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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 (Date of earliest event reported): October 2, 1998
STUART ENTERTAINMENT, INC.
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(Exact name of registrant as specified in its charter)
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Delaware 0-10737 84-0402207
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(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
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3211 Nebraska Avenue
Council Bluffs, Iowa 51501
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (712) 323-1488
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
On October 2, 1998, Albert F. Barber resigned his positions as
Chairman of the Board of Directors ("Chairman") and Chief Executive Officer
("CEO") of Stuart Entertainment, Inc. for personal and family reasons. The
Company has appointed Joseph M. Valandra as the Company's Chairman and CEO. Mr.
Valandra previously served as the Vice President of Grand Casinos, Inc.
Additional information is contained in the Company's press release
dated September 30, 1998, attached hereto as Exhibit 20.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
20 Press Release dated September 30, 1998.
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SIGNATURES
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 thereunto duly authorized.
STUART ENTERTAINMENT, INC.
Date: October 9, 1998 By: /s/ PAUL C. TUNINK
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Paul C. Tunink, Vice President Finance
and Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Exhibit Description
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20 Press Release dated September 30, 1998
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EXHIBIT 20
ALBERT F. BARBER, STUART ENTERTAINMENT
CHAIRMAN AND
CHIEF EXECUTIVE OFFICER RESIGNS
COUNCIL BLUFFS, Iowa, September 30, 1998 - Stuart Entertainment, Inc.
d/b/a Bingo King (Nasdaq: STUA), announced today that Albert F. Barber,
Chairman of the Board of Directors and Chief Executive Officer, will resign
effective Friday, October 2, 1998 for personal and family reasons. Mr. Barber
will be replaced by Joseph M. Valandra, formerly Vice President of Grand
Casinos, Inc. (NYSE:GND).
Mr. Barber will provide Mr. Valandra with transitional support to
enable Stuart to continue its aggressive repositioning in the bingo industry.
Mr. Barber said "It's been a challenging but exciting period at Stuart. The
relationships I have established both within the Company and with its
distributors and others in the gaming business have been terrific. I'm sure
that Joe will continue to aggressively advance Stuart, especially in the
transition of bingo to the electronic era."
Mr. Valandra stated "I look forward to working with Stuart's
employees, customers and suppliers to meet the exciting new opportunities and
challenges that lie ahead. As the market leader in North America, Stuart has
many strengths upon which to build."
Stuart Entertainment, Inc. is the world's largest manufacturer of
bingo paper, pulltab tickets and related gaming equipment and supplies, with
locations in the United States, Canada and Mexico. Its subsidiaries include
Bazaar & Novelty, Canada's largest supplier of bingo paper and related
supplies, Video King, a major supplier of electronic gaming systems, located in
Littleton, Colorado and Trade Products, a leader in pulltab production, located
in Lynnwood, Washington.
