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, 1998
                                                -------------
    [ ]  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)

<TABLE>
<CAPTION>


<S>                               <C>
LOUISIANA. . . . . . . . . . . .            64-0878110
(State or other jurisdiction of.      (I.R.S. Employer
Incorporation or organization) .  Indentification No.)
</TABLE>



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

                                (228) 467-9257
             (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 14, 1998
=======================================================================

<PAGE>
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<CAPTION>


CASINO MAGIC OF LOUISIANA CORP.

INDEX

<S>                              <C>                                                          <C>
PART I                           FINANCIAL INFORMATION                                        PAGE NO.
Item 1. . . . . . . . . . . . .  Financial Statements
                                 Condensed Consolidated Statements of Operations -
                                 For the six months ended June 30, 1998 and 1997                     1

                                 Condensed Consolidated Statements of Operations -
                                 For the three months ended June 30, 1998 and 1997                   2

                                 Condensed Consolidated Balance Sheets -
                                 June 30, 1998 and December 31, 1997                                 3

                                 Condensed Consolidated Statements of Cash Flows -
                                 For the six months ended June 30, 1998 and 1997                     4

                                 Notes to Condensed Consolidated Financial Statements                5

Item 2. . . . . . . . . . . . .  Management's Discussion and Analysis of Financial Condition
                                 and Results of Operations                                           6

PART II . . . . . . . . . . . .  OTHER INFORMATION
Item 1.                          Legal Proceedings                                                   9
Item 2.                          Changes in Securities                                               9
Item 3.                          Default Upon Senior Securities                                      9
Item 4.                          Submission of Matters to a Vote of Security Holders                 9
Item 5.                          Other Information                                                   9
Item 6.                          Exhibits and Reports on Form 8-K                                    9
                                 SIGNATURES                                                         10
</TABLE>




<PAGE>
<TABLE>
<CAPTION>



                           PART I - FINANCIAL INFORMATION 
ITEM  1:  FINANCIAL  STATEMENTS
                          CASINO MAGIC OF LOUISIANA, CORP.
                         CONDENSED STATEMENTS OF OPERATIONS


                                                              Six months ended
                                                                  June 30,
<S>                                                 <C>                 <C>
                                                                 1998          1997 
                                                    ------------------  ------------
                                                                 (Unaudited)
Revenues:
  Casino . . . . . . . . . . . . . . . . . . . . .  $      53,131,328   $42,836,002 
  Other operating income . . . . . . . . . . . . .          1,640,902     1,889,710 
                                                    ------------------  ------------
   Total revenues. . . . . . . . . . . . . . . . .         54,772,230    44,725,712 
                                                    ------------------  ------------

Costs and expenses:
  Casino . . . . . . . . . . . . . . . . . . . . .         25,890,240    22,659,092 
  Other operating costs and expenses . . . . . . .          1,938,575     3,237,399 
  Advertising and marketing. . . . . . . . . . . .          6,673,197     9,733,971 
  General and administrative . . . . . . . . . . .          3,641,445     3,942,032 
  Property operation, maintenance and energy cost.          2,181,260     2,919,072 
  Rents, property taxes and insurance. . . . . . .          1,462,373     1,218,019 
  Depreciation and amortization. . . . . . . . . .          3,178,321     2,786,672 
                                                    ------------------  ------------
    Total costs and expenses . . . . . . . . . . .         44,965,411    46,496,257 
                                                    ------------------  ------------
Income (loss) from operations. . . . . . . . . . .          9,806,819    (1,770,545)
                                                    ------------------  ------------

Other (Income) Expenses:
  Interest expense, net. . . . . . . . . . . . . .          8,478,151     7,870,514 
  Other. . . . . . . . . . . . . . . . . . . . . .          1,927,583      (143,268)
                                                    ------------------  ------------
    Total other expense. . . . . . . . . . . . . .         10,405,734     7,727,246 
                                                    ------------------  ------------
Income (loss) before income taxes. . . . . . . . .           (598,915)   (9,497,791)
Income tax expense (benefit) . . . . . . . . . . .                 --      (452,692)
Net income (loss). . . . . . . . . . . . . . . . .  $        (598,915)  $(9,045,099)
                                                    ==================  ============

Net income (loss) per common share:. . . . . . . .  $         (598.92)  $ (9,045.10)
                                                    ==================  ============
Weighted average common shares - 1,000
<FN>

                    See notes to condensed financial statements.
</TABLE>














                                       1

<PAGE>
<TABLE>
<CAPTION>


                           CASINO MAGIC OF LOUISIANA, CORP.
                          CONDENSED STATEMENTS OF OPERATIONS


                                                              Three months ended
                                                                    June 30,
<S>                                                 <C>                   <C>
                                                                   1998          1997 
                                                    --------------------  ------------
                                                                   (Unaudited)
Revenues:
  Casino . . . . . . . . . . . . . . . . . . . . .  $        26,075,567   $20,679,586 
  Other operating income . . . . . . . . . . . . .              768,680       839,642 
                                                    --------------------  ------------
    Total revenues . . . . . . . . . . . . . . . .           26,844,247    21,519,228 
                                                    --------------------  ------------

Costs and expenses:
  Casino . . . . . . . . . . . . . . . . . . . . .           12,609,295    12,055,428 
  Other operating costs and expenses . . . . . . .              913,840     1,151,417 
  Advertising and marketing. . . . . . . . . . . .            3,341,184     2,639,717 
  General and administrative . . . . . . . . . . .            1,880,522     1,851,787 
  Property operation, maintenance and energy cost.            1,080,279     1,439,499 
  Rents, property taxes and insurance. . . . . . .              824,750       624,970 
  Depreciation and amortization. . . . . . . . . .            1,581,119     1,427,291 
                                                    --------------------  ------------
    Total costs and expenses . . . . . . . . . . .           22,230,989    21,190,109 
                                                    --------------------  ------------
Income from operations . . . . . . . . . . . . . .            4,613,258       329,119 
                                                    --------------------  ------------

Other (Income) Expenses:
  Interest expense, net. . . . . . . . . . . . . .            4,227,004     4,136,530 
  Other. . . . . . . . . . . . . . . . . . . . . .            1,071,654        31,731 
                                                    --------------------  ------------
    Total other expense. . . . . . . . . . . . . .            5,298,658     4,168,261 
                                                    --------------------  ------------
Income (loss) before income taxes. . . . . . . . .             (685,400)   (3,839,142)
Income tax expense . . . . . . . . . . . . . . . .                   --            -- 
Net income (loss). . . . . . . . . . . . . . . . .  $          (685,400)  $(3,839,142)
                                                    ====================  ============

Net income (loss) per common share:. . . . . . . .  $           (685.40)  $ (3,839.14)
                                                    ====================  ============
Weighted average commons shares - 1,000
<FN>

                     See notes to condensed financial statements.
</TABLE>
















                                       2

<PAGE>
<TABLE>
<CAPTION>

                            CASINO MAGIC OF LOUISIANA, CORP.
                                CONDENSED BALANCE SHEETS

                                         ASSETS


                                                            June 30,      December 31,
<S>                                                       <C>            <C>
                                                                  1998          1997(*)
                                                          -------------  --------------
                                                                   (Unaudited)
Current Assets:
  Cash and cash equivalents. . . . . . . . . . . . . . .  $  5,333,043   $  10,675,429 
  Restricted marketable securities . . . . . . . . . . .    11,699,487      10,629,405 
  Other current assets . . . . . . . . . . . . . . . . .     1,248,383       1,218,886 
                                                          -------------  --------------
    Total current assets . . . . . . . . . . . . . . . .    18,280,913      22,523,720 
Property and equipment, net. . . . . . . . . . . . . . .    80,252,473      77,263,462 
Other long-term assets . . . . . . . . . . . . . . . . .    41,666,687      42,850,367 
                                                          -------------  --------------
                                                          $140,200,073   $ 142,637,549 
                                                          =============  ==============

LIABILITIES AND SHAREHOLDER'S EQUITY

Current liabilities                                       $ 22,766,411   $  23,440,740 
Other long-term liabilities                                         --              -- 
Long-term debt, net of current maturities                  116,440,353     117,604,583 

Shareholder's Equity
Common stock, $0.01 par value, 10,000 shares authorized,
  1,000 shares issued and outstanding at June 30, 1998
  and December 31, 1997                                              1               1 
Additional paid-in capital                                  22,278,400      22,278,400 
Retained deficit . . . . . . . . . . . . . . . . . . . .   (21,285,092)    (20,686,175)
                                                          -------------  --------------
  Total shareholder's equity                                   993,309       1,592,226 
                                                          -------------  --------------
                                                          $140,200,073   $ 142,637,549 
                                                          =============  ==============
<FN>

                      * Derived from audited financial statements
                      See notes to condensed financial statements.
</TABLE>
















                                       3

<PAGE>
<TABLE>
<CAPTION>

                                     CASINO MAGIC OF LOUISIANA, CORP.
                                    CONDENSED STATEMENTS OF CASH FLOWS


                                                                                  Six months ended
                                                                                      June 30,
<S>                                                                     <C>                 <C>
                                                                                     1998           1997 
                                                                        ------------------  -------------
                                                                                     (Unaudited)
Cash Flows from Operating Activities:
  Net income (loss). . . . . . . . . . . . . . . . . . . . . . . . . .  $        (598,915)  $ (9,045,099)
  Adjustments for non-cash charges                                              3,568,331      2,756,407 
  Changes in assets and liabilities                                            (1,518,882)     4,582,228 
                                                                        ------------------  -------------
Net Cash Provided by (Used in) Operating Activities                             1,450,534     (1,706,464)
                                                                        ------------------  -------------

Cash Flows From Investing Activities:
  Acquisitions of property and equipment . . . . . . . . . . . . . . .         (4,148,707)    (5,944,738)
  Other, net                                                                   (1,077,660)        86,571 
                                                                        ------------------  -------------
Net Cash Used in Investing Activities. . . . . . . . . . . . . . . . .         (5,226,367)    (5,858,167)
                                                                        ------------------  -------------

Cash Flows From Financing Activities:
  Principal payments on notes payable and long-term debt . . . . . . .         (1,566,553)    (8,454,833)
  Net proceeds from issuance of long-term debt                                         --      3,850,000 
                                                                        ------------------  -------------
Net Cash Used in Financing Activities. . . . . . . . . . . . . . . . .         (1,566,553)    (4,604,833)
                                                                        ------------------  -------------

Net Decrease in Cash and Cash Equivalents. . . . . . . . . . . . . . .         (5,342,386)   (12,169,464)

Cash and Cash Equivalents, Beginning of Period                                 10,675,429     20,858,780 
                                                                        ------------------  -------------

Cash and Cash Equivalents, End of Period                                $       5,333,043   $  8,689,316 
                                                                        ==================  =============

Supplemental Cash Flow Information
Cash Paid During the Period for:
  Interest (net of amount capitalized)                                  $       8,326,786   $  7,515,161 
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                      1,204,451      1,840,529 
  Property and equipment financed with long-term debt                             298,895             -- 
<FN>

                               See notes to condensed financial statements.
</TABLE>




















                                       4

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.
                    NOTES TO CONDENSED FINANCIAL STATEMENTS
(Information with respect to the Three and Six Months Ended  June 30, 1998 and
                              1997 is 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
reflect  only  the  accounts of Louisiana Corp., since the Company conducts no
other operations or business activities.  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.
     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 financial statements be read in conjunction
with  the  consolidated financial statements and the notes thereto included in
the Company's Form 10-K for the year ended December 31, 1997 and Form 10-Q for
March  31,  1998.
     Certain  reclassifications have been made to 1997 amounts to conform with
the  June  30,  1998  presentation.
2.      Disclosure of contingent interest paid and accrued and management fees
accrual:
     No  contingent  interest  or  management  fees were paid in the first six
months  of 1998 or 1997.  Contingent interest and management fees were accrued
in  the  first  six  months  of 1998 in the amount of $668,387 and $1,336,774,
respectively.    Contingent  interest  and management fees were accrued in the
first  six  months of 1997 in the amount of approximately $43,387 and $81,233,
respectively.    No contingent interest or management fees were payable during
the  six  months  ended  June  30, 1998 or 1997 because the Company's Adjusted
Fixed  Charge  Coverage  Ratio  (as  defined)  did  not  exceed  1.5  to  1.0.
3.          New  Accounting  Pronouncements
(a)          Accounting  for  Start-Up  Costs:
     During  April  1998,  the Accounting Standards Executive Committee of the
AICPA  issued  Statement  of Position 98-5 ("SOP"), "Reporting on the Costs of
Start-Up  Activities."    The  SOP  requires  costs of start-up activities and
organization  costs  to  be  expensed  as  incurred.  The SOP is effective for
financial  statements for fiscal years beginning after December 15, 1998.  The
company  has  not adopted the SOP.  However, due to the anticipated opening of
the hotel at Casino Magic - Bossier City in Decemeber 1998, all start-up costs
associated  with  the hotel will be expensed in the quarter ended December 31,
1998,  in  accordance  with  Company  policy.
 (b)          Accounting  for  Derivative  Instruments and Hedging Activities:
     In  June  1998, the Financial Accounting Standards Board issued Statement
of  Financial  Accounting  Standards  No.  133,  Accounting  for  Derivative
Instruments  and Hedging Activities.  The Statement establishes accounting and
reporting  standards  requiring  that  every  derivative instrument (including
certain derivative instruments embedded in other contracts) be recorded in the
balance sheet as either an asset or liability measured at its fair value.  The
Statement  requires  that changes in the derivative's fair value be recognized
currently  in  earnings  unless  specific  hedge  accounting criteria are met.
Special  accounting  for  qualifying  hedges  allows  a derivative's gains and
losses  to  offset related results on the hedged item in the income statement,
and  requires that a company must formally document, designate, and assess the
effectiveness  of  transactions  that  receive  hedge  accounting.
     Statement  133  is  effective  for  fiscal years beginning after June 15,
1999.    A company may also implement the Statement as of the beginning of any
fiscal  quarter  after  issuance  (that is, fiscal quarters beginning June 16,
1998  and  thereafter).    Statement  133  cannot  be  applied  retroactively.
Statement  133  must  be applied to (a) derivative instruments and (b) certain
derivative  instruments  embedded  in  hybrid  contracts  that  were  issued,
acquired,  or  substantively  modified  after  December  31, 1997 (and, at the
company's  election,  before  January  1,  1998).
     We  believe  the  impact  of  adopting  Statement  133  on  the financial
statements  will  be  immaterial.
                                       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 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;    (ii)  construction  projects  entail  significant
construction  risks,  including,  but  not limited to, cost overruns, delay in
receipt  of  governmental  approvals, shortages in materials or skilled labor,
labor  disputes,  unforeseen  environmental  or  engineering  problems,  work
stoppage,  fire  and other natural disasters, construction scheduling problems
and  weather  interferences,  any  of  which,  if  it  occurred,  could  delay
construction or result in a substantial increase in costs to the Company.  The
Company's  ability  to  meet  its  debt  obligations may be dependent upon the
successful  completion  of a hotel at Casino Magic-Bossier City, other planned
construction  projects,  and the Company's future operating performance, which
is  itself  dependent on a number of factors, many of which are outside of the
Company's  control.  Those factors include prevailing economic and competitive
conditions,  regulatory  compliance, and other factors affecting the Company's
operations and business.  In addition to the risks and uncertainties discussed
above,  other factors that could cause actual results to differ materially are
detailed  from time to time in the Company's reports filed with the Securities
and  Exchange  Commission.
Results  of  Operations:
For  the  three  months ended June 30, 1998 compared to the three months ended
June  30,  1997:
     Gaming  revenues  at Casino Magic-Bossier City increased to $26.1 million
in  the second quarter of 1998 compared to $20.7 million in the second quarter
of  1997,  an  increase of $5.4 million or 26.1%. The increase was a result of
Casino  Magic's  greater  maturity  in the Shreveport-Bossier City market, the
upgrading  of  product  mix  in  slot  machines,  and more effective marketing
programs.
     Total  costs  and  expenses  during the second quarter of 1998 were $22.2
million  compared  to $21.2 million in the second quarter of 1997, an increase
of $1.0 million or 4.7%.  Casino expenses, which were volume driven, increased
$0.6  million  in  the  1998  period  over  the comparable prior quarter while
advertising  and marketing expenses increased $0.7 million over the comparable
prior quarter.  A change to a targeted marketing strategy in the third quarter
of  1997,  and  used in the second quarter of 1998, has been effective.  Other
administrative  and  operating  expenses  decreased  $0.2  million  over  the
comparative  quarters  as  a  result of a stringent cost cutting and budgetary
programs  initiated  in  the  second  quarter  of  1997.
     Casino  Magic-Bossier City earned an operating profit of $4.6 million for
the  second quarter of 1998 compared to an operating profit of $0.3 million in
the  second  quarter  of  1997,  an  improvement  of  $4.3  million.
     Other  (income)  and  expenses increased $1.1 million over the comparable
prior  quarter.   The increase is principally a result of increased management
fees and contingent interest which are a function of operating profit although
some  amounts  were  accrued  rather  than  paid  as a result of the Company's
Adjusted  Fixed Charge Coverage Ratio.  See "Liquidity and Capital Resources."
Also  included  in  Other  (income)  and expenses was $0.1 million capitalized
interest  expense in the second quarter of 1998 related to the construction of
the  hotel.    No interest had been capitalized in the second quarter of 1997.
     There  was  no income tax benefit for the second quarter of 1998 or 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 Corp.  The difference between the 0% rate and the statutory rate
of  35% is due to the 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 $0.7 million in the
second  quarter  of  1998  compared with a net loss of $3.8 million during the
second  quarter  of  1997,  or  a  loss  per  share  of $685.40 and $3,839.14,
respectively.



                                       6

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.
   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
                            OPERATIONS-(CONTINUED)
Results  of  Operations  (continued):
For  the six months ended June 30, 1998 compared to the six  months ended June
30,  1997:
     Gaming  revenues  at Casino Magic-Bossier City increased to $53.1 million
for  the  first  six months of 1998 compared to $42.8 million in the first six
months  of  1997,  an  increase of $10.3 million or 24.1%.  The increase was a
result  of  Casino  Magic-Bossier  City's  greater  maturity  in  the
Shreveport/Bossier  City  market,  the  upgrading  of  slot  machines and more
effective  marketing  programs.
     Total  costs  and expenses during the first six months of 1998 were $45.0
million  compared  to $46.5 in the first six months of 1997, a cost savings of
$1.5 million or 3.2%.  The principal area of savings in the 1998 period was in
advertising and marketing expenses which were reduced by $3.1 million or 31.4%
from  the comparable prior period.  Marketing strategy in the first six months
of  1997  involved substantial promotions intended to gain rapid market share,
which  was  less  effective  than  anticipated.   The first six months of 1998
benefited  from  a more conservative and effective market strategy implemented
in  the  third  quarter  of  1997.  Casino expenses, which were largely volume
driven, increased $3.2 million or 14.3% in the first six months of 1998 versus
the  first  six  months  of 1997.  Other administrative and operating expenses
decreased  $1.7  million in the 1998 period or 12.1% from the comparable prior
period  as  a  result  of  a  stringent  cost  cutting  and budgetary programs
initiated  in  the  second  quarter  of  1997.
     Casino  Magic-Bossier City earned an operating profit of $9.8 million for
the  first  six months of 1998 versus an operating loss of $1.8 million in the
first  six  months  of  1997,  an  improvement  of  $11.6  million.
     Other  (income)  and expenses were $10.4 million for the first six months
of  1998  and  $7.7 million for the first six months of 1997.  The increase in
net  expenses  is principally due to an increase of $1.3 million in management
fees  during  the  first six months of 1998 compared to a very minimal expense
for  the  first  six months of 1997, although some amounts were accrued rather
than  paid  as a result of the Company's Adjusted Fixed Charge Coverage Ratio.
See  "Liquidity and Capital Resources.".  Also contributing to the increase in
net  expense  is $0.2 million in shared expenses related to the pending merger
between  Casino  Magic and Hollywood Park, Inc.  There were no expenses in the
first  six  months  of  1997  relating  to  merger  costs.
     There  was  no  income  tax benefit for the first six months of 1998, but
there  was  an income tax benefit of $0.5 million reflecting a 5% tax rate for
the first six months 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 Corp.  The difference between the 0%
rate  in  1998 and the 5% rate in 1997 and the statutory rate of 35% is due to
the  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 $0.6 million in the
first  six  months of 1998 compared with a net loss of $9.0 million during the
first  six months of 1997, or a loss per share of $598.91 and a loss per share
of  $9,045.09,  respectively.
Liquidity  and  Capital  Resources:
     At  June  30,  1998,  the  Company  had unrestricted cash of $5.3 million
compared  to  unrestricted  cash  of  $10.7 million at December 31, 1997.  The
Company  had  $11.7  million  and  $10.6  million  in  restricted  marketable
securities  at  June  30,  1998  and  December  31,  1997,  respectively.
     For  the  six  months  ended  June  30,  1998, the Company generated $1.4
million  of  cash  flow in operating activities and made principal payments on
long  term  debt  of  $1.6  million.    The  Company  spent  $4.1  million for
acquisitions  of  property,  equipment  and  other  long-term  assets. Of this
amount,  $3.3  million  was  paid  with  respect to the hotel, restaurants and
related  amenities  currently  under  construction.
     No  contingent  interest  or  management  fees were paid in the first six
months  of 1998 or 1997.  Contingent interest and management fees were accrued
in  the  first  six  months  of 1998 in the amount of $668,387 and $1,336,774,
respectively.    Contingent  interest  and management fees were accrued in the
first  six  months of 1997 in the amount of approximately $43,387 and $81,233,
respectively.    No contingent interest or management fees were payable during
the  six  months  ended  June  30, 1998 or 1997 because the Company's Adjusted
Fixed  Charge  Coverage  Ratio  (as  defined)  did  not  exceed  1.5  to  1.0.


                                       7

<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.
   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
                            OPERATIONS-(CONTINUED)

Liquidity  and  Capital  Resources  (continued):
     The  Company  commenced  expansion  of  the  land  based  pavilion  and
construction of a 188-room hotel and related amenities, including restaurants,
banquet  space and swimming pool in March 1998.  The construction of the hotel
is  expected to be funded primarily by the remaining proceeds from the sale of
the  Crescent City Queen, current cash on hand, the future operating cash flow
of  Casino  Magic-Bossier  City,  and  financing  for  furniture, fixtures and
equipment  for  which  the  Company  has  received a financing commitment.  No
assurances  can  be given that such sources will be sufficient to complete the
hotel  and  related  facilities. If the anticipated sources of funding are not
sufficient to complete the facilities, the timeline for completion may have to
be  extended,  other  sources  of  funding  would  need  to be found, or other
strategies  and  contingency  plans  would need to be employed by the Company.
     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 1998 and beyond in
order to continue its planned development.  The Company believes that cash and
restricted  marketable  securities  at  June  30,  1998,  and  cash flows from
operations  will be sufficient to service its operating needs and debt service
through,  at  least,  the  next twelve months, including the completion of the
Casino  Magic-Bossier City hotel, with additional financing for the furniture,
fixtures  and  equipment  of the hotel.  There are no assurances that adequate
funding  will  be  available  for  all  of these planned investments at Casino
Magic-Bossier  City.























                                       8

<PAGE>
                          PART II - OTHER INFORMATION
ITEM  1.            LEGAL  PROCEEDINGS
     None
ITEM  2.          CHANGES  IN  SECURITIES
None
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
     27.          Financial  Data  Schedule  (filed  electronically  only)
     (b)          Reports  on  Form  8-K:
     None.
























                                       9

<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  14,  1998          /s/  James  E.  Ernst
                                    ---------------------
     James  E.  Ernst,  President  and  Chief  Executive  Officer



Date:    August  14,  1998          /s/  Jay  S.  Osman
                                    -------------------
     Jay  S.  Osman,  Chief  Financial  Officer  and  Treasurer
               (principal  financial  and  accounting  officer)










































                                      10


<PAGE>
                       CASINO MAGIC OF LOUISIANA, CORP.

Quarterly  Report  on  Form  10-Q  for  the  Period  Ended  June  30,  1998
INDEX  TO  EXHIBITS
-------------------
Exhibit
Number          Page
------          ----
27.          Financial  Data  Schedule  (filed  electronically  only).


















































                                      11