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: MAY 4, 1998
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AMERICAN BINGO & GAMING CORP.
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(Exact name of small business issuer as specified in its charter)
DELAWARE 1-13530 74-2723809
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(State or other jurisdiction of Commission (I.R.S. Employer
incorporation or organization) File Number Identification No.)
515 CONGRESS AVENUE, SUITE 1200, AUSTIN, TEXAS 78701
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(Address of principal executive offices)
(512) 472-2041
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(Registrant's telephone number)
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ITEM 5. OTHER EVENTS
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MANAGEMENT
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On April 30, 1998 the Company formally hired Mr. Andre Hilliou as Chief
Executive Officer pursuant to a three-year employment agreement. He will also
serve on the Company's Board of Directors. Mr. Hilliou, age 50, has over 28
years of experience in the gaming industry. From 1996 to 1997, Mr. Hilliou
served as Chief Executive Officer of Aristocrat Inc., the world's second largest
manufacturer and distributor of slot machines and gaming systems. From 1987 to
1996, Mr. Hilliou served as Chief Executive Officer of Showboat Inc.'s Sydney,
Australia's casino subsidiary and as Senior Vice President of Operations of
Showboat's Casino Hotel in Atlantic City, New Jersey. Showboat is a New York
Stock Exchange-listed international casino hotel operator. Previously, Mr.
Hilliou served as a Vice President for the Golden Nugget Casino Hotel in
Atlantic City, New Jersey. Mr. Hilliou received his undergraduate degree in
Hotel and Restaurant Administration in Quimper, France in 1968.
Mr. Hilliou replaces George M. Harrison, Jr., who had been acting in that
capacity on an interim basis. Mr. Harrison will remain as Chairman of the Board
and manager of video gaming route operations.
ACQUISITIONS
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On April 29, 1998 the Company terminated a Stock Purchase Agreement with Bingo &
Gaming International. The Company had intended to acquire certain charitable
bingo centers in Mississippi under these agreements. The Company terminated
these agreements because it was uncertain whether it would be able to receive
approval from the Mississippi Gaming Commission to continue to charge rent at
levels that would enable the Company to earn a fair profit on its proposed
investment.
ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS.
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On April 28, 1998 the Company's Board of Directors accepted the resignation of
Mr. Jeffrey Gilbert as a Director. Mr. Gilbert resigned in order to accommodate
a request of the Company's new Chief Executive Officer to create a vacancy on
the Board for subsequent appointments. There were no disagreements between the
Company and Mr. Gilbert.
SIGNATURE
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.
(Registrant)
May 4, 1998 By: /s/ George M. Harrison, Jr.
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George M. Harrison, Jr., Chairman
