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 (Date of earliest event reported): April 1, 2002
Dover Downs Gaming & Entertainment, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number 1-16791
Delaware 51-0414140
(State or other jurisdiction of incorporation) (IRS Employer Identification No.)
1131 N. DuPont Highway
Dover, Delaware 19901
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (302) 674-4600
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events.
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Following is the text of a press release jointly issued by the Company and Dover
Motorsports, Inc. on April 1, 2002:
"Dover Motorsports, Inc., formerly known as Dover Downs Entertainment, Inc.
(NYSE: Symbol - DVD), announced today that it had completed the previously
announced tax-free spin-off of its gaming business. Effective today, the Company
will be known as Dover Motorsports, Inc. reflecting its focus on motorsports
activities. It will continue to trade on the New York Stock Exchange under its
existing symbol "DVD."
As a result of the spin-off, the gaming business of Dover Motorsports, Inc. has
been transferred to Dover Downs Gaming & Entertainment, Inc. (NYSE: Symbol -
DDE). Effective today, shares of Dover Downs Gaming & Entertainment, Inc. will
trade on the New York Stock Exchange under the symbol "DDE."
Dover Downs Gaming & Entertainment, Inc. has an effective registration statement
on Form 10 on file with the Securities and Exchange Commission. The information
statement filed as an exhibit to that registration statement describes the
mechanics of the distribution of Dover Downs Gaming & Entertainment, Inc. shares
and contains important financial and other information concerning the new
company.
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This release contains or may contain forward-looking statements based on
management's beliefs and assumptions. Such statements are subject to various
risks and uncertainties which could cause results to vary materially. Please
refer to each company's SEC filings for a discussion of such factors.
Dover Motorsports, Inc. is a leading promoter of motorsports events in the
United States. Its motorsports subsidiaries operate seven motorsports tracks
(four permanent facilities and three temporary circuits) in six states and
promote motorsports events under the auspices of four of the premier sanctioning
bodies in motorsports - NASCAR, CART, IRL and NHRA. The Company owns and
operates Dover International Speedway in Dover, DE; the new Nashville
Superspeedway near Nashville, TN; Gateway International Raceway near St. Louis,
MO; and Memphis Motorsports Park near Memphis, TN. It also organizes and
promotes the Toyota Grand Prix of Long Beach in California, the Grand Prix of
Denver in Colorado and the Grand Prix of St. Petersburg in Florida.
Dover Downs Gaming & Entertainment, Inc. is a diversified gaming and
entertainment company whose operations consist of Dover Downs Slots - an 80,000
square foot video lottery (slots) casino complex; the Dover Downs Hotel and
Conference Center - featuring luxury accommodations with conference, banquet,
fine dining, ballroom and concert hall facilities; and the Dover Downs Raceway -
a harness racing track with pari-mutuel wagering on live and simulcast horse
races."
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.
Dover Downs Gaming & Entertainment, Inc.
/s/ Denis McGlynn
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Denis McGlynn
President and Chief Executive Officer
Dated: April 1, 2002
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