<PAGE>
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                FORM 10-QSB/A-1


         [ X ]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
               For the quarterly period ended September 30, 1999

                                      OR

        [  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                                 EXCHANGE ACT
                       For the transition period from to

                        Commission file number 0-15415

                             GLOBAL CASINOS, INC.
            ------------------------------------------------------
            (Exact Name of Registrant as Specified in its Charter)

     Utah                                                      87-0340206
----------------------------                                ---------------
(State or other jurisdiction                                I.R.S. Employer
of incorporation or organization)                           Identification
number

       5373 N. Union Blvd., Suite 100 Colorado Springs, Colorado  80918
    -----------------------------------------------------------------------
          (Address of Principal Offices)                    (Zip Code)

       Registrant's telephone number, including area code:(719) 590-4900

Check whether the Issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the last 12 months (or for such shorter
period that the Registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.  Yes  [ X ] No
[    ]

As of November 22, 1999 1,546,360 shares of Common Stock of the Registrant
were outstanding.

Transitional Small Business Disclosure Format (check one) Yes [ ] No [X]



<PAGE>
<PAGE>
                                     INDEX

PART 1.   FINANCIAL INFORMATION:

     Item 1.  Financial Statements

          Balance Sheets at September 30, 1999 (unaudited) and June 30, 1999

          Statements of Operations for the Three Months Ended September 30,
          1999 (unaudited) and September 30,1998 (unaudited)

          Statements of Cash Flows for the Three Months Ended September 30,
          1999 (unaudited) and September 30,1998 (unaudited)

          Notes to Unaudited Financial Statements

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

PART II.  OTHER INFORMATION


<PAGE>
<PAGE>
PART 1.   FINANCIAL INFORMATION

Item 1.   Financial Statements

The consolidated financial statements included herein have been prepared by
Global Casinos, Inc. ("the Company", "Global") without audit, pursuant to the
rules and regulations of the Securities and Exchange Commission (SEC).
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting
principles have been omitted pursuant to such SEC rules and regulations.  In
the opinion of management of the Company the foregoing statements contain all
adjustments necessary to present fairly the financial position of the Company
as of September 30, 1999, and its results of operations and its cash flows for
the three months ended September 30, 1999 and  1998. The Company's balance
sheet as of September 30, 1999 included herein has been derived from the
Company's audited financial statements as of that date included in the
Company's annual report on Form 10-KSB. The results for these interim periods
are not necessarily indicative of the results for the entire year.  The
accompanying financial statements should be read in conjunction with the
financial statements and the notes thereto filed as a part of the Company's
annual report on Form 10-KSB.


<PAGE>
<PAGE>
                          CONSOLIDATED BALANCE SHEETS
                                (In Thousands)
<TABLE>
<CAPTION>

                                        September 30,    June 30,
                                            1999           1999
                                       --------------  ------------
                                         (unaudited)
<S>                                      <C>           <C>
    ASSETS
Current assets:
 Cash                                           460           505
 Accounts receivable:
   Trade, net of allowance for doubtful
   accounts of $88 at September 30 and
   June 30, 1999                                408           386
 Related parties                                  3            22
 Inventory                                      225           260
 Prepaid rent                                    90           116
 Current portion of notes receivable             66           156
 Marketable trading securities                  755           851
 Property rights held for sale                  200           200
 Other                                          127            67
                                         -----------   -----------
   Total current assets                       2,333         2,563

Land, building and improvements and equipment:
 Land                                           518           518
 Buildings and improvements                   4,081         4,072
 Equipment                                    2,533         2,027
                                              7,132         6,617
 Accumulated depreciation                   (2,014)        (1,872)
                                        ------------  ------------
                                              5,118         4,745
Other assets:
 Leasehold rights and interests and contract
   rights, net of amortization of $917 and
   $848 at September 30 and June 30, 1999     1,373         1,441
 Goodwill, net of amortization of $313 and
   $276 at September 30 and June 30, 1999     1,852         1,888
 Hotel credits                                  500           493
 Notes receivable, net of current portion,
   including receivables in default             192           197
 Other assets, net of amortization of $26 at
   September 30 and June 30, 1999                46            25
 Restricted cash                                140           140
                                        ------------  ------------
                                              4,103         4,184
                                        ============  ============

                                             11,554        11,492


   LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Accounts payable, including $60 and
   $82 to a related party at September 30
   and June 30, 1999                            414           506
 Accrued expenses:
   Wages and taxes                              463           570
   Casino license fees                        1,278         1,169
   Interest, including $27 and $14 to
related parties at September 30 and
   June 30, 1999                                332           308
   Other                                        498           265
 Note payable                                   262           301
 Current portion of long-term debt,
   including debt in default and
   $514 and $439 to related parties at
   September 30 and June 30, 1999             1,819         1,712
 Other                                           40            40
                                       -------------   -----------
   Total current liabilities                  5,106         4,871

Long-term debt, less current portion          2,782         2,580

Commitments and contingencies

Stockholders' equity:
 Preferred stock - convertible:
   10,000,000 shares authorized
 Class A - $2 par value, nonvoting,
   96,500 shares issued and outstanding         193            193
 Class B - $.01 par value, nonvoting,
   283,801 and 296,329 shares issued
   and outstanding at September 30 and
   June 30, 1999                                  3             3
 Class C - $.01 par value, voting;
   487,172 shares issued and outstanding          5             5
 Common stock - $.05 par value; 50,000
   shares authorized; 1,546,360 shares
   issued and outstanding                        77            77
 Additional paid-in capital                  12,790        12,915
 Accumulated deficit                         (9,401)       (9,152)
                                        ------------   -----------
                                              3,667         4,041
                                        ============   ===========
                                             11,554        11,492
</TABLE>
                            See accompanying notes.

<PAGE>
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                    FOR THE THREE MONTHS ENDED SEPTEMBER 30
                                  (Unaudited)
                                (In Thousands)
<TABLE>
<CAPTION>

                                            1999           1998
                                            ----           ----
<S>                                          <C>            <C>
Revenues:
 Casino                                       1,154         1,305
 Bingo                                          930           815
 Food and beverage                               32            27
 Other                                           34           117
                                         -----------   -----------
                                              2,150         2,265
Expenses:
 Cost of sales                                  524           437
 Operating, general, and administrative       1,494         1,836
  Depreciation and amortization                 247           181
                                        ------------   -----------
                                              2,264         2,454

Loss from operations                           (115)         (189)
Other income (expense):
 Interest income                                 13             7
 Interest expense, including $13 and $12
   to related parties at September 30,
   1999 and 1998                               (125)         (116)
 Realized gain on sale of marketable
   securities                                   121             0
 Adjustment to market value of
   marketable securities                       (129)            0
                                        ------------  ------------
                                               (120)         (109)

Loss before extraordinary item                 (234)         (297)
Extraordinary item - gain from
 restructuring of debt                           57
                                        ------------  ------------
Net loss                                       (178)         (297)
Dividends on Class B and C preferred
 stock                                          (72)          (65)
                                        ------------  ------------
Net loss available to common stockholders      (250)         (362)

Loss per common share - basic and diluted:
  Loss from continuing operations             (0.19)        (0.24)
  Extraordinary item                           0.03
                                        ------------   -----------
Net loss available to common stockholders     (0.16)        (0.24)

Weighted average shares outstanding       1,546,360     1,504,461

</TABLE>

                            See accompanying notes.


<PAGE>
<PAGE>
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                    FOR THE THREE MONTHS ENDED SEPTEMBER 30
                                  (Unaudited)
                                (In Thousands)
<TABLE>
<CAPTION>
                                            1999           1998
                                            ----           ----
<S>                                          <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES
 Net cash provided by operating
   activities                                    35            89

CASH FLOWS FROM INVESTING ACTIVITIES
 Purchase of equipment                          (59)         (130)
 Collections on note receivable                  47            16
 Issuance of note receivable                    (75)            0
 Purchases of marketable trading securities    (205)            0
 Sales of marketable trading securities         399             0
                                          ----------   -----------
 Net cash provided by (used in)
   investing activities                         107          (115)

CASH FLOWS FROM FINANCING ACTIVITIES
 Principal payments of long-term debt          (316)          (54)
 Issuances of long-term debt                    343            54
 Principal payments of notes payable            (39)          (28)
 Payment of mandatory redeemable preferred
   stock                                         (3)
 Redemption of Class B preferred stock         (125)         (115)
 Payment of dividends on Class B preferred
   stock                                        (49)          (55)
 Net cash used in financing activities         (187)         (200)
                                         -----------   -----------

   Net (decrease) increase in cash              (45)         (226)

Cash at beginning of year                       505           863
                                         -----------   -----------

Cash at end of year                             460           637

SUPPLEMENTAL CASH FLOW INFORMATION:
 Cash paid for interest                          75            65

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING
AND FINANCING ACTIVITIES:
 Mandatory redeemable preferred stock
   converted to common stock                                    4
 Note receivables in payment of debt                          124
 Fixed assets acquired through debt                           457
 Dividends accrued on Class B and Class C
   preferred stock                               23            10

</TABLE>

                            See accompanying notes.



<PAGE>
<PAGE>
                      GLOBAL CASINOS, INC. & SUBSIDIARIES
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                              SEPTEMBER 30, 1999
                                  (Unaudited)

1.   ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

     The Consolidated Financial Statements for the three months ended
September 30, 1999 and 1998 have been prepared in accordance with the
accounting policies described in the Company's annual report on Form 10-KSB.
Management believes the statements include all adjustments of a normal
recurring nature necessary to present fairly the results of operations for the
interim periods.

     At September 30, 1999, and for the three months ended September 30, 1999
and 1998, the consolidated financial    statements of the Company include the
accounts of the following wholly-owned subsidiaries.  All significant
intercompany accounts and transactions have been eliminated in consolidation.

     CASINOS USA, INC. ("Casinos USA"), a Colorado corporation, which owns and
     operates the Bull Durham Saloon and Casino ("Bull Durham"), located in
     the limited stakes gaming district of Black Hawk, Colorado.

     GLOBAL CENTRAL, INC., a Colorado corporation, which owns and operates the
     Tollgate Saloon & Casino ("Tollgate), located in the limited stakes
     gaming district of Central City, Colorado.

     GLOBAL ALASKA INDUSTRIES ("Global Alaska"), which operates Alaska Bingo
     Supply, Inc. ("ABS") located in Anchorage, Alaska.

     GLOBAL PELICAN N.V. ("Pelican"), a St. Maarten Limited Liability company
     located on the island of St. Maarten in the Dutch Netherlands Antilles.

     WOODBINE CORPORATION ("Woodbine"), a South Dakota corporation, which
     operated Lillie's Casino in Deadwood, South Dakota through June 30, 1995.

     BPJ HOLDINGS N.V. ("BPJ"), a Curacao limited liability company, which
     operated the Casino Masquerade on the Caribbean resort island of Aruba
     through February 1998.  The Company disposed of its investment in BPJ in
     December 1998.

     DESTINATION MARKETING SERVICES ("DMS"), a Colorado corporation, which
     acquired the net assets of a Colorado travel services company in January
     1998.  The Company disposed of its investment in DMS in October 1998.

2.   TOLLGATE SALOON & CASINO

     In August 1999, the Company entered into a lease and option agreement
(the "lease agreement") to lease the Tollgate Saloon & Casino in Central City,
Colorado.  The Company paid a $30,000 deposit upon inception of the lease
agreement, of which $10,000 is nonrefundable.  The term of the lease is 24
months with monthly rent of $6,000.  The Company has the option to purchase
the casino and associated real estate and equipment at any time prior to the
expiration of the lease agreement at a purchase price of $1,400,000.

     The Company entered into an agreement with a third party who had
previously operated the casino to lease additional gaming equipment under
terms that grant the Company the ability to purchase the equipment at the end
of the 24-month term for $35,000.  The equipment lease requires monthly rents
of $1,700.

3.   EARNINGS PER SHARE

     Basic loss per share represents the net loss available to common
stockholders divided by the weighted average number of common shares
outstanding during the year.  Diluted loss per share reflects the potential
dilution that could occur if securities or other contracts to issue common
stock were exercised or converted into common stock or resulted in the
issuance of common stock that then shared in the losses of the entity.
Convertible preferred stock, stock options, stock warrants and convertible
promissory notes are not considered in the calculation for the three months
ended September 30, 1999 and 1998 as the impact of the potential common shares
would be to decrease loss per share.

     Therefore, diluted loss per share is equivalent to basic loss per share.

4.   SEGMENT INFORMATION

     The Company operates in three significant lines of business:  the casino
gaming industry, the distribution of bingo products, and the leasing of bingo
halls.  Each reportable segment is a strategic business unit that offers
different products and services. The bingo-related segments are managed
together to realize synergies in employment and marketing strategies.

     The accounting policies of the segments are the same as those described
in the summary of significant accounting policies. The Company evaluates the
performance of each segment based on profit or loss from operations.
Following is a tabulation of business segment information for the three months
ended September 30, 1999 and 1998 (in thousands):

<TABLE>
<CAPTION>


                                        Bingo
                                Bingo   Hall
                      Casino Products  Leasing    Other   Total
     1999
<S>                  <C>      <C>      <C>      <C>     <C>
Revenue              $1,216     $777     $157           $2,150
Interest revenue          1                12               13
Interest expense         75        6       44              125
Depreciation and
  amortization          123      110                14     247
Realized and
  unrealized gains and
  (losses)                                 (8)              (8)
Extraordinary item                                  57      57
Net income (loss)      (328)      52       58       40    (178)
Identifiable assets   4,585      757             6,212  11,554
Capital expenditures    511        2                 3     516

     1998

Revenue              $1,338     $641     $178     $108  $2,265
Interest revenue                            7                7
Interest expense         60        9                47     116
Depreciation and
  amortization           91       74                16     181
Realized and unrealized
  gains and (losses)
Net income (loss)      (293)      41       74     (119)   (297)
Identifiable assets   4,701      934             6,182  11,817
Capital expenditures    374       16                 1     391

</TABLE>

The following table sets forth financial information for the Company's foreign
and domestic operations for the three months ended September 30, 1999 and 1998
(in thousands):

<TABLE>
<CAPTION>

                               Foreign**   Domestic       Total

     1999
<S>                           <C>         <C>            <C>
Revenue                           $362      $1,788      $2,150
Net income (loss)                 (233)         56        (177)
Identifiable assets                116      11,437      11,553

     1998
Revenue                           $672      $1,592      $2,264
Net income (loss)                 (310)         13        (297)
Identifiable assets                392      11,425      11,817

</TABLE>

**Foreign includes the operations of Aruba and St. Maarten.


5.   SUBSEQUENT EVENT

     In November 1999, Hurricane Lenny caused significant damage to the island
of St. Maarten.  The extent of damage to the island and to the Pelican Casino,
and the effect of the damage on the operations of the Copmany, has not been
determined.


<PAGE>
<PAGE>
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS

     Certain statements in this Management's Discussion and Analysis of
Financial Condition and Results of Operations which are not historical facts
are forward-looking statements such as statements relating to future operating
results, existing and expected competition, financing and refinancing sources
and availability and plans for future development or expansion activities and
capital expenditures.  Such forward-looking statements involve a number of
risks and uncertainties that may significantly affect the Company's liquidity
and results in the future and, accordingly, actual results may differ
materially from those expressed in any forward-looking statements.  Such risks
and uncertainties include, but are not limited to, those related to effects of
competition, leverage and debt service financing and refinancing efforts,
general economic conditions, changes in gaming laws or regulations (including
the legalization of gaming in various jurisdictions) and risks related to
development and construction activities.  The following discussion and
analysis should be read in conjunction with the consolidated financial
statements and notes thereto appearing elsewhere in this report.

Overview

     Global Casinos, Inc. and its wholly-owned subsidiaries operate in the
domestic and international gaming industry.  The Company is organized as a
holding company for the purpose of acquiring and operating casinos, gaming
properties and other related interests.  At September 30, 1999, the Company's
consolidated financial statements consisted mainly of the following: the
corporate office in Colorado Springs, Colorado; the Bull Durham Saloon &
Casino in Black Hawk, Colorado; the Tollgate Saloon & Casino in Central City,
Colorado; the Pelican Casino on the island of St. Maarten, Netherlands
Antilles; and Alaska Bingo Supply ("ABS") in Anchorage, Alaska.

     The operations of the Company are seasonal.  St. Maarten experiences a
higher concentration of tourists from December through April.  The Pelican
Casino's busy season counters the slow seasons of the Company's domestic
operations.  The Bull Durham and Tollgate casinos experience a significant
increase in tourists from May through September.  ABS's operations are
strongly influenced by the amount of daylight and snow received.
Consequently, its operations are the strongest from September through April
when people do not tend to be outdoors.

Bull Durham Saloon & Casino

     The Bull Durham is located approximately one hour from Denver, Colorado
in the town of Black Hawk. In November 1998, the casino completed its
expansion project that increased the gaming space
approximately 2,500 square feet to a total of 7,200 square feet.  The casino
now operates with 148 slot machines and three black jack tables. The Bull
Durham employs an average of 30 full-time employees.

Tollgate Saloon & Casino

     The Tollgate is located approximately one mile from Bull Durham in the
historic mining town of Central City.  In August 1999, the Company entered
into a lease and option agreement to lease the
Tollgate for a term of 24 months with the option to purchase the casino and
associated real estate and equipment at any time prior to the expiration of
the lease agreement at a purchase price of $1,400,000.

     The Tollgate consists of 19,233 square feet on three levels in a restored
historic commercial building.  The casino operates with four black jack
tables, 121 slot machines, and employs approximately 25 full-time employees.

Pelican Casino

     The Pelican Casino is located on the Dutch side of St. Maarten.  Casino
operations are prohibited on the French side of the island.  The Pelican's
customer base consists mainly of American and European tourists. The casino is
located in one of the largest time-share complexes on the island, the Pelican
Resort, which has over 700 rooms. The casino occupies 7,000 square feet and
features 130 slot machines, eight black jack tables, three Caribbean Stud
tables, two roulette wheels, one Let-it-Ride table, and one craps table.  The
Pelican employs an average of 66 full-time employees.

Alaska Bingo Supply

     ABS is primarily engaged in the distribution of a full line of bingo
related products.  ABS products are sold in Alaska to non-profit organizations
and municipalities that use the products for fund-raising purposes. Charitable
bingo is currently the sole form of legalized gaming in Alaska.  ABS also
receives rent income from the leasing of space to two bingo hall operators.
ABS employs seven full-time employees.

Results of Operations - Three Months Ended September 30, 1999 Compared to the
Three Months ended September 30, 1998

     The Company incurred a net loss of $177,415 for the three months ended
September 30, 1999, a decrease of $120,154 compared to $297,569 for the same
period in 1998. Net loss available to common stockholders was $249,638 for the
three months ended September 30, 1999 compared to $362,784 for the same period
in 1998.

     The results of operations for the three months ended September 30, 1999
were comprised of Bull Durham, Tollgate, Pelican Casino, and Alaska Bingo
Supply.  The period in 1998 was comprised of Bull Durham, Pelican Casino,
Alaska Bingo Supply, Destination Marketing, and Casino Masquerade.

     During the second quarter of 1998, the Company sold its investments in
BPJ Holdings ("BPJ") and Destination Marketing.  Destination Marketing was not
a material subsidiary of the Company.  The Company, through BPJ, had operated
Casino Masquerade through February 1998, at which time the hotel in which it
was located was closed for major repairs and renovations.  The Company did not
earn any revenue from Casino Masquerade during the three months ended
September 30, 1998.

Revenues

     The Company's revenues are generated from casino operations, sales of
bingo products, rental income from the leasing of bingo halls, and
miscellaneous income that is comprised of food and beverage sales at the
casinos.  Revenues for the three months ended September 30, 1999 were
$2,149,917 compared to $2,264,638 for the 1998 period, a decrease of $114,721
or 5%.

     Bull Durham's revenues increased $66,847 to $732,620 for the three months
ended September 30, 1999 compared to $665,773 for the period in 1998.  The
increase is largely due to the expansion that opened in November 1998 being in
operation for the entire period in 1999.  Tollgate's revenues for the three
months ended September 30, 1999 were $121,986.  The Pelican Casino's revenues
decreased $60,540 to $361,734 for the three months ended September 30, 1999
compared to $422,274 for the same period in 1998.  The decrease was due to a
general decrease in island tourism.

     Alaska Bingo's revenues increased $114,734 to $933,577 for the three
months ended September 30, 1999 compared to $818,843 for the period in
September 30, 1998.  Of the increase, approximately
72% came from the increase in pulltab sales.

Expenses

     Cost of sales increased $86,745 to $523,673 for the three months ended
September 30, 1999 compared to $436,928 for the period in 1998.  Approximately
80% of sales costs are incurred by Alaska Bingo. Alaska Bingo's gross profit
remained at approximately 44% for both of the three months ended September 30,
1999 and 1998.

     Operating, general, and administrative expenses decreased $342,034 to
$1,494,022 for the three months ended September 30, 1999 compared to
$1,836,056 for the period in 1998. The decrease is primarily due to costs
incurred by Casino Masquerade and Destination Marketing during the three
months ended September 30, 1998, which totaled $393,703.  The Pelican Casino's
operating costs decreased $123,581 for the three months ended September 30,
1999 compared to the prior year period due to a reduction in management
overhead.  These cost reductions were offset by $242,586 in operating costs
incurred by Tollgate in its first three months of operations.

     Depreciation and amortization costs increased $65,935 to $246,581 for the
three months ended September 30, 1999 compared to $180,646 for 1998.  The
increase is due largely to a reduction in the estimated useful life of Pelican
Casino's equipment and improvements, resulting in fixed assets being
depreciated over a shorter time period.

     Other expenses net of income was comparable to the prior year at $119,899
for the three months ended September 30, 1999 compared to $108,577 in 1998.
Interest expense increased approximately $8,572 due primarily to the issuance
of debt in the acquisition of fixed assets. Unrealized losses in market value
adjustments of marketable trading securities exceeded realized gains by
approximately $8,000.  These charges were offset by an approximate $5,000
increase in interest income attributable to hotel credits received in the
settlement of the Casino Masquerade lease.

     The Company recognized an extraordinary item of $56,843 related to gains
from debt restructuring and extinguishment.  Included in the gain was $20,566
recognized in July 1999, when Global Casinos paid a total of $52,858 in cash
and assumed a note of $54,163 to retire the unsecured debt of Casinos USA.


Liquidity and Capital Resources

     The Company's primary source of cash is internally generated through
operations.  Historically, cash generated from operations has not been
sufficient to satisfy working capital requirements and capital expenditures.
Consequently, the Company has depended on funding through debt and equity
financing to address these shortfalls.  The Company has also relied, from time
to time, upon loans from affiliates to meet immediate cash demands.  There can
be no assurance that these affiliates or other related parties will continue
to provide funds to the Company in the future as there is no legal obligation
to provide them.

     The Company continues to address debt currently in default be conversion
of debt to equity, restructuring of amounts due and payment terms, etc.
Management expects to be able to complete these negotiations successfully, as
it continues to have excellent working relationships with existing creditors.

     The working capital deficiency increased by $464,924 to $(2,772,761) at
September 30, 1999 from $(2,307,837) at June 30, 1999. Current assets
decreased to $2,332,568 at September 30, 1999 from $2,563,614 at June 30,
1999, a decrease of $231,046 or 9%. Current liabilities increased to
$5,105,329 at September 30, 1999 from $4,871,451 at June 30, 1999, an increase
of $233,878 or 5%.  The increase in the working capital deficit was due mainly
to increases in debt to acquire equipment and fund the start-up operations of
Tollgate.

     In August 1999, the Company entered into a lease and option agreement
(the "lease agreement") to lease the Tollgate Saloon & Casino in Central City,
Colorado.  The Company paid a $30,000 deposit upon inception of the lease
agreement, of which $10,000 is nonrefundable.  The term of the lease is 24
months with monthly rent of $6,000.  The Company has the option to purchase
the casino and associated real estate and equipment at any time prior to the
expiration of the lease agreement at a purchase price of $1,400,000.  In
addition, the Company entered into an agreement with a third party who had
previously operated the casino to lease additional gaming equipment under
terms that grant the Company the ability to purchase the equipment at the end
of the 24-month term for $35,000.  The equipment lease requires monthly rents
of $1,700.

     During the three months ended September 30, 1999, related parties made
working capital loans to the Company in the amount of $342,981.  The loans
accrue interest at 9%.  The Company paid $145,070 and transferred $123,766
toward the principal of the outstanding working capital loans.  At September
30, 1999, the Company owed $350,638 to the related parties.  The Company
incurred $456,919 in debt to acquire equipment predominantly for the
operations of Tollgate.  The debt is secured by the equipment, and bears
interest at average rates of 12% over two years.

     Net cash provided by operating activities decreased $54,856 to $34,535
for the three months ended September 30, 1999 compared to $89,391 for the same
period in 1998.  The decrease is due largely to working capital costs incurred
in the start-up of Tollgate.

     Investing activities provided $221,425 in net cash during the three
months ended September 30, 1999.  During the three months ended September 30,
1998, investing activities used $114,806 in net cash. The main reason for the
$221,425 positive change was net sales of $193,499 in marketable trading
securities during the three months ended September 30, 1999.  In addition, the
Company decreased its cash purchases of fixed assets by $71,554 during the
three months ended September 30, 1999 compared to the period in 1998.

     The Company will from time to time invest in selected marketable
securities as a short term investment strategy for available cash.  Generally,
these investments are limited to equity stocks that present a value or growth
opportunity for the portfolio.  Purchases are made with the intention that the
securities purchased will be held for 12 months or less, are not traded
frequently, and are monitored closely to minimize the inherent risks of market
fluctuations.  During the three months ended September 30, 1999, the Company
recognized no significant individual realized or unrealized losses.  The
Company recorded combined realized and unrealized losses totaling $8,000.

     The Company used $187,011 in cash for financing activities during the
three months ended September 30, 1999 compared to $200,195 during the same
period in 1998, a decrease of $13,184.  The main reason for the decrease is
that the Company issued debt in excess of principal payments of $14,789 during
the three months ended September 30, 1999 compared to the prior year period.

     On July 7, 1999, the Company 's common stock was delisted from the NASDAQ
exchange due to concerns related to the public interest.  If the Company is
unsuccessful in its efforts to have its common stock relisted on NASDAQ, this
situation could have an adverse impact on the Company's ability to raise new
capital through additional equity offerings.

     The Company continues its efforts to formulate plans and strategies to
address the Company's financial condition and increase profitability.
Management will continue to address debt currently in default by negotiating
with creditors to convert debt to equity, extend maturity dates of debt, and
accept reduced payment terms.  The Company will also continue to explore
acquisition opportunities, and improve operating efficiencies at its existing
properties.  Management believes that these plans will result in increased
liquidity and future profitability, however, there is no assurance that
management actions will result in increased liquidity or future profitability.



SUBSEQUENT EVENT

     In November 1999, Hurricane Lenny caused significant damage to the island
of St. Maarten.  The extent of damage to the island and to the Pelican Casino,
and the effect of the damage on the operations of the Company, has not been
determined.

Year 2000  Issue

     The Company recognizes the need to ensure its operations will not be
adversely impacted by Year 2000 software failures.  Software failures due to
processing errors potentially arising from calculations using the Year 2000
date are a known risk.  The Company is addressing this risk to the
availability and integrity of financial systems and the reliability of the
operational systems.  The Company has established processes for evaluating and
managing the risks and cost associated with this problem, including
communicating with suppliers, dealers, and others with which it does business
to coordinate Year 2000 conversion.  The total cost of compliance and its
effect on the Company's future results of operations is being determined as
part of the detailed conversion planning process.



<PAGE>
<PAGE>
PART II.  OTHER INFORMATION

     Item 1.   Legal Proceedings

          None, except as previously disclosed.

     Item 2(a).  Changes in Securities

          None, except as previously disclosed.

     Item 3.   Defaults Upon Senior Securities

          None, except as previously disclosed.

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

          None, except as previously disclosed.

     Item 5.   Other Information

          None, except as previously disclosed.

     Item 6(a).  Exhibits

          None, except as previously disclosed.

     Item 6(b).  Reports on Form 8-K

          None.



<PAGE>
<PAGE>
                                  SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Quarterly Report to
be signed on its behalf by the undersigned, thereunto duly authorized.

                                   GLOBAL CASINOS, INC.



Date:     April 4, 2000            By:  /s/Stephen G. Calandrella
     ------------------------           ----------------------------------
                                        Stephen G. Calandrella, President