| Jubilee Gaming Enterprises, Inc. | |||
| Proposed Ticker: | JUBE | 9855 West 78th Street, Suite 220 | |
| Exchange: | NASDAQ-Small Cap Market | Minneapolis, MN 55344 | |
| Industry: | Service (SIC Code 7993) | (612) 944-5700 | |
| Type of Shares: | Common Shares | Filing Date: | 1/17/97 | |
| U.S. Shares Filed: | 1,200,000 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $6,000,000 | |
| Primary Shares: | 1,200,000 | Expenses: | $430,000 | |
| Secondary Shares: | 0 | Shares Out After: | 2,823,611 |
| Manager | Tier | Phone |
| H.J. Meyers & Company, Incorporated | Lead Manager | (212) 298-8942 |
| Issuer's Law Firm: | Briggs and Morgan |
| Bank's Law Firm: | Morse, Zelnick, Rose & Lander, LLP |
| Auditor: | Schechter Dokken Kanter Andrews & Selcer |
| Registrar/Transfer Agent: | Norwest Bank of Minnesota |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/96 | |||
| Revenue: | $3.00 | $2.61 | Assets: | $7.38 | |
| Net Income: | -$1.36 | -$0.59 | Curr Assets: | ||
| EPS: | -$0.83 | -$0.36 | Liabilities: | $5.52 | |
| Prior EPS: | $0.02 | -$0.16 | Curr Liabilities: | ||
| Cash Flow/Oper: | -$0.16 | Equity: | $1.86 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company operates the Jubilee Casino in Cripple Creek, Colorado, one of three cities in Colorado permitted to have limited stakes gaming. In April 1996, the company acquired the Jubilee by purchasing substantially all of the interests in the 353 Myers Avenues Limited Partnership, which owns and operates the Jubilee. The company's management has experience in planning and financing gaming operations, and its major stockholder, National Lodging Companies, Inc., is a hotel development and management company. Over the past four years annual adjusted gross proceeds in Cripple Creek has doubled from $45.5 million to $91 million. The company plans to position itself to capitalize on this growth. The company's business strategy is to substantially enlarge the Casino and build an adjoining hotel to create a resort type gaming destination. The company has acquired real estate in order to expand the gaming floor, add a restaurant, a 145-room hotel and additional convenient parking. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to expand the Jubilee Casino Hotel, repayment of advances from National Lodging, the company's parent, and working capital. |