                       -
Supplemental schedule of non-cash investing and financing activities:
 Property and equipment and other asset
    acquisitions included in accounts and
    construction payable and accrued expenses    $ 1,840,529   $  977,564
 Property  and  equipment  financed  with
  long-term  debt                                      -       52,848,425


          See notes to condensed consolidated financial statements.
                                      4

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.

                       CASINO MAGIC OF LOUISIANA, CORP.

             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                 (Unaudited)

1.  Summary of significant accounting policies, risks and uncertainties:

Organization and basis of presentation:

On  May  13,  1996  ("Inception"),  Jefferson  Casino  Corporation ("Jefferson
Corp."), a Louisiana corporation and a wholly owned subsidiary of Casino Magic
Corp.  ("Casino  Magic"),  acquired  all  of  the outstanding capital stock of
Crescent  City  Capital  Development  Corporation,  a  Louisiana  corporation.
Immediately  following  the  acquisition,  the  name  of Crescent City Capital
Development  Corporation  ("Crescent  City")  was  changed  to Casino Magic of
Louisiana,  Corp.  ("Louisiana  Corp."  or  the  "Company").  The  financial
statements  only include the accounts of Louisiana Corp.  Louisiana Corp., has
developed a new dockside riverboat casino and entertainment complex in Bossier
City,  Louisiana  ("Casino  Magic-Bossier  City").   Casino Magic-Bossier City
opened on October 4, 1996, using a temporary facility and opened the permanent
facility  on  December 31, 1996.  Prior to October 4, 1996, the Company had no
revenues or expenses other than interest income and expense.

Certain  information  and  footnote disclosures normally included in financial
statements  prepared  in  accordance  with  generally  accepted  accounting
principles have been condensed or omitted.

The  accompanying  unaudited  condensed  financial  statements  contain  all
adjustments  which  are,  in  the  opinion of management, necessary for a fair
statement  of  the  results of the interim periods.  The results of operations
for  the  interim  periods  are not indicative of results of operations for an
entire year.

It  is  suggested  that  these  consolidated  financial  statements be read in
conjunction  with  the consolidated financial statements and the notes thereto
included  in  the  Company's  Form  S-4 filed with the Securities and Exchange
Commission on July 19, 1997.

Certain  reclassifications  have been made to 1996 amounts to conform with the
June 30, 1997 presentation.

2. Earning per share

In  February  1997,  the Financial Accounting Standards Board issued Statement
No.  128  (FAS 128), "Earnings Per Share", which simplifies the computation of
earnings  per share.  FAS 128 is effective for financial statements issued for
periods  ending after December 15, 1997 and requires restatement for all prior
period  earnings  per  share  data  presented.    Basic earnings per share and
diluted  earnings per share calculated in accordance with FAS 128 would remain
unchanged  both  at  the  three  months ended June 30, 1997 and the six months
ended June 30, 1997.

3. Disclosure of contingent interest paid and accrued and management fees

No contingent interest or management fees were paid in the first six months of
1997.    Additionally, contingent interest and management fees were accrued in
the  first  six  months  of  1997,  in  the  amount  of  $40,616  and $81,233,
respectively.    No  contingent  interest  and  management  fees are currently
payable  based  upon  certain  ratios which were not met during the six months
ended June 30, 1997.

                                      5

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.

                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The  discussions  regarding  proposed  Company  developments  and  operations
included  in  "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS  OF  OPERATIONS"  and  "NOTES  TO  CONDENSED  CONSOLIDATED  FINANCIAL
STATEMENTS"  contain forward looking statements that involve a number of risks
and  uncertainties.    These proposed developments and operations include: (i)
the  Company's  ability  to  fund  planned  developments  and  debt  service
obligations  over  the  next  twelve  months with currently available cash and
marketable  securities  and  with  cash  flow  from operations.  The Company's
ability  to  meet  its  debt  obligations  is  entirely  dependent upon Casino
Magic-Bossier  City's  future operating performance, which is itself dependent
on  a  number  of factors, many of which are outside of the Company's control,
including  prevailing  economic conditions and financial, business, regulatory
and other factors affecting the Company's operations and business.

Results of Operations:

For the three months ended June 30, 1997:

Casino  Magic-Bossier  City  commenced temporary operations on October 4, 1996
and  significant  construction activities continued until its grand opening on
February  26,  1997.   Gaming revenues at Casino Magic-Bossier City were $20.7
million  for  the second quarter of 1997.  This represents approximately a 17%
share  of  total  gaming  revenues  in the four casino Bossier City/Shreveport
Market.    Although  the  Company  continues  to  implement  and  improve cost
effective  marketing  and promotional programs to increase revenues, there can
be  no  assurance it will be successful in doing so.  In addition to marketing
and  promotional  efforts the Company has installed new signage in August 1997
next  to  the  Interstate 20 off-ramp that directly accesses the casino and to
the entrance of the casino.  The Company anticipates that the new signage will
increase the visibility of Casino Magic-Bossier City.

Total costs and expenses during the second quarter of 1997 were $21.2 million.
 Casino  Magic-Bossier City earned an operating profit of $0.3 million for the
second  quarter  of  1997.  The Company continues to operate at revenue levels
that  are  less  than  anticipated  and management continues to implement cost
control  measures to enable the Company to be cash flow positive.  The Company
instituted a number of cost saving measures and management changes in May 1997
designed  to  improve  profitability  and cash flow.  As part of the Company's
efforts  to  improve  operations  the  former  Chief Operating Officer and the
former  Vice  President  of  Marketing  of Casino Magic Corp. have assumed the
operational  and  marketing  responsibilities  at  Casino  Magic-Bossier City.
Although  the Company continues to implement cost reduction programs to reduce
operating costs, there can be no assurance it will be successful in doing so. 
However,  Casino  Magic-Bossier  City  has  achieved positive cash flow at the
operating income levels earned during the second quarter of 1997.

Other  (income) and expenses were $4.2 million for the three months ended June
30,  1997.    The  costs  include  $4.1  million  in interest expense relating
primarily  to  the First Mortgage Notes issued to develop Casino Magic-Bossier
City.    The  remaining  difference  is due to interest income and capitalized
interest for the period.



                                      6

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.

                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS-(Continued)

Results of operations (continued):

There  was  no income tax benefit for the second quarter of 1997.  The Company
is included in a consolidated group subject to a tax-sharing agreement between
itself,  all  affiliated  companies and its ultimate parent Casino Magic.  The
difference  between  the 0% rate and the statutory rate of 35% is due to a tax
valuation  allowance  against  the tax benefit recorded as a result of the tax
sharing agreement.

Casino  Magic-Bossier  City  incurred  a  net  loss of $3.8 million during the
second  quarter of 1997, or a loss of $3,839 per share.  This is the result of
lower than anticipated revenues.

For the six months ended June 30, 1997:

Gaming  revenues at Casino Magic-Bossier City were $44.7 million for the first
six months of 1997.  This represents approximately a 17% share of total gaming
revenues  in the four casino Bossier City/Shreveport Market.  During the first
six  months  of  1997,  the Company attempted to increase Casino Magic-Bossier
City's market share through significant marketing, advertising and promotional
efforts.    However,  this  attempt  to strengthen Casino Magic-Bossier City's
market  share  was  not  as  successful  as anticipated.  Although the Company
continues  to  implement  and improve cost effective marketing and promotional
programs  to  increase  revenues,  including  significant new outdoor signage,
there can be no assurance it will be successful in doing so.

Total  costs  and  expenses  during  the  first  six months of 1997 were $46.5
million.  Casino Magic-Bossier City incurred an operating loss of $1.8 million
for  the first six months of 1997.  The Company incurred $7.1 million in total
marketing and promotional expenses during the first quarter of 1997, including
approximately  $4.0  million  in  promotional  give-away  programs  which were
expected  to  generate  a  level  of incremental gaming revenues that were not
achieved.    Additionally,  in the first quarter of 1997, Casino Magic-Bossier
City  was  incurring operating expenses at a level consistent with operating a
property  at  significantly  higher revenue levels.  Beginning in May 1997 the
Company  has  implemented  changes  to  reduce  overall  operating  costs, and
specifically  marketing and promotional costs.  Although the Company continues
to  implement  cost reduction programs to reduce operating costs, there can be
no assurance it will be successful in doing so.  However, Casino Magic-Bossier
City  has  achieved  positive  cash flow at the operating income levels earned
during the second quarter of 1997.

Other  (income)  and  expenses were $7.7 million for the six months ended June
30,  1997.  Expenses  included  $8.0  million  in  interest  expense  relating
primarily  to  the  First  Mortgage Notes related to the development of Casino
Magic-Bossier  City.    The remaining difference is due to interest income and
capitalized interest for the period.

Income tax benefit for the first quarter of 1997 was $0.5 million reflecting a
5%  rate.    The  Company  is  included  in  a consolidated group subject to a
tax-sharing  agreement  between  itself,  all  affiliated  companies  and  its
ultimate  parent  Casino  Magic.    The difference between the 5% rate and the
statutory  rate  of  35%  is  due to a tax valuation allowance against the tax
benefit record as a result of the tax sharing agreement.

                                      7

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.

                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS-(Continued)

Results of operations (continued):

Casino Magic-Bossier City incurred a net loss of $9.0 million during the first
six  months  of  1997,  or  a loss of $9,045 per share.  This is the result of
lower  than  anticipated  revenues,  exceptionally  high  advertising  and
promotional  costs that should not recur in future periods and operating costs
incurred in anticipation of significantly higher revenues, specifically in the
first quarter of 1997.

Liquidity and Capital Resources:

At  June 30, 1997, the Company had unrestricted cash and marketable securities
of  $8.7  million  compared  to unrestricted cash and marketable securities of
$4.0  million  at  December  31, 1996.  In addition, at December 31, 1996, the
Company  had  $16.9 million in restricted cash relating to the Notes issued to
fund  the  construction of Casino Magic-Bossier City.  The Company has no such
restricted  cash at June 30, 1997 due to the completion of the construction of
the Casino Magic-Bossier City casino.  For the six months ended June 30, 1997,
the  Company  expended  $1.7  million of cash flow in operating activities and
refinanced  approximately  $3.9  million  of  long  term  equipment debt.  The
Company  spent  $5.9 million for acquisitions of property, equipment and other
long-term  assets.  The Company plans additional investments in 1997, but most
of  such additional expenditures will be subject to the ability of the Company
to  generate  positive  cash  flows  from  operations  or  the availability of
financing, of which there can be no assurance in either case.

The  Company  opened  Casino  Magic-Bossier  City  on October 4, 1996, using a
temporary  boarding  facility,  and on December 31, 1996, opened the permanent
facility.    The  Company's  plans for the development of Casino Magic-Bossier
City  are  divided  into  two phases.  The first phase (which was completed on
December  31,  1996)  includes  a  30,000 square foot floating dockside casino
space,  with  986 slots and 44 table games; a 37,000 square foot entertainment
and  food and beverage pavilion, with 1,550 covered parking spaces and surface
parking  spaces for 400 cars.  The second phase plans include the construction
of a 60,000 square foot entertainment facility and a 400-room convention hotel
and  related  amenities,  including  restaurants,  banquet space, a theater, a
swimming pool, a health club and a child-care facility.

The  development and construction of the second phase improvements are largely
dependent  upon  receipt  of  proceeds from a future sale of the Crescent City
Queen  (a  gaming  riverboat  owned  by  Casino Magic-Bossier City) and future
operating  cash flow of Casino Magic-Bossier City.  No assurances can be given
that  such  funds  will  become  available  or  that  such  hotel  and related
facilities will ever be developed.

As of May 1997, Casino Magic-Bossier City had complied with all aspects of the
Cash  Collateral  and  Disbursement  Agreement  (as  defined  in the indenture
concerning  the  $115,000,000 First Mortgage Notes used for the development of
Casino Magic-Bossier City) and all restricted cash has been released.

                                      8

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.

                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS-(Continued)

Liquidity and Capital Resources (Continued):

Jefferson  Corp  and  Louisiana  Corp.  have  certain restrictions relative to
additional  borrowings  and  cash  flow  under  the  terms  of  the  Indenture
associated with the Louisiana First Mortgage Notes.

The  Company will have a significant need for cash in 1997 and beyond in order
to continue the development of its gaming facility.  The Company believes that
cash  and  marketable  securities  at  June  30,  1997,  and  cash  flows from
operations  will  be  sufficient  to  service  its  operating and debt service
requirements,  but are not sufficient at current levels to engage in any hotel
development activities without additional debt or equity financing.










































                                      9

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

         None

Item 2.  Changes in Securities

The  Company commenced an offering to exchange its 13% Series B First Mortgage
Notes Due 2003 with Contingent Interest for all outstanding 13% Series A First
Mortgage  Notes  Due  2003  with  Contingent  Interest on July 22, 1997. As of
August  21,  1997,  $104.7  million  principal  amount  of  the Series A First
Mortgage Notes had been tendered and accepted for exchange and the company had
extended  the exchange offer through the close of business on August 28, 1997.
The Series B First Mortgage Notes are identical to the Series A First Mortgage
Notes  in  all respect except that the Series B First Mortgage Notes have been
registered under the Securities Act of 1933.


Item 3.  Defaults Upon Senior Securities.

         None

Item 4.  Submission of Matters to a Vote of Security-Holders

         None.

Item 5.  Other Information

         None.

Item 6.  Exhibits and Reports on Form 8-K.

(a)  Exhibits

         None

(b)  Reports on Form 8-K:

         None.




















                                      10

<PAGE>
 SIGNATURES

The  Issuer  has  duly  caused  this  report to be signed on its behalf by the
undersigned thereunto duly authorized.

CASINO MAGIC OF LOUISIANA, CORP.



Date:   August 27, 1997       /S/ James E. Ernst
                          -------------------------
        James E. Ernst, President
        and Chief Executive Officer


Date:    August 27, 1997      /S/ Jay S. Osman
                           --------------------------
         Jay S. Osman, Chief Financial Officer and Treasurer (principal
         financial and accounting officer)







































                                      11

<PAGE>