EXHIBIT 25.1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF
A CORPORATION DESIGNATED TO ACT AS TRUSTEE
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CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY
OF A TRUSTEE PURSUANT TO SECTION 305(B)(2)
U.S. TRUST COMPANY, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
95-4311476
(I.R.S. employer
Identification No.)
515 South Flower Street, Suite 2700
Los Angeles, CA 90071
(Address of principal (Zip Code)
executive offices)
KAREN YAMAMOTO
515 South Flower Street, Suite 2700
Los Angeles, California 90071
(213) 861-5000
(Name, address, including zip code and telephone number of agent for service)
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ANCHOR GAMING
(Exact name of obligor as specified in its charter)
NEVADA 88-0304253
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
815 Pilot Road, Suite G
Las Vegas, Nevada 89119
(Address of principal chief executive offices)
9.875% Senior Subordinated Notes due 2008
(Title of indenture securities)
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
490 L'Enfant Plaza East, S.W.
Washington, D.C. 20219
Federal Deposit Insurance Corporation
550 17th Street, N.W.
Washington, D.C. 20429
Federal Reserve Bank (12th District)
San Francisco, California
(b) Whether it is authorized to exercise corporate trust powers.
The trustee is authorized to exercise corporate trust powers.
2. AFFILIATIONS WITH THE OBLIGOR
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None.
3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15.
The obligor currently is not in default under any of its outstanding
securities for which U.S. Trust Company, National Association is Trustee.
Accordingly, responses to Items 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15
of Form T-1 are not required under General Instruction B.
16. LIST OF EXHIBITS
T-1.1 - A copy of the Articles of Association of U.S. Trust Company,
National Association currently in effect; incorporated herein by reference to
Exhibit T-1.1 filed with Form T-1 Statement, Registration No. 333-59485.
T-1.2 - A copy of the certificate of authority of the trustee to commence
business, if not contained in the articles of association, incorporated herein
by reference to Exhibit T-1.1 filed with Form T-1 Statement, Registration No.
33-33031.
T-1.3 - A copy of the authorization of the trustee to exercise corporate
trust powers, if such authorization is not contained in the documents specified
in paragraph (1) or (2) above, incorporated herein by reference to Exhibit T-1.1
filed with Form T-1 Statement, Registration No. 33-33031.
T-1.4 - A copy of the By-Laws of U.S. Trust Company, National Association,
as amended to date; incorporated by reference to Exhibit T-1.4 filed with Form
T-1 Statement, Registration No. 33-54136.
T-1.6 - The consent of the trustee required by Section 321(b) of the Trust
Indenture Act of 1939; incorporated herein by reference to Exhibit T-1.6 filed
with Form T-1 Statement, Registration No. 33-33031.
T-1.7 - A copy of the latest report of condition of the trustee published
pursuant to law or the requirements of its supervising or examining authority
T-1.8 - Not applicable.
T-1.9 - Not applicable.
NOTE
As of November 21, 2000, the Trustee had 20,000 shares of Capital Stock
outstanding, all of which are owned by U.S. Trust Corporation.
The responses to Items 2, 5, 6, 7, 8, 9, 10, 11 and 14 set forth the information
requested as though U. S. Trust Company, National Association and U.S. Trust
Corporation were the "trustee."
In answering Item 2 in this statement of eligibility as to matters peculiarly
within the knowledge of the obligor or its directors, the trustee has relied
upon information furnished to it by the obligor and will rely on information to
be furnished by the obligor and the trustee disclaims responsibility for the
accuracy or completeness of such information.
Pursuant to the requirements of the Trust Indenture of Act of 1939, the trustee,
U.S. Trust Company, National Association, a corporation organized and existing
under the laws of the State of California, has duly caused this statement of
eligibility and qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the City of Los Angeles, and State of
California, on the 21st day of November, 2000.
U.S. TRUST COMPANY, NATIONAL ASSOCIATION
Trustee
By: /s/ SANDEE PARKS
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Sandee Parks
Authorized Signatory
U.S. TRUST COMPANY, N.A. Call Date: 09/30/00 ST-BK: 06-0784 FFIEC 033
515 SOUTH FLOWER STREET, SUITE 2700 Vendor ID: D Cert #: 33332 Page RC-1
LOS ANGELES, CA 90071 Transit #: 12204024
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CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR SEPTEMBER, 30, 2000
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
SCHEDULE RC - BALANCE SHEET
C300
DOLLAR AMOUNTS IN THOUSANDS
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ASSETS
1. Cash and balances due from depository institutions (from Schedule RC-A)
a. Noninterest-bearing balances and currency and coin RCON
(1)____________________________________________________________________ 0081 15,189 1.a
----- ------- -------
b. Interest bearing balances
(2)____________________________________________________________________ 0071 147 1.b
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2. Securities:
a. Held-to-maturity securities (from Schedule RC-B,
column A)__________________________________________________________ 1754 0 2.a
----- ------- -------
b. Available-for-sale securities (from Schedule RC-B,
column D)__________________________________________________________ 1773 171,391 2.b
----- ------- -------
3. Federal funds sold and securities purchased under agreements to
resell_________________________________________________________________ 1350 62,000 3.
----- ------- -------
4. Loans and lease financing receivables: RCON
a. Loans and leases, net of unearned income (from Schedule ----
RC-C)______________________________________________________________ 2122 138,839 4.a
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b. LESS: Allowance for loan and lease
losses_____________________________________________________________ 3123 1,110 4.b
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c. LESS: Allocated transfer risk
reserve____________________________________________________________ 3128 0 4.c
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RCON
d. Loans and leases, net of unearned income, allowance, and reserve ----
(item 4.a minus 4.b and 4.c)_______________________________________ 2125 137,729 4.d
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5. Trading assets_________________________________________________________ 3545 0 5.
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6. Premises and fixed assets (including capitalized
leases)________________________________________________________________ 2145 11,951 6.
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7. Other real estate owned (from Schedule RC-M)___________________________ 2150 0 7.
----- ------- -------
8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M)___________________________________________________ 2130 0 8.
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9. Customers' liability to this bank on acceptances
outstanding____________________________________________________________ 2155 0 9.
----- ------- -------
10. Intangible assets (from Schedule RC-M)_________________________________ 2143 48,379 10.
----- ------- -------
11. Other assets (from Schedule RC-F)_______________________________________ 2160 28,075 11.
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12. Total assets (sum of items 1 through 11)________________________________ 2170 474,861 12.
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(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
U.S. TRUST COMPANY, N.A. Call Date: 09/30/00 ST-BK: 06-0784 FFIEC 033
515 SOUTH FLOWER STREET, SUITE 2700 Vendor ID: D Cert #: 33332 Page RC-2
LOS ANGELES, CA 90071 Transit #: 12204024
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SCHEDULE RC - CONTINUED
DOLLAR AMOUNTS IN THOUSANDS
- ----------------------------------------------------------------------------------------------------------------------------
LIABILITIES
13. Deposits: RCON
a. In domestic offices (sum of totals of ----
columns A and C from Schedule RC-E)________________________________ 2200 381,105 13.a
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RCON
----
(1) Noninterest-bearing (1)______________________________________ 6631 34,962 13.a.1
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(2) Interest-bearing_____________________________________________ 6636 346,143
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b. In foreign offices, Edge and Agreement subsidiaries, and IBFs
(1) Noninterest-bearing__________________________________________
(2) Interest-bearing_____________________________________________
RCON
14. Federal funds purchased(2) and securities sold under agreements to ---- 0 14
repurchase: 2800
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15. a. Demand notes issued to the U.S. Treasury___________________________ 2840 0 15.a
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b. Trading liabilities________________________________________________ 3548 0 15.b
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16. Other borrowed money (includes mortgage indebtedness and obligations
under capitalized leases):
a. WITH A REMAINING MATURITY OF ONE YEAR OR LESS______________________ 2332 0 16.a
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b. WITH A REMAINING MATURITY OF MORE THAN ONE YEAR THROUGH
THREE YEARS________________________________________________________ A547 0 16.b
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c. WITH A REMAINING MATURITY OF MORE THAN THREE YEARS_________________ A548 0 16.c
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17. Not applicable
18. Bank's liability on acceptances executed and
outstanding____________________________________________________________ 2920 0 18.
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19. Subordinated notes and debentures______________________________________ 3200 0 19.
----- ------- -------
20. Other liabilities (from Schedule RC-G)_________________________________ 2930 17,681 20.
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21. Total liabilities (sum of items 13 through 20)_________________________ 2948 398,786 21.
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22. Not applicable
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus__________________________ 3838 5,000 23.
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24. Common stock__________________________________________________________ 3230 2,010 24.
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25. Surplus (exclude all surplus related to preferred
stock)_________________________________________________________________ 3839 40,076 25.
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26. a. Undivided profits and capital reserves_____________________________ 3632 29,256 26.a
----- ------- -------
b. Net unrealized holding gains (losses) on available-for-sale
securities_________________________________________________________ 8434 (267) 26.b
----- ------- -------
27. Cumulative foreign currency translation adjustments____________________
28. a. Total equity capital (sum of items 23 through 27)__________________ 3210 76,075 28.
----- ------- -------
29. Total liabilities and equity capital (sum of items
21 and 28)_____________________________________________________________ 3300 474,861 29.
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MEMORANDUM
TO BE REPORTED ONLY WITH THE MARCH REPORT OF CONDITION.
1. Indicate in the box at the right the number of the statement below that
best describes the most comprehensive level of auditing work performed for RCON
the bank by independent external auditors as of ----
any date during 1997______________________________________________________ 6724 N/A M.1
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1 = Independent audit of the bank conducted in accordance
with generally accepted auditing standards by certified
public accounting firm which submits a report on the bank
2 = Independent audit of the bank's parent holding company
conducted in accordance with generally accepted auditing
standards by a certified public accounting firm which
submits a report on the consolidated holding company (but
not on the bank separately)
3 = Directors' examination of the bank conducted in accordance
with generally accepted auditing standards by a certified
public accounting firm (may be required by state chartering
authority)
4 = Directors' examination of the bank performed by other
external auditors (may be required by state chartering
authority)
5 = Review of the bank's financial statements by external
auditors
6 = Compilation of the bank's financial statements by
external auditors
7 = Other audit procedures (excluding tax preparation
work)
8 = No external audit work
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(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Includes limited life preferred stock and related surplus.