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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[x] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: June 28, 1997
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: N/A
Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
Part I-Registrant Information
Full Name of Registrant:
Capital Gaming International, Inc.
Former Name if Applicable:
N/A
Address of Principal Executive Office (Street and Number):
2701 East Camelback Road, Suite 484
City, State and Zip Code
Phoenix, Arizona 85016
Part II-Rules 12b-25 (b) and (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25, the following
should be completed. (Check box if appropriate)
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(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[x] (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion
thereof will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report or transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following
the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
Part III-Narrative
State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q,
N-SAR or the transition report or portion thereof could not be filed within the
prescribed time period.
On May 28, 1997, Capital Gaming International, Inc., a New Jersey
corporation (the "Company") consummated its First Amended and Modified Plan of
Reorganization which was confirmed by the United States Bankruptcy Court for the
District of New Jersey as of March 19, 1997 (the "Plan"). Since the Plan was
consummated on May 28, 1997, the Company has relocated its principal executive
offices from New Jersey to Arizona. Due to the Company's reorganization, many of
the descriptions of its business operations and financial information relating
to the period covered by Form 10-K will require extensive time and usage of
personnel that cannot be eliminated by the Company without unreasonable effort
and expense. Additionally, the Company is in the process of verifying certain
information from the holders of its secured notes which is necessary to
determine the extent of its net operating losses.
Part IV-Other Information
(1) Name and telephone number of person to contact in regard to this
notification
William S. Papazian 602 667-0670
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under section 13 or 15(d)
of the Securities Exchange Act of 1934 or section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[x] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or
portion thereof?
[x] Yes [ ] No
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If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
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A significant change in the results of the operations of Capital Gaming
International, Inc. ("the Company") is expected due to the sale in May of 1996,
of the assets of and its remaining interest in Crescent City Capital Development
Corp. ("CCCD"), a wholly-owned subsidiary of the Company. In addition, in May of
1997, the Company consummated its First Amended and Modified Plan of
Reorganization, which will result in a significant change in the results of
operations.
A reasonable estimate of the results cannot be made at this time
because the Company has not yet received its audited financial statements for
the last fiscal year.
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Capital Gaming International, Inc.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: 9/26/97 By:/s/ William S. Papazian
Name: William S. Papazian
Title: Senior Vice President and
General Counsel
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