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UNITED STATES
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) December 15, 1999
BLACK HAWK GAMING & DEVELOPMENT COMPANY, INC.
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(Exact name of registrant as specified in its charter)
Colorado 0-21736 84-1158484
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
240 Main Street
Post Office Box 21
Black Hawk, Colorado 80422
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 582-1117
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No Change
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Former name or former address if changed since date of last filing
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Item 5. Other Events.
On December 7, 1999 the Board of Directors of Black Hawk Gaming &
Development Company, Inc. ("Company") adopted an amendment in the form attached
hereto to modify the Understanding as to Joint Venture Agreement dated November
12, 1996 ("Understanding").
The Understanding required the Company to offer a participation of up
to 49% to Diversified Opportunities Group Ltd. ("DOGL") in any gaming
opportunity undertaken by the Company. DOGL is an affiliate of Jeffrey P.
Jacobs, the Company's Chairman, Chief Executive Officer and largest beneficial
shareholder. That right of participation has been terminated, although DOGL must
continue to offer a 51% participation to the Company in gaming opportunities
undertaken by DOGL, except slot or video poker routes (including those in
restaurants, grocery stores and truck stops) or in the business of wagering
related to a pari-mutuel license, whether at live tracks, by satellite or
otherwise.
Finally, the amendment provides that the Company's right to participate
in DOGL's gaming opportunities not excepted above will terminate one year after
Jeffrey P. Jacobs ceases to be an officer and director of the Company and ceases
to own beneficially sufficient shares of the Company to elect a majority of its
directors.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements None
(b) Exhibits Amendment No. 1 to Understanding as to
Joint Venture Agreement
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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 thereunto duly authorized.
BLACK HAWK GAMING & DEVELOPMENT
COMPANY, INC.
By: /s/ Stephen R. Roark
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Stephen R. Roark, President
Date: December 16, 1999
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