Exhibit 10.1
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                  AMERICAN BINGO ANNOUNCES CONTRACTUAL CHANGES
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     American  Bingo  & Gaming Corporation (NASDAQ Sm Cap - BNGO) announces that
it has terminated its contractual relationship  with  Mims & Dye Enterprises and
has  entered  into  a  new  contract  with  Consolidated  Gaming Company, LLC of
Columbia,  South Carolina  to  operate  a  portion of the Company's video gaming
machines.  The effective  date  of  both  actions  was  Monday,  10  April 2000.

     The  Mims & Dye Enterprises contract (initiated in late 1998) originated to
convert the Company's wholly owned video gaming machine casino operations into a
"route"  arrangement  whereby the Company received a fixed percentage of revenue
and Mims & Dye was responsible for all operating expenses.  This arrangement was
made  unworkable  by  the South Carolina Supreme Court's Gentry Case ruling that
had  the  affect  of  diminishing revenue industry wide by approximately 30-35%.
This  arrangement  was  altered in late 1999 whereby American Bingo received all
net  operating  income  and Mims & Dye received reimbursement of their operating
expenses.

     Michael  Mims  had  been  a Director of the Company when American Bingo and
Mims  &  Dye  Enterprises entered into this contract in late 1998.  At the time,
Mims  was  among  the  largest shareholders of the Company's common stock.  Mims
resigned  as  a  Director  in  July of 1999 and has subsequently disposed of the
majority  of  his  shareholding  in  American  Bingo.

     The new  contract  with  Consolidated  Gaming  Company,  LLC provides for a
revenue sharing  arrangement  dependant  solely upon  Consolidated's  ability to
increase revenue and reduce expenses.

     Three important elements of Consolidated's contract are:

     1. 1. a right granted to  Consolidated  to acquire all of American  Bingo's
     video gaming machines as they cease operations in South Carolina during the
     period 31 May to 30 June 2000 on a basis determined by American Bingo to be
     favorable to its shareholders;


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     2. 2. a right to broker the sale of the Company's  video gaming machines to
     third parties on a "success fee" brokerage commission basis; and,

     3. 3. the duty to secure, transport,  deliver and store the Company's video
     gaming machines as directed by American Bingo.

     In  commenting upon the contractual changes, Jeffrey L Minch, the President
of  American  Bingo  said:

     "THE TERMINATION OF THE MIMS & DYE CONTRACT IS A NATURAL  CONCLUSION TO THE
     IMPENDING  CESSATION OF VIDEO GAMING IN SOUTH CAROLINA LATER THIS YEAR. THE
     PRINCIPALS OF MIMS & DYE ARE UNDERSTANDABLY INTERESTED IN MOVING ON TO MORE
     ATTRACTIVE BUSINESS OPPORTUNITIES.  THIS ACTION IS NOT TAKEN BECAUSE OF ANY
     PROBLEMS BUT RATHER A  RECOGNITION  THAT THE ABSENCE OF A PROFIT MOTIVE FOR
     BOTH PARTIES SAPS THE  RELATIONSHIP  OF THE REQUISITE  ENERGY  NECESSARY TO
     CREATE BUSINESS SUCCESS.

     THE NEW CONTRACT WITH  CONSOLIDATED  GAMING INJECTS A FRESH PERSPECTIVE AND
     ENERGY INTO THE  OPERATIONS  AND PROVIDES  AMERICAN  BINGO WITH A POTENTIAL
     PURCHASER OF ALL OF ITS VIDEO GAMING MACHINES AS WELL AS THE OPPORTUNITY TO
     SELL ITS MACHINES TO THIRD PARTIES WITHOUT INCURRING UNDUE SELLING EXPENSE.

     CONSOLIDATED GAMING WILL SECURE, TRANSPORT, DELIVER AND STORE THE COMPANY'S
     VIDEO GAMING  MACHINES AT THE DIRECTION OF AMERICAN BINGO THEREBY  ALLOWING
     THE  COMPANY  TO  SAFEGUARD  THESE  ASSETS  UNTIL  CONVERTED  INTO  CASH OR
     OTHERWISE DISPOSED OF."

     American  Bingo  is  engaged in the development and operation of charitable
bingo  halls.  Qualified  charities  are  able  to  fund  their worthy causes by
offering  consumers entertainment in the form of bingo games - subject to strict
regulatory  oversight  -  for which the charities pay rent to American Bingo for
the  use  of  the  facility subject to long standing leases.  American Bingo has
relationships  with  over  60  such  charities.


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     Charities playing in American Bingo halls received approximately $3,200,000
in  1999  to  fund  their  noble  causes.

     American  Bingo  is  the  only  public  company attempting to strategically
consolidate  this  $12,000,000,000  arcane,  niche industry and is currently the
largest  public  company  operating charitable bingo halls in the United States.
American  Bingo  operates  twenty  (20)  bingo halls in Texas, Alabama and South
Carolina  and  is  currently  developing two (2) new bingo halls in Alabama that
will  commence  operations  in  2000.


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