SC 13D/A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE
13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 11)*
MTR GAMING
GROUP, INC.
(Name of Issuer)
Common Stock, par value of $.00001
(Title of Class of Securities)
553769100
(CUSIP Number)
Stephen R. Roark
Jacobs Entertainment, Inc.
17301 West Colfax Avenue, Suite 250
Golden, Colorado 80401
303.215.5201
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
May 6, 2013
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
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The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information
required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes).
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| (1) |
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Names of reporting persons Jeffrey P. Jacobs |
| (2) |
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Check the appropriate box if a
member of a group (see instructions)
(a) x (b) ¨ |
| (3) |
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SEC use only
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| (4) |
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Source of funds (see
instructions) PF |
| (5) |
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Check if disclosure of legal
proceedings is required pursuant to Items 2(d) or 2(e) |
| (6) |
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Citizenship or place of
organization U.S.A. |
| Number of
shares
beneficially
owned by
each
reporting
person
with: |
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(7) |
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Sole voting power
5,066,233 |
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(8) |
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Shared voting power
-0- (See Item 5) |
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(9) |
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Sole dispositive power
5,066,233 |
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(10) |
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Shared dispositive power
-0- (See Item 5) |
| (11) |
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Aggregate amount beneficially owned by each reporting person
5,066,233 |
| (12) |
|
Check if the aggregate amount in
Row (11) excludes certain shares (see instructions) |
| (13) |
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Percent of class represented by
amount in Row (11) 18.3% |
| (14) |
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Type of reporting person (see
instructions) IN |
2
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| (1) |
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Names of reporting persons The Jeffrey P. Jacobs Revocable Trust dated July 10, 2000 |
| (2) |
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Check the appropriate box if a
member of a group (see instructions)
(a) x (b) ¨ |
| (3) |
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SEC use only
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| (4) |
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Source of funds (see
instructions) OO |
| (5) |
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Check if disclosure of legal
proceedings is required pursuant to Items 2(d) or 2(e) |
| (6) |
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Citizenship or place of
organization Ohio |
| Number of
shares
beneficially
owned by
each
reporting
person
with: |
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(7) |
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Sole voting power
-0- |
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(8) |
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Shared voting power
-0- |
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(9) |
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Sole dispositive power
-0- |
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(10) |
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Shared dispositive power
-0- |
| (11) |
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Aggregate amount beneficially owned by each reporting person
2,763,699 |
| (12) |
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Check if the aggregate amount in
Row (11) excludes certain shares (see instructions) |
| (13) |
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Percent of class represented by
amount in Row (11) 10.0% |
| (14) |
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Type of reporting person (see
instructions) 00(1) |
3
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| (1) |
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Names of reporting persons Jacobs Entertainment, Inc., #34-1959351 |
| (2) |
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Check the appropriate box if a
member of a group (see instructions)
(a) x (b) ¨ |
| (3) |
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SEC use only
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| (4) |
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Source of funds (see
instructions) WC; BK |
| (5) |
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Check if disclosure of legal
proceedings is required pursuant to Items 2(d) or 2(e) |
| (6) |
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Citizenship or place of
organization Delaware |
| Number of
shares
beneficially
owned by
each
reporting
person
with: |
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(7) |
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Sole voting power
-0- |
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(8) |
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Shared voting power
-0- |
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(9) |
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Sole dispositive power
-0- |
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(10) |
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Shared dispositive power
-0- |
| (11) |
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Aggregate amount beneficially owned by each reporting person
813,618 |
| (12) |
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Check if the aggregate amount in
Row (11) excludes certain shares (see instructions) |
| (13) |
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Percent of class represented by
amount in Row (11) 2.9% |
| (14) |
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Type of reporting person (see
instructions) CO |
4
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| (1) |
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Names of reporting persons Gameco Holdings, Inc., #34-1962581 |
| (2) |
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Check the appropriate box if a
member of a group (see instructions)
(a) x (b) ¨ |
| (3) |
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SEC use only
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| (4) |
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Source of funds (see
instructions) BK |
| (5) |
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Check if disclosure of legal
proceedings is required pursuant to Items 2(d) or 2(e) |
| (6) |
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Citizenship or place of
organization Delaware |
| Number of
shares
beneficially
owned by
each
reporting
person
with: |
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(7) |
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Sole voting power
-0- |
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(8) |
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Shared voting power
-0- |
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(9) |
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Sole dispositive power
-0- |
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(10) |
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Shared dispositive power
-0- |
| (11) |
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Aggregate amount beneficially owned by each reporting person
1,213,936 |
| (12) |
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Check if the aggregate amount in
Row (11) excludes certain shares (see instructions) |
| (13) |
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Percent of class represented by
amount in Row (11) 4.4% |
| (14) |
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Type of reporting person (see
instructions) CO |
5
Purpose of Amendment
Summary of Ownership
The following shows the breakdown of the Reporting Persons’ direct ownership of the Issuer’s shares:
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| Name |
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Number
of
Shares |
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| Jeffrey P. Jacobs |
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274,980 |
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| The Jeffrey P. Jacobs Revocable Trust |
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2,763,699 |
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| Jacobs Entertainment, Inc. |
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813,618 |
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| Gameco Holdings, Inc. |
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1,213,936 |
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5,066,233 |
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The purpose of this amendment is to expand the Reporting Persons disclosures under Item 4. Other
information regarding the Reporting Persons and their purchases of the Issuer’s common stock remain true and correct and can be found in the initial Schedule 13D filed by the Reporting Persons on November 9, 2006 (the “Initial
Filing”) as amended by Amendments 1 through 10 thereto incorporated herein by this reference.
Item 4. Purpose of
Transaction.
As previously reported in the Initial Filing and amendments thereto, the Reporting Persons acquired shares of
the Issuer because they believed the shares presented an attractive investment opportunity to achieve capital appreciation.
The Reporting Persons continuously analyze the operations, capital structure, and markets of companies in which they invest, including
the Issuer, through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies. As a result of these activities, the Reporting Person(s) may participate in interviews or
hold discussions with third parties or with management of the Issuer in which the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management, or capital structure of the Issuer as a means of
enhancing shareholder value.
The Reporting Persons may also wish to discuss with Issuer’s management, Board,
shareholders or third parties the potential for mutually beneficial relationships between Jacobs Entertainment, Inc. and the Issuer. Such discussions may relate to one or more of the transactions described in Item 4(a) through
(j) of Schedule 13D under Rule 13d-1(a), including, without limitation, such matters as disposing of one or more businesses; selling the Issuer or causing it to acquire another company or business; changing its operating or marketing
strategies; waiving, adopting, not adopting, modifying, or eliminating certain types of anti-takeover measures; restructuring the Issuer’s capitalization; reviewing its dividend and compensation policies; entering into agreements with third
parties relating to business combinations or acquisitions of securities issued or to be issued by the Issuer; entering into agreements with the management of the Issuer relating to acquisitions of shares of the Issuer, issuance of options to
management, or their employment by the Issuer.
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Based on the Reporting Persons’ continuous analysis of the Issuer’s operations
and financial position, the Reporting Persons believe that the Issuer needs to diversify the geography of its business as a result of additional competition in its current markets. As a result, on May 3, 2013, the Reporting Persons made a
non-binding unsolicited proposal to the Issuer’s Board of Directors that the Issuer acquire Jacobs Entertainment, Inc. (“JEI”) from the Reporting Persons who own all of the outstanding capital stock of JEI in exchange for the issuance
to those Reporting Persons of newly issued shares of common stock of the Issuer with a market value of $144.5 million. JEI is the owner and operator of The Lodge Casino at Black Hawk and Gilpin Hotel Casino, both located in Black Hawk, Colorado; the
Gold Dust West-Reno in Reno, Nevada; the Gold Dust West-Carson City in Carson City, Nevada; the Gold Dust West Elko-in Elko, Nevada (the casino properties); Colonial Downs Racetrack in Virginia and ten related off-track wagering facilities located
in Virginia; and 23 video poker truck stops located in Louisiana. The purpose of the proposed transaction is to strengthen and diversify the geography of the Issuer’s business and would result in the Reporting Persons acquiring control of the
Issuer. There is no guarantee that the foregoing proposal or an alternative proposal will be acceptable to the Issuer or that if a mutually acceptable proposal is agreed that the parties would be able to consummate that proposal.
Subject to and depending upon the availability of prices deemed favorable by the Reporting Persons, they may choose to purchase
additional shares of the Issuer from time to time in the open market, in privately negotiated transactions with third parties, or otherwise. In addition, depending upon prevailing conditions or other factors, the Reporting Persons may determine to
dispose of shares of the Issuer currently held by the Reporting Persons in the open market, in privately negotiated transactions with third parties, or otherwise. Although the Reporting Persons are analyzing and developing potential plans relating
to the Issuer or its shareholders, except as described herein, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions described in Item 4(a) through (j) of Schedule 13D under
Rule 13d-1(a).
Item 7. Exhibits.
Attached hereto as Exhibit A is a letter dated May 3, 2013 from Jacobs Investments, Inc. to Mr. Steven M. Billick, Chairman of the Board of the Issuer.
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SIGNATURES
After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each certifies that the information in this statement is true, complete and correct.
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| Dated: May 6, 2013 |
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Jeffrey P. Jacobs
Jacobs Entertainment, Inc. The Jeffrey P. Jacobs
Revocable Trust Gameco Holdings, Inc. |
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By: |
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/s/ Stephen R. Roark |
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Stephen R. Roark |
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Pursuant to Power of Attorney in Initial Filing |
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