<PAGE>

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            ------------------------

                                  FORM 10-K/A

(MARK ONE)

  /X/    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

        FOR THE FISCAL YEAR ENDED DECEMBER 31, 1998
                                       OR

  / /    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

        FOR THE TRANSITION PERIOD FROM ______________ TO ______________

                        COMMISSION FILE NUMBER 333-61433

                            ------------------------

                               EPIC RESORTS, LLC
             (Exact name of registrant as specified in its charter)

                  DELAWARE                             23-2888968
      (State or other jurisdiction of               (I.R.S. Employer
       incorporation or organization)              Identification No.)

        1150 FIRST AVENUE, SUITE 900                      19406
            KING OF PRUSSIA, PA                        (Zip Code)
  (Address of principal executive offices)

       Registrant's telephone number, including area code: (610) 992-0100

        Securities registered pursuant to Section 12(b) of The Act: NONE

        Securities registered pursuant to Section 12(g) of The Act: NONE

                            ------------------------

    Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days: Yes /X/  No / /

    Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Annual Report on Form 10-K or any
amendment to this Form 10-K. Yes /X/  No / /

    As of March 30, 1999, 1,118,000 Membership Interests of the Registrant were
outstanding.

                   Documents incorporated by reference: NONE

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<PAGE>
                                    PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.

(a) FINANCIAL STATEMENTS

    Exhibit 27--Financial Data Schedule.

(b) REPORTS. No reports on Form 8-K have been filed during the last quarter of
    the fiscal year ended December 31, 1998.

(c) EXHIBITS

<TABLE>
<CAPTION>
  EXHIBIT
  NUMBER     DESCRIPTION OF DOCUMENT
-----------  ------------------------------------------------------------------
<C>          <S>
     3.1     Certificate of Formation of Epic Resorts, LLC. (incorporated by 
             reference to Exhibit 3.1 to the Company's registration statement 
             on Form S-4, File No. 333-61433)

     3.2     Operating Agreement of Epic Resorts, LLC. (incorporated by 
             reference to Exhibit 3.2 to the Company's registration statement 
             on Form S-4, File No. 333-61433)

     3.3     By-Laws of Epic Resorts, LLC. (incorporated by reference to 
             Exhibit 3.3 to the Company's registration statement on Form S-4, 
             File No. 333-61433)

     3.4**   Restated Certificate of Incorporation of Epic Vacation Club.

     3.5**   By-Laws of Epic Vacation Club

     4.1     Indenture, dated July 8, 1998 between Epic Resorts, LLC, Epic 
             Capital Corp., the Subsidiary Guarantors signatory thereto and 
             United States Trust Company of New York, as Trustee relating to 
             the 13% Senior Secured Redeemable Notes due 2005 (the form of 
             which is included in such indenture). (incorporated by reference 
             to Exhibit 4.1 to the Company's registration statement on 
             Form S-4, File No. 333-61433)

     4.2     Form of Global Exchange Note (included in Exhibit 4.1). 
             (incorporated by reference to Exhibit 4.2 to the Company's 
             registration statement on Form S-4, File No. 333-61433)

     4.4     First Supplemental Indenture, dated January 7, 1999 between Epic 
             Resorts, LLC, Epic Capital Corp., the Subsidiary Guarantors 
             signatory thereto, Epic Marketing, LLC, Epic Resorts--Vacation 
             Showplace LLC, Epic Resorts Management, LLC and United States 
             Trust Company of New York as trustee.

     4.5     Second Supplemental Indenture, dated February 3, 1999 between 
             Epic Resorts, LLC, Epic Capital Corp., the Subsidiary Guarantors 
             signatory thereto and United States Trust Company of New York, 
             as trustee.

    10.1*    Employment Agreement between Epic Resorts, Inc. and Thomas F. 
             Flatley, dated May 20, 1998. (incorporated by reference to 
             Exhibit 10.1 to the Company's registration statement on Form S-4, 
             File No. 333-61433)

    10.2*    Employment Agreement between Epic Resorts, Inc. and Scott J. 
             Egelkamp, dated May 20, 1998. (incorporated by reference to 
             Exhibit 10.2 to the Company's registration statement on Form S-4, 
             File No. 333-61433)
</TABLE>


                                       32
<PAGE>
<TABLE>
<CAPTION>
  EXHIBIT
  NUMBER     DESCRIPTION OF DOCUMENT
-----------  ------------------------------------------------------------------
<C>          <S>
    10.3     Escrow and Disbursement Agreement, dated July 8, 1998 between 
             United States Trust Company of New York, as Trustee under the 
             Indenture and as Escrow Agent, Epic Resorts, LLC and Epic Capital 
             Corp. (incorporated by reference to Exhibit 10.3 to the Company's 
             registration statement on Form S-4, File No. 333-61433)

    10.4     Security Agreement, dated July 8, 1998 made by the Grantors named 
             therein in favor of United States Trust Company of New York, as 
             trustee under the Indenture, Collateral Agent and Depository for 
             the benefit of the Noteholders of the 13% Senior Secured Notes 
             due 2005 issued by Epic Resorts, LLC and Epic Capital Corp. 
             (incorporated by reference to Exhibit 10.4 to the Company's 
             registration statement on Form S-4, File No. 333-61433)

    10.5     Registration Rights and Members' Agreement, dated July 8, 1998 
             between Epic Resorts, LLC, Epic Membership Corp., Members of Epic 
             Resorts LLC, Epic Capital Corp., Epic Warrant Co. and NatWest 
             Capital Markets Limited, as Initial Purchaser. (incorporated by 
             reference to Exhibit 10.5 to the Company's registration statement 
             on Form S-4, File No. 333-61433)

    10.6     Warrant Agreement, dated July 8, 1998 between Epic Warrant Co., 
             as Issuer and United States Trust Company of New York, as Warrant 
             Agent. (incorporated by reference to Exhibit 10.6 to the 
             Company's registration statement on Form S-4, File No. 333-61433)

    10.7     Warrant Agreement, dated July 8, 1998 between Epic Resorts, LLC, 
             as Issuer and United States Trust Company of New York, as Warrant 
             Agent. (incorporated by reference to Exhibit 10.7 to the 
             Company's registration statement on Form S-4, File No. 333-61433)

    10.8     Form of Epic Warrant Co. Warrant Certificate (included in and 
             incorporated by reference to Exhibit 10.6 to the Company's 
             registration statement on Form S-4, File No. 333-61433)

    10.9     Form of Epic Resorts, LLC Warrant Certificate (included in and 
             incorporated by reference to Exhibit 10.7 to the Company's 
             registration statement on Form S-4, File No. 333-61433)

    10.10    Mortgage and Security Agreement, granted July 8, 1998 by Epic 
             Resorts--Hilton Head, LLC, as mortgagor to United States Trust 
             Company of New York, as trustee under the Indenture and 
             mortgagee. (incorporated by reference to Exhibit 10.10 to the 
             Company's registration statement on Form S-4, File No. 333-61433)

    10.11    Deed of Trust, granted July 8, 1998 by Epic Resorts--Westpark 
             Resort, LLC, as trustor to United Title of Nevada, as trustee for 
             the benefit of United States Trust Company of New York, as 
             trustee under the Indenture. (incorporated by reference to 
             Exhibit 10.11 to the Company's registration statement on 
             Form S-4, File No. 333-61433)

    10.12    Form of Leasehold Deed of Trust, Assignment of Leases and Rents 
             Security Agreement and Fixture Filing, granted July  , 1998 by 
             Epic Resorts--Palm Springs Marquis Villas, LLC, as trustor to
             Barbara J. Goodman, Esq., as trustee for the benefit of United 
             States Trust Company of New York, as trustee under the Indenture. 
             (incorporated by reference to Exhibit 10.12 to the Company's 
             registration statement on Form S-4, File No. 333-61433)
</TABLE>


                                       33
<PAGE>
<TABLE>
<CAPTION>
  EXHIBIT
  NUMBER     DESCRIPTION OF DOCUMENT
-----------  ------------------------------------------------------------------
<C>          <S>
    10.13    Mortgage, granted July 8, 1998 by Daytona Beach Regency, Ltd., as 
             mortgagor to United States Trust Company of New York, as trustee 
             under the Indenture and mortgagee. (incorporated by reference to 
             Exhibit 10.13 to the Company's registration statement on 
             Form S-4, File No. 333-61433)

    10.14    Deed of Trust, granted July 8, 1998 by Epic Resorts--Scottsdale 
             Links Resort, LLC, as trustor to Jones Osborn, II, Esq., as 
             trustee for the benefit of United States Trust Company of 
             New York, as trustee under the Indenture. (incorporated by 
             reference to Exhibit 10.14 to the Company's registration 
             statement on Form S-4, File No. 333-61433)

    10.15    Receivables Loan and Security Agreement, dated October 11, 1996 
             between London Bridge Resort, Inc. and Finova Capital 
             Corporation. (incorporated by reference to Exhibit 10.15 to the
             Company's registration statement on Form S-4, File No. 333-61433)

    10.16    Trust Indenture, dated September 28, 1998 between Epic Master 
             Funding Corporation, Epic Resorts, LLC as administrator and 
             Marine Midland Bank, as trustee. (incorporated by reference to 
             Exhibit 10.16 to the Company's registration statement on 
             Form S-4, File No. 333-61433)

    10.17    Credit Agreement, dated September 28, 1998 between Epic Master 
             Funding Corporation, Epic Resorts, LLC and Prudential Securities 
             Credit Corporation. (incorporated by reference to Exhibit 10.17 
             to the Company's registration statement on Form S-4, File 
             No. 333-61433)

    10.18    Form of Security Agreement for vacation club property, between 
             United States Trust Company of New York, as trustee under the 
             Indenture and the resort subsidiary transferring vacation 
             ownership units to Epic Vacation Club.

    10.19**  Rules of Epic Vacation Club.

    10.20**  Management Agreement between Epic Vacation Club and Epic Resorts 
             Management, LLC.

    10.21**  Escrow Agreement between Epic Resorts, LLC, Epic Vacation Club 
             and Intercity Escrow Services.

    10.22**  Form of Sublease between resort subsidiaries and Epic Vacation 
             Club.

    10.23**  Form of Vacation Plan Agreement between Epic Resorts, LLC and 
             Epic Vacation Club.

    10.24**  Form of Vacation Owner Security Agreement between the resort 
             subsidiary and Epic Vacation Club.

    10.25**  Form of Reimbursement Agreement between Epic Resorts, LLC and 
             Epic Vacation Club.

    21       Subsidiaries of Epic Resorts, LLC.

    27       Financial Data Schedule.
</TABLE>

----------
 *  Denotes a management contract.
**  Filed herewith.

(d) FINANCIAL STATEMENT SCHEDULES

Schedules are omitted because they are not applicable or are not required or 
because the information is reported in the consolidated financial statements 
or notes thereto.


                                       34
<PAGE>
                                   SIGNATURE

    Pursuant to the requirements of Section 13 of the Securities Exchange Act 
of 1934, the registrant has duly caused this annual report on Form 10-K to be 
signed on its behalf by the undersigned thereunto duly authorized.


                                EPIC RESORTS, LLC

Date: May 13, 1999              By:            /s/ SCOTT J. EGELKAMP
                                     -----------------------------------------
                                                 Scott J. Egelkamp
                                     VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
                                            (DULY AUTHORIZED OFFICER AND
                                            PRINCIPAL FINANCIAL OFFICER)


     Pursuant to the requirements of the Securities Exchange Act of 1934, 
this annual report on Form 10-K has been signed below by the following 
persons on behalf of the Registrant and in the capacities and on the dates 
indicated.

<TABLE>
<CAPTION>
          SIGNATURE                       TITLE                    DATE
------------------------------  --------------------------  -------------------
<C>                             <S>                         <C>
                                President and Chief
    /s/ THOMAS F. FLATLEY         Executive Officer
------------------------------    (Principal Executive        May 13, 1999
      Thomas F. Flatley           Officer)

                                Vice President and Chief
    /s/ SCOTT J. EGELKAMP         Financial Officer
------------------------------    (Principal Financial and    May 13, 1999
      Scott J. Egelkamp           Accounting Officer)

                                Managing Member               May 13, 1999
    /s/ THOMAS F. FLATLEY
------------------------------
    Epic Membership Corp.
    By: Thomas F. Flatley,
          President
</TABLE>


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