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): July 20, 1995
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PLAYERS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Nevada 0-14897 95-41745832
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation)
3900 Paradise Road, Suite 135
Las Vegas, NV 89109
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 691-3300
(Not applicable)
(Former name or former address, if changed since last report)
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No Exhibit Index Enclosed
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Item 5. Other Events
Players International, Inc. (the "Company") entered into an agreement on
July 20, 1995 to purchase the President Casino IV Riverboat for approximately
$18 million, subject to the receipt of regulatory approval by the Louisiana
Riverboat Gaming Commission, the Louisiana State Police and the U.S. Coast
Guard. Preliminary plans call for the President Casino IV to replace the
Company's original Lake Charles Riverboat, the Players II. The addition of the
new riverboat will increase gaming space by 4,400 square feet and add 50 gaming
positions. Subject to regulatory approval from the Illinois Gaming Board,
Players II will be moved to the Company's riverboat facility in Metropolis,
Illinois where it will replace the Company's existing Metropolis riverboat.
Assuming receipt of the foregoing approvals, the Company currently anticipates
spending an additional $9 million for the acquisition of gaming equipment,
refitting and transportation costs and costs associated with receipt of required
approvals.
On July 27, 1995, the Company, through a joint venture (the "Hyatt Joint
Venture") with Hyatt Corporation ("Hyatt"), entered into a letter of intent with
Harrah's Entertainment, Inc. ("Harrah's") to locate a riverboat casino at the
Harrah's Shreveport riverboat casino site (the "Shreveport Letter of Intent").
The Shreveport Letter of Intent contemplates that the Hyatt Joint Venture will
own and operate a riverboat, which will be added to the Harrah's site in
Shreveport, and the Hyatt Joint Venture and Harrah's will invest in major
shoreside enhancements, including a hotel to support city convention and visitor
needs, additional structured parking and other amenities. The transactions
contemplated by the Shreveport Letter of Intent will be conditioned upon the
Hyatt Joint Venture's acquisition of a riverboat currently located in New
Orleans, the completion of definitive documentation between the Hyatt Joint
Venture and Harrah's, the receipt of necessary regulatory and board of director
approvals and the amendment of existing Harrah's agreements with the City of
Shreveport.
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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.
PLAYERS INTERNATIONAL, INC.
(Registrant)
By: /s/ Peter J. Aranow
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Peter J. Aranow
Executive Vice President,
Chief Financial Officer
and Secretary
By: /s/ Stephen K. Radusch
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Stephen K. Radusch
Corporate Controller
Dated: August 4, 1995
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