AMERICAN MIDLAND <AMCO> SETS OPERATOR FOR CASINO
American Midland Corp
said <Braodway Casinos Inc> has entered into a letter of intent
for a new company to be formed by <Carnival Cruise Lines Inc>
and <Continental Hotel Cos> to operate Broadway's planned
hotel/casino in the Marina area of Atlantic City, N.J.
    American Midland has agreed to spin off its 8.2 acre
Atlantic City property to Broadway, a new company in which
American Midland shareholders would initially own an 85 pct
interest.
 Reuter
