(PAGE) 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) September 4, 1997
---------------------
EQUUS GAMING COMPANY L.P.
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Virginia 000-25306 54-1719877
- ---------------------------- ------------- -------------------
(State or other jurisdiction (Commission (I.R.S. Employer
of organization) File Number) Identification No.)
222 Smallwood Village Center, St. Charles, MD 20602
- ----------------------------------------------- ------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (301) 645-6833
--------------------
Not Applicable
- ------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
(PAGE)
Items 1-4
Not applicable.
Item 5 - Other Events
On August 19, 1997, Housing Development Associates S.E. ("HDA") redeemed
a 17% interest held by a minority partner, thereby increasing to 99% the
ownership interest in HDA of Equus Gaming Company L.P..
The News Release dated August 20, 1997, included as Exhibit 28.1 to this
report, is incorporated herein by reference.
Item 6
Not applicable.
Items 7
a) Not applicable
b) Not applicable
c) Exhibits
28.1 - News Release dated August 20, 1997
28.2 - Assignment of Partnership Interest dated August 19, 1997
Item 8
Not applicable.
(PAGE)
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 hereunto duly authorized.
EQUUS GAMING COMPANY L.P.
(Registrant)
By: Equus Management Company,
its managing general partner
Date: September 4, 1997 By: /s/ Gretchen Gronau
------------------ -------------------------------------
Gretchen Gronau
Vice President and
Chief Financial Officer
(PAGE)
EQUUS GAMING COMPANY L.P.
EXECUTIVE OFFICES
222 Smallwood Village Center, St. Charles, Maryland
(301) 843-8600 Fax (301) 870-5487
News Release
FOR IMMEDIATE RELEASE CONTACT
August 20, 1997 Gregory A. TenEyck
(301) 843-8600
EQUUS INCREASES STAKE IN HDA TO 99%
ST. CHARLES, Md.- Equus Gaming Company L.P. (Nasdaq:
EQUUS), a publicly traded partnership with horse racing
interests in the Caribbean, has increased to 99 percent its
stake in Housing Development Associates S.E. (HDA) as a
result of the redemption by HDA of a 17 percent interest
held by a minority partner. HDA owns the assets of El
Comandante Race Track in Puerto Rico and a 55 percent
interest in Galapagos, S.A., which operates V Centenario
Race Track in the Dominican Republic.
As part of the $4.3 million transaction, the minority
partner, Supra and Company, S.E. (Supra), also dismissed a
lawsuit that named Equus and HDA among the defendants, the
details of which have been included in the company's filings
with the Securities and Exchange Commission.
In addition, Supra canceled certain indebtedness
payable by El Comandante Operating Company (ECOC), the firm
that manages the Puerto Rico race track, which should
improve ECOC's ability to pay outstanding payables to HDA.
# # #
(PAGE) Exhibit 1E
ASSIGNMENT OF PARTNERSHIP INTEREST
FOR VALUE RECEIVED, the undersigned, Supra and Company, S.E.
("Assignor"), hereby grants, assigns and transfers to Housing
Development Associates, S.E., a Puerto Rico special partnership
("HDA") all of its right, title and interest as a partner in and
to
HDA (the "Partnership Interest").
Assignor represents and warrants to HDA (i) that Assignor is
duly authorized and empowered to enter into this Assignment and
that this Assignment is valid and enforceable against Assignor in
accordance with its terms, and (ii) that the assignment and
transfer evidenced hereby does not conflict with any applicable
law
or governmental order, or agreement to which Assignor is a party,
and is otherwise made free and clear of any lien, pledge or
encumbrance in favor of any third party.
Assignor irrevocably constitutes and appoints Equus Gaming
Company, L.P. ("Equus"), in its capacity as managing general
partner of HDA, its true and lawful attorney-in-fact with full
power of substitution, so that Equus may, in the name and stead
of
the Assignor but on behalf, for the benefit, and at the sole cost
and expense of HDA, perform any actions and execute any documents
necessary to effect this Assignment and the transfer of the
Partnership Interest to HDA.
The Assignor does hereby further covenant and agree to
execute, to acknowledge and to deliver, or to cause to be
executed,
acknowledged and delivered, at the sole cost and expense of HDA,
any and all such further acts, deeds, transfers, assginements,
conveyances, confirmations, powers of transfer, powers of
attorney,
assurances, approvals and consents, and do or cause to be done
all
such further acts or things, as HDA shall reasonably require and
as
may be proper and necessary to assure, assign, transfer, convey
or
confirm unto HDA the Partnership Interest in order to effectuate
the intent of this Assignment.
(PAGE)
IN WITNESS WHEREOF, the undersigned has executed this
Assignment of Partnership Interest as of August 19, 1997.
SUPRA & COMPANY, S.E.
By: Supra Development Corp.
its Managing Partner
By: /s/ Ruben Velez Lebron
------------------------
Ruben Velez Lebron
President
Affidavit No. 3945
Recognized and subscribed to before me by Ruben Velez
Lebron,
of legal age, married, and resident of Guaynabo, Puerto Rico, in
his capacity as President of Supra Development Corp., the
Managing
Partner of Supra & Company S.E., to me personally known.
In San Juan, Puerto Rico, this 19th day of August, 1997.
/s/ Julio Aguirre
- -------------------------------
Notary Public
