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): June 6, 1996
GRAND CASINOS, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA
(State or other jurisdiction of incorporation)
0-19565 41-1689535
(Commission File Number) (IRS Employer Identification No.)
13705 FIRST AVENUE NORTH, PLYMOUTH MINNESOTA 55441
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (612) 449-9092
NOT APPLICABLE
(Former name or former address, if changed since last report)
Page 1 of 4
Exhibit Index Appears on Page 3
ITEM 5. OTHER EVENTS.
The Registrant's Press Release dated June 6, 1996, which is filed as
Exhibit 99.1 to this Form 8-K, is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENT, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
99.1 Press Release dated June 6, 1996.
SIGNATURE
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 thereunto duly authorized.
GRAND CASINOS, INC.
(Registrant)
Date: June 7, 1996 By: /s/ Timothy J. Cope
--------------------
Name: Timothy Cope
Title: Chief Financial Officer
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE
99.1 Press Release..................................................4
Exhibit 99.1
GRAND CASINOS, INC. LOGO NEWS RELEASE
GRAND CASINOS, INC.
13705 1ST AVENUE NORTH
MINNEAPOLIS, MN 55441
612-449-9092
612-449-9353 (FAX)
HTTP://WWW.GRANDCASINOS.COM
TRADED: NYSE (GND)
FOR FURTHER INFORMATION CONTACT:
Donna Volkers 612-449-8534
or
Pam Zahn 612-449-7071
FOR IMMEDIATE RELEASE:
THURSDAY, JUNE 6, 1996
GRAND CASINOS PROVIDES LOAN TO STRATOSPHERE
MINNEAPOLIS, JUNE 6, 1996 - GRAND CASINOS, INC. (NYSE:GND) announced today that
it will loan Stratosphere Corporation $48.5 million pursuant to a previously
agreed upon completion guaranty. The majority of the funds advanced under the
guaranty have been used to pay for enhancements to the original scope of the
project. Grand Casinos currently owns approximately 42 percent of Stratosphere
Corporation and had agreed to provide the guaranty as part of Stratosphere's
March 1995 $203-million First Mortgage Note offering. The Grand Casinos loan
will bear interest at 14.25 percent and will be unsecured and subordinate to the
First Mortgage Notes.
Grand Casinos, Inc. has been a publicly traded company since 1991 and is listed
on the New York Stock Exchange under the trading symbol GND. The company
currently owns and operates the two largest casino/hotel resorts in the state of
Mississippi, manages two large land-based casinos in Louisiana, and manages two
large casino/hotel resorts in Minnesota. Grand Casinos also owns approximately
42 percent of Stratosphere Corporation, (NASDAQ National Market:TOWV) located in
Las Vegas, Nevada.
