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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
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PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of ealiest event reported): July 31, 1998
Commission file number 33-76368
BECKER GAMING, INC.
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(Exact name of registrant as specified in its charter)
Nevada 88-0220923
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(State or other jurisdiction of (I.R.S. Employer
Incorporation or organization) Identification No.)
740 S. Decatur
Las Vegas, Nevada 89107
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(Address of principal (Zip Code)
executive offices)
(702) 258-5200
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
Becker Gaming, Inc. (the "Company") previously filed a Current Report on
Form 8-K, dated as of June 25, 1998 (the "June 8-K"). Unless otherwise
indicated, capitalized terms used in this Current Report on Form 8-K have the
meanings ascribed to such terms in the June 8-K.
In the June 8-K, the Company reported that on June 25, 1998 the
Bankruptcy Court in the Chapter 11 proceedings involving its wholly owned
subsidiary, Arizona Charlie's, Inc. ("AC"), had confirmed a Consensual Plan of
reorganization proposed by AC and High River. Subsequently, UHFS, which had
provided AC a financing commitment, failed to honor that commitment to AC by
July 31, 1998, which was the deadline under the Consensual Plan for funding the
payments needed for AC to accomplish the Financing Option. Consequently, the
Debt Conversion Option under the Consensual Plan has become effective.
To date, the AC affiliates, including the Company, have made a $1.5
million new value contribution to AC and released their claims against AC, each
as required under the Consensual Plan. All undisputed trade creditors of AC have
been paid as required under the Consensual Plan.
AC anticipates that the claims of the holders of the AC Notes and the
holders of the CQC Noteholders Guaranty Claims will be paid on or around August
20, 1998 through funding to be provided by High River in accordance with the
terms of the Debt Conversion Option under the Consensual Plan. High River or its
nominee expects to be licensed by the Nevada Gaming Authorities to operate the
Arizona Charlie's Hotel & Casino as early as the end of September of 1998. Upon
the licensure of High River or its nominee, the Consensual Plan would become
fully effective. There can be no assurance, however, that High River or its
nominee will be licensed as expected. Once the Debt Conversion Option is fully
effective, AC will be a wholly owned subsidiary of High River and the Company
will not have any equity interest in AC.
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SIGNATURES
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.
Becker Gaming, Inc.
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(Registrant)
Date: August 17, 1998 /S/ Bruce F. Becker
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Bruce F. Becker
President, Chief Executive
Officer and (Principal Executive
Officer)
Date: August 17, 1998 /S/ Jerry Griffis
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Jerry Griffis
Controller (Principal Financial and
Accounting Officer)
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