<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
Santa Fe Gaming Corporation
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(Name of Issuer)
Exchangeable Redeemable Preferred Stock, par value $.01 per share
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(Title of Class of Securities)
80190420
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(CUSIP Number)
Paul W. Lowden, Santa Fe Gaming Corporation
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4949 North Rancho Drive, Las Vegas, Nevada 89130-3505, (702) 658-4300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 2, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and
is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check
the following box .
NOTE: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. SEE
Rule 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
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1 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, as amended, 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 9 Pages)
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CUSIP No. 80190420 13D Page 2 of 9 Pages
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<TABLE>
<CAPTION>
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<S> <C> <C>
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Paul W. Lowden
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
N/A
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
521,500 (rounded up to the nearest whole share)
NUMBER OF ----------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ----------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 521,500 (rounded up to the nearest whole share)
PERSON ----------------------------------------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
521,500 (rounded up to the nearest whole share)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.89%
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14 TYPE OF REPORTING PERSON*
IN
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1. SECURITY AND ISSUER
Exchangeable Redeemable Preferred Stock
Santa Fe Gaming Corporation
4949 North Rancho Dr.
Las Vegas, NV 89130
Item 2. IDENTITY AND BACKGROUND.
(a) Paul W. Lowden
(b) Santa Fe Gaming Corporation
4949 North Rancho Drive
Las Vegas, NV 89130
(c) President and Chief Executive Officer
Santa Fe Gaming Corporation
4949 North Rancho Drive
Las Vegas, NV 89130
(d) No
(e) No
(f) United States
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Santa Fe Gaming Corporation (the "Company") became the successor to
Sahara Casino Partners, L.P., and Sahara Resorts in a corporate
reorganization (the "Reorganization") in September 1993. In the
Reorganization, holders of limited partnership units of Sahara Casino
Partners, L.P. received shares of common stock and Exchangeable Redeemable
Preferred Stock (the "Preferred Stock") in exchange for the Sahara Casino
Partners, L.P. units. Mr. Lowden acquired beneficial ownership of 6,500
shares of Preferred Stock in the Reorganization. Additionally, pursuant to
the terms of the Preferred Stock, holders of Preferred Stock received
dividends in the form of additional shares of Preferred Stock from March 1994
through September 1996. Mr. Lowden purchased those shares of Preferred Stock
with personal funds and funds from working capital with respect to the
purchases by LICO.
Item 4. PURPOSE OF TRANSACTION.
Mr. Lowden acquired the Preferred Stock described herein for
investment purposes. Mr. Lowden may, from time to time, purchase additional
shares of Preferred Stock in the open market or in privately negotiated
transactions.
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CUSIP No. 80190420 13D Page 4 of 9 Pages
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Mr. Lowden owns more than a majority of the outstanding shares of
Common Stock, $.01 par value, of the Company. As a result, Mr. Lowden has the
power to initiate a plan or proposal which may result in the occurrence of
one or more of the events described in Item 4 of Schedule 13D ("Item 4
Event"). While Mr. Lowden currently has no such plans or proposals, it is
conceivable that he could, in the future, develop and implement a plan or
proposal which would result in the occurrence of one or more Item 4 Events.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Mr. Lowden beneficially owns 521,500 shares of Preferred
Stock, or 5.89% of the outstanding Preferred Stock of the Company.
(b) Mr. Lowden has sole voting and dispositive power with respect
to 521,500 shares of Preferred Stock, or 5.89% of the outstanding Preferred
Stock of the Company.
(c) Mr. Lowden acquired the following shares of Preferred Stock
individually. Set forth below is information regarding Mr. Lowden's
acquisition of shares of Preferred Stock from September 30, 1993 to January 26,
2000.
<TABLE>
<CAPTION>
NUMBER OF SHARES
DATE PURCHASED/ACQUIRED PRICE PER SHARE
<C> <C> <C>
9/30/93 4,000 (1)
4/5/94 160 (2)
9/9/94 2,600 (3)
9/30/94 270 (2)
3/31/95 281 (2)
9/30/95 291 (2)
3/31/96 303 (2)
9/30/96 315 (2)
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TOTAL 8,220
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</TABLE>
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(1) Issued in the Reorganization
(2) 4% stock dividend issued with respect to all outstanding shares of
Preferred Stock.
(3) Acquired on termination of trust for the benefit of Mr. Lowden's
son, Paul W. Lowden IV.
Mr. Lowden, as trustee of a trust for the benefit of his son Paul W.
Lowden IV, acquired beneficial ownership of 2,500 shares of Preferred Stock
on September 30, 1993 in the Reorganization and an additional 100 shares of
Preferred Stock on April 1, 1994 as a stock dividend with respect to such
shares. Such 2,600 shares reverted to Mr. Lowden upon termination of the
trust on September 9, 1994. See footnote (3) above.
Mr. Lowden is the 100% shareholder of LICO, which is a shareholder
of the Company. Pursuant to Rule 13d-3(a) of the Exchange Act, because of Mr.
Lowden's relationship to LICO, Mr. Lowden is deemed to be the indirect
beneficial owner of Preferred Stock purchased by LICO. Since September 30,
1993, LICO acquired 516,441 shares of Preferred Stock through open market
transactions, pursuant to stock dividends and as a contribution to capital
from Mr. Lowden and his wife jointly.
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CUSIP No. 80190420 13D Page 5 of 9 Pages
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<TABLE>
<CAPTION>
NUMBER OF SHARES
DATE PURCHASED/ACQUIRED PRICE PER SHARE
<C> <C> <C>
9/30/93 39,200
10/1/93 10,000 $1.13
10/13/93 10,000 1.13
11/4/93 10,000 1.13
4/5/94 2,768 (1)
9/9/94 1,081 .75
9/30/94 2,927 (1)
3/31/95 3,039 (1)
9/30/95 3,160 (1)
3/31/96 3,287 (1)
9/30/96 3,418 (1)
7/8/97 3,161 .53 (2)
12/9/98 3,900 0.19
12/9/98 5,000 0.19
12/10/98 200 0.19
12/11/98 900 0.19
2/26/99 5,000 0.31
3/4/99 11,000 0.38
3/8/99 5,000 0.38
3/9/99 30,000 0.50
3/10/99 5,000 0.50
3/10/99 42,000 0.56
3/11/99 20,000 0.69
3/11/99 20,000 0.63
3/11/99 20,000 0.63
3/11/99 11,100 0.63
3/12/99 2,100 0.63
3/15/99 11,800 0.63
3/16/99 5,000 0.69
3/17/99 24,500 0.75
3/18/99 1,400 0.75
3/22/99 5,000 0.38
7/16/99 7,000 0.56
7/20/99 10,000 0.63
7/21/99 10,000 0.63
7/22/99 10,000 0.63
7/28/99 5,000 0.63
8/2/99 5,000 0.63
8/3/99 10,000 0.63
8/6/99 7,500 0.59
8/9/99 5,000 0.56
</TABLE>
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CUSIP No. 80190420 13D Page 6 of 9 Pages
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<TABLE>
<CAPTION>
NUMBER OF SHARES
DATE PURCHASED/ACQUIRED PRICE PER SHARE
<C> <C> <C>
8/11/99 5,000 0.56
8/16/99 2,500 0.56
8/18/99 5,000 0.56
8/19/99 5,000 0.56
11/24/99 7,500 0.94
11/30/99 5,000 1.00
12/1/99 5,000 0.88
12/1/99 10,000 0.94
12/2/99 12,500 0.94
12/3/99 5,000 0.94
12/6/99 10,000 0.91
12/7/99 5,000 0.81
12/17/99 5,000 0.72
12/20/99 10,000 0.69
12/22/99 5,000 0.69
12/23/99 2,500 0.59
12/29/99 10,000 0.63
12/30/99 5,000 0.53
1/3/00 5,000 0.53
1/21/00 6,000 0.50
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Total 516,441
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</TABLE>
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(1) 4% stock dividend issued with respect to all outstanding shares of
Preferred Stock.
(2) Contributed to the capital of LICO by Mr. and Mrs. Lowden. Represents
2,500 shares of Preferred Stock received by Mr. Lowden, as trustee
of a trust for the benefit of his son, Paul W. Lowden IV, and
stock dividends issued with respect to such shares.
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CUSIP No. 80190420 13D Page 7 of 9 Pages
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Mr. Lowden's wife, Suzanne Lowden, individually owns 1,262 shares of
Preferred Stock as follows:
<TABLE>
<CAPTION>
NUMBER OF SHARES
DATE PURCHASED/ACQUIRED PRICE PER SHARE
<C> <C> <C>
9/30/93 1,000 (1)
4/5/94 40 (2)
9/30/94 41 (2)
3/31/95 43 (2)
9/30/95 44 (2)
3/31/96 46 (2)
9/30/96 48 (2)
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Total 1,262
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</TABLE>
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(1) Issued in the Reorganization.
(2) 4% stock dividend issued with respect to all outstanding Preferred
Stock.
Mr. Lowden disclaims beneficial ownership of such shares.
Mr. Lowden's wife, Suzanne Lowden, individually owns 1,262 shares of
Preferred Stock for the benefit of William Lowden, as follows:
<TABLE>
<CAPTION>
NUMBER OF SHARES
DATE PURCHASED/ACQUIRED PRICE PER SHARE
<C> <C> <C>
9/30/93 1,000 (1)
4/5/94 40 (2)
9/30/94 41 (2)
3/31/95 43 (2)
9/30/95 44 (2)
3/31/96 46 (2)
9/30/96 48 (2)
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Total 1,262
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</TABLE>
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(1) Issued in the Reorganization.
(2) 4% stock dividend issued with respect to all outstanding Preferred
Stock.
Mr. Lowden disclaims beneficial ownership of such shares.
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CUSIP No. 80190420 13D Page 8 of 9 Pages
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(e) Not Applicable.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
None
Item 7. MATERIAL TO BE FILED AS EXHIBITS
None
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CUSIP No. 80190420 13D Page 9 of 9 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this Schedule 13D is
true, complete and correct.
Dated: January 27, 2000
By: /s/ Paul W. Lowden
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Paul W. Lowden
