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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
UNDER THE SECURITIES ACT OF 1934
(Amendment No. ___)
WHG Resorts and Casinos, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
92924B 10 5
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(CUSIP Number)
David S. Richter
Clincher Capital Corporation
333 West Wacker Drive
Chicago, Illinois 60606
(312) 739-2138
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 3, 1997
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1 (b) (3) or (4), check the following box / /
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CUSIP NO.: 92924B 10 5 13D
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S IDENTIFICATION NOS. OF ABOVE PERSONS
Waveland Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) ( )
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3 SEC USE ONLY
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4 SOURCE OF FUNDS WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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7 SOLE VOTING POWER
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NUMBER OF 8 SHARED VOTING POWER
SHARES 350,100
BENEFICIALLY--------------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING -------------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
350,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
350,100 shares of Common Stock
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
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14 TYPE OF REPORTING PERSON
PN
Page 2 of 8 Pages
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CUSIP NO.: 92924B 10 5 13D
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S IDENTIFICATION NOS. OF ABOVE PERSONS
Waveland Capital Management, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) ( )
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3 SEC USE ONLY
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4 SOURCE OF FUNDS WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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7 SOLE VOTING POWER
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NUMBER OF 8 SHARED VOTING POWER
SHARES 350,100
BENEFICIALLY--------------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING --------------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
350,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
350,100 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
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14 TYPE OF REPORTING PERSON
PN
Page 3 of 8 Pages
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CUSIP NO.: 92924B 10 5 13D
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S IDENTIFICATION NOS. OF ABOVE PERSONS
Clincher Capital Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (_)
(b) (_)
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) (_)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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7 SOLE VOTING POWER
--------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 350,100
BENEFICIALLY--------------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH
REPORTING --------------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
350,100
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
350,100 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (_)
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
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14 TYPE OF REPORTING PERSON
CO
Page 4 of 8 Pages
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ITEM 1. SECURITY AND ISSUER.
The class of equity securities to which this statement relates is the
common stock, $.01 par value per share (the "Common Shares") of WHG Resorts and
Casinos, Inc., a Delaware corporation (the "Issuer") with its principal
executive office located at 6063 East Isla Verde Avenue, Caroline, Puerto Rico
00979.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed by Waveland Partners, L.P., an Illinois
limited partnership ("Waveland"), Waveland Capital Management, L.P., an
Illinois limited partnership ("Waveland Capital") and Clincher Capital
Corporation, an Illinois corporation ("Clincher" and together with Waveland
and Waveland Capital, the "reporting persons").
Waveland, Waveland Capital and Clincher have their principal offices at 333
West Wacker Drive, Suite 1600, Chicago, Illinois 60606. Clincher's principal
business is as the general partner of Waveland Capital. Waveland Capital's
principal business is as the general partner of Waveland. Waveland is a private
investment partnership whose primary activities include investments in
marketable securities and private investments.
(a) -- (c) The names, principal occupation or employment and the name,
and, except where such information is provided elsewhere herein, the principal
business and address of any organization in which such employment is conducted
of each officer and director of Clincher is set forth below. Unless otherwise
indicated below, each of the following persons is a United States citizen and
the business address of each of the following persons is c/o Clincher Capital
Corporation, 333 West Wacker Drive, Suite 1600, Chicago, Illinois 60606.
NAME PRINCIPAL OCCUPATION OR EMPLOYMENT
David S. Richter Director, President, Secretary and Treasurer,
Clincher Capital Corporation.
Stephen J. Malkin Director and Chairman of the Board, Clincher
Capital Corporation.
Michael J. Sacks Director and Chief Executive Officer, Clincher
Capital Corporation.
Paul A. Meister Vice President and Assistant Secretary, Clincher
Capital Corporation.
Page 5 of 8 Pages
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(d) During the last five years, none of the persons identified in this
Item 2 has been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors).
(e) During the last five years, none of the persons identified in this
Item 2 has been a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and as a result of such proceeding was or is
subject to a judgment, decree or final order enjoining future violations or, or
prohibiting or mandating activities subject to Federal or State securities laws
or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The working capital of Waveland is the source of funds used in making
purchases of Common Shares.
ITEM 4. PURPOSE OF TRANSACTION.
The acquisition of Common Shares reported herein is for investment
purposes. The reporting persons may, at any time and from time to time,
purchase additional Common Shares and may dispose of any and all Common Shares
held by them. The reporting persons may, at any time and from time to time,
engage in business dealings with the Issuer, including but not limited to joint
investments and/or financing arrangements. Notwithstanding the foregoing, the
reporting persons have no current plan or proposal which relates to, or would
result in , any of the actions enumerated in subparagraphs (a) through (j) of
Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Waveland has acquired 350,100 Common Shares representing approximately
5.8% of the Common Shares outstanding as of May 15, 1997.
(b) Each of the reporting persons may be deemed to share beneficial
ownership of the Common Shares acquired by Waveland.
(c) In the past 60 days, Waveland effected the following open market
purchases of Common Shares:
Number of
Common
Date Shares Acquired Price Per Share
- ---- --------------- ---------------
7-15-97 20,000 $12.2500
7-23-97 20,000 $12.7628
7-30-97 13,900 $12.5153
Page 6 of 8 Pages
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7-31-97 1,100 $12.5000
9-03-97 30,000 $14.0623
9-04-97 12,900 $14.0727
9-08-97 8,100 $14.5000
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT
NUMBER DESCRIPTION
99.1 Joint Filing Agreement
Page 7 of 8 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: September 12, 1997
WAVELAND PARTNERS, L.P.
By: Waveland Capital Management, L.P.
Its: General Partner
By: Clincher Capital Corporation
Its: General Partner
By: /s/ David S. Richter
----------------------------
David S. Richter, President
WAVELAND CAPITAL MANAGEMENT, L.P.
By: Clincher Capital Corporation
Its: General Partner
By: /s/ David S. Richter
----------------------------
David S. Richter, President
CLINCHER CAPITAL CORPORATION
By: /s/ David S. Richter
----------------------------
David S. Richter, President
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JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, each of the persons named below agrees to the joint filing
of a Statement on Schedule 13D (including amendments thereto) with respect to
shares of common stock, par value $.01 per share of WHG Resorts and Casinos,
Inc., a Delaware corporation and further agrees that this Joint Filing
Agreement be included as an exhibit to such filings provided that, as
contemplated by Section 13d-1(f)(l)(ii), no person shall be responsible for
the completeness or accuracy of the information concerning the other persons
making the filing, unless such person knows or has reason to believe that
such information is inaccurate. This Joint Filing may be executed in any
number of counterparts, all of which together shall constitute one and the
same instrument.
Dated: September 12, 1997
WAVELAND PARTNERS, L.P.
By: Waveland Capital Management, L.P.
Its: General Partner
By: Clincher Capital Corporation
Its: General Partner
By: /s/ David S. Richter
----------------------------
David S. Richter, President
WAVELAND CAPITAL MANAGEMENT, L.P.
By: Clincher Capital Corporation
Its: General Partner
By: /s/ David S. Richter
--------------------------------
David S. Richter, President
CLINCHER CAPITAL CORPORATION
By: /s/ David S. Richter
----------------------------------
David S. Richter, President
