NORAM GAMING & ENTERTAINMENT, INC.


                          Filing Type: 10QSB
                          Description: Quarterly Report
                          Filing Date:
                          Period End: June 30, 2001
                          Primary Exchange: Over the Counter Bulletin Board
                          Ticker: NORE


<PAGE>


                                TABLE OF CONTENTS



                                      10QSB

         PART I...........................................................    1
         Item 1...........................................................    2
         Item 2...........................................................    2
         PART II..........................................................    3
         Item 6...........................................................    3
         Condensed Balance Sheets.........................................    3
         Condensed Statements of Operations...............................    4
         Condensed Statements of Cash Flows...............................    5
         Notes to Condensed Financial Statements..........................    6

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    NORAM GAMING & ENTERAINMENT, INC. - 10QSB - QUARTERLY REPORT Date Filed:
 ------------------------------------------------------------------------------


                                  UNITED STATES
                        SECURITY AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FOR 10-QSB

[x]     Quarterly  Report  pursuant  to  Section  13 or 15 (d) of the Securities
        Exchange Act of 1934

            For the quarterly period ended   June 30, 2001
                                             -------------

[ ]     Transition  Report  pursuant  to 13 or 15 (d) of the Securities Exchange
        Act of 1934

            For the transition period from        to
                                          ------    ------

                       Commission File Number 33-55254-37



                       NORAM GAMING & ENTERTAINMENT, INC.
                       ----------------------------------

            Nevada                                                87-0485316
----------------------------                                 -------------------
(State or other jurisdiction                                 (IRS Employer
      of incorporation)                                      Identification No.)

2315 NW 107 Avenue
Unit 1M22, Mail Box 83
Miami FL                                                            33172
----------------------------------------                      ------------------
(Address of principal executive offices)                          (Zip Code)

Issuer's telephone number, including area code: (305-402-2085)
                                                --------------

Indicated  by a check  mark,  whether  the  issuers  (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 period the issuer was required
to file such reports),  and (2) has been subject to such filing requirements for
the past 90 days [X] Yes [ ] No

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

           Class                                 Outstanding as of June 30, 2001
------------------------------------             -------------------------------
$.001 par value Class A Common Stock                      26,705,298




<PAGE>


                       NORAM GAMING & ENTERTAINMENT, INC.
                            CONDENSED BALANCE SHEETS


                                               June 30,     December 31,
                                                 2001           2000
                                             -----------    -----------
                                             (Unaudited)     (Audited)

ASSETS
  CURRENT ASSETS
    Cash                                     $       345    $       462
    Inventory                                    163,841        163,841
                                             -----------    -----------
               TOTAL CURRENT ASSETS              164,186        164,303

  PROPERTY AND EQUIPMENT                           3,860          6,088
                                             -----------    -----------

                                             $   168,046    $   170,391
                                             ===========    ===========

LIABILITIES & STOCKHOLDERS' DEFICIT
  CURRENT LIABILITIES
    Accounts payable                         $    21,500    $    21,500
    Bridge loans                                 259,000        259,000
    Current portion of long-term debt             58,427         60,845
    Demand loans payable - related parties        93,943         90,442
    Accrued expenses                             108,248        107,960
    Accrued expenses - related parties           178,750        178,750
                                             -----------    -----------
               TOTAL CURRENT LIABILITIES         719,868        718,497
                                             -----------    -----------

  STOCKHOLDERS' (DEFICIT)
     Common stock $.001 par value:
     Authorized - 50,000,000 shares
     Issued and outstanding 26,705,298
     and 25,328,042, respectively                 26,705         25,328
    Additional paid-in capital                 2,830,849      2,777,131
    Deficit                                   (3,409,376)    (3,350,565)
                                             -----------    -----------
               TOTAL STOCKHOLDERS' DEFICIT      (551,822)      (548,106)
                                             -----------    -----------

                                             $   168,046    $   170,391
                                             ===========    ===========


 See accompanying summary of notes to unaudited condensed financial statements.



<PAGE>
<TABLE>
<CAPTION>

                       NORAM GAMING & ENTERTAINMENT, INC.
                       CONDENSED STATEMENTS OF OPERATIONS
                                   (Unaudited)


                                         Three months ended June 30,      Six months ended June 30,
                                        ----------------------------     ---------------------------
                                             2001            2000            2001            2000
                                        ------------    ------------    ------------    ------------
<S>                                     <C>             <C>             <C>             <C>

Net Sales                               $       --      $        110    $       --      $     12,806
Cost of Sales                                   --               925            --             7,981
                                        ------------    ------------    ------------    ------------

               GROSS PROFIT                     --              (815)           --             4,825


General and administrative expenses              118          39,829          55,352          87,383
Depreciation and amortization                  1,114           2,058           2,228           4,116
Interest expense                                --             1,476           1,231           9,284
                                        ------------    ------------    ------------    ------------
                                               1,232          43,363          58,811         100,783
                                        ------------    ------------    ------------    ------------


               NET LOSS                 $     (1,232)   $    (44,178)    $ ( 58,811)    $    (95,958)
                                        ============    ============    ============    ============

Net loss per weighted average           $       (.00)   $       (.00)   $       (.00)   $      (0.01)
                                        ============    ============    ============    ============

Weighted average number of common
  shares used to compute net loss per
  weighted average share                  26,705,298      17,246,539      26,469,414      16,812,870
                                        ============    ============    ============    ============
</TABLE>

 See accompanying summary of notes to unaudited condensed financial statements.


<PAGE>

                       NORAM GAMING & ENTERTAINMENT, INC.
                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                      Six months ended June 30,
                                                      -------------------------
                                                        2001           2000
                                                      ---------      ---------
OPERATING ACTIVITIES
  Net loss                                            $ (58,811)     $ (95,958)
  Adjustments to reconcile net loss to
    net cash used by operating activities:
      Stock issued for services and expenses             55,095           --
      Depreciation                                        2,228          4,116
  Changes in assets and liabilities:
      Inventory                                            --            7,496
      Accounts receivable                                  --          (10,956)
      Accounts payable                                     --            3,512
      Accrued expenses                                      288         76,467
                                                      ---------      ---------
               NET CASH USED BY
                 OPERATING ACTIVITIES                    (1,200)       (15,323)

INVESTING ACTIVITIES
      Contract collections                                 --           22,429
                                                      ---------      ---------
               NET CASH PROVIDED BY
                 INVESTING ACTIVITIES                    22,429

FINANCING ACTIVITIES
      Loan proceeds                                       3,500           --
      Loan repayments                                    (2,417)        (6,936)
                                                      ---------      ---------
               NET CASH PROVIDED (USED) BY
                 FINANCING ACTIVITIES                     1,083         (6,936)
                                                      ---------      ---------
               INCREASE (DECREASE)  IN                     (117)           170
Cash-beginning of period                                    462            429
                                                      ---------      ---------
               CASH-END OF PERIOD                     $     345      $     599
                                                      =========      =========

SUPPLEMENTAL INFORMATION Cash paid for:
  Interest                                            $     903      $   9,284
                                                      =========      =========

See accompanying summary of notes to unaudited condensed financial statements.



<PAGE>

                       NORAM GAMING & ENTERTAINMENT, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE 1:  SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

Basis of Presentation

The  accompanying  financial  statements  have been prepared in accordance  with
generally  accepted   accounting   principles  ("GAAP")  for  interim  financial
information.  Accordingly,  they  do not  include  all of  the  information  and
footnotes  required by  generally  accepted  auditing  principles  for  complete
financial statements.  The unaudited financial statements should,  therefore, be
read in  conjunction  with the  financial  statements  and notes  thereto in the
Report on Form 10KSB for the year ended  December  31,  2000.  In the opinion of
management,  all  adjustments  (consisting of normal and recurring  adjustments)
considered necessary for a fair presentation, have been included. The results of
operation  for the six month  period  ended  June 30,  2001 are not  necessarily
indicative of the results that may be expected for the entire fiscal year.

Accounting Methods

The  Company  recognized  income and  expenses  based on the  accrual  method of
accounting.

Dividend Policy

The Company has not yet adopted any policy regarding payment of dividends.

Inventory

Inventory  consists of  equipment  for resale and is valued at the lower of cost
(first-in, first-out basis) or market.

Cash and Cash Equivalents

For  financial  statement  purposes,  the Company  considers  all highly  liquid
investments  with  an  original  maturity  date of  three  months  of less  when
purchased to be cash equivalents.

Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect the  reported  amounts of assets,  liabilities,  revenues,  and  expenses
during the reporting period.  Estimates also affect the disclosure of contingent
assets and liabilities at the date of the financial  statements.  Actual results
could differ from these estimates.

NOTE 2:  GOING CONCERN

The financial  statements are presented on the basis that the Company is a going
concern,  which  contemplates  the realization of assets and the satisfaction of
liabilities  in the normal course of business over a reasonable  length of time.
At June 30, 2001 the Company had a deficit in working  capital of $555,682 and a
loss from operations of $58,811.

Management feels that expanding its operations to the Internet and a combination
of debt  financing  and sale of common  stock will  provide  sufficient  working
capital to allow the Company to continue as a going concern.

<PAGE>

                         PART 1 - FINANCIAL INFORMATION

Item 1.  Financial Statements.

BASIS OF PRESENTATION

General

     The  accompanying  unaudited  financial  statements  have been  prepared in
accordance with the instructions to Form 10-QSB and,  therefore,  do not include
all information and footnotes necessary for a complete presentation of financial
position,  results of  operations,  cash  flows,  and  stockholders'  deficit in
conformity  with generally  accepted  accounting  principles.  In the opinion of
management,  all adjustments considered necessary for a fair presentation of the
results of  operations  and  financial  position have been included and all such
adjustments  are of a normal  recurring  nature.  Operating  results for the six
months ended June 30, 2001, are not  necessarily  indicative of the results that
can be expected for the year ending December 31, 2001.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

     As of June 30,  2001,  the Company  had $345 cash in the bank.  There is no
certainty that the Company can meet its current financial commitments.

     Net loss was $1,232 for the three months ended June 30, 2001  compared with
net loss of $43,363  for the same  period in 2000.  The  Company's  general  and
administrative  expenses  increased  in 2001  due to the  Company  discontinuing
operations.

     Net revenue was $0 for the three months ended June 30, 2001  compared  with
$110 for the same period in 2000 for a decrease of 100%.  The  decrease in sales
is attributed to the decision by the Company to discontinue the bingo operations
and concentrate on selling bingo  equipment.  Cost of sales for the three months
ended June 30,  2001 were $0  compared to $925 for the same period in 2000 for a
decrease of 100%.

     General and administrative  expenses were $1,232 for the three months ended
June 30, 2001  compared to $43,363 for the same period in 2000 for a decrease of
97%. Depreciation and amortization expense was $1,114 for the three months ended
June 30,  2001  compared to $2,058 for the same period in 2000 for a decrease of
46%.  Interest  expense for the three months ended June 30, 2001 was $0 compared
to $1,476 for the same period in 2000 for a decrease of 100%.

     Net loss was $58,811 for the six months ended June 30, 2001  compared  with
net loss of $95,958  for the same  period in 2000.  The  Company's  general  and
administrative expenses decreased in 2001 due to decrease in consulting fees.

     Net sales was $0 for the six  months  ended  June 30,  2001  compared  with
$12,806  for the same  period in 2000 for a decrease  of 100%.  The  decrease in
sales is  attributed  to the  decision by the Company to  discontinue  the bingo
operations and concentrate on selling bingo equipment. Cost of sales for the six
months  ended June 30,  2001 were $0  compared  to $7,981 for the same period in
2000 for a decrease of 100%.

     General and  administrative  expenses were $55,352 for the six months ended
June 30, 2001  compared to $87,383 for the same period in 2000 for a decrease of
37%.  Depreciation and amortization  expense was $2,228 for the six months ended
June 30,  2001  compared to $4,116 for the same period in 2000 for a decrease of
46%. Interest expense for the six months ended June 30, 2001 was $1,231 compared
to $9,284 for the same period in 2000 for a decrease of 87%.



<PAGE>

                           PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

(a)      Exhibits
         99-1 Financial Statements as of June 30, 2001

(b)      Reports on Form 8-K
         None

                                   SIGNATURES

     Pursuant to the  requirements  of the  Securities and Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                              NORAM GAMING & ENTERTAINMENT, INC.






    DATED:                                    /s/ George C. Zilba, Director
                                             ----------------------------------
                                             George C. Zilba, Director