|   | X | QUARTERLY      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|---|---------------------------------------------------------------------------------------------|

|   | X | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE  ACT |
|--------|---|-----------------------------------------------------------------------|

|                                                                    |   |                                       |
|-------------------------------------------------------------------------|--------|--------------------------------------------|
| Nevada                                                                  |   | 75-3225181                                 |
| (State      or other jurisdiction ofincorporation      or organization) |   | (IRS      EmployerIdentification      No.) |

| Large      accelerated filer                                                                                            |   | Accelerated      filer                        |
|------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|
| Non-accelerated      filer  (Do not check if a smaller reporting company)  |   | Smaller reporting      company    X |

----

| PART      I. FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      1. Financial      Statements                                                                                                                                                                                            | 3      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      2. Management’s Discussion and Analysis of Financial Condition and Results      of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 14     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      3. Quantitative and Qualitative Disclosures About Market    Risk                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 16     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      4T. Controls and      Procedures                                                                                                                                                     | 16     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| PART      II. OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      1. Legal      Proceedings                                                                                                                                                  | 16     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      1A. Risk      Factors                                                                                                                                                      | 16     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      2. Unregistered Sales of Equity Securities and Use of    Proceeds                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      3. Defaults upon Senior      Securities                                                                                                                                         | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      4. Submission of Matters to a Vote of Security Holders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      5. Other      Information                                                                                                                                                  | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      6.      Exhibits                                                                                                                                                                          | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| SIGNATURES                                                                                                                                        | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |

----

|                                                |
|-----------------------------------------------------|
| ROTATE      BLACK, INC. AND SUBSIDIARY              |
|  (A      Development Stage Company)            |
|  CONSOLIDATED      BALANCE SHEET               |
|                                                |
|                                                |
|                                                |   |   |   | September      30, |   |   | June      30, |
|                                                |   |   |   | 2009 |   |   | 2009 |
|                                                |   |   |   | (Unaudited) |   |   |   |   |
| ASSETS                                              |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
| Current      Assets                                 |   |   |   |   |   |   |   |   |
|                                                | Cash |   |   | $ |                 1,253 |   |   | $ |                15,453 |
|                                                | Prepaid      expenses |   |   |   |            112,442 |   |   |   |                88,902 |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                | Total      current assets |   |   |   |            113,695 |   |   |   |             104,355 |
|                                                |   |   |   |   |   |   |   |   |   |
| Unbilled      development advances                  |   |   |   |         2,169,759 |   |   |   |          2,069,499 |
| Fixed      assets - net                             |   |   |   |               47,690 |   |   |   |                49,179 |
| Contract      rights                                |   |   |   |         6,323,884 |   |   |   |          6,323,884 |
| Intangible      assets                              |   |   |   |            374,265 |   |   |   |             374,265 |
| Investment      in joint venture                    |   |   |   |            139,781 |   |   |   |             139,781 |
| Land      purchase deposit                          |   |   |   |         7,049,142 |   |   |   |          7,049,142 |
| Security      deposit                               |   |   |   |                 3,600 |   |   |   |                  3,600 |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |  TOTAL      ASSETS |   |   |  $ | 16,221,816 |   |   |  $ | 16,113,705 |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY (DEFICIT) |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
| Current      liabilities                            |   |   |   |   |   |   |   |   |
|                                                | Accounts      payable and accrued expenses |   |   | $ | 1,883,625 |   |   | $ | 1,761,367 |
|                                                | Note      payable |   |   |   | 243,000 |   |   |   | 268,000 |
|                                                | Note      payable - truck - current portion |   |   |   |                 5,333 |   |   |   |                  5,213 |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                | Total      current liabilities |   |   |   |         2,131,958 |   |   |   |          2,034,580 |
|                                                |   |   |   |   |   |   |   |   |   |
| Note      payable - truck                           |   |   |   |               11,350 |   |   |   |                12,628 |
| Loan      payable - stockholder                     |   |   |   |         1,707,600 |   |   |   |          1,675,932 |
| Deferred      revenues                              |   |   |   |               48,321 |   |   |   |                47,078 |
| Shares      to be issued                            |   |   |   |         3,995,467 |   |   |   |          3,995,467 |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                | TOTAL      LIABILITIES |   |   |   |         7,894,696 |   |   |   |          7,765,685 |
|                                                |   |   |   |   |   |   |   |   |   |
| MINORITY      INTEREST                              |   |   |   |         1,125,038 |   |   |   |          1,130,114 |
|                                                |   |   |   |   |   |   |   |   |   |
| STOCKHOLDERS'  EQUITY      (DEFICIT)      |   |   |   |   |   |   |   |   |
|                                                | Common      stock, $0.01 par value, 100,000,000 |   |   |   |   |   |   |   |
|                                                |     shares      authorized; 67,696,858 and 67,321,858 |   |   |   |   |   |   |
|                                                |     shares      issued and outstanding as of |   |   |   |   |   |   |   |   |
|                                                |     September      30, 2009 and June 30, 2009, |   |   |   |   |   |   |   |   |
|                                                |      respectively |   |   |   |            676,969 |   |   |   |             673,219 |
|                                                | Additional      paid-in capital |   |   |   |         8,705,435 |   |   |   |          8,334,185 |
|                                                | Accumulated      deficit |   |   |   | (2,180,322) |   |   |   | (1,789,498) |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |  TOTAL      STOCKHOLDERS' EQUITY (DEFICIT) |   |   |         7,202,082 |   |   |   |          7,217,906 |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |  TOTAL      LIABILITIES AND |   |   |   |   |   |   |   |   |
|                                                |       STOCKHOLDERS'      EQUITY (DEFICIT) |   |   |  $ |       16,221,816 |   |   |  $ |        16,113,705 |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |
| See      notes to  financial statements   |   |

----

| ROTATE      BLACK, INC. AND SUBSIDIARY            |
|---------------------------------------------------|
| (A      Development Stage Company)                |
| CONSOLIDATED      STATEMENT OF OPERATIONS         |
| (UNAUDITED)                                       |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   | August      2, 2006 |
|                                              |   |   | Three      Months Ended |   | (Inception) |
|                                              |   |   | September  30, |   | Through |
|                                              |   |   | 2009 |   | 2008 |   | September      30, 2009 |
| Operating      expenses                           |   |   |   |   |   |   |
|                                              | Salary      expense |   |  $              51,450 |   |  $        82,409 |   |  $                    163,688 |
|                                              | Stock      based compensation |   |                  75,000 |   |          735,870 |   |                        841,570 |
|                                              | General      and administrative expenses |   |                256,875 |   |          100,522 |   |                        962,962 |
|                                              | Write-off      deferred expenses |   |                         - |   |                  - |   |                      233,960 |
|                                              | Interest      expense |   |                  12,575 |   |                  - |   |                         52,119 |
|                                              |   |   |   |   |   |   |   |
|                                              |      Total      expenses |   |               395,900 |   |         918,801 |   |                   2,254,299 |
|                                              |   |   |   |   |   |   |   |
|                                              |      Loss      from operations |   |             (395,900) |   |       (918,801) |   |                  (2,254,299) |
|                                              |   |   |   |   |   |   |   |
| Minority      interest                            |   |                    5,076 |   |     - |              |                         73,977 |
|                                              |   |   |   |   |   |   |   |
|                                              |       Net      loss |   |  $         (390,824) |   |  $   (918,801) |   |  $              (2,180,322) |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              | Basic      and diluted net loss per common share |  $               (0.01) |   |  $         (0.09) |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              | Basic      and diluted average |   |   |   |   |   |   |
|                                              |     common      shares outstanding |   |          67,451,528 |   |    10,425,714 |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |
| See      notes to  financial statements |   |

----

| ROTATE      BLACK, INC. AND SUBSIDIARY                                         |
|--------------------------------------------------------------------------------|
| (A      Development Stage Company)                                             |
| CONSOLIDATED      STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) |
|                                                                           |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           |   |   | Common      Stock |   |   | Additional | Stock |   |   |   |   |   |   |
|                                                                           |   |   | Number      of |   |   | Paid-in |   |   | Subscription | Accumulated |
|                                                                           |   |   | Shares |   |   | Amount |   |   | Capital |   |   | Receivable | Deficit |   |   | Total |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| August      2, 2006 - Stock subscription receivable                            | 100 |   | $ | 1 |   | $ | 99 |   | $ | (100) |   | $ | - |   | $ | - |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss - June 30, 2007                                                  | - |   |   | - |   |   | - |   |   | - |   |   | (3,433) |   |   | (3,433) |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      - June 30, 2007                                                   | 100 |   |   | 1 |   |   | 99 |   |   | (100) |   |   | (3,433) |   |   | (3,433) |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss - June 30, 2008                                                  | - |   |   | - |   |   | - |   |   | - |   |   | (2,755) |   |   | (2,755) |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      - June 30, 2008                                                   | 100 |   |   | 1 |   |   | 99 |   |   | (100) |   |   | (6,188) |   |   | (6,188) |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| August      15, 2008 - Common stock issued in                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | connection      with the acquisition of BevSystems | 1,000,000 |   |   | 10,000 |   |   | 47,009 |   |   |                      - |   |   |                      - |   |   | 57,009 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| August      15, 2008 - Common stock issued in                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | payment      of due to stockholder | 8,999,900 |   |   | 89,999 |   |   | 422,980 |   |   | 100 |   |   |                      - |   |   | 513,079 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| August      21, 2008 - Common stock issued in                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | connection      with employment agreements | 8,300,000 |   |   | 83,000 |   |   | 390,100 |   |   |                      - |   |   |                      - |   |   | 473,100 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| August      27, 2008 - Common stock issued in                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | connection      with services rendered | 4,610,000 |   |   | 46,100 |   |   | 216,670 |   |   |                      - |   |   |                      - |   |   | 262,770 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| October      3, 2008 - Purchase of Rotate Black                                |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | Gaming,      Inc. | 26,560,000 |   |   | 265,600 |   |   | 3,331,444 |   |   |                      - |   |   |                      - |   |   | 3,597,044 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| October      7, 2008 - Purchase of Dayton assets                               | 5,480,900 |   |   | 54,809 |   |   |          164,345 |   |   |                      - |   |   |                      - |   |   |          219,154 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| October      7, 2008 - Purchase of interest in joint                           |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | venture | 8,400,000 |   |   | 84,000 |   |   |             52,121 |   |   |                      - |   |   |                      - |   |   |          136,121 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| November      16, 2008 - Common stock issued in                                |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | connection      with consulting agreement | 100,000 |   |   | 1,000 |   |   | 4,700 |   |   |                      - |   |   |                      - |   |   |               5,700 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| November      and December, 2008 - Common stock                                |   |   |   |   |   |   |   |   |   |
|                                                                           | sold      for cash | 114,000 |   |   | 1,140 |   |   | 55,860 |   |   |                      - |   |   |                      - |   |   |             57,000 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December      23, 2008 - Common stock issued in                                |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | payment      of due to stockholder | 48,283 |   |   | 483 |   |   | 2,269 |   |   |                      - |   |   |                      - |   |   |               2,752 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| January,      February and March, 2009 - Common                                |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | stock      sold for cash | 285,000 |   |   | 2,850 |   |   | 282,150 |   |   |                      - |   |   |                      - |   |   |          285,000 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| January      2, 2009 - Common stock issued in                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | connection      with consulting agreement | 50,000 |   |   | 500 |   |   | 24,500 |   |   |                      - |   |   |                      - |   |   |             25,000 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| May      11, 2009 - Common stock issued in                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | connection      with land purchase | 3,153,675 |   |   | 31,537 |   |   | 3,122,138 |   |   |                      - |   |   |                      - |   |   |       3,153,675 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| April,      May and June, 2009 - Common                                        | 220,000 |   |   | 2,200 |   |   | 217,800 |   |   |                      - |   |   |                      - |   |   |          220,000 |
|                                                                           | stock      sold for cash |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss - June 30, 2009                                                  |                      - |   |   |                      - |   |   |                      - |   |   |                      - |   |   |     (1,783,310) |   |   | (1,783,310) |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      at June 30, 2009                                                  | 67,321,858 |   |   | 673,219 |   |   | 8,334,185 |   |   |                      - |   |   |     (1,789,498) |   |   | 7,217,906 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| September      15, 2009 - Common stock issued in                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | connection      with consulting agreement | 75,000 |   |   | 750 |   |   | 74,250 |   |   |                      - |   |   |                      - |   |   |             75,000 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| July,      August and September, 2009 - Common                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           | stock      sold for cash | 300,000 |   |   | 3,000 |   |   | 297,000 |   |   |                      - |   |   |                      - |   |   |          300,000 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss - September 30, 2009                                             |                      - |   |   |                      - |   |   |                      - |   |   |                      - |   |   |         (390,824) |   |   | (390,824) |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      at September 30, 2009 (Unaudited)                                 | 67,696,858 |   | $ | 676,969 |   | $ | 8,705,435 |   | $ |                      - |   | $ | (2,180,322) |   | $ | 7,202,082 |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| See      notes to  financialstatements                               |

----

|  ROTATE      BLACK, INC. AND  SUBSIDIARY                                      |
|----------------------------------------------------------------------------------------------|
|  (A      Development Stage Company)                                                     |
|  CONSOLIDATED  STATEMENT      OF CASH FLOWS                                   |
|  (UNAUDITED)                                                                            |
|                                                                                         |   |   |   |   |   |
|                                                                                         |   |   |   |   | August      2, 2006 |
|                                                                                         | Three      Months Ended |   | (Inception) |
|                                                                                         | September      30, |   | Through |
|                                                                                         | 2009 |   | 2008 |   | September      30, 2009 |
|                                                                                         |   |   |   |   |   |
|  CASH      FLOWS FROM OPERATING ACTIVITIES                                              |   |   |   |   |   |
|  Net      loss                                                                          |  $                           (390,824) |   |  $             (918,801) |   |  $                         (2,180,322) |
|  Adjustments      to reconcile net loss to net cash                                     |   |   |   |   |   |
|  used      in operating activities:                                                     |   |   |   |   |   |
|      Stock-based      compensation                                  |                           75,000 |   |                   735,870 |   |                          841,570 |
|      Write-off      of deferred expenses                            |                                    - |   |                               - |   |                          233,960 |
|      Depreciation      and amortization                             |                             5,356 |   |                       1,337 |   |                            21,852 |
|      Minority      interest                                         |                           (5,076) |   |                               - |   |                          (73,977) |
|  Changes      in assets and liabilities:                                                |   |   |   |   |   |
|      Prepaid      expenses                                          |                     (23,540) |   |                   (42,350) |   |                        (8,450) |
|      Unbilled      development advances                             |                   (100,260) |   |                               - |   |                    (758,248) |
|      Accounts      payable and accrued expenses                     |                     122,258 |   |                     60,121 |   |                      654,055 |
|      Deferred      revenues                                         |                         1,243 |   |                               - |   |                        14,504 |
|                                                                                         |   |   |   |   |   |
|  Net      cash used in operating activities                                             |                               (315,843) |   |                 (163,823) |   |                             (1,255,056) |
|                                                                                         |   |   |   |   |   |
|  CASH      FLOWS FROM INVESTING ACTIVITIES                                              |   |   |   |   |   |
|  Investment      in BevSystems and increase in                                          |   |   |   |   |   |
|       deferred      acquisition costs (net of                  |   |   |   |   |   |
|       the      issuance of common stock of $57,009             |                                            - |   |                 (228,151) |   |                                (317,256) |
|  Purchases      of fixed assets (net of note payable                                    |   |   |   |   |   |
|       of      $20,800 in 2008)                                 |                                   (3,867) |   |                   (43,165) |   |                                  (48,742) |
|      Security      deposit                                          |                                            - |   |                     (3,600) |   |                                    (3,600) |
|      Investment      in joint venture                               |                                            - |   |                               - |   |                                    (3,660) |
|      Increase      in deferred expenses                             |                                - |   |                               - |   |                      (14,806) |
|                                                                                         |   |   |   |   |   |
|  Net      cash used in investing activities                                             |                                   (3,867) |   |                 (274,916) |   |                                (388,064) |
|                                                                                         |   |   |   |   |   |
|  CASH      FLOWS FROM FINANCING ACTIVITIES                                              |   |   |   |   |   |
|      Increase      in loan payable - stockholder                    |                       31,668 |   |                   438,739 |   |                      811,490 |
|  Proceeds      from sales of  common stock                                    |                                 300,000 |   |                               - |   |                                  862,000 |
|      Decrease      in note payable                                  |                                 (25,000) |   |                               - |   |                                  (25,000) |
|  Payments      of note payable - truck                                                  |                               (1,158) |   |                               - |   |                                (4,117) |
|                                                                                         |   |   |   |   |   |
|  Net      cash provided by investing activities                                         |                                 305,510 |   |                   438,739 |   |                               1,644,373 |
|                                                                                         |   |   |   |   |   |
|  Net      increase (decrease) in cash                                                   |                                 (14,200) |   |                                              - |   |                                      1,253 |
|                                                                                         |   |   |   |   |   |
|  Cash,      beginning of period                                                         |                                   15,453 |   |                                         - |   |                                              - |
|                                                                                         |   |   |   |   |   |
|  Cash,      end of period                                                               |  $                                 1,253 |   |  $                           - |   |  $                                  1,253 |
|                                                                                         |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |
|  Noncash      Transaction                                                               |   |   |   |   |   |
|      Issuance      of common stock in payment of due to stockholder |   |  $               513,079 |   |   |
|                                                                                         |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |
|  See      notes to financial statements                                                 |

----

| Development      advances                  | $      | 1,411,511                                                                        |
|--------------------------------------------|--------|----------------------------------------------------------------------------------|
| Other      current assets                  |   | 3,992                                                                            |
| Land                                       |   | 556,000                                                                          |
| Contract      rights                       |   | 5,767,884                                                                        |
| Accounts      payable and accrued expenses |   | (1,229,570)                                                                      |
| Loan      payable – stockholder      |   | (1,411,941)                                                                      |
| Note      payable                          |   | (268,000)                                                                        |
| Deferred      revenue                      |   |             (33,817) |
|                                       |   | 4,796,059                                                                        |
| Less:  Minority      interest    |   |        (1,199,015)                            |
|                                       | $      |       3,597,044                                    |

----

----

| Truck                              | $      | 39,761       |
|------------------------------------|--------|--------------|
| Furniture      and fixtures        |   | 8,490        |
| Office      equipment              |   | 21,291       |
|                               |   | 69,542       |
| Less      accumulated depreciation |   | (21,852)     |
|                               | $      |  47,690 |

----

----

| Total      Assets                 | NONE      |   |
|-----------------------------------|-----------|--------|
|                              |      |   |
| Capital      Contribution         | $272,242  |   |
| Deficit                           | (272,242) |   |
|                              |      |   |
| Total      assets and liabilities | NONE      |   |

|   |   |   |   | 2010                                                                  |  $5,333  |   |   |   |   |   |
|--------|--------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|--------|--------|--------|--------|--------|
|   |   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                       |          |   |   |   |   |   |
|   |   |   |   | 2011                                                                       |  5,415   |   |   |   |   |   |
|   |   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                       |          |   |   |   |   |   |
|   |   |   |   | 2012                                                                  |  5,935   |   |   |   |   |   |
|   |   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                       |          |   |   |   |   |   |
|   |   |   |   |                                                                                                                                                                                                                                                                                                                            |  $16,683 |   |   |   |   |   |

----

| Minority      interest upon acquisition of Gaming | $      | (1,199,015) |
|---------------------------------------------------|--------|-------------|
| Loss      allocable to minority interest          |   | 73,977      |
| Minority      interest, September 30, 2009        | $      | (1,125,038) |

----

| -   | nonrefundable      retainer of $25,000, payable $10,000 upon execution and $15,000 upon      completion of a term sheet, reimbursable against expenses due to      Agent; |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | 6%      of the maximum amount of any debt securities, including the face value of      any committed line of credit, payable at  closing; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| -   |  a      warrant to purchase common shares of the Company equal to 3% of the number      of shares issued of any maximum credit available in any debt obligations      or other financings, divided by the closing price of the Company's stock      price on the day of closing, as defined.  The warrant will be      exercisable at the minimum exercise price of any warrants received by      investors in the financing or, in the absence of any warrant issuance, the      closing price for the common stock of the Company on the day of the      closing for five years. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Item 2. | Management’s      Discussion and Analysis of Financial Condition and Results of      Operation |
|--------------|------------------------------------------------------------------------------------------------------|

----

| -   | nonrefundable      retainer of $25,000, payable $10,000 upon execution and $15,000 upon      completion of a term sheet, reimbursable against expenses due to      Agent; |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | 6%      of the maximum amount of any debt securities, including the face value of      any committed line of credit, payable at  closing; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| -   |  a      warrant to purchase shares of our common stock equal to 3% of the number      of shares issued of any equity financing and maximum credit available in      any debt obligations or other financings, divided by the closing price of      the our common stock price on the day of closing, as      defined.  The warrant will be exercisable at the minimum      exercise price of any warrants received by investors in the financing or,      in the absence of any warrant issuance, the closing price of our common      stock on the day of the closing for fiveyears. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Item 3. | Quantitative      and Qualitative Disclosures about MarketRisk |
|--------------|----------------------------------------------------------------|

| Item 4(T). |  Controls      and Procedures |
|-----------------|------------------------------------|

Evaluation of Disclosure Controls andProcedures  

----

| 31.1        |   | Certification      of Principal Executive Officer pursuant to Rule 13a-15(a) and Rule 15d-                                                                                                   |
|------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|             |   | 15(a),      promulgated under the Securities Exchange Act of 1934, as amended.                                                                                                               |
|             |   |                                                                                                                                                                                              |
| 31.2        |   | Certification      of Principal Financial Officer pursuant to Rule 13a-15(a) and Rule 15d-                                                                                                   |
|             |   | 15(a),      promulgated under the Securities Exchange Act of 1934, as amended.                                                                                                               |
|             |   |                                                                                                                                                                                              |
| 32.1        |   | Certification      of Chief Executive Officer and Chief Financial Officer Pursuant to 18      U.S.C.Section      1350, as adopted pursuant to Section 302 of The Sarbanes-Oxley Act of      2002. |

SIGNATURES

|                   |   |                                |   |                                                                                                                    |
|------------------------|--------|-------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------|
|                   |   | ROTATE      BLACK, INC.(Registrant) |
|                   |   |                                |
| November      16, 2009 |   | By:                                 |   |  /s/      John Paulsen                                                                                             |
|                   |   |                                |   | John      Paulsen                                                                                                       |
|                   |   |                                |   | Chief      Executive Officer(Authorized      Officer, Principal Executive Officer and Principal Financial      Officer) |

----