UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
JACKPOT ENTERPRISES, INC.
__________________________________________________________________________
(NAME OF ISSUER)
COMMON STOCK
__________________________________________________________________________
(TITLE CLASS OF SECURITIES)
466392 10 7
__________________________
(CUSIP NUMBER)
Alan Annex, Esq.
Camhy Karlinsky & Stein
1740 Broadway
New York, NY 10019
___________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
September 8, 1996
______________________________________________________
(Date of Event which Required 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 .
Check the following box if a fee is being paid with the statement X .
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five
percent or less of such class.) (See Rule 13-d-7.)
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
SCHEDULE 13D
CUSIP No. 466392 10 7 Page 1 of 3 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Don R. Kornstein
Social Security No. ###-##-####
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 SOURCE OF FUNDS* N/A
______________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)
______________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
______________________________________________________________________________
NUMBER OF 7 SOLE VOTING POWER: 521,666
SHARES _______________________________________________________
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER:
EACH _______________________________________________________
REPORTING PERSON
WITH 9 SOLE DISPOSITIVE POWER: 521,666
_______________________________________________________
10 SHARED DISPOSITIVE POWER:
_______________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 521,666
______________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
______________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 5.28%
______________________________________________________________________________
14 TYPE OF REPORTING PERSON*: IN
______________________________________________________________________________
Item 1. Security and Issuer
This statement relates to options to purchase Common Stock, par value
$.01 per share of Jackpot Enterprises, Inc. ("Issuer"), held by Don R.
Kornstein. The principal executive offices of the Issuer are located at
1110 Palms Airport Drive
Las Vegas, Nevada 89119
Item 2. Identity and Background
(a) Don R. Kornstein
(b) 1110 Palms Airport Drive, Las Vegas, Nevada 89119
(c) President and Chief Executive Officer
Jackpot Enterprises, Inc.
1110 Palms Airport Drive
Las Vegas, Nevada 89119
(d) Not applicable
(e) Not applicable
(f) United States
Item 3. Source and Amount of Funds or Other Consideration
On September 8, 1994, in connection with his employment with the Issuer,
Mr. Kornstein was granted options to purchase 700,000 shares of Jackpot
Enterprises, Inc. Common Stock, vesting as follows:
233,333 - September 8, 1995
233,333 - September 8, 1996
233,334 - September 8, 1997
On June 30, 1995, Mr. Kornstein was granted options to purchase 27,500
shares of Jackpot Enterprises, Inc. Common Stock which vested on September
30, 1995.
On June 30, 1996, Mr. Kornstein was granted options to purchase 27,500
shares of Jackpot Enterprises, Inc. Common Stock which will vest on September
30, 1996.
Item 4. Purpose of Transaction
See Item 3.
Item 5. Interest in Securities of Issuer
(a) Mr. Kornstein currently has exercisable options to purchase 521,666
shares of Jackpot Enterprises, Inc. Common Stock. Such options constitute
5.28% of the outstanding Common Stock of the Issuer, assuming Mr. Kornstein's
options are exercised and such shares are outstanding. This amount does not
include options to acquire 233,334 which are currently not exercisable.
(b) Mr. Kornstein has sole power to dispose of or direct the disposition
of the shares referred to in paragraph (a).
(c) None
(d) None
(e) None
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
None
Item 7. Material to be Filed as Exhibits
None
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.
September 18, 1996 /s/ Don R. Kornstein
____________________ ____________________
Date Signature
