UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): November 12, 2004
GB HOLDINGS, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 33-69716 75-2502293
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(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification Number)
c/o Sands Hotel & Casino
Indiana Avenue and Brighton Park, 9th Floor
Atlantic City, New Jersey 08401
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(Address of principal executive office) (Zip Code)
Registrant's telephone number including area code: (609) 441-4633
Not Applicable
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(Former name and former address, as changed since last report)
ITEM 8.01 OTHER EVENTS
In a press release, dated November 18, 2004, Atlantic Coast Entertainment
Holdings, Inc. ("Atlantic"), a Delaware corporation (and a wholly-owned
subsidiary of GB Holdings, Inc.), and ACE Gaming, LLC ("ACE"), a New Jersey
limited liability company and a wholly-owned subsidiary of Atlantic, announced
that Atlantic and ACE entered into a senior secured revolving credit facility
providing for working capital loans of up to $10 million, to be used for working
capital purposes in the operation of The Sands Hotel and Casino, located in
Atlantic City, New Jersey. The loan agreement and the loans thereunder have been
designated by the Board of Directors of Atlantic and the Manager of ACE, as
Working Capital Indebtedness (as that term is defined in the Indenture, dated as
of July 22, 2004, among Atlantic, as issuer, ACE, as guarantor, and Wells Fargo
Bank, National Association, as trustee).
The full text of the press release issued by GB Holdings, Inc. on November 18,
2004 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit Description
99.1* Press Release dated November 18, 2004.
*Filed herewith.
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.
GB HOLDINGS, INC.
Dated: November 18, 2004 By: /s/ Patricia M. Wild
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Name: Patricia M. Wild
Title: Vice President, General Counsel
and Secretary