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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. NAME AND ADDRESS OF REPORTING PERSON
Acres, John F.
c/o Acres Gaming
815 NW 9th Street
Corvallis, OR 97330
2. ISSUER NAME AND TICKER OR TRADING SYMBOL
Acres Gaming Incorporated
AGAM
3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
4. STATEMENT FOR MONTH/YEAR
October, 1998
5. IF AMENDMENT, DATE OF ORIGINAL (MONTH/YEAR)
6. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
(X) Director (X) 10% Owner (X) Officer (give title below)
( ) Other (specify below)
Chairman of the Board
7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Direct 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- (D) or of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Indirect direct
(Instr. 8) End of Month (I) Benefi-
(Month/ cial
Day/ --------------------------------------- Owner-
Year) Code V Amount (A) or Price ship
(D)
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Common Stock 10/22/98 P 600 A $2.29 1,838,866 I *
$.01 Par Value 10/22/98 P 2,400 A $3.00 279,432 I **
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TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Derivative 2. Conver- 3. Trans- 4. Code 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action Derivative cisable and of Underlying of
Exercise Date Securities Ac- Expiration Securities Deriv-
Price of quired (A) or Date (Instr. 3 and 4) ative
Deriv- Disposed of (D) (Month/Day/ Secur-
ative Year) ity
Security (Instr. 5)
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Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
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Employee Stk Option $3.50 *** Common Stock
(Right to Buy)
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9. Number of 10. Ownership 11. Nature of
Derivative Form of Indirect
Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
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160,000 D
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Explanation of Responses:
* By self as trustee for the John and JoAnn Acres 1989 Living Trust.
** Held by a custodian fbo the reporting person's minor children. The
reporting person does not exercise any discretionary control over such
shares and disclaims any beneficial ownership thereof.
*** Option vests as to 26,666 shares on each of 8/1/97, 2/1/98 and 8/1/98 and
as to 26,670 shares on 2/1/99.
SIGNATURE OF REPORTING PERSON
/s/ John F. Acres, by Robert W. Brown, Attorney in Fact
DATE
11/10/98
