LAS VEGAS - Rio Hotel and Casino Inc. said its lenders have agreed to refinance and expand its $53 million revolving credit line into a new $65 million construction loan and revolving credit facility.

The bank group is led by units of BankAmerica Corp. and First Interstate Bancorp.

The term will be extended to March 1999 and is subject to the completion of definitive documents, which is anticipated to occur by July 1. The $25 million expansion will be funded through a combination of the new loan, cash on hand, and cash from continuing operations.

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