NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                       NORAM GAMING & ENTERTAINMENT, INC.


                           Filing Type:  10QSB
                           Description:  Quarterly Report
                           Filing Date:  November 12, 2002
                            Period End:  September 30, 2002
                      Primary Exchange:  Pink Sheets
                                Ticker:  NORE









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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                                TABLE OF CONTENTS



                                      10QSB

         PART I.......................................................    5
         Item 1.......................................................    5
         Condensed Balance Sheets.....................................    7
         Condensed Statements of Operations...........................    8
         Condensed Statements of Cash Flows...........................    9
         Notes to Condensed Financial Statements......................   10
         Item 2.......................................................   11
         Item 3.......................................................   11
         PART II......................................................   12
         Item 6.......................................................   12









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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                                  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  September 30, 2002
                                          ------------------

[ ] 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 of                              (IRS Employer
        incorporation)                                     Identification No.)

6620 Muller Drive
Ottawa Lake MI                                                   49267
----------------------------------------                      ----------
(Address of principal executive offices)                      (Zip Code)

Issuer's telephone number, including area code: 419-450-4849
                                               -------------

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 September 30, 2002
------------------------------------        ------------------------------------
$.001 par value Class A Common Stock                   26,705,298



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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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This  Form   10-QSB   contains   certain   forward-looking   statements.   These
forward-looking statements include statements regarding marketing plans, capital
and  operating  expenditures,  results  of  operations,  and  the  need  for and
availability of additional  financing.  The forward-looking  statements included
herein  are  based on  current  expectations  and  involve a number of risks and
uncertainties.   These  forward-looking  statements  are  based  on  assumptions
regarding the Company's  business which involve  judgments with respect to among
other things,  future economic and competitive  conditions,  future regulations,
and business  decisions,  all of which are  difficult or  impossible  to predict
accurately  and many of which are beyond the  Company's  control.  Although  the
Company believes that the assumptions underlying the forward-looking  statements
are reasonable,  any of the assumptions  could prove inaccurate and,  therefore,
actual results may differ materially from those set forth in the forward-looking
statements.  Any  forward-looking  statement speaks only as of the date on which
such  statement  is made.  New factors  emerge from time to time,  and it is not
possible  for the  Company to predict  all such  factors.  Further,  the Company
cannot  assess the impact of each such  factor on the  business or the extent to
which any factor, or combinations of factors, may cause actual results to differ
materially from those contained in any  forward-looking  statement.  In light of
the  significant  uncertainties  inherent  in  the  forward-looking  information
contained  herein,  the inclusion of such information  should not be regarded as
any  representation  by the  Company  or any  other  person  that the  Company's
objectives or plans will be achieved.



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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                         PART 1 - FINANCIAL INFORMATION

Item 1.  Financial Statements.

BASIS OF PRESENTATION


General

     The  accompanying   unaudited  condensed  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 nine months  ended  September  30,  2002,  are not  necessarily
indicative of the results that can be expected for the year ending  December 31,
2002.









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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                             DIROCCO & DOMBROW, P.A.
                       3601 W. COMMERCIAL BLVD, SUITE #39
                            FT. LAUDERDALE, FL 33309
                                 (954) 731-8181

          REPORT ON REVIEW BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
          ------------------------------------------------------------

Board of Directors
NorAm Gaming and Entertainment, Inc.

We have reviewed the  accompanying  condensed  balance sheet of NorAm Gaming and
Entertainment,  Inc.  as  of  September  30,  2002  and  the  related  condensed
statements  of  operations  and cash flows for the three and nine  months  ended
September 30, 2002 and 2001 included in the accompanying Securities and Exchange
Commission  Form 10-Q for the period ended  September 30, 2002.  These condensed
statements are the responsibility of the Company's management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A review  of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with  generally  accepted  auditing  standards,  the  objective  of which is the
expression of an opinion  regarding the financial  statements  taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review,  we are not aware of any material  modification that should
be made to the  accompanying  condensed  financial  statements for them to be in
conformity with generally accepted accounting principles.

The accompanying condensed financial statements have been prepared assuming that
the Company  will  continue as a going  concern.  As  discussed in Note 2 to the
condensed financial  statements,  the Company has experienced  continuing losses
since inception and negative  working  capital;  this raises  substantial  doubt
about its ability to continue as a going concern.  Management's  plans regarding
those matters also are described in Note 2. The condensed  financial  statements
do not  include  any  adjustments  that might  result  from the  outcome of this
uncertainty.

We have  previously  audited,  in accordance  with generally  accepted  auditing
standards,  the balance sheet as of December 31, 2001 and the related statements
of operations,  stockholders' equity and cash flows for the year then ended (not
presented herein). In our report dated May 16, 2002, we expressed an unqualified
opinion on those financial statements. In our opinion, the information set forth
in the accompanying  condensed balance sheet as of September 30, 2002, is fairly
stated in all material  respects in relation to the balance  sheet from which it
has been derived.


/s/ DiRocco & Dombrow, P.A.
October 28, 2002



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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                       NORAM GAMING & ENTERTAINMENT, INC.
                            CONDENSED BALANCE SHEETS


                                            September 30,     December 31,
                                                 2002             2001
                                            -------------    -------------
                                             (Unaudited)       (Audited)

ASSETS
 CURRENT ASSETS
   Cash                                     $          26    $          93
   Inventory                                         --               --
                                            -------------    -------------
     TOTAL CURRENT ASSETS                              26               93

  PROPERTY AND EQUIPMENT                             --              2,901
                                            -------------    -------------

                                            $          26    $       2,994
                                            =============    =============

LIABILITIES & STOCKHOLDERS' DEFICIT
 CURRENT LIABILITIES
   Accounts payable                         $      17,856    $      21,500
   Bridge loans                                   215,000          215,000
   Current portion of long-term debt               58,427           58,427
   Demand loans payable - related parties         150,436          139,936
   Accrued expenses                               164,069          148,846
   Accrued expenses - related parties             171,250          171,250
                                            -------------    -------------
     TOTAL CURRENT LIABILITIES                    777,038          754,959
                                            -------------    -------------

STOCKHOLDERS' (DEFICIT)
  Common stock $.001 par value:
  Authorized - 50,000,000 shares
  Issued and outstanding 26,705,298 and
    26,705,298, respectively                       26,705           26,705
  Additional paid-in capital                    2,830,849        2,830,849
  Deficit                                      (3,634,566)      (3,609,519)
                                            -------------    -------------
TOTAL STOCKHOLDERS' DEFICIT                      (777,012)        (751,965)
                                            -------------    -------------

                                            $          26    $       2,994
                                            =============    =============

 See accompanying summary of notes to unaudited condensed financial statements.

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<TABLE>
<CAPTION>

NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                       NORAM GAMING & ENTERTAINMENT, INC.
                       CONDENSED STATEMENTS OF OPERATIONS
                                   (Unaudited)


                                        Three months ended September 30,     Nine months ended September 30,
                                        --------------------------------    --------------------------------
                                              2002              2001              2002              2001
                                        --------------    --------------    --------------    --------------
<S>                                     <C>               <C>               <C>               <C>
Net Sales                               $         --      $         --      $         --      $         --
Cost of Sales                                     --                --                --                --
                                        --------------    --------------    --------------    --------------

    GROSS PROFIT                                  --                --                --                --
                                        --------------    --------------    --------------    --------------

General and administrative expenses              2,379             9,880             6,923            65,232
Depreciation and amortization                     --               3,860               364             6,088
Interest expense                                 5,027             5,368            15,222             6,599
Loss on disposal of fixed assets                  --                --               2,538              --
                                        --------------    --------------    --------------    --------------
                                                 7,406            19,108            25,047            77,919
                                        --------------    --------------    --------------    --------------


    NET LOSS                            $       (7,406)   $      (19,108)   $      (25,047)   $      (77,919)
                                        ==============    ==============    ==============    ==============

Net loss per weighted average share     $         0.00    $         0.00    $         0.00    $         0.00
                                        ==============    ==============    ==============    ==============

Weighted average number of common
  shares used to compute net loss per
  weighted average share                    26,705,298        26,705,298        26,705,298        26,469,414
                                        ==============    ==============    ==============    ==============

</TABLE>




 See accompanying summary of notes to unaudited condensed financial statements.

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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                       NORAM GAMING & ENTERTAINMENT, INC.
                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                               Nine Months ended September 30,
                                               -------------------------------
                                                    2002              2001
                                               -------------     -------------

OPERATING ACTIVITIES
  Net loss                                     $     (25,047)    $     (77,919)
  Adjustments to reconcile net loss to
    net cash used by operating activities:
      Stock issued for services and expenses            --              55,095
      Loss on disposal of fixed assets                 2,538              --
      Depreciation                                       364             6,088
  Changes in assets and liabilities:
      Accounts payable                                (3,644)             --
      Accrued expenses                                15,222            15,306
                                               -------------     -------------
        NET CASH USED BY
         OPERATING ACTIVITIES                        (10,567)           (1,430)
                                               -------------     -------------

FINANCING ACTIVITIES
      Loan proceeds                                   10,500             3,500
      Loan repayments                                   --              (2,417)
                                               -------------     -------------
        NET CASH PROVIDED (USED) BY
         FINANCING ACTIVITIES                         10,500             1,083
                                               -------------     -------------

        DECREASE IN CASH                                 (67)             (347)

Cash, beginning of period                                 93               462
                                               -------------     -------------

Cash, end of period                            $          26     $         115
                                               =============     =============

Supplemental Information
  Cash paid for:
    Interest                                   $        --       $         903
                                               =============     =============
    Taxes                                      $        --       $        --
                                               =============     =============




 See accompanying summary of notes to unaudited condensed financial statements.

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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                       NORAM GAMING & ENTERTAINMENT, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2002

NOTE 1:  SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

Basis of Presentation

The accompanying condensed financial statements have been prepared in conformity
with accounting  principles  generally accepted in the United States for interim
financial  information  consistent in all material aspects with those applied in
the Company's  annual report filed on Form 10-KSB for the year ended December 31
2001.  The interim  financial  information  is unaudited but reflects all normal
adjustments which are in the opinion of management,  necessary to provide a fair
statement of results for the interim periods  presented.  The interim  financial
statements  should be read in conjunction  with the financial  statements in the
Company's  annual  report  filed on Form 10-KSB for the year ended  December 31,
2001.

The condensed  financial  statement and notes are presented as permitted by Form
10-QSB and do not contain certain information  included in the Company's audited
financial statements for the year ended December 31 2001.

The results of  operations  for the nine months ended  September 30 2002 are not
necessarily indicative of results that may be expected for the entire 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.

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 accounting principles
generally  accepted in the United States  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  a  going  concern  basis,  which
contemplates  the  realization of assets and the  satisfaction of liabilities in
the normal  course of business.  At September 30, 2002 the Company had a deficit
in working capital of $777,012 and a loss from operations of $25,047.

Management  feels that unless new  operations  are  identified  and financed the
Company may be unable to continue as a going concern.


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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations

     As of  September  30,  2002,  the  Company  had $26  cash in the  bank  and
liabilities  of $777,038.  There is no  certainty  that the Company can meet its
current financial commitments.

     Net loss was $7,406 for the three months ended  September 30, 2002 compared
with net loss of $19,108 for the same period in 2001. The Company's  general and
administrative  expenses  decreased  in 2002 due to the fact that the Company is
currently performing those tasks and paying only those expenses required to keep
it in good standing .

     Net revenue was $0 for the three months ended  September  30, 2002 compared
with $0 for the same period in 2001 which represents the same level of activity.
The Company has discontinued the bingo operations and concentrate on looking for
new opportunities.

    General and  administrative  expenses were $2,379 for the three months ended
September 30, 2002 compared to $9,880 for the same period in 2001 for a decrease
of 76%.  Depreciation and amortization expense was $-0- and $3,860 for the three
months ended  September 30, 2002 and 2001,  respectively.  No  depreciation  was
recorded in the current  quarter due to the write off of remaining  equipment in
the first  quarter of the current  fiscal.  Interest  expense was $5,027 for the
three months ended  September 30, 2002 was $5,368 compared to the same period in
2001.  The decrease was due to the  discontinuance  of Bingo  operations and the
fact that only those  matters  required to keep the Company in good standing are
being performed.

     Net loss was $25,047 for the nine months ended  September 30, 2002 compared
with a net loss of $77,919 for the same period in 2001.  The  Company's  general
and administrative expenses decreased the decrease was due to the discontinuance
of Bingo  operations  and the fact that only those matters  required to keep the
Company in good standing are being performed.

Plan of Operations

The Company is currently paying only those expenses  required to keep it in good
standing.  These  payments  are being  advanced  on behalf of the  Company  by a
shareholder.  If the shareholder  ceases to make these payments the Company will
not be able to continue as a going concern. It is anticipated that expenses will
continue  to be incurred at a rate  roughly  equivalent  to the loss in the last
quarter  unless an  opportunity  is identified and a decision made to pursue it.
Pursuit of any opportunity  will be dependant on the Company's  ability to raise
sufficient capital.

Unless the Company is able to find  additional  financing,  settle its debts and
find a suitable  acquisition or merger candidate it may be unable to continue as
a going concern.


Item 3

Within 90 days prior to the filing of this Quarterly Report on Form 10-QSB,  our
chief executive  officer and chief financial officer evaluated the effectiveness
of our disclosure controls and procedures and have concluded that these controls
and procedures  effectively ensure that the information required to be disclosed
by us in the reports  that we file or submit under the  Securities  and Exchange
Act of 1934, as amended,  is recorded,  processed,  summarized and reported in a
timely manner.  There have been no significant  changes in our internal controls
or in other factors that could significantly affect these controls subsequent to
the date of their evaluation.


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                           PART II - OTHER INFORMATION
Item 1.  Legal Proceedings

None


Item 2.  Changes in Securities

None


Item 3.  Defaults under senior Securities

None


Item 4.  Submission of Matters to a Vote of Security Holders

None


Item 5.  Other Information.

None


Item 6.  Exhibits and Reports on Form 8-K

    (a)  Exhibits

         99.1   CERTIFICATE  PURSUANT  TO SECTION 906 OF THE  SARBANES-OXLEY ACT
                OF 2002


    (b)  Reports on Form 8-K

         None



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NORAM GAMING & ENTERAINMENT, INC. - 10QSB-QUARTERLY REPORT  Date Filed: 11/12/02
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                                   SIGNATURES

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


                                         NORAM GAMING & ENTERTAINMENT, INC.



    DATED: November 12, 2002
                                           /s/ George C. Zilba, Director
                                           -----------------------------
                                           George C. Zilba, Director









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                        NORAM GAMING & ENTERTAINMENT INC.
                   Sarbanes-Oxley Section 302(a) Certification


I, George Zilba Chief Executive Officer, certify that:


     1.   I have reviewed this Quarterly report on Form 10-QSB of Noram Gaming &
          Entertainment Inc.

     2.   Based on my  knowledge,  this  Quarterly  report  does not contain any
          untrue  statement of a material  fact or omit to state a material fact
          necessary to make the statements  made, in light of the  circumstances
          under which such  statements were made, not misleading with respect to
          the period covered by this Quarterly report;

     3.   Based on my knowledge,  the financial statements,  and other financial
          information  included in this Quarterly report,  fairly present in all
          material respects the financial  condition,  results of operations and
          cash flows of the registrant as of, and for, the periods  presented in
          this Quarterly report;

     4.   The registrant's  other certifying  officers and I are responsible for
          establishing  and maintaining  disclosure  controls and procedures (as
          defined in Exchange  Act Rules  13a-14 and 15d-14) for the  registrant
          and we have:


               a)   designed such  disclosure  controls and procedures to ensure
                    that  material   information  relating  to  the  registrant,
                    including its consolidated subsidiaries, is made known to us
                    by others  within those  entities,  particularly  during the
                    period in which this Quarterly report is being prepared;
               b)   evaluated the  effectiveness of the registrant's  disclosure
                    controls and procedures as of a date within 90 days prior to
                    the filing date of this  Quarterly  report (the  "Evaluation
                    Date"); and
               c)   presented in this Quarterly report our conclusions about the
                    effectiveness  of the  disclosure  controls  and  procedures
                    based on our evaluation as of the Evaluation Date;

     5.   The registrant's other certifying officers and I have disclosed, based
          on our most recent  evaluation,  to the registrant's  auditors and the
          audit  committee  of  registrant's  board  of  directors  (or  persons
          performing the equivalent functions):

               a)   all  significant  deficiencies in the design or operation of
                    internal   controls   which  could   adversely   affect  the
                    registrant's  ability  to  record,  process,  summarize  and
                    report   financial   data  and  have   identified   for  the
                    registrant's  auditors any material  weaknesses  in internal
                    controls;  and b) any fraud,  whether or not material,  that
                    involves   management   or  other   employees   who  have  a
                    significant role in the registrant's internal controls; and


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     6.   The  registrant's  other  certifying  officers and I have indicated in
          this Quarterly report whether or not there were significant changes in
          internal controls or in other factors that could significantly  affect
          internal   controls   subsequent  to  the  date  of  our  most  recent
          evaluation,   including   any   corrective   actions  with  regard  to
          significant deficiencies and material weaknesses.



Date:  November 12, 2002
       -----------------


/s/ George Zilba
Chief Financial Officer / Chief Executive Officer









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