Carnival Enters River Cruise Segment

Carnival Corporation has entered the domestic riverboat gaming market through its participation as part-owner of Louisiana Casino Cruises.

Louisiana Casino Cruises has signed a $17.5 million contract with Bender Shipyard to build a 258 foot x 90 foot x 14 foot riverboat which will be operated by Carnival Management Services in Baton Rouge, Louisiana.

The 50,000 square foot casino vessel, which will accommodate 2,000 passengers, will have 30,000 square feet of gaming space with 1,500 gaming positions.

Replicating a 19th century sternwheeler, delivery of the casino vessel is scheduled for June of 1994.

While Carnival will have no equity in Louisiana Casino Cruises, it is expected that the company will be paid a management fee and a percentage of revenues. Various estimates peg a $2 million annual contribution to Carnival's bottom line starting in 1995.

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