HOLLYWOOD CASINO CORP
SC 13G, 1999-02-01
HOTELS & MOTELS
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<PAGE>
 
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                 SCHEDULE 13G

                   Under the Securities Exchange Act of 1934


                         Hollywood Casino Corporation
- --------------------------------------------------------------------------------
                               (Name of Issuer)
 
               Class A Common Stock, par value $0.0001 per share
- --------------------------------------------------------------------------------
                        (Title of Class of Securities)
 
                                   436132203
- --------------------------------------------------------------------------------
                                (CUSIP Number)
 
                               December 29, 1998
- --------------------------------------------------------------------------------
            (Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

     [_]  Rule 13d-1(b)

     [X]  Rule 13d-1(c)

     [_]  Rule 13d-1(d)

* 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 the
disclosures provided in a prior cover page.

The information required in 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 ("Act") 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>
 
                                 SCHEDULE 13G

- -------------------
CUSIP No. 436132203
- -------------------

- --------------------------------------------------------------------------------
     NAME OF REPORTING PERSONS
1    I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
 
     Aileen M. Pratt
- --------------------------------------------------------------------------------
     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_]
2                                                                        (b) [X]
- --------------------------------------------------------------------------------
     SEC USE ONLY
3
- --------------------------------------------------------------------------------
     CITIZENSHIP OR PLACE OR ORGANIZATION
4
     United States
- --------------------------------------------------------------------------------
                         SOLE VOTING POWER
                    5
  NUMBER OF              2,925,402
                    ------------------------------------------------------------
   SHARES                SHARED VOTING POWER
BENEFICIALLY        6                       
  OWNED BY               21,000 (1)          
                    ------------------------------------------------------------
    EACH                 SOLE DISPOSITIVE POWER
 REPORTING          7                         
   PERSON                2,925,402             
                    ------------------------------------------------------------
                         SHARED DISPOSITIVE POWER
    WITH            8                           
                         21,000 (1)              
- --------------------------------------------------------------------------------
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
     2,946,402
- --------------------------------------------------------------------------------
     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10   (SEE INSTRUCTIONS)                                                      [_]
- --------------------------------------------------------------------------------
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
     11.8%
- --------------------------------------------------------------------------------
     TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
12                  
     IN
- --------------------------------------------------------------------------------

(1)  Represents (a) 14,000 shares of Common Stock owned of record by MEP Family
     Partnership and (b) 7,000 shares of Common Stock owned of record by CLP
     Family Partnership. Aileen M. Pratt and her spouse are the Managing
     Partners of each of MEP Family Partnership and CLP Family Partnership.
<PAGE>
 
                                  SCHEDULE 13G

- -------------------
CUSIP No. 436132203
- -------------------

- --------------------------------------------------------------------------------
     NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
1    (ENTITIES ONLY)
 
     MEP Family Partnership
- --------------------------------------------------------------------------------
     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_]
2                                                                        (b) [X]
- --------------------------------------------------------------------------------
     SEC USE ONLY
3
- --------------------------------------------------------------------------------
     CITIZENSHIP OR PLACE OR ORGANIZATION
4
     Texas
- --------------------------------------------------------------------------------
                    SOLE VOTING POWER
               5                    
  NUMBER OF         14,000 (1)       
               -----------------------------------------------------------------
   SHARES           SHARED VOTING POWER
BENEFICIALLY   6                     
  OWNED BY          0        
               -----------------------------------------------------------------
    EACH            SOLE DISPOSITIVE POWER 
 REPORTING     7
   PERSON           14,000 (1) 
               -----------------------------------------------------------------
                    SHARED DISPOSITIVE POWER            
    WITH       8                            
                    0                        
- --------------------------------------------------------------------------------
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
     14,000
- --------------------------------------------------------------------------------
     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10   (SEE INSTRUCTIONS)                                                      [_]
- --------------------------------------------------------------------------------
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 
11                     
     Less than 0.1%
- --------------------------------------------------------------------------------
     TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
12                 
      PN
- --------------------------------------------------------------------------------

(1) Power is exercised through its Managing Partner, Aileen M. Pratt.
<PAGE>
 
                                 SCHEDULE 13G

- -------------------
CUSIP No. 436132203
- -------------------

- --------------------------------------------------------------------------------
     NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
     (ENTITIES ONLY)
1
     CLP Family Partnership
- --------------------------------------------------------------------------------
     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_]
2                                                                        (b) [X]
 
- --------------------------------------------------------------------------------
     SEC USE ONLY
3
- --------------------------------------------------------------------------------
     CITIZENSHIP OR PLACE OR ORGANIZATION
4
     Texas
- --------------------------------------------------------------------------------
                         SOLE VOTING POWER
                    5
  NUMBER OF              7,000 (1)
                    ------------------------------------------------------------
   SHARES                SHARED VOTING POWER
BENEFICIALLY        6                       
  OWNED BY               0                   
                    ------------------------------------------------------------
    EACH                 SOLE DISPOSITIVE POWER
 REPORTING          7                          
   PERSON                7,000 (1)                               
                    ------------------------------------------------------------
                         SHARED DISPOSITIVE POWER
                    8                                                    
    WITH                 0                                               
- --------------------------------------------------------------------------------
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON            
9    
     7,000 
- --------------------------------------------------------------------------------
     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 
10   (SEE INSTRUCTIONS)                                                      [_]
- --------------------------------------------------------------------------------
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 
11                     
     Less than 0.1%
- --------------------------------------------------------------------------------
     TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
     PN
- --------------------------------------------------------------------------------

(1) Power is exercised through its Managing Partner, Aileen M. Pratt.
<PAGE>
 
Item 1(a).     Name of Issuer:
- ---------      -------------- 

                    Hollywood Casino Corporation

Item 1(b).     Address of Issuer's Principal Executive Offices:
- ---------      ----------------------------------------------- 

                    Two Galleria Tower, Suite 2200
                    13455 Noel Road
                    Dallas, Texas 75240

Item 2(a).     Name of Persons Filing:
- ---------      ---------------------- 

                    Aileen M. Pratt, MEP Family Partnership and CLP Family
                    Partnership (collectively, the "Reporting Persons"). The
                    Reporting Persons expressly disclaim the existence of any
                    "group" within the meaning of Section 13(d)(3) of the
                    Securities Exchange Act of 1934, as amended, between
                    themselves or with any other person, with respect to the
                    Common Stock.

Item 2(b).     Address of Principal Business Office or, if None, Residence:
- ---------      ----------------------------------------------------------- 

                    Two Galleria Tower, Suite 2200
                    13455 Noel Road
                    Dallas, Texas 75240

Item 2(c).     Citizenship:
- ---------      ----------- 

                    Aileen M. Pratt is a citizen of the United States of
                    America. MEP Family Partnership and CLP Family Partnership
                    are each organized as a general partnership under the laws
                    of the State of Texas.

Item 2(d).     Title of Class of Securities:
- ---------      ---------------------------- 

                    Class A Common Stock, $0.0001 par value per share (the
                    "Common Stock")
 
Item 2(e).    CUSIP Number.:
- ------------  --------------
 
                    436132203

Item 3.   If this statement is filed pursuant to (S)(S)240.13d-1(b) or 240.13d-
- ------    --------------------------------------------------------------------
          2(b) or (c), check whether the person filing is a:
          ------------------------------------------------- 
 
 (a) [_]  Broker or dealer registered under section 15 of the Act (15 U.S.C.
          78o).
 
 (b) [_]  Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

                                      -5-
<PAGE>
 
 (c) [_]  Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C.
          78c).

 (d) [_]  Investment company registered under section 8 of the Investment
          Company Act of 1940 (15 U.S.C. 80a-8).
 
 (e) [_]  An investment adviser in accordance with (S)240.13d-1(b)(1)(ii)(E).
 
 (f) [_]  An employee benefit plan or endowment fund in accordance with
          (S)240.13d-1(b)(1)(ii)(F).
 
 (g) [_]  A parent holding company or control person in accordance with (S)
          240.13d-1(b)(1)(ii)(G).
 
 (h) [_]  A savings association as defined in Section 3(b) of the Federal
          Deposit Insurance Act (12 U.S.C. 1813).
 
 (i) [_]  A church plan that is excluded from the definition of an investment
          company under section 3(c)(14) of the Investment Company Act of 1940
          (15 U.S.C. 80a-3).                        
  
 (j) [_]  Group, in accordance with (S) 240.13d-1(b)(1)(ii)(J).

Item 4.   Ownership:
- ------    --------- 

          Aileen M. Pratt:

               (a)  Amount beneficially owned: 2,946,402

               (b)  Percent of class: 11.8%

               (c)  Number of shares as to which the person has:

                    (i)   Sole power to vote or direct the vote - 2,925,402.

                    (ii)  Shared power to vote as to direct the vote - 21,000.

                    (iii) Sole power to dispose or to direct the disposition
                          of - 2,925,402.

                    (iv)  Shared power to dispose or to direct the disposition
                          of - 21,000

          MEP Family Partnership:
          
               (a)  Amount beneficially owned: 14,000

               (b)  Percent of class: Less than 0.1%

                                      -6-
<PAGE>
 
               (c)  Number of shares as to which the person has:

                    (i)   Sole power to vote or direct the vote - 14,000.

                    (ii)  Shared power to vote as to direct the vote - 0.

                    (iii) Sole power to dispose or to direct the disposition
                          of - 14,000.

                    (iv)  Shared power to dispose or to direct the disposition
                          of - 0.

                  CLP Family Partnership:
                  -----------------------

               (a) Amount beneficially owned: 7,000.

               (b)  Percent of class: Less than 0.1%

               (c) Number of shares as to which the person has:

                    (i)   Sole power to vote or direct the vote - 7,000.

                    (ii)  Shared power to vote as to direct the vote - 0.

                    (iii) Sole power to dispose or to direct the disposition
                          of - 7,000.

                    (iv)  Shared power to dispose or to direct the disposition
                          of - 0.

Item 5.   Ownership of Five Percent or Less of a Class:
- ------    -------------------------------------------- 

               Not applicable.

Item 6.   Ownership of More than Five Percent on Behalf of Another Person:
- ------    --------------------------------------------------------------- 

               Not applicable.

Item 7.   Identification and Classification of the Subsidiary which Acquired the
- ------    ----------------------------------------------------------------------
          Security Being Reported on By The Parent Holding Company:
          -------------------------------------------------------- 

               Not applicable.

Item 8.   Identification and Classification of Members of the Group:
- ------    --------------------------------------------------------- 

               Not applicable.

                                      -7-
<PAGE>
 
Item 9.   Notice of Dissolution of Group:
- ------    ------------------------------ 

               Not applicable.

Item 10.  Certification:
- -------   ------------- 

               By signing below I certify that, to the best of my knowledge and
               belief, the securities referred to above were not acquired and
               are not held for the purpose of or with the effect of changing or
               influencing the control of the issuer of the securities and were
               not acquired and are not held in connection with or as a
               participant in any transaction having that purpose or effect.

                                   SIGNATURE

  After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

   Date: January 29, 1999.

                                             AILEEN M. PRATT

                                             /s/ Aileen M. Pratt
                                             ----------------------------------

                                             MEP FAMILY PARTNERSHIP

                                             /s/ Aileen M. Pratt
                                             ----------------------------------
                                             By:  Aileen M. Pratt
                                                  Managing Partner

                                             CLP FAMILY PARTNERSHIP

                                             /s/ Aileen M. Pratt
                                             ----------------------------------
                                             By:  Aileen M. Pratt
                                                  Managing Partner

                                      -8-

<PAGE>
                                                                     EXHIBIT 7.1
 

                            JOINT FILING AGREEMENT
                            ----------------------

          In accordance with Rule 13d-1(k)(1)(iii) promulgated under the
Securities and Exchange Act of 1934, as amended, the persons named below agree
to the joint filing on behalf of each of them of a Statement on Schedule 13G
(including any amendments thereto) with regard to the common stock of Hollywood
Casino Corporation, and further agree that this Joint Filing Agreement may be
included as an Exhibit to such joint filings. In evidence thereof, the
undersigned, being duly authorized, hereby execute this Agreement as of the 29th
day of January, 1999.

                                             AILEEN M. PRATT


                                             /s/ Aileen M. Pratt
                                             ---------------------------------

                                             MEP FAMILY PARTNERSHIP

                                             /s/ Aileen M. Pratt
                                             ---------------------------------
                                             By:  Aileen M. Pratt
                                                  Managing Partner

                                             CLP FAMILY PARTNERSHIP

                                             /s/ Aileen M. Pratt
                                             ---------------------------------
                                             By:  Aileen M. Pratt
                                                  Managing Partner



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