SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): June 17, 1999
Elsinore Corporation
(Exact name of registrant as specified in its charter)
Nevada 001-07831 88-0117544
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
202 Fremont Street, Las Vegas, Nevada 89101
(Address of principal executive offices) (Zip Code)
(702) 385-4011
(Registrant's telephone number, including area code)
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Effective June 17, 1999 Elsinore Corporation (the "Company") dismissed KPMG LLP
("KPMG"). The decision to change accountants was approved by the Audit Committee
and the Board of Directors of the Company.
The reports of KPMG on the Company's financial statements as of and for the two
years ended December 31, 1998, did not contain an adverse opinion or disclaimer
of opinion, and were not qualified or modified as to uncertainty, audit scope,
or accounting principles.
During the two most recent fiscal years and the interim periods subsequent to
December 31, 1998 through June 17, 1999, there were no disputes between the
Company and KPMG as to matters of accounting principles or practices, financial
statement disclosure, or audit scope or procedure, which disagreements, if not
resolved to the satisfaction of KPMG, would have caused it to make a reference
to the subject matter of the disagreement in connection with its reports on the
financial statements for such periods. KPMG has furnished the Company with a
letter addressed to the Commission stating that it agrees with the above
statements. A copy of this letter is included as an exhibit to this Report on
Form 8-K.
The Company selected the firm of Deloitte & Touche LLP as independent
accountants for the Company's fiscal year ending December 31, 1999 to replace
KPMG. The Company's Board of Directors approved the selection of Deloitte &
Touche LLP as independent accountants upon recommendation of the Company's Audit
Committee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
(16) Letter regarding change in certifying accountants.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ELSINORE CORPORATION
By: /s/ Jeffrey T. Leeds
JEFFREY T. LEEDS
President and
Chief Executive Officer
By: /s/ S. Barton Jacka
S. BARTON JACKA
Secretary, Treasurer, and
Principal Financial Officer
Date: June 25, 1999
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Exhibit 16
June 22, 1999
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Elsinore Corporation and, under the
date of February 26, 1999, we reported on the consolidated balance sheets of
Elsinore Corporation and subsidiaries (Reorganized Company) as of December 31,
1998 and 1997 and the related consolidated statements of operations,
shareholders' equity (deficiency) and cash flows for the year ended December 31,
1998 and the ten month period from March 1, 1997 (effective date) through
December 31, 1997 and of Elsinore Corporation and subsidiaries (Predecessor
Company) for the period from January 1, 1997 through February 28, 1997. On June
17, 1999, our appointment as principal accountants was terminated. We have read
Elsinore Corporation's statements included under Item 4 of its Form 8-K dated
June 17, 1999, and we agree with such statements, except that we are not in a
position to agree or disagree with Elsinore Corporation's statement that the
change was approved by the Audit Committee and the Board of Directors of the
Company, nor if the Company is in the process of retaining a public accounting
firm to replace KPMG.
Very truly yours,
KPMG, LLP
Las Vegas, Nevada
