-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HWxJ+VM9Z25OGlNUMHHK71rCTUFEQMHsheWABY0UngB/zrFqp9pHwSqCyFueIuJK
 aA0nndEgSPDIK8LHrpfPmQ==

<SEC-DOCUMENT>0000950136-04-002293.txt : 20040727
<SEC-HEADER>0000950136-04-002293.hdr.sgml : 20040727
<ACCEPTANCE-DATETIME>20040723162150
ACCESSION NUMBER:		0000950136-04-002293
CONFORMED SUBMISSION TYPE:	425
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20040723
GROUP MEMBERS:		ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC.

FILED BY:		

	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:		425

	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

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GB PROPERTY FUNDING CORP
		CENTRAL INDEX KEY:			0000912906
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				752502290
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		425
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16403
		FILM NUMBER:		04929243

	BUSINESS ADDRESS:	
		STREET 1:		C/O SANDS HOTEL & CASINO
		STREET 2:		136 SOUTH KENTUCKY AVENUE
		CITY:			ATLANTIC CITY
		STATE:			NJ
		ZIP:			08401
		BUSINESS PHONE:		6094414517

	MAIL ADDRESS:	
		STREET 1:		C/O SANDS HOTEL & CASINO
		STREET 2:		136 SOUTH KENTUCKY AVENUE
		CITY:			ATLANTIC CITY
		STATE:			NJ
		ZIP:			08401
</SEC-HEADER>
<DOCUMENT>
<TYPE>425
<SEQUENCE>1
<FILENAME>file001.txt
<DESCRIPTION>RULE 425 COMMUNICATION
<TEXT>
<PAGE>


Filed by: Atlantic Coast Entertainment Holdings, Inc.

Pursuant to Rule 425 under the Securities Act of 1933

Subject Companies: Atlantic Coast Entertainment Holdings, Inc.
Commission File No.: 33-69716

As a result of the consummation of the Consent Solicitation and Offer to
Exchange commenced by Atlantic Coast Entertainment Holdings, Inc. ("Atlantic
Holdings"), a subsidiary of Greate Bay Hotel and Casino, Inc. which is a
subsidiary of GB Holdings, Inc. (Amex: GBH), in which it offered to exchange its
3% Notes due 2008 for the 11% Notes due 2005, issued by GB Property Funding
Corp., $66,258,970 principal amount of 11% Notes, representing 60.2% of the
outstanding 11% Notes, were tendered to Atlantic Holdings. Pursuant to the terms
of the Consent Solicitation and Offer to Exchange, Atlantic Holdings issued, an
aggregate principal amount of $66,258,970 3% Notes, pro rata, to the holders of
11% Notes that tendered in the Consent Solicitation and Offer to Exchange.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----