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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
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AUTOTOTE CORPORATION
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(Name of Issuer)
CLASS A COMMON STOCK, $0.01 PAR VALUE
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(Title of Class of Securities)
053323 10 1
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(CUSIP Number)
September 10, 1998
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/X/ Rule 13-d1(b)
/ / Rule 13-d1(c)
/ / Rule 13-d1(d)
*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).
Page 1 of 6 pages
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CUSIP NO. 053323 10 1 SCHEDULE 13G
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Oaktree Capital Management, LLC**
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/ /
(b)/X/
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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NUMBER OF 5 SOLE VOTING POWER
SHARES 6,681,200(1)
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
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EACH
7 SOLE DISPOSITIVE POWER
REPORTING
6,681,200(1)
PERSON WITH -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,681,200(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.7 %
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12 TYPE OF REPORTING PERSON*
IA, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
(**)Oaktree Capital Management, LLC, a California limited liability company
("Oaktree"), is filing in its capacity (i) as the General Partner of the OCM
Opportunities Fund, L.P., a Delaware limited partnership, and (ii) as investment
manager of a certain third party account which invests in similar securities as
the OCM Opportunities Fund, L.P., which together may be deemed to be the
beneficial owners of 6,681,200 shares of the Issuer's Class A Common Stock, $.01
par value ("Common Stock") (which represents approximately 17.7% of the
outstanding shares of the Issuer's Common Stock) based on their ownership of
shares of Common Stock and of the Issuer's 5 1/2% Convertible Subordinated
Debentures (the "Debentures").
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(1) Includes approximately 1,750,000 shares of Common Stock issuable upon
conversion of Debentures held by investment funds and accounts managed by
Oaktree.
Page 2 of 6 Pages
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CUSIP NO. 053323 10 1 SCHEDULE 13G
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ITEM 1(a). NAME OF ISSUER
Autotote Corporation
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ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
750 Lexington Avenue, 25th Floor New York, NY 10022
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ITEM 2(a). NAME OF PERSON(s) FILING
Oaktree Capital Management, LLC
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ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
550 S. Hope Street, 22nd Floor, Los Angeles, CA 90017
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ITEM 2(c). CITIZENSHIP
California
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ITEM 2(d). TITLE OF CLASS OF SECURITIES
Class A Common Stock, $0.01 par value
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ITEM 2(e). CUSIP NUMBER
053323 10 1
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b), OR
SECTION 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) / / Broker or Dealer registered under Section 15 of the Act (15
U.S.C. 78o).
(b) / / Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) / / Insurance Company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) / / Investment Company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) /X/ An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) / / An employee benefit plan or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii)(F);
Page 3 of 6 pages
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CUSIP NO. 053323 10 1 SCHEDULE 13G
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(g) / / A parent holding company or control person in accordance
with Section 240.13d-1(b)(ii)(G);
(h) / / A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) / / A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80-a3);
(j) / / Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP*
(a) Amount Beneficially Owned:
6,681,200 (1)
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(b) Percent of Class:
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
6,681,200 (1)
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(ii) Shared power to vote or to direct the vote
0
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(iii) Sole power to dispose or to direct the disposition of
6,681,200 (1)
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(iv) Shared power to dispose or to direct the disposition of
0
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*The filing of this Schedule 13G shall not be construed as an admission that the
reporting person or any of its affiliates is, for the purposes of Section 13(d)
or 13(g) of the Securities Exchange Act of 1934, the beneficial owner of any
securities covered by this Schedule 13G. In addition, the filing of this
Schedule 13G shall not be construed as an admission that the reporting person or
any of its affiliates is the beneficial owner of any securities covered by this
Schedule 13G for any purposes other than Section 13(d) of the Securities
Exchange Act of 1934.
(1) Includes approximately 1,750,000 shares of Common Stock issuable upon
conversion of Debentures held by investment funds and accounts managed by
Oaktree.
Page 4 of 6 pages
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CUSIP NO. 053323 10 1 SCHEDULE 13G
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following / /.
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ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
As of the date of this Schedule 13G, Oaktree, in its capacity (i) as the General
Partner of the OCM Opportunities Fund, L.P., a Delaware limited partnership, and
(ii) as investment manager of a certain third party account which invests in
similar securities as the OCM Opportunities Fund, L.P., may be deemed to
beneficially own 6,681,200 shares of the Issuer's Common Stock (which represents
approximately 17.7% of the outstanding shares of the Issuer's Common Stock)
based on the ownership by the OCM Opportunities Fund, L.P. and such third party
account of shares of Common Stock and the Issuer's Debentures.
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ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable
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ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable
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Page 5 of 6 pages
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CUSIP NO. 053323 10 1 SCHEDULE 13G
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ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and were not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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.
October 30, 1998
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Date
/S/ KENNETH LIANG
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Signature
Kenneth Liang, Managing Director
and General Counsel
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Name/Title
Page 6 of 6 pages
