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: January 17, 2003 ALPHA HOSPITALITY CORPORATION (Exact Name of Registrant as Specified in Charter) Delaware 1-12522 13-3714474 (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 707 Skokie Boulevard, Suite 600, Northbrook, Illinois 60062 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (847) 418-3804 ITEM 5. OTHER EVENTS On January 17, 2003, Alpha Hospitality Corporation issued a press release concerning a notification by Nasdaq of a failure to comply with the continued listing requirements of the Nasdaq SmallCap Market. A copy of the press release is attached hereto as Exhibit 99 and incorporated herein by reference. Item 7. Financial Statements and Exhibits (i) Exhibits 99 Press Release of Alpha Hospitality Corporation dated January 17, 2003 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. Dated: January 17, 2003 ALPHA HOSPITALITY CORPORATION (Registrant) By: /s/ Scott A. Kaniewski Scott A. Kaniewski Chief Financial Officer EXHIBIT 99 ALPHA HOSPITALITY CORPORATION 707 Skokie Boulevard Suite 600 Northbrook, IL 60062 Contact: Scott Kaniewski FOR IMMEDIATE RELEASE (847) 418-3804 ALPHA HOSPITALITY CORPORATION RECEIVES DELISTING NOTICE FROM NASDAQ Northbrook, Illinois - January 17, 2003 - Alpha Hospitality Corporation (Nasdaq and BSE: ALHY) announced today that it received a Nasdaq Staff Determination letter dated January 14, 2003 stating that the Company has failed to comply with the continued listing requirements of the Nasdaq SmallCap Market. The notification was made pursuant to Nasdaq Marketplace Rules 4350(e) and 4350(g) for failure by the Company to hold its 2002 annual meeting within the prescribed period of time. Accordingly, Nasdaq has notified the Company that its securities are subject to delisting from the Nasdaq SmallCap Market. The Company intends to request a hearing before the Nasdaq Listing Qualifications Panel to appeal Nasdaq's determination and the delisting will be stayed pending the Panel's decision. However, there can be no assurance that the Company's appeal for continued listing will succeed. ###