NORAM GAMING & ENTERTAINMENT, INC.


                               Filing Type: 10QSB
                         Description: Quarterly Report
                         Filing Date: November 19, 2001
                          Period End: September 30, 2001
                    Primary Exchange: Over the Counter Bulletin Board
                                  Ticker: NORE


<PAGE>

                                  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, 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 of                             (IRS Employer
           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 September 30, 2001
------------------------------------       ------------------------------------
$.001 par value Class A Common Stock                  26,705,298













<PAGE>

                                TABLE OF CONTENTS



                                      10QSB

PART I................................................................         3
Item 1................................................................         3
Item 2................................................................         3
PART II...............................................................         4
Item 6................................................................         4
Independent Accountant's Review Report................................       F-1
Condensed Balance Sheets..............................................       F-2
Condensed Statements of Operations....................................       F-3
Condensed Statements of Cash Flows....................................       F-4
Notes to Condensed Financial Statements...............................       F-5






<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 nine
months ended September 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  September  30, 2001,  the Company had $115 cash in the bank.  There is no
certainty that the Company can meet its current financial commitments.

Net loss was $19,108 for the three months ended September 30, 2001 compared with
net loss of $26,897  for the same  period in 2000.  The  Company's  general  and
administrative  expenses  decreased  in 2001  due to the  Company  discontinuing
operations.

Net revenue was $0 for the three months ended  September  30, 2001 compared with
$800 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.

General  and  administrative  expenses  were $9,880 for the three  months  ended
September  30,  2001  compared  to  $24,244  for the same  period  in 2000 for a
decrease of 59%.  Depreciation and amortization expense was $3,860 for the three
months ended  September  30, 2001 compared to $2,058 for the same period in 2000
for an increase of 88%.  Interest  expense for the three months ended  September
30,  2001 was  $5,368  compared  to  $1,395  for the same  period in 2000 for an
increase of 285%.

Net loss was $77,919 for the nine months ended  September 30, 2001 compared with
net loss of $122,855  for the same  period in 2000.  The  Company's  general and
administrative expenses decreased in 2001 due to a decrease in operations.

Net sales was $0 for the nine months  ended  September  30, 2001  compared  with
$13,606  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
nine  months  ended  September  30, 2001 were $0 compared to $7,981 for the same
period in 2000 for a decrease of 100%.

General and  administrative  expenses  were  $65,232  for the nine months  ended
September  30,  2001  compared  to  $111,627  for the same  period in 2000 for a
decrease of 42%.  Depreciation and amortization  expense was $6,088 for the nine
months ended  September  30, 2001 compared to $6,174 for the same period in 2000
for a decrease of 1%.  Interest  expense for the nine months ended September 30,
2001 was $6,599  compared  to $10,679 for the same period in 2000 for a decrease
of 38%.



                                     Page 3


<PAGE>

                           PART II - OTHER INFORMATION

Item 6. Exhibits and Reports on Form 8-K

(a)  Exhibits
     99-1 Financial Statements as of September 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:  November 16, 2001       By:  /s/ George C. Zilba
                                         ---------------------------------------
                                         George C. Zilba, Director











                                     Page 4


<PAGE>

                             DIROCCO & DOMBROW, P.A.
                      3601 WEST COOMMERCIAL BLVD., SUITE 39
                            FORT LAUDERDALE, FL 33309
                                 (954) 731-8181

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

Board of Directors
Noram Gaming & Entertainment, Inc.
Miami, Florida

We have  reviewed the  accompanying  condensed  balance  sheet of Noram Gaming &
Entertainment,  Inc.  as  of  September  30,  2001  and  the  related  condensed
statements of operations for the three and nine months ended  September 30, 2001
and 2000 and the  statements  of cash flows for the nine months ended  September
30,  2001  and  2000  included  in  the  accompanying  Securities  and  Exchange
Commissions Form 10-QSB for the period ended September 30, 2001. These condensed
financial statements are the responsibility of the Company's management.

We conducted our reviews 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 reviews, 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 no  operations  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, 2000 and the related statements
of  operations,  stockholders'  equity  and cash  flows for the year  ended (not
presented herein).  In our report dated May 9, 2001, we expressed an unqualified
opinion on those financial statements. In our opinion, the information set forth
in the  accompany  condensed  balance  sheet as of December 31, 2000,  is fairly
stated,  in all material respects in relation to the balance sheet form which it
has be derived.




/s/ DiRocco & Dombrow, P.A.
November 14, 2001

Fort Lauderdale, FL







                                       F-1


<PAGE>


                       NORAM GAMING & ENTERTAINMENT, INC.
                            CONDENSED BALANCE SHEETS


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

ASSETS
  CURRENT ASSETS
    Cash                                       $       115      $       462
    Inventory                                      163,841          163,841
                                               -----------      -----------
               TOTAL CURRENT ASSETS                163,956          164,303

  PROPERTY AND EQUIPMENT                              --              6,088
                                               -----------      -----------

                                               $   163,956      $   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         102,943           90,442
    Accrued expenses                               113,616          107,960
    Accrued expenses - related parties             179,400          178,750
                                               -----------      -----------
               TOTAL CURRENT LIABILITIES           734,886          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                                     (3,428,484)      (3,350,565)
                                               -----------      -----------
               TOTAL STOCKHOLDERS' DEFICIT        (570,930)        (548,106)
                                               -----------      -----------

                                               $   163,956      $   170,391
                                               ===========      ===========


 See accompanying summary of notes to unaudited condensed financial statements.

                                      F-2

<PAGE>
<TABLE>
<CAPTION>

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

                                        Three months ended September 30,     Nine months ended September 30,
                                        --------------------------------     -------------------------------
                                            2001                2000             2001               2000
                                        ------------        ------------     ------------       ------------
<S>                                     <C>                 <C>              <C>                <C>

Net Sales                               $       --          $        800     $       --         $     13,606
Cost of Sales                                   --                  --               --                7,981
                                        ------------        ------------     ------------       ------------

               GROSS PROFIT                     --                   800             --                5,625

General and administrative expenses            9,880              24,244           65,232            111,627
Depreciation and amortization                  3,860               2,058            6,088              6,174
Interest expense                               5,368               1,395            6,599             10,679
                                        ------------        ------------     ------------       ------------
                                              19,108              27,697           77,919            128,480
                                        ------------        ------------     ------------       ------------


               NET LOSS                 $    (19,108)       $    (26,897)    $    (77,919)      $   (122,855)
                                        ============        ============     ============       ============

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

Weighted average number of common
  shares used to compute net loss per
  weighted average share                  26,705,298          20,137,671       26,469,414         17,929,226
                                        ============        ============     ============       ============
</TABLE>



 See accompanying summary of notes to unaudited condensed financial statements.

                                      F-3

<PAGE>

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

                                               Nine months ended September 30,
                                               -------------------------------
                                                 2001                  2000
                                               ---------             ---------

OPERATING ACTIVITIES
  Net loss                                     $ (77,919)            $(122,855)
  Adjustments to reconcile net loss to
    net cash used by operating activities:
      Stock issued for services and expenses      55,095                  --
      Depreciation                                 6,088                 6,174
  Changes in assets and liabilities:
      Inventory                                     --                 (52,504)
      Accounts receivable                           --                  (3,886)
      Accounts payable                              --                  65,396
      Accrued expenses                            15,306                95,819
                                               ---------             ---------
               NET CASH USED BY
                 OPERATING ACTIVITIES             (1,430)              (11,856)

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

FINANCING ACTIVITIES
      Loan proceeds                                3,500                  --
      Loan repayments                             (2,417)              (10,522)
                                               ---------             ---------
               NET CASH PROVIDED (USED) BY
                 FINANCING ACTIVITIES              1,083               (10,522)
                                               ---------             ---------

               INCREASE (DECREASE)  IN CASH         (347)                   51

Cash-beginning of period                             462                   429
                                               ---------             ---------

               CASH-END OF PERIOD              $     115             $     480
                                               =========             =========

SUPPLEMENTAL INFORMATION  Cash paid for:
  Interest                                     $     903             $   4,898
                                               =========             =========

 See accompanying summary of notes to unaudited condensed financial statements.

                                      F-4

<PAGE>

                       NORAM GAMING & ENTERTAINMENT, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                               SEPTEMBER 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 nine month period ended September 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 September  30, 2001 the Company had a deficit in working  capital of $570,930
and a loss from operations of $77,919.

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.


                                       F-5