SANTA FE GAMING CORP
8-K, 1999-05-10
MISCELLANEOUS AMUSEMENT & RECREATION
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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): May 3, 1999

                           SANTA FE GAMING CORPORATION
               (Exact Name of Registrant as Specified in Charter)

         NEVADA                         1-9481                88-0304348
(State or Other Jurisdiction    (Commission File Number)     (IRS Employer
        of Incorporation)                                   Identification No.)

            4949 NORTH RANCHO DRIVE
                LAS VEGAS, NEVADA                                  89130
      (Address of Principal Executive Offices)                  ( Zip Code)


      Registrant's telephone number, including area code:      (702) 658-4300


                                      NONE
          (Former Name or Former Address, if Changed Since Last Report)

                                       

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ITEM 5.           OTHER EVENTS.

         On May 4, 1999, Santa Fe Gaming Corporation, a Nevada corporation (the
"Company") issued a press release announcing the election of new board members
at the May 3, 1999 annual meeting.

         A copy of the press release dated May 4, 1999 issued by the Company is
filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
herein by reference.

ITEM 7.           EXHIBITS.

         The following exhibit is filed with this Current Report on Form 8-K.

EXHIBIT NO.      DESCRIPTION
- -----------      -----------

99.1             Press Release of Santa Fe Gaming Corporation dated May 4, 1999

                                                       2

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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.

                                   SANTA FE GAMING CORPORATION

Date: May 7, 1999              By: /s/ Thomas K. Land
                                   -----------------------------
                                       Thomas K. Land
                                       Senior Vice President and
                                       Chief Financial Officer

                                       3


<PAGE>

                                                                  EXHIBIT 99.1

                           SANTA FE GAMING CORPORATION
                             4949 NORTH RANCHO DRIVE
                               LAS VEGAS, NV 89130

FOR IMMEDIATE RELEASE
MAY 4, 1999


                      SANTA FE GAMING CORPORATION ANNOUNCES
                           ELECTION OF FOUR DIRECTORS

LAS VEGAS, NEV. - Santa Fe Gaming Corporation (OTCBB:SGMG) announced that 
four directors were elected at the Annual Meeting of Stockholders held on May 
3, 1999, two by the Common Stockholders and two by the Preferred 
Stockholders. Messrs. Paul W. Lowden and James W. Lewis were elected by the 
Common Stockholders to serve until the 2002 Annual Meeting of Stockholders. 
Messrs. John M. Bradhan and Peter J. Siris were elected by the Preferred 
Stockholders as special directors to serve until the 2000 Annual Meeting of 
Stockholders and the 2001 Annual Meeting of Stockholders, respectively.

Santa Fe Gaming Corporation owns and operates the Santa Fe Hotel and Casino 
in northwest Las Vegas and the Pioneer Hotel and Gambling Hall in Laughlin, 
Nevada. In addition, SFGC holds several real estate parcels for development 
within or in the area surrounding Las Vegas, Nevada.

CONTACT:  Thomas K. Land
          Chief Financial Officer
          Santa Fe Gaming Corporation
          702-658-4340



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