SHOWBOAT <SBO> TO TAKE CHARGE, SEES 3RD QTR LOSS
  Showboat Inc will take a
  charge of 19 to 20 mln dlrs pretax against results for the
  third quarter ended March 31, director and assistant to the
  president J. Kell Houssels III told Reuters.
      He said the charge results from pre-operating expenses of
  its recently-opened Atlantic City, N.J., Showboat Hotel, Casino
  and Bowling Center and will cause a loss for the third quarter
  and probably for all of fiscal 1987 as well.
      But Houssels said Showboat's earnings for fiscal 1988
  should show a sharp increase from fiscal 1986 levels due to the
  contribution of the new Atlantic City facility.
      Showboat earned 1,753,000 dlrs in last year's third
  quarter.  For all of fiscal 1986 it earned 5,769,000 dlrs.
      Houssels said Showboat since the opening of the Atlantic
  City hotel/casino, Showboat has had to start charging interest
  expenses connected with debt it sold to finance the facility
  directly against income rather than capitalizing the interest
  as it had been able to do previously.
      Showboat opened the hotel during its third quarter and
  gaming began last Thursday on a regular basis after test gaming
  was completed earlier in the week.