ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC.

0000950123-05-011795.txt : 20051004 0000950123-05-011795.hdr.sgml : 20051004 20051003182445 ACCESSION NUMBER: 0000950123-05-011795 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050929 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051004 DATE AS OF CHANGE: 20051003 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTIC COAST ENTERTAINMENT HOLDINGS INC CENTRAL INDEX KEY: 0001269977 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 542131349 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-110484 FILM NUMBER: 051118995 BUSINESS ADDRESS: STREET 1: C/O SANDS HOTEL & CASINO STREET 2: INDIANA AVE & BRIGHTON PARK CITY: ATLANTIC CITY STATE: NJ ZIP: 08401 BUSINESS PHONE: 6094414000 8-K 1 y13325e8vk.htm ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC. ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

September 29, 2005

Date of report (date of earliest event reported)

ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC.

(Exact name of registrant as specified in its charter)


Delaware	333-110484	54-2131349
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

c/o Sands Hotel & Casino
Indiana Avenue & Brighton Park, 9th Floor
Atlantic City, New Jersey 08401

(Address of principal executive offices)(Zip code)

(609) 441-4000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 – Other Events

Item 8.01 Other Events.

On September 29, 2005, Atlantic Coast Entertainment Holdings, Inc. issued a press release, a copy of which is attached as Exhibit 99.1.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

99.1 Press Release, dated September 29, 2005.

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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.


	Atlantic Coast Entertainment Holdings, Inc.

Dated: October 3, 2005		By:	/s/ Denise Barton

			Denise Barton
			Chief Financial Officer

Exhibit Index

99.1 Press Release, dated September 29, 2005.

EX-99.1 2 y13325exv99w1.htm EX-99.1: PRESS RELEASE EXHIBIT 99.1

Exhibit 99.1

CONTACT: Richard Brown
Atlantic Coast Entertainment Holdings, Inc.
Atlantic City, New Jersey
609-441-4534

FOR IMMEDIATE RELEASE

MINORITY STOCKHOLDER OF ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC. FILES FOR CHAPTER 11 REORGANIZATION

Atlantic City, New Jersey, September 29, 2005 - GB Holdings, Inc., a minority stockholder of Atlantic Coast Entertainment Holdings, Inc., today filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. GB Holdings has stated that it does not currently have the capital necessary to pay its 11% Notes that come due today. GB Holdings holds a 28% common stock interest (fully diluted) in Atlantic Coast Entertainment Holdings.

The bankruptcy of GB Holdings, while significant to the stockholders and noteholders of GB Holdings, is irrelevant to Atlantic Coast Entertainment Holdings, which owns and operates The Sands Hotel and Casino in Atlantic City, New Jersey. As a minority stockholder in Atlantic, GB Holdings’ bankruptcy will in no way affect the operation or business decisions of The Sands. As a result of an exchange offer conducted last year and prior conversions of debt to common stock, The Sands is fiscally sound with very little debt and a positive net worth of $143 million, as of June 30, 2005. The Sands can, and will, move forward with its current operations and its anticipated plans for an even greater presence in Atlantic City and is planning an expansion program to add up to 1,000 rooms to its facilities.

This press release is for informational purpose only. This press release may contain statements that are forward-looking. Such forward looking statements involve important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Atlantic Coast Entertainment Holdings. For more information regarding Atlantic Coast Entertainment Holdings and risks applicable to their business, please review the filings of Atlantic Coast Entertainment Holdings with the Securities and Exchange Commission, including the reports on Forms 10-K and 10-Q.