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

                                  FORM 10-QSB


            [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
               For the quarterly period ended December 31, 2000

                                      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 January 31, 2001, the Registrant had 1,546,360 shares of its Common
Stock of the Registrant were outstanding.

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

<PAGE>
<PAGE>
                                     INDEX

                        PART I -- FINANCIAL INFORMATION

Item 1.   Financial Statements                              Page

     Consolidated Balance Sheets as of December 31, 2000
          and June 30, 2000                                 4

     Consolidated Statements of Operations for the three
          months ended December 31, 2000 and December 31,
          1999                                              7

     Consolidated Statements of Operations for the six
          months ended December 31, 2000 and December 31,
          1999                                              9

     Consolidated Statements of Cash Flows for the six
          months ended December 31, 2000 and December
          31, 1999                                          11

     Notes to Consolidated Financial Statements             13

Item 2.   Management's discussion and analysis of financial condition and
          results of operations

          Overview                                          16

          Results of Operations                             17

          Liquidity and Capital Resources                   19

                         PART II -- OTHER INFORMATION

Item 1.   Legal Proceedings                                 20

Item 2.   Changes in Securities                             20

Item 3.   Defaults Upon Senior Securities                   20

Item 4.   Submission of Matters to a Vote of Security
          Holders                                           20

Item 5.   Other Information                                 20

Item 6.   Exhibits and Reports on Form 8-K                  20



<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) 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 accompanying statements contain all adjustments
necessary to present fairly the financial position of the Company as of
December 31, 2000, and its results of operations for the three-month and six-
month periods ended December 31, 2000 and 1999 and its cash flows for the
three-month and six-month periods ended December 31, 2000 and 1999. The
Company's balance sheet as of June 30, 2000 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>
                     GLOBAL CASINOS, INC. AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEETS
                   as of December 31, 2000 and June 30, 2000
                       (in thousands, except share data)
<TABLE>
<CAPTION>

                                       December 31,     June 30,
                                           2000           2000
                                        (unaudited)
                                       -------------    --------
<S>                                     <C>            <C>

       ASSETS

Current assets:
  Cash and cash equivalents             $     178      $     174
  Cash in escrow                              120              -
  Trade receivables, net of allowance
     for doubtful accounts of $89             197            265
  Inventory                                   282            285
  Current portion of notes receivable          75             69
  Marketable trading securities               180            800
  Other                                        41            107
                                     -------------   ------------
       Total current assets                 1,073          1,700
                                     -------------   ------------

Land, building and improvements
  and equipment:
  Land                                        518            518
  Building and improvements                 4,072          4,072
  Equipment                                 1,422          1,726
                                     -------------   ------------
                                            6,012          6,316
  Accumulated depreciation                 (1,902)        (1,965)
                                     -------------   ------------
                                            4,110          4,351
                                     -------------   ------------

Other assets:
  Leasehold rights and interests
     and contract rights, net of
     amortization of $1,259 and
     $1,122, respectively                   1,031          1,168
  Goodwill, net of amortization of
     $493 and $421, respectively            1,672          1,744
  Hotel credits, net of impairment
     allowance of $284                        189            189
  Notes receivable, net of current
     portion, including receivables
     in default and allowance for
     doubtful accounts of $166                 92            113
  Other                                        75             21
                                     -------------   ------------
                                            3,059          3,235
                                     -------------   ------------

                                        $   8,242      $   9,286
                                     =============   ============

Current liabilities:
  Accounts payable, including $110
     and $96 to a related party at
     December 31 and June 30, 2000      $     593      $     721
  Accrued expense                             195            203
  Accrued interest, including $10
     and $21 to a related parties at
     December 31 and June 30, 2000            463            414
  Other accrued liabilities                   202            644
  Notes payable                               317            192
  Current portion of long-term debt:
     Related Parties                          574            727
     Debt in default                        1,024            772
     Other Debt                               239            432
  Other                                        40             40
                                     -------------   ------------
       Total current liabilities            3,647          4,145

Long-term debt, less current
  portion                                   2,532          2,713
                                     -------------   ------------
Deferred sales proceeds                       195              -
                                     -------------   ------------
Mandatory redeemable, voting,
  Class C preferred stock,
  487,171 shares issued and
  outstanding                                 585            585
                                     -------------   ------------
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, 217,112 and
       244,572 shares issued
       and outstanding at
       December 31 and June 30,
       2000                                     2              2
  Common stock - $.05 par value;
     50,000,000 shares authorized;
     1,546,360 shares issued and
     outstanding                               77             77
  Additional paid-in capital               11,544         11,818
  Accumulated deficit                     (10,533)       (10,247)
                                     -------------   ------------
                                            1,283          1,843
                                     -------------   ------------

                                        $   8,242      $   9,286
                                     =============   ============
</TABLE>
                            See accompanying notes.



<PAGE>
<PAGE>
                     GLOBAL CASINOS, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF OPERATIONS
             for the Three Months ended December 31, 2000 and 1999
                       (in thousands, except share data
                                  (Unaudited)
<TABLE>
<CAPTION>

                                           Three Months Ended
                                       December 31,   December 31,
                                           2000           1999
                                        -----------   ------------
<S>                                     <C>            <C>

Revenues:
  Casino                                $     526      $   1,038
  Bingo                                       753          1,034
  Food and beverage                            49             32
  Other                                         2             (3)
                                     -------------    ------------
                                            1,330          2,101
Expenses:
  Cost of sales                               416            524
  Operating, general, and
     administrative                           823          1,724
  Depreciation and amortization               200            255
                                     -------------    ------------
                                            1,439          2,503
                                     -------------    ------------
Income (loss) from operations                (109)          (402)
                                     -------------    ------------

Other income (expense):
  Interest income                               3             11
  Interest expense                           (118)          (116)
  Gain on sale of subsidiary                    -          1,136
  Realized gain on sale of
     marketable securities                      2             14
  Adjustment to market value of
     marketable securities                    (79)            79
                                     -------------    ------------
                                             (192)         1,124

Income (loss) before extraordinary
  item                                       (301)           683
Extraordinary item - gain from
  restructuring of debt                         -             36
                                     -------------    ------------
Net income (loss)                            (301)           719

Dividends on Class B and C
  preferred stock                             (55)           (67)
                                     -------------    ------------
Net income (loss) available to
  common stockholders                   $    (356)     $     652
                                     =============   ============

Earnings (loss) per common share -
  basic and diluted:
  Income (loss) before
     extraordinary item                 $   (0.23)     $    0.40
  Extraordinary item                            -           0.03
                                     -------------    ------------
  Net income (loss) available to
     common stockholders                $   (0.23)     $    0.43
                                     =============   ============
  Weighted average shares
     outstanding                        1,546,360      1,546,360
                                     =============   ============


</TABLE>
                            See accompanying notes.

<PAGE>
<PAGE>
                     GLOBAL CASINOS, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF OPERATIONS
              for the Six Months ended December 31, 2000 and 1999
                       (in thousands, except share data)
                                  (Unaudited)

<TABLE>
<CAPTION>

                                            Six Months Ended
                                       December 31,   December 31,
                                           2000           1999
                                        -----------   ------------
<S>                                     <C>            <C>

Revenues:
  Casino                                $   1,215      $   2,370
  Bingo                                     1,418          1,963
  Food and beverage                           120             66
  Other                                        13             50
                                       -----------    -----------
                                            2,766          4,449
                                       -----------    -----------
Expenses:
  Cost of sales                               817          1,089
  Operating, general, and
     administrative                         1,605          3,249
  Depreciation and amortization               393            499
                                       -----------    -----------
                                            2,815          4,837
                                       -----------    -----------
Income (loss) from operations                 (49)          (388)
                                       -----------    -----------
Other income (expense):
  Interest income                               6             24
  Interest expense                           (238)          (218)
  Gain on sale of subsidiary                    -          1,176
  Gain on disposal of asset                     6              -
  Realized gain on sale of
     marketable securities                    129            135
  Adjustment to market value of
     marketable securities                    (26)           (90)
                                       -----------    -----------
                                             (123)         1,027
                                       -----------    -----------

Income (loss) before
  extraordinary item                         (172)           639
Extraordinary item - gain from
  restructuring of debt                         -             55
                                       -----------    -----------
Net income (loss)                            (172)           694

Dividends on Class B and C
  preferred stock                            (114)          (139)
                                       -----------    -----------
Net income (loss) available to
  common stockholders                   $    (286)     $     555
                                     =============   ============

Earnings (loss) per common share
  - basic and diluted:
     Income (loss) before
       extraordinary item               $   (0.18)     $    0.32
  Extraordinary item                            -           0.04
                                       -----------    -----------
  Net income (loss) available to
     common stockholders                $   (0.18)     $    0.36
                                     =============   ============

  Weighted average shares
     outstanding                        1,546,360      1,546,360
                                     =============   ============

</TABLE>

                            See accompanying notes.
<PAGE>
<PAGE>
                     GLOBAL CASINOS, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
              for the six months ended December 31, 2000 and 1999
                                (in thousands)
                                  (Unaudited)

<TABLE>
<CAPTION>

                                            Six Months Ended
                                       December 31,   December 31,
                                           2000           1999
                                        -----------   ------------
<S>                                     <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net cash provided (used) by
     operating activities               $    (284)     $     136
                                       -----------    -----------
CASH FLOWS FROM INVESTING ACTIVITIES
  Purchase of equipment                         -            (44)
  Deferred sales proceeds                     195              -
  Collections on note receivable               15            111
  Issuance of note receivable and
     other                                    (51)             -
  Purchases of marketable trading
     securities                              (559)          (413)
  Sales of marketable trading
     securities                             1,324            504
                                       -----------    -----------
     Net cash provided by investing
       activities                             924            158
                                       -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from issuance of debt              248            291
  Debt principal payments                    (385)          (412)
  Redemption of Class B preferred
     stock                                   (275)          (255)
  Payment of dividends on Class B
     preferred stock                         (104)          (118)
                                       -----------    -----------
     Net cash used in financing
       activities                            (516)          (494)

Net increase (decrease) in cash               124           (200)

Cash at beginning of year                     174            505
                                       -----------    -----------
Cash at end of year                     $     298      $     305
                                       ===========    ===========

SUPPLEMENTAL CASH FLOW INFORMATION:
  Cash paid for interest                $     203      $     145

SUPPLEMENTAL SCHEDULE OF NONCASH
  INVESTING AND FINANCING ACTIVITIES:
  Note receivables in payment of debt   $       -      $       -
  Fixed assets acquired through debt    $       -      $     384
  Dividends accrued on Class B and
     Class C preferred stock            $      10      $      21


</TABLE>

                            See accompanying notes.

<PAGE>
<PAGE>
                     GLOBAL CASINOS, INC. AND SUBSIDIARIES
                       NOTES TO CONSOLIDATED STATEMENTS

1.   ORGANIZATION and SIGNIFICANT ACCOUNTING POLICIES

     The Consolidated Financial Statements for the three months and six months
     ended December 31, 2000 and 1999 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 December 31, 2000, and for the three months and six months ended
     December 31, 2000 and 1999, 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.  On August
          1, 2000, the Company ceased operating the Tollgate Saloon & Casino
          and transferred essentially all of the assets and liabilities to the
          Bull Durham Saloon & Casino.

          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. The Company disposed of its investment in
          Pelican in December 1999.

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

2.   SALE OF WOODBINE PROPERTY RIGHTS

     During the second quarter, Global sold its Woodbine property rights.
     Proceeds of the sale were utilized to satisfy outstanding liens against
     the property and the remainder was placed in an escrow account.
     Recognition of the proceeds has been deferred pending final resolution.

3.   EARNINGS PER SHARE

     Basic income or loss per share (Basic EPS) represents the net income or
     loss available to common stockholders divided by the weighted average
     number of common shares outstanding during the period.  Diluted income or
     loss per share (Diluted EPS) reflects the potential dilution that could
     occur if derivative instruments to issue common stock (e.g. options,
     warrants, or convertible debt) were exercised or converted into common
     stock.  After conversion or exercise, such instruments would share in the
     income or loss of the entity.

     The Company's operating history of losses has resulted in an average
     market price per common share that is lower than the conversion or
     exercise prices on the existing convertible preferred stock, stock
     options, stock warrants, and convertible promissory notes.  Under these
     conditions, we assume that these derivative instruments will not be
     exercised or converted.

     Convertible preferred stock, stock options, stock warrants and
     convertible promissory notes are not considered in the calculation for
     the three months or six months ended December 31, 2000 and 1999, as the
     impact of the potential common shares would be anti-dilutive.  Therefore,
     Diluted EPS equals Basic EPS for those periods.

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 six
     months ended December 31, 2000 and 1999 (in thousands):

<TABLE>
<CAPTION>

                          Bingo   Bingo Hall
                Casino  Products    Leasing    Other    Total
                ------  --------  ----------   -----    -----
2000
----
<S>            <C>       <C>          <C>       <C>      <C>
Revenue        $ 1,344   $1,160    $   258    $   4   $2,766
Interest expense   148       15          0       75      238
Depreciation
  and amortiza-
  tion             132      234          0       27      393
Realized and
  unrealized
  gains              0        0          0      103      103
Net income
  (loss)          (208)     (68)       138      (34)    (172)
Identifiable
  assets         4,171    3,405          0      666    8,242
Capital
  expenditures       0        0          0        0        0

</TABLE>

<TABLE>
<CAPTION>
                          Bingo   Bingo Hall
                Casino  Products    Leasing    Other    Total
                ------  --------  ----------   -----    -----
1999
----
<S>            <C>       <C>          <C>       <C>      <C>
Revenue        $ 2,478   $1,627    $   345        0   $4,450
Interest expense   108       13          0       97      218
Depreciation
  and amortiza-
  tion             253      222          0       24      499
Realized and
  unrealized
  gains              0        0          0       45       45
Net income
  (loss)           497      150         75     (167)     555
Identifiable
  assets         4,238      845          0    5,525   10,608
Capital
  expenditures     418        2          0        4      424

</TABLE>

     The Company's operation of the Pelican Casino in St. Maarten of the Dutch
     Netherlands Antilles was considered a foreign operation.  The Company
     disposed of its Pelican investment in December 1999.  All of the
     Company's remaining assets and operations are domestic.

<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 our 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

We operate in the domestic gaming industry.  We were organized as a holding
company for the purpose of acquiring and operating casinos, gaming properties
and other related interests. At December 31, 2000, our consolidated financial
statements consisted mainly of the following: the corporate office in Colorado
Springs, Colorado; the Bull Durham Saloon & Casino in Black Hawk, Colorado;
and Alaska Bingo Supply ("ABS") in Anchorage, Alaska.  The Pelican Casino in
St. Maarten was sold effective December 30, 1999, and the Tollgate Saloon &
Casino in Central City ceased operations on August 1, 2000.

Our operations are seasonal.  The Bull Durham casino experiences a significant
increase in tourists from May through September.  ABS's operations are
strongly influenced by the amount of daylight and snow received.
Consequently, ABS's operations are the strongest from September through April
when people spend more time indoors.

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 159 slot machines
and three black jack tables. The Bull Durham employs an average of 37 full-
time employees.

Tollgate Saloon & Casino
------------------------

The Tollgate was 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 consisted of 19,233 square feet on
three levels in a restored historic commercial building.  The casino operated
with four black jack tables, 121 slot machines, and employed approximately 16
full-time employees. The Company ceased operations at the Tollgate effective
August 1, 2000.

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 one bingo hall operator.
ABS employs seven full-time employees.

RESULTS OF OPERATIONS - SIX MONTHS ENDED DECEMBER 31, 2000 COMPARED TO THE SIX
MONTHS ENDED DECEMBER 31, 1999

We recognized a net loss of $(172,000) for the six months ended December 31,
2000 compared to net income of $694,000 for the same period in 1999. Net loss
attributable to common stockholders was $(286,000) for the six months ended
December 31, 2000, compared to a net income of $555,000 for the same period in
1999.  In 1999, we recognized a $1,176,000 gain from the sale of our Global
Pelican NV subsidiary.  There was no similar gain in 2000.  Furthermore, our
operations in 1999 included operation of the Pelican Casino (disposed in
December 1999) and the Tollgate Casino (ceased operations August 1, 2000).
The restructuring of our operations impacts the comparison of the 2000 period
verses the 1999 period.

Revenues
--------

Our 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 six
months ended December 31, 2000 were $2,766,000 compared to $4,449,000 for the
1999 period, a decrease of $1,683,000 or 38%.

Bull Durham's revenues decreased $131,000 to $1,240,000 for the six months
ended December 31, 2000 compared to $1,371,000 for the same period in 1999.
The decrease is largely due to increased competition experienced by Bull
Durham from larger, better- capitalized casinos.  Tollgate's revenues for the
period July 1, 2000 through July 31, 2000, amounted to $98,000 compared to
$359,000 in 1999.  We believe that with the fierce competition that we face
from larger, better-capitalized entities, we will continue to experience
decreases in operating revenues.  We are evaluating new marketing programs
that may result in an increase in revenues; however, we cannot be sure that
any new marketing program will be successful.

Alaska Bingo's revenues decreased $553,000 to $1,418,000 for the six months
ended December 31, 2000 compared to $1,971,000 for the period in 1999, or a
decrease of 28%.  The decrease is primarily related to increased competition
in our marketplace and the termination of one bingo hall leasing arrangement.
We believe that in the near term our operating profit will be less than we
have been able to achieve historically, as we experience increasing
competitive pressures in Alaska.

Expenses
--------

Cost of sales decreased $272,000 to $817,000 for the six months ended December
31, 2000 compared to $1,089,000 for the same period in 1999.  The decrease
corresponds with our decreased revenues.  The gross margin percent declined
from 76% in 1999 to 71% in 2000.  The decline is a result of the competitive
pressures previously discussed.

Operating, general, and administrative expenses decreased $1,644,000 to
$1,605,000 for the six months ended December 31, 2000 compared to $3,249,000
for the same period in 1999. The decrease is primarily due to costs incurred
by Global Pelican and Tollgate Saloon & Casino during 1999.  We continue to
monitor our general and administrative expenses related to the operation of
the Bull Durham and Alaska Bingo Supply.  We are attempting to further reduce
our general and administrative expenses by evaluating operational
efficiencies; however, we can make no assurances that we will be successful in
these endeavors.

Depreciation and amortization costs decreased $106,000 to $393,000 for the six
months ended December 31, 2000 compared to $499,000 for 1999.  The decrease is
due largely to the sale of the Pelican Casino and the closing of the Tollgate
Saloon & Casino.

Other
-----

Other income, net of expenses, decreased $(1,150,000) to $(123,000) for the
six months ended December 31, 2000 from $1,027,000 for the same period in
1999.  In 1999, we recognized a gain from the sale of Global Pelican NV.  In
2000, we recorded gains (both realized and unrealized) of $103,000 from our
portfolio of marketable securities.  In 1999, the similar gain was $45,000.
We believe that the changes in the current stock market may have an
unfavorable effect on our marketable trading securities.  We rely on the
profits from the sales of marketable trading securities to fund a portion of
our working capital needs.  If we are unable to realize gains from these
temporary investments, it could have a material adverse impact on our
financial condition.  Interest expense remained relatively constant for the
six months ended December 31, 2000 compared to the same period in 1999.

During December 2000, we sold our interest in the Woodbine property rights.  A
portion of the sales proceeds was used to pay expenses of the sale and to
satisfy outstanding liens against the property.  The remaining proceeds have
been placed into an escrow account pending final resolution of the
transaction.

We recognized an extraordinary item of $55,000 for the six months ended
December 31, 1999 related to gains from debt restructuring and
extinguishments.  No similar gains were recorded during the six months ended
December 31, 2000; however we continue to pursue such restructuring.

For federal income tax purposes, Global has a net operating loss of carryover
(NOL) approximating $6,114,000, which can be used to offset future taxable
income.  Under the Tax Reform Act of 1986, the amounts of and the benefits
from NOL's are subject to certain limitations including restrictions imposed
when ownership changes in excess of 50% of outstanding shares.  Thus, there is
no guarantee that Global will be able to utilize its NOL before it expires.

Inflation did not have a material impact on the Company's operations for the
period.

Other than the foregoing, management knows of no trends, demands, or
uncertainties that are reasonably likely to have a material impact on the
Company's results of operations.

LIQUIDITY AND CAPITAL RESOURCES

Our 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,
we have depended on funds received through debt and equity financing to
address these shortfalls.  We have 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 us in the future as there is no legal obligation on these parties parts to
provide such loans.

We constantly monitor stock market conditions as we rely on realized gains
from our marketable securities to fund our working capital needs.  We invest
in selected marketable securities as a short-term investment strategy to
generate profits. 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, and are monitored closely to minimize the inherent risks of
market fluctuations.  At December 31, 2000, we had marketable trading
securities that totaled approximately $180,000.  Should there be a sudden
downturn in the stock market, we could experience a significant adverse impact
on our financial condition.

We continue to address debt currently in default by evaluating converting debt
to equity, restructuring of amounts due and we attempt to obtain extended
payment terms.  There can be no assurances, however, that we will be
successful in these endeavors.  Should we be unsuccessful in these endeavors,
it would have a significant impact on our operations.  Additionally, we are
faced with renewing our gaming license with the Colorado Gaming Commission in
the near term.  Should we be unsuccessful in obtaining this renewal, it would
have a material adverse impact on our operations.

Our working capital deficiency increased by $129,000 to $(2,574,000) at
December 31, 2000, from $(2,445,000) at June 30, 2000.

During the six months ended December 31, 2000, related parties made working
capital loans to us in the amount of $248,000.  The loans accrue interest at
8% and 9%.  We paid $385,000 toward the principal of the outstanding working
capital loans and long-term debt.  At December 31, 2000, we owed $891,000 to
the related parties.  Additionally, at December 31, 2000, we owed debt in the
amount of approximately $1,024,000 to individuals and entities that, by the
terms of these notes, was in default. Should any of these note holders make
demand for payment, we would not have the financial resources to pay these
notes that could have a material adverse impact on our financial condition.

Cash used by operating activities was $(284,000) for the six months ended
December 31, 2000.  For the same period in 1999, operating activities provided
net cash of $136,000.

We were able to compensate for the operating cash shortfall by generating net
cash from investing activities of $924,000, compared to $158,000 for the same
period in 1999.  Most of the cash was provided by sales of marketable
securities.  The sale of our Woodbine property rights provided net cash of
$195,000, most of which remains in an escrow account.

Cash flows used in financing activities increased $22,000 to $(516,000) for
the six months ended December 31, 2000, compared to ($494,000) in 1999.  Most
of the net cash used in financing activities went to the redemption of Class B
preferred stock and payment of dividends thereon.

We continue our efforts to formulate plans and strategies to address our
financial condition and increase profitability.  We 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.  We
are evaluating methods to reduce costs and enhance our operating results.  We
cannot, however, provide any assurances that we will be successful in these
endeavors.

Other than the foregoing, management knows of no trends, demands, or
uncertainties that are reasonably likely to have a material impact on the
Company' results of operations.



<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.   Exhibits and 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:     February 14, 2001        By:  /s/ Stephen G. Calandrella
     ---------------------------        -------------------------------
                                   Stephen G. Calandrella, Principal Executive
                                   and Financial Officer