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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): January 14, 1999
HOLLYWOOD PARK, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware 0-10619 95-3667491
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1050 South Prairie Avenue, Inglewood, California 90301
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (310) 419-1500
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Item 5. Other Events.
On January 14, 1999, Hollywood Park, Inc. issued a press release, a copy of
which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
On January 14, 1999, Hollywood Park, Inc. issued a press release, a copy of
which is attached hereto as Exhibit 99.2 and incorporated herein by reference.
Item 7. Exhibits.
99.1 Press Release dated January 14, 1999.
99.2 Press Release dated January 14, 1999.
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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 hereunto duly authorized.
HOLLYWOOD PARK, INC.
Date: January 19, 1999
By: /S/ G. Michael Finnigan
_______________________________________
G. Michael Finnigan
President, Sports and Entertainment, Executive
Vice President, Treasurer and Chief Financial
Officer
-2-
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Exhibit Index
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Exhibit Description
- ------- -----------
99.1 Press Release dated January 14, 1999.
99.2 Press Release dated January 14, 1999.
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EXHIBIT 99.1
NEWS HOLLYWOOD PARK, INC.
BULLETIN 1050 South Prairie Avenue
Inglewood, California 90301
TRADED: NYSE: HPK
From: FRB
The Financial Productions Board, Inc.
FOR FURTHER INFORMATION:
<TABLE>
<S> <C> <C> <C>
AT THE COMPANY: AT THE FINANCIAL RELATIONS BOARD:
R.D. Hubbard Harris Tajyar Kathy Brunson Sue Dooley Michelle Burstin
Chairman and CEO General Inquiries Analyst Inquiries Analyst Inquiries Media Inquiries
G. Michael Finnigan (310) 442-0599 (312) 266-7800 (415) 986-1591 (310) 442-0599
President, Sports and
Entertainment, CFO
(310) 419-1539
</TABLE>
FOR IMMEDIATE RELEASE
THURSDAY, JANUARY 14, 1999
HOLLYWOOD PARK COMMENCES CONSENT SOLICITATION
TO AMEND EXISTING 9 1/2% SENIOR SUBORDINATED NOTES
INGLEWOOD, Calif., January 14, 1999--Hollywood Park, Inc. (NYSE: HPK) announced
today that it is pursuing a consent from the holders of its $125,000,000
aggregate principal amount of 9 1/2% Senior Subordinated Notes due 2007 to amend
the indenture in respect of such notes. The proposed amendments would
substantially conform certain covenenants to those expected to be included in an
indenture governing its anticipated offering of new Senior Subordinated Notes
dues 2007 (the "New Notes"). The consent is not required for Hollywood Park to
issue the New Notes.
The consent solicitation commences on January 15, 1999, has a record date of
January 14, 1999, and will expire at 5:00 p.m., New York City time, on January
29, 1999, unless otherwise extended (the "Expiration Date"). Hollywood Park
will pay a consent fee of $17.50 for each $1,000 in aggregate principal amount
of the notes as to which a valid and unrevoked consent has been received prior
to the Expiration Date. Hollywood Park has retained Lehman Brothers Inc. as
Consent Solicitation Agent and D.F. King & Co., Inc. as Information Agent.
Hollywood Park Inc., is a leading gaming company headquarted in Inglewood,
Calif. It owns and operates Casino Magic Corp. with casinos in Bay Saint Louis
and Biloxi, Miss., Bossier City, Louisiana, Neuquen City and San Martin de Los
Andes, Argentina; Boomtown, Inc. with casinos in Reno, Nev., Biloxi, Miss., and
New Orleans, Louisiana; the Hollywood Park Race Track, one of America's premiere
thoroughbred racing facilities and site of the 1997 Breeders Cup(R); Turf
Paradise Inc., a premier thoroughbred racing facility in Phoenix, Ariz.; and the
Hollywood Park Casino. The company owns and leases the Radisson Crystal Park
Hotel and Casino in Crystal City, Calif. Hollywood Park Race Track and Hollywood
Park Casino are situated on 378 acres near Los Angeles International Airport.
-more-
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Hollywood Park, Inc.
Add 1
For more information on Hollywood Park, Inc. via facsimile at no cost, call 1-
800-PRO-INFO and dial company code HPK.
(The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Forward-looking information involves important
risks and uncertainties that could significantly affect anticipated results in
the future and, accordingly, such results may differ from those expressed in
forward-looking statements made by or on behalf of the Company. For more
information on the potential factors that could affect the Company's financial
results, review the Company's filings with the Securities and Exchange
Commission, including the Company's annual report on Form 10-K and the Company's
other filings with the SEC.)
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EXHIBIT 99.2
NEWS HOLLYWOOD PARK, INC.
BULLETIN 1050 South Prairie Avenue
Inglewood, California 90301
TRADED: NYSE: HPK
From:
FRB
The Financial Productions Board, Inc.
FOR FURTHER INFORMATION:
<TABLE>
<S> <C> <C> <C> <C>
AT THE COMPANY: AT THE FINANCIAL RELATIONS BOARD:
R.D. Hubbard Harris Tajyar Kathy Brunson Sue Dooley Michelle Burstin
Chairman and CEO General Inquiries Analyst Inquiries Analyst Inquiries Media Inquiries
G. Michael Finnigan (310) 442-0599 (312) 266-7800 (415) 986-1591 (310) 442-0599
President, Sports and
Entertainment, CFO
(310) 419-1539
</TABLE>
FOR IMMEDIATE RELEASE
THURSDAY, JANUARY 14, 1999
HOLLYWOOD PARK ANTICIPATES $275 MILLION OFFERING OF SENIOR
SUBORDINATED NOTES
INGLEWOOD, Calif., January 14, 1999--Hollywood Park, Inc. (NYSE: HPK) announced
today that it anticipates offering $275,000,000 in aggregate principal amount of
Senior Subordinated Notes due 2007 in a private placement pursuant to Rule 144A
under the Securities Act of 1933. The net proceeds from the offering, after
payment of selling commissions and discounts, and other expenses of the
offering, are expected to be used to pay down its Amended Bank Credit Facility
and for other permitted corporate purposes.
The Senior Subordinated Notes anticipated to be offered and sold will not be
registered under the Securities Act of 1933, as amended, and may not be offered
or sold in the United States absent such registration or an applicable exemption
from such registration requirements.
This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy not shall there be any sale of Senior Subordinated Notes in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under applicable securities laws, or absent the
availability of an exemption for such registration or qualification
requirements.
Hollywood Park Inc., is a leading gaming company headquarted in Inglewood,
Calif. It owns and operates Casino Magic Corp. with casinos in Bay Saint Louis
and Biloxi, Miss., Bossier City, Louisiana, Neuquen City and San Martin de Los
Andes, Argentina; Boomtown, Inc. with casinos in Reno, Nev., Biloxi, Miss., and
New Orleans, Louisiana; the Hollywood Park Race Track, one of America's premiere
thoroughbred racing facilities and site of the 1997 Breeders Cup(R); Turf
Paradise Inc., a premier thoroughbred racing facility in Phoenix, Ariz.; and the
Hollywood Park-Casino. The company owns and leases the Radisson Crystal Park
Hotel and Casino in Crystal City, Calif.
-more-
<PAGE>
Hollywood Park, Inc.
Add 1
Hollywood Park Race Track and Hollywood Park-Casino are situated on 378 acres
near Los Angeles International Airport.
For more information on Hollywood Park, Inc. via facsimile at no cost, call 1-
800-PRO-INFO and dial company code HPK.
(The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Forward-looking information involves important
risks and uncertainties that could significantly affect anticipated results in
the future and, accordingly, such results may differ from those expressed in
forward-looking statements made by or on behalf of the Company. For more
information on the potential factors that could affect the Company's financial
results, review the Company's filings with the Securities and Exchange
Commission, including the Company's annual report on Form 10-K and the Company's
other filings with the SEC.)
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