SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: February 28, 1995
ELSINORE CORPORATION
(Exact name of registrant as specified in its charter)
STATE OF NEVADA 1-7831 88 0117544
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
202 Fremont Street 89101
Las Vegas, Nevada (Zip Code)
(Address of principal executive
offices)
Registrant's telephone number, including area code: (702) 385-4011
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Item 5. Other Events.
Anticipated Capital Contributions to Spotlight 29 Casino
Elsinore Corporation (the "Company") believes that based on the
trend of the first six weeks of operations of the Spotlight 29 Casino
("Spotlight 29"), which opened near Palm Springs, California on
January 14, 1995, it may be required to contribute by the end of the
first quarter up to an additional $1 million to fund Spotlight 29's
operating expenses. The projected need for one or more additional
capital contributions is the result, among other things, of lower
than anticipated revenues from operation of Spotlight 29. This lower
revenue is believed by the Company to be attributable in part to
competition from the other Native American gaming facilities in
Southern California that continue to operate electronic gaming
machines without an approved compact with the State of California and
from the marketing plan of Spotlight 29 taking longer to implement
than expected.
Any such capital contribution will require the Company to raise
additional financing in the first quarter of 1995 to meet its debt
and other obligations. There can be no assurances that such
financing will occur. If the Company fails to raise this financing,
the Company will face a liquidity crisis and, as such, will need to
obtain waivers from its creditors, restructure its debt, sell assets
or seek protection from creditors. For a discussion of the Company's
liquidity in general, see pages 7, 8 and 19 through 23 of the
Company's Registration Statement (No. 33-85490) filed with the
Securities and Exchange Commission and dated January 25, 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this Current Report on Form 8-K
to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated: February 28, 1995
ELSINORE CORPORATION
By
Frank L. Burrell, Jr.
Chairman of the Board
Chief Executive Officer
