BALLY ENTERTAINMENT CORP
T-3/A, 1995-07-03
MISCELLANEOUS AMUSEMENT & RECREATION
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<PAGE>   1





                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                 ______________

   
                                   FORM T-3/A
    
                                 ______________


                FOR APPLICATIONS FOR QUALIFICATION OF INDENTURES
                       UNDER TRUST INDENTURE ACT OF 1939



                        BALLY ENTERTAINMENT CORPORATION
                              (Name of Applicant)

                           8700 West Bryn Mawr Avenue
                          Chicago, Illinois 60631-3547
                    (Address of principal executive office)


           SECURITIES TO BE ISSUED UNDER THE INDENTURE TO BE QUALIFIED


         TITLE OF CLASS                             AMOUNT

      8% Convertible Senior                Up to aggregate principal
     Subordinated Debentures                amount of $15,390,000


Approximate date of proposed public offering:  June 7, 1995


Name and address of agent for service:             With a copy to:

Carol Stone DePaul                                 Mark D. Gerstein
Bally Entertainment Corporation                    Katten Muchin & Zavis
8700 West Bryn Mawr Avenue                         525 West Monroe Street, #1600
Chicago, Illinois  60631-3547                      Chicago, Illinois  60661-3693
                                                       
<PAGE>   2

10.      CONTENTS OF APPLICATION FOR QUALIFICATION.
         This application for qualification comprises:

         (a)     Pages numbered 1 through 7 consecutively.

   
         (b)     A statement of eligibility and qualification of the New
                 Trustee on Form T-1, as amended.
    

         (c)     The following exhibits are in addition to those to be filed 
                 as part of the statement of eligibility and qualification of 
                 the New Trustee:
   
<TABLE>
<S>              <C>             <C>
                 T3A**           Restated Certificate of Incorporation, as amended, of Bally Entertainment
                                 Corporation, is incorporated herein by reference to the Company's
                                 Registration Statement on Form S-8 dated December 13, 1994, registration
                                 no. 33-56831.

                 T3B**           By-laws of Bally Entertainment Corporation, as amended, are incorporated
                                 herein by reference to the Company's Annual Report on Form 10-K, file no.
                                 1-7244, for the year ended December 31, 1992.

                 T3C*            Form of Indenture to be entered into between Bally Entertainment
                                 Corporation and First Bank National Association, as Trustee, relating to
                                 the New Debentures.

                 T3E.1*          Form of Offering Circular and Consent Solicitation dated June 7, 1995.

                 T3E.2*          Letter of Transmittal and Consent.

                 T3E.3*          Notice of Guaranteed Delivery.

                 T3E.4*          Letter to brokers.

                 T3E.5*          Letter from brokers to clients.

                 T3E.6*          Guidelines for Certification of Taxpayer Identification Number on
                                 Substitute Form W-9.

                 T3F*            Cross reference sheet (included as part of Exhibit T3C).

                 ------------------               
</TABLE>
    

   
                   * Previously filed.
    
   
                  ** Incorporated by reference to the filing indicated.
    
<PAGE>   3

                                   SIGNATURE
   
         Pursuant to the requirements of the Trust Indenture Act of 1939, the
applicant, Bally Entertainment Corporation, a corporation organized and
existing under the laws of Delaware, has duly caused this application to be
signed on its behalf by the undersigned, thereunto duly authorized, and its
seal to be hereunto affixed and attested, all in the City of Chicago, and State
of Illinois, on the 30th day of June, 1995.
    


                                                 BALLY ENTERTAINMENT CORPORATION

   
                                                 By: Lee S. Hillman
    
                                                    --------------------------
                                                     a duly authorized signatory

Attest:

   
By: Carol Stone DePaul
    
    -----------------------------
    a duly authorized signatory











<PAGE>   4





                       SECURITIES AND EXCHANGE COMMISSION



                             WASHINGTON, D.C. 20549



                                   __________

                                    FORM T-1
                                   AS AMENDED
              Statement of Eligibility and Qualification Under the
                  Trust Indenture Act of 1939 of a Corporation
                          Designated to Act as Trustee


                        FIRST BANK NATIONAL ASSOCIATION
              (Exact name of Trustee as specified in its charter)

     United States                                                41-0256895 
(State of Incorporation)                                       (I.R.S. Employer
                                                             Identification No.)

         First Trust Center
         180 East Fifth Street
         St. Paul, Minnesota                                          55101
(Address of Principal Executive Offices)                           (Zip Code)



                        BALLY ENTERTAINMENT CORPORATION
             (Exact name of registrant as specified in its charter)

         Delaware                                                 36-2512405 
(State of Incorporation)                                       (I.R.S. Employer
                                                             Identification No.)
         8700 West Bryn Mawr Avenue
         Chicago, Illinois                                            60631
(Address of Principal Executive Offices)                           (Zip Code)



      8% CONVERTIBLE SENIOR SUBORDINATED DEBENTURES DUE DECEMBER 15, 2000
                      (Title of the Indenture Securities)
<PAGE>   5
                                    GENERAL

1.    General Information   Furnish the following information as to the Trustee.

      (a)    Name and address of each examining or supervising authority to
             which it is subject.

                 Comptroller of the Currency
                 Washington, D.C.

      (b)    Whether it is authorized to exercise corporate trust powers.

                 Yes

2.    AFFILIATIONS WITH OBLIGOR AND UNDERWRITERS  If the obligor or any
      underwriter for the obligor is an affiliate of the Trustee, describe each
      such affiliation.

                 None

      See Note following Item 16.

      Items 3-15 are not applicable because to the best of the Trustee's
      knowledge the obligor is not in default under any Indenture for which the
      Trustee acts as Trustee.

   
16.   LIST OF EXHIBITS  List below all exhibits filed as a part of this
      statement of eligibility and qualification.  Each of the exhibits listed
      below is incorporated by reference from a previous registration numbered
      33-90786.
    

      1.     Copy of Articles of Association.

      2.     Copy of Certificate of Authority to Commence Business.

      3.     Authorization of the Trustee to exercise corporate trust powers
             (included in Exhibits 1 and 2; no separate instrument).

      4.     Copy of existing By-Laws.

      5.     Copy of each Indenture referred to in Item 4.  N/A.

      6.     The consents of the Trustee required by Section 321(b) of the
             act.

      7.     Copy of the latest report of condition of the Trustee published
             pursuant to law or the requirements of its supervising or
             examining authority.

<PAGE>   6



                                      NOTE

         The answers to this statement insofar as such answers relate to what
persons have been underwriters for any securities of the obligors within three
years prior to the date of filing this statement, or what persons are owners of
10% or more of the voting securities of the obligors, or affiliates, are based
upon information furnished to the Trustee by the obligors.  While the Trustee
has no reason to doubt the accuracy of any such information, it cannot accept
any responsibility therefor.


                                   SIGNATURE

         Pursuant to the requirements of the Trust Indenture Act of 1939, the
Trustee, First Bank National Association, an Association organized and existing
under the laws of the United States, has duly caused this statement of
eligibility and qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, and its seal to be hereunto affixed and attested,
all in the City of Saint Paul and State of Minnesota on the 23rd day of June,
1995.

                                                 FIRST BANK NATIONAL ASSOCIATION
[SEAL]

                                                 /s/R. Prokosch
                                                 ----------------
                                                 Richard Prokosch
                                                 Trust Officer


/s/T. Wirt
- -------------------
T. Wirt
Assistant Secretary
<PAGE>   7
                                                                       EXHIBIT 6

                                    CONSENT

         In accordance with Section 321(b) of the Trust Indenture Act of 1939,
the undersigned, FIRST BANK NATIONAL ASSOCIATION hereby consents that reports
of examination of the undersigned by Federal, State, Territorial or District
authorities may be furnished by such authorities to the Securities and Exchange
Commission upon its request therefor.


Dated:  June 23, 1995

                                                 FIRST BANK NATIONAL ASSOCIATION

                                                 /s/ R. Proskosch
                                                 ----------------
                                                 Richard Prokosch
                                                 Trust Officer



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