Cook bacon until crisp in 12-inch skillet over medium-high heat, stirring occasionally. With slotted spoon, remove to paper towels; set aside. Cook green pepper, onion and garlic in drippings remaining in skillet over medium heat until tender-crisp, about 5 minutes. Remove to bowl.
Cook ground beef in same skillet over medium-high heat until well browned on all sides, stirring frequently. Drain. Add tomatoes with their liquid, rice, water, TABASCO® Sauce, salt and green pepper mixture. Bring to a boil over high heat; reduce heat to low. Cover and simmer 20 minutes or until rice is tender, stirring occasionally.
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