[Federal Register Volume 68, Number 246 (Tuesday, December 23, 2003)]
[Notices]
[Pages 74276-74277]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-31549]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of GB Holdings, Inc. and 
its Wholly-Owned Subsidiaries Greate Bay Hotel and Casino, Inc. and GB 
Property Funding Corp., To Withdraw its 11% Notes (Due 2005) From 
Listing and Registration on the American Stock Exchange LLC File No. 1-
15064

December 17, 2003.
    GB Holdings, Inc., (``Holdings''), and its wholly-owned 
subsidiaries Greate Bay Hotel and Casino, Inc. (``Operating'') and GB 
Property Funding Corp. (``Funding''), incorporated in the States of 
Delaware and New Jersey (together the ``Issuer''), have filed an 
application with the Securities and Exchange Commission 
(``Commission''), pursuant to section 12(d) of the Securities Exchange 
Act of 1934 (``Act'')\1\ and Rule 12d2-2(d) thereunder,\2\ to withdraw 
the 11% Notes (due 2005) issued by Funding and guaranteed by Operating 
and Holdings (``Security''), from listing and registration on the 
American Stock Exchange LLC (``Amex'' or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    The Board of Directors (``Board'') of the Issuer, by unanimous 
written consent, dated November 11, 2003, determined to withdraw the 
Issuer's Security from listing on the Amex. The Board states that it 
reached its decision to withdraw the Security from listing and 
registration on the Amex after concluding that the existing listing has 
not resulted in an active trading market, which, the Board believes, 
results from several factors, including the fact that: (i) There are 
only 44 noteholders of record; (ii) an affiliate of the Issuer owns 
approximately 58% of the aggregate principal amount of the Security and 
six record holders own approximately 95.3% of the aggregate principal 
amount of the Security; and (iii) in the past 60 days only $3,717,000 
of the Security has been traded on the Amex. Accordingly, the continued 
listing of the Security does not serve either the Issuer's interest or 
the interests of the holders of the Security because an active trading 
market on the Amex has not developed.
    The Issuer stated in its application that it has met the 
requirements of Amex Rule l8 by complying with all applicable laws in 
the States of Delaware and New Jersey, in which it is incorporated, and 
with the Amex's rules governing an issuer's voluntary withdrawal of a 
security from listing and registration.

[[Page 74277]]

    The Issuer's application relates solely to the withdrawal of the 
Securities from listing on the Amex and from registration under section 
12(b) of the Act \3\ and shall not affect its obligation to be 
registered under section 12(g) of the Act.\4\
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    \3\ 15 U.S.C. 781(b).
    \4\ 15 U.S.C. 781(g).
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    Any interested person may, on or before January 9, 2004, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the Amex and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority. \5\
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    \5\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 03-31549 Filed 12-22-03; 8:45 am]
BILLING CODE 8010-01-P