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 30, 1998
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AMERICAN BINGO & GAMING CORP.
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(Exact name of registrant
as specified in its charter)
Delaware 1-13530 74-2723809
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1440 Charleston Highway, West Columbia, South Carolina 29169
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (803) 796-7875
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515 Congress Avenue, Suite 1200, Austin, Texas 78701
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
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On July 1, 1998, the Company announced that arrest warrants had been issued
against Greg Wilson alleging misuse of Company resources during his tenure as
the Chief Executive Officer of the Company. Following the issuance of the
arrest warrants, Mr. Wilson was suspended without pay as an employee of the
Company pending the outcome of the case. Mr. Wilson continues to serve as a
member of the Company's Board of Directors.
The Company has completed the relocation of its corporate headquarters from
Austin, Texas to West Columbia, South Carolina. The Company's corporate
headquarters are now located at 1440 Charleston Highway, West Columbia, South
Carolina 29169. General counsel for the Company is Daniel J. Fritze with Nelson
Mullins Riley & Scarborough, L.L.P. in Columbia, South Carolina.
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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 hereunto duly authorized.
AMERICAN BINGO & GAMING CORP.
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(Registrant)
By: /s/ Andre M. Hilliou
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Name: Andre M. Hilliou
Title: President and Chief Executive Officer
Dated: July 2, 1998
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<PAGE>
INDEX TO EXHIBITS
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Exhibit Sequential
Number Description Page Number
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99 Press Release dated July 1, 1998
<PAGE>
EXHIBIT 99
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AMERICAN BINGO & GAMING CORP.
JULY 1, 1998 - W. COLUMBIA, SOUTH CAROLINA. AMERICAN BINGO & GAMING CORP.
(NASDAQ: BNGO) George Harrison, Jr., Chairman of the Board of American Bingo &
Gaming, announced that following an internal review of company financial
records, arrest warrants were issued against Greg Wilson, alleging misuse of
company resources during his tenure as company CEO. Mr. Wilson served as CEO of
American Bingo & Gaming from 1994 to 1998 and currently occupies a position on
the company's Board of Directors. Because of this action, Mr. Wilson has been
suspended without pay as an employee of the Company, pending the outcome of the
case.
Company financial records have been turned over to the local authorities for
further investigation. Mr. Andre' Hilliou, ABG's Chief Executive Officer, noted
that the financial security of the company has not been threatened by the
alleged financial impropriety. Mr. Hilliou also noted that the action taken
against Mr. Wilson is unfortunate but necessary in order to safeguard the
reputation, integrity and market position of American Bingo & Gaming.
The Company's corporate headquarters is located in W. Columbia, South Carolina.
American Bingo & Gaming Corp. is a market leader in the $14 billion non-casino
gaming market and $6 billion North American charitable bingo market. The Company
generates a majority of its revenues from video gaming operations in South
Carolina and also earns revenues from bingo centers in Texas, Alabama and South
Carolina. Except for historical information contained herein, certain matters
set forth in this press release are forward looking statements that are subject
to substantial risks and uncertainties, including government regulation and
taxation, customer attendance and spending, competition, general economic
conditions, and other risks detailed in the Company's SEC reports.
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CONTACT:
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ANDRE' M. HILLIOU
CHIEF EXECUTIVE OFFICER
(803) 796-7875
www.ambingo.com
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