FORM 10-QSB
                                
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549


   [ X ]   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
               THE SECURITIES EXCHANGE ACT OF 1934
          For the quarterly period ended March 31, 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 May 21, 1999 1,546,360 shares of Common Stock of the
Registrant were outstanding.

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


INDEX

PART 1.        FINANCIAL INFORMATION:

     Item 1.   Financial Statements

               Balance Sheets at March 31, 1999 (unaudited)
               and June 30, 1998

               Statements of Operations for the Three Months
               Ended March 31, 1999 (unaudited) and March 31, 1998
               (unaudited)

               Statements of Operations for the Nine months
               Ended March 31, 1999 (unaudited) and March 31, 1998
               (unaudited)

               Statements of Cash Flows for the Nine months
               Ended March 31, 1999 (unaudited) and March 31, 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



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 March 31, 1999, and its results of operations for the three
and nine-month periods ended March 31, 1999 and 1998 and its cash
flows for the nine-month periods ended March 31, 1999 and 1998.
The Company's balance sheet as of June 30, 1998 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.



                   Global Casinos, Inc. and Subsidiaries
                        Consolidated Balance Sheets


                                                    March 31,1999  June 30,1998
                                                     (unaudited)


                            ASSETS

Current assets:
  Cash                                                  671,481       722,893
  Restricted cash                                       140,450       140,450
  Accounts receivable:
   Trade, net of allowance for doubtful accounts
    of $64,410 and $26,140 at March 31, 1999
    and June 30, 1998                                   419,705       371,602
   Related parties                                      127,020        16,282
  Inventory                                             297,719       284,978
  Prepaid rent                                          141,573       192,800
  Current portion of notes receivable                    63,642        60,623
  Marketable trading securities                         273,387        12,980
  Other                                                 108,147        95,870

    Total current assets                              2,243,124     1,898,478

Land, buildings and equipment:
  Land                                                  526,550       526,550
  Buildings                                           4,367,285     4,043,870
  Equipment                                           2,036,743     2,040,944

                                                      6,930,578     6,611,364
  Accumulated depreciation                           (1,686,953)   (1,460,096)

                                                      5,243,625     5,151,268

Other assets:
  Leasehold rights and interests and contract
   rights, net of amortization of $684,396 and
   $1,199,095 at March 31, 1999 and June 30, 1998     1,605,541     2,643,348
  Goodwill, net of amortization of $200,417
   and $110,230 at March 31, 1999 and June 30, 1998   1,964,087     2,054,275
  Hotel credits                                         485,572
  Notes receivable, net of current portion,
   including receivables in default                     262,271       290,340
  Other assets, net of amortization of $35,922
   and $23,700 at March 31, 1999 and June 30, 1998       15,466        24,197

                                                      4,332,937     5,012,160

                                                     11,819,686    12,061,906


                                 (Continued)


                   Global Casinos, Inc. and Subsidiaries
                       Consolidated Balance Sheets
                                (Continued)

                                                  March 31,1999  June 30,1998
                                                   (unaudited)
      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable                                  521,892          673,381
  Accrued expenses                                1,323,940        1,344,466
  Accrued interest, including $5,662 and
   $40,431 to related parties at March 31, 1999
   and June 30, 1998                                247,053          294,131
  Note payable                                      323,322          245,000
  Current portion of long-term debt,
   including debt in default and
   $240,132 and $367,351 to related
   parties at March 31, 1999
   and June 30, 1998                              1,820,191        1,920,950
  Mandatory redeemable convertible Class A
   preferred stock, in default                                        33,500
  Other                                              40,000           40,000

    Total current liabilities                     4,276,398        4,551,428

Long-term debt, less current portion              2,680,070        3,212,472
Other                                                12,056           12,056

                                                  2,692,126        3,224,528
Commitments and contingencies

Stockholders' equity:
  Preferred stock - convertible: 10,000,000
   shares authorized
   Class A - $2 par value, nonvoting; 96,500
    and 109,000 shares issued and outstanding
    at March 31, 1999 and June 30, 1998             193,000          218,000
   Class B - $.01 par value, nonvoting; 308,498
    and 329,178 shares issued and outstanding at
    March 31, 1999 and June 30, 1998                  3,085            3,292
   Class C - $.01 par value, voting; 487,172
    shares issued and outstanding                     4,872
  Common stock - $.05 par value; 50,000 shares
   authorized; 1,546,360 and 1,504,344 shares
   issued and outstanding at March 31, 1999
   and June 30, 1998                                 77,318           75,217
  Additional paid-in capital                     13,037,561       12,551,458
  Accumulated deficit                            (8,464,674)      (8,562,017)

                                                  4,851,162        4,285,950

                                                 11,819,686       12,061,906


                                       See accompanying notes.



                        Global Casinos, Inc. and Subsidiaries
                        Consolidated Statements of Operations
                         For the Three Months Ended March 31
                                   (Unaudited)


                                                         1999           1998
Revenues:
  Casino                                              1,606,593      2,394,434
  Bingo                                                 891,410        722,272
  Food and beverage                                      34,098         45,772
  Other                                                   7,417         13,118

                                                      2,539,518      3,175,596
Expenses:
  Cost of sales                                         487,657        436,262
  Operating, general, and administrative              1,389,976      1,999,926
  Depreciation and amortization                         213,737        262,154

                                                      2,091,370      2,698,342

Income from operations                                  448,148        477,254
Other income (expense):
  Interest income                                        15,868         15,971
  Interest expense, including $5,662 and $4,857
   to related parties at March 31, 1999 and 1998        (95,135)      (175,138)
  Unrealized net gain on marketable trading securities    2,768          1,008

                                                        (76,499)      (158,159)

Income before minority interest and extraordinary item  371,649        319,095
Extraordinary item - gain from restructuring of debt     11,500          6,279

Net income                                              383,149        325,374
Dividends on Class B preferred stock                    (68,605)

Net income available to common stockholders             314,544        325,374

Earnings per common share:
  Income from continuing operations                        0.19           0.21
  Extraordinary item                                       0.01
  Net income available to common stockholders              0.20           0.21

Earnings per common share - assuming dilution:
  Income from continuing operations                        0.14           0.21
  Extraordinary item                                       0.01
  Net income available to common stockholders              0.15           0.21


                                See accompanying notes.


                         Global Casinos, Inc. and Subsidiaries
                         Consolidated Statements of Operations
                          For the Nine Months Ended March 31
                                      (Unaudited)


                                                   1999            1998
Revenues:
  Casino                                        4,191,673        6,799,400
  Bingo                                         2,682,217        2,182,362
  Food and beverage                                89,371          137,500
  Other                                           149,771           60,867

                                                7,113,032        9,180,129
Expenses:
  Cost of sales                                 1,451,141        1,318,076
  Operating, general, and administrative        4,802,238        6,532,615
  Depreciation and amortization                   586,610          845,316
  Gain on sale of investment in subsidiaries     (189,250)

                                                6,650,739        8,696,007

Income from operations                            462,293          484,122
Other income (expense):
  Interest income                                  31,025           32,008
  Interest expense, including $28,511 and
   $30,240 to related parties at March 31, 1999
   and 1998                                      (331,675)        (504,986)
  Unrealized net gain on marketable trading
   securities                                      54,083            1,008

                                                 (246,567)        (471,970)

Income before minority interest and
 extraordinary item                               215,726           12,152
Minority interest in income of subsidiary                          (24,609)

Income (loss) before extraordinary item           215,726          (12,457)
Extraordinary item - gain from
 restructuring of debt                             77,601          197,209

Net income                                        293,327          184,752
Dividends on Class B preferred stock             (195,985)

Net income available to common stockholders        97,342          184,752

Earnings per common share:
  Income (loss) from continuing operations           0.01            (0.01)
  Extraordinary item                                 0.05             0.13
  Net income available to common stockholders        0.06             0.12

Earnings per common share - assuming dilution:
  Income from continuing operations                  0.01            (0.01)
  Extraordinary item                                 0.03             0.13
  Net income available to common stockholders        0.04             0.12


                                See accompanying notes.


                       Global Casinos, Inc. and Subsidiaries
                       Consolidated Statements of Cash Flows
                        For the Nine Months Ended March 31
                                   (Unaudited)


                                                             1999        1998

CASH FLOWS FROM OPERATING ACTIVITIES
    Net cash provided by operating activities              460,400     626,677

CASH FLOWS FROM INVESTING ACTIVITIES
  Purchase of equipment                                   (375,968)   (250,684)
  Collections on notes receivable                           45,050      34,544
  Purchase of marketable securities                       (201,524)    (36,813)
  Settlement upon termination of operating lease           400,000
  Acquisition of Alaska Bingo Supply, net of cash acquired            (383,090)
  Issuances of notes receivable                                        (64,778)
  Distribution to minority interest                                    (55,716)

    Net cash used in investing activities                 (132,442)   (756,537)

CASH FLOWS FROM FINANCING ACTIVITIES
  Principal payments of long-term debt                    (174,640)   (590,677)
  Issuances of long-term debt                              254,911     474,879
  Principal payments of notes payable                      (71,678)
  Borrowings against notes payable                         150,000      50,000
  Issuance of common stock                                             187,500
  Payment of mandatory redeemable preferred stock           (2,500)    (17,500)
  Redemption of Class B preferred stock                   (356,783)
  Payment of dividends on Class B preferred stock         (178,680)

    Net cash (used in) provided by financing activities   (379,370)    104,202

Net (decrease) increase in cash                            (51,412)    (25,658)
Cash at beginning of year                                  722,893   1,048,371

Cash at end of year                                        671,481   1,022,713



                                   (Continued)


                     Global Casinos, Inc. and Subsidiaries
                     Consolidated Statements of Cash Flows
                      For the Nine Months Ended March 31
                                  (Continued)
                                  (Unaudited)


                                                             1999        1998

SUPPLEMENTAL CASH FLOW INFORMATION:
  Cash paid for interest                                    233,608    177,902

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND
FINANCING ACTIVITIES:
  Mandatory redeemable preferred stock converted
   to common stock                                            3,500
  Debt and accrued interest converted to common stock       124,096     89,000
  Debt converted to Class B preferred stock                 150,000
  Debt and accrued interest converted to Class C
   preferred stock, including $364,663 to related parties   584,605
  Class A preferred stock converted to common stock          25,000
  Dividends accrued on Class B and Class C preferred stock   17,304


  Acquisition of Alaska Bingo Supply:
    Fair value of assets acquired                                      620,587
    Intangible assets                                                  3,863,614
    Liabilities assumed                                               (101,111)
    Fair value of assets exchanged                                   (4,000,000)

    Cash received, net of cash acquired                                383,090



                             See accompanying notes.



                Global Casinos, Inc. & Subsidiaries
             Notes to Consolidated Financial Statements
                    March 31, 1999 (Unaudited)

1.   Organization

     At March 31, 1999, and for the three and nine months ended
     March 31, 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 Pelican N.V. ("Pelican"), a St. Maarten limited
           liability company located on the island of St. Maarten in
           the Netherlands Antilles.
       
           Global Alaska Corporation ("Global Alaska"), which
           operates Alaska Bingo Supply, Inc. ("ABS") located in
           Anchorage, Alaska.
       
           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 (Note 3).
       
           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 (Note 3).
       
           Global Casinos International, Inc. ("Global International"),
           a Delaware corporation, which through an International
           Joint Venture ("IJV") operated Casino Las Vegas in Bishkek,
           Kyrgyzstan.  The Company transferred its interest in Casino
           Las Vegas to its IJV partner in April 1998.
       
          
2.   Equity conversion

     In January 1999, the Board of Directors of the Company
     ratified the issuance of the newly designated Series C
     preferred stock. The stock has a par value of $.01, is
     voting, and is convertible into common stock at a rate of
     $1.20.  Holders of Series C preferred stock are entitled to
     receive dividends at the annual rate of 7% based on the
     stated value per share.  The dividends are cumulative, with
     any outstanding unpaid dividends bearing interest at an
     annual rate of 10%.
     
     In January 1999, several creditors agreed to convert their
     debt to Series C preferred stock, with the conversion to be
     effective December 31, 1998. Principal of $487,220 and
     accrued interest of $97,385 were converted to 487,172 shares
     of Series C preferred stock.  Included in the conversion
     were $258,869.89 and $46,394.90 in principal and accrued
     interest, respectively, to related parties.

3.   Dispositions

     Casino Masquerade

     On December 23, 1998, the Company completed the dissolution
     of Casino Masquerade.  The Company had operated the casino
     located in the Radisson Aruba Caribbean Hotel on the island
     of Aruba through February 28, 1998, at which time the hotel
     was closed for major repairs and renovations.  Due to
     protracted delays in completing the renovations and other
     adverse business circumstances, the Company was able to
     negotiate an early termination of the remaining term of the
     casino lease.  In consideration, the Company received a cash
     payment of $400,000 and the issuance of hotel trade credits
     having a face value of $600,000.  At March 31, 1999, the
     hotel credits are recorded at their estimated present value
     of $485,572.
     
     Effective December 31, 1998, the Company agreed to sell all
     of the outstanding shares of BPJ to an unaffiliated third
     party. The Company recognized a gain of $183,856 in
     connection with the disposition.
     
     Destination Marketing Services, Inc.

     Effective October 1, 1998 the Company sold in a management
     buy-out all of the outstanding shares of common stock which
     it had acquired in January 19998 to DMS's president. Under
     the terms of the buy-out, the Company will receive an
     aggregate of $20,000 over three years and will be
     indemnified against certain liabilities, including payroll
     taxes.  DMS was not considered to be a significant
     subsidiary of the Company.  The Company recognized a gain of
     $5,394 in connection with the disposition.

     The following unaudited proforma consolidated results
     of operations for the nine months ended March 31, 1999
     and 1998 have been prepared as if the dispositions had
     occurred on July 1, 1998 and 1997:

                                 1999         1998
                                 
     Total revenues              $6,755,284   $6,462,979
     Income (loss) before      
      extraordinary item            800,592   (1,310,169)
     Net income (loss)              878,553   (1,137,569)
                                              
     Income (loss) per share                  
      before extraordinary item  $      .53   $     (.90)
     Net income (loss) per
      share                      $      .58   $     (.79)
        
     
     
4.   Preliminary Lease and Operating Agreement- Casino Calypsso

     The Company has reached a preliminary agreement with
     the management of the Hotel Calypsso in Salinas,
     Ecuador to lease approximately 3,500 square feet within
     the hotel to operate a casino.  The casino's operations
     will not be significant to the Company's consolidated
     financial statements. As of March 31, 1999, the Company
     had invested approximately $121,000 toward the
     development of the casino.  The investment is being
     classified as a related party accounts receivable until
     such time as the agreement is finalized.
     
5.   Marketable trading securities

     Included in marketable trading securities at March 31,
     1999 are 300,000 shares of First Entertainment (FEI)
     common stock with a recorded value of $.30 per share.
     In May 1997, the Company divested itself of its
     investment in Global Internet after it became aware
     that Internet gaming could impair its Colorado state
     gaming license.  The Company sold a convertible
     promissory note, advances, and interest receivable with
     a recorded value of $375,000 for 30,000 shares of FEI
     Class B preferred stock with a face value of $12.50 per
     share, convertible into FEI common shares at $1.25.  In
     addition, it sold 1,500,000 Global Internet shares in
     exchange for 1,500,000 FEI warrants convertible into
     1,500,000 shares of FEI common stock at $1.00 per share
     for a period of five years.
     
     As FEI was thinly capitalized and did not appear at the
     time to have the resources available to continue
     development of Global Internet, the Company fully
     expensed its investment in FEI.  In December 1998, the
     Company converted all of its FEI Class B preferred
     stock into common stock and recorded the investment at
     the reported market value of $.30 per share.  The
     Company did not record or assign a value to the
     convertible warrants.  At March 31, 1999 FEI common
     stock had a market value of $1.20 per share.  The
     Company did not recognize an unrealized gain of its
     investment in FEI as the shares were restricted and
     salability was questionable.  The Company will
     recognize gains or losses based upon future actual
     transactions involving FEI common shares or warrants.

6.   Earnings per share

     During the year ended June 30,1998, the Company adopted SFAS
     No. 128, "Earnings Per Share".  Basic earnings per share
     represents net earnings divided by the weighted-average
     number of common shares outstanding for the period. Diluted
     earnings per share represents net earnings divided by the
     weighted-average number of shares outstanding, inclusive of
     the dilutive impact of common stock equivalents. During the
     three-month and nine-month periods ended March 31, 1999, the
     difference between the weighted average number of shares
     used in the basic computation compared to that used in the
     diluted computation was due to the dilutive impact of
     options to purchase common stock and the conversion of Class
     B and C preferred stock. The adoption of SFAS No. 128 did
     not result in a change in previously presented EPS for the
     three and nine months ended March 31, 1998.
     
     The following table reconciles the basic to diluted earnings
     per share calculation:
     
                                                1999               1998
                                           3 ME     9 ME      3 ME       9 ME
     Income available to                                
     common stockholders -basic      $  314,544 $   97,344 $  325,374 $  184,752
     Less dividends on preferred
      stock                             (8,728)    (7,494)

     Income available to common
      stockholders - diluted         $  305,816 $   89,850 $  325,374 $  184,752
                                                        
     Weighted average shares - basic  1,545,344  1,521,985  1,499,891  1,446,448
       Options                            6,667     39,099          
       Convertible Class B
        preferred stock                  30,850     30,850
       Convertible Class C                      
        preferred stock                 405.977    405,977
                                                         
     Weighted average shares -
        diluted                       1,988,838  1,997,911  1,499,891  1,446,448
                                                         
     
     
ITEM 6.   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 March 31, 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 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 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, its
operations are the strongest from September through April when
people do not tend to be outdoors.

Bull Durham Saloon and Casino

The Bull Durham is located approximately one hour from Denver,
Colorado in the town of Black Hawk. In November, the casino
completed its expansion project that increased the gaming space
approximately 2,100 square feet.  The casino now operates with
144 slot machines and three tables, and plans to open a fourth
table in summer 1999. The Bull Durham employs an average of 56
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.  With an approximate 30%
market share, ABS is the largest distributor of bingo products in
the state. ABS also receives rent income from the leasing of
space to two bingo hall operators.  ABS employs seven full-time
employees.

Results of Operations - Nine Months Ended March 31, 1999 Compared
to the Nine months Ended March 31, 1998

The Company earned net income of $293,327 for the nine months
ended March 31, 1999, which was an increase of $108,575 compared
to the same period in 1998 of $184,752. Net income available to
common stockholders was $97,342 for the nine months ended March
31, 1999 compared to $184,752 for the period in 1998.  The
$87,410 decrease in income was due to gains from debt
restructuring offset by dividends paid on Class B preferred
stock.

The results of operations for the nine months ended March 31,
1999 were comprised of Bull Durham, Pelican Casino, Alaska Bingo
Supply, and Destination Marketing (through September 30, 1998).
The period in 1998 was comprised of Bull Durham, Pelican Casino,
eight months of Alaska Bingo Supply operations, Casino Las Vegas,
and Casino Masquerade.

During the second quarter of 1999, 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.  Due to protracted delays in completing the
renovations and other adverse business circumstances, the Company
was able to negotiate an early termination of the remaining term
of the casino lease.  In consideration, the Company received a
cash payment of $400,000 and the issuance of hotel trade credits
having a face value of $600,000.  At March 31, the hotel credits
are recorded at their estimated present value of $485,572.
Effective December 31, 1998, the Company agreed to sell all of
the outstanding shares of BPJ to an unaffiliated third party. The
Company transferred its interest in Casino Las Vegas to its
minority interest partner in April 1998.

Revenues

The Company's revenues are generated from casino operations,
sales of bingo products, and miscellaneous income that is
comprised of food and beverage sales at the casinos and rental of
bingo halls.  Revenues for the nine months ended March 31, 1999
were $7,113,032 compared to $9,180,129 for the 1998 period, a
decrease of $2,067,097 or 23%.  The decrease is due to the 1999
period not containing any revenue from Casino Masquerade and
Casino Las Vegas. Revenues from these two sources for the nine
months ended March 31, 1998 were $3,138,292.

Bull Durham's revenues increased $242,282 to $2,044,644 for the
nine months ended March 31, 1999 compared to $1,802,362 for the
period in 1998.  The increase is largely due to the expansion
that opened November 1998.  The Pelican Casino's revenues
decreased $16,334 to $2,013,956 for the nine months ended March
31, 1999 compared to $2,030,289 for the same period in the prior
year.

Alaska Bingo Supply's revenues increased $506,502 to $2,696,685
for the nine months ended March 31, 1999 compared to $2,190,183
for the eight months ended March 31, 1998.  Besides including one
more month of operations, Alaska Bingo's sales were 11% higher
for the period in 1999 compared to the same period in 1998.

Expenses

Cost of sales increased $133,065 to $1,451,141 for the nine
months ended March 31, 1999 compared to $1,318,076 for the period
in 1998.  The increase is due to the period in 1999 including an
additional month of Alaska Bingo operations.  Alaska Bingo's
gross profit is the same for both the nine months ended March 31,
1999 and 1998 at approximately 56%.

Operating, general, and administrative expenses decreased
$1,730,377 to $4,802,238 for the nine months ended March 31, 1999
compared to $6,532,615 for the period in 1998. The decrease is
primarily due to Casino Masquerade and Casino Las Vegas being
operational during the nine months ended March 31, 1998. Expenses
for those two properties totaled $2,512,490 for the nine months
ended March 31, 1998.

Depreciation and amortization costs decreased $258,706 to
$586,610 for the nine months ended March 31, 1999 compared to
$845,316 for 1998.  The decrease is due predominantly once again
to Casino Masquerade and Casino Las Vegas being fully operational
during the nine months ended March 31, 1998.  Bull Durham's
depreciation increased 22% due to depreciation of fixed assets
acquired through its expansion.

Other income net of expenses decreased $225,403 to $(246,567) for
the nine months ended March 31, 1999 compared to $(471,970) in
1998.  Interest expense decreased approximately $173,311 due
primarily to the conversion of the promissory note issued to the
seller of ABS to Series B preferred stock in March 1998. In
addition, the Company recognized $53,075 in unrealized gains on
its marketable trading securities.

Extraordinary items decreased $119,608 to $77,601 for the nine
months ended March 31, 1999 compared to $197,209 in 1998.
Extraordinary items relate to gains from debt restructuring and
extinguishment.

Management knows of no trends or uncertainties that will have, or
are reasonably likely to have, a material impact on the income
and expenses of the Company.

Liquidity and Capital Resources - March 31, 1999 compared to
June 30, 1998

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.

While the Company continues to face a shortage of working
capital, the deficiency decreased by $619,676 to $(2,033,274) at
March 31, 1999 from $(2,652,950) at June 30, 1998. Current assets
increased to $2,243,124 at March 31, 1999 from $1,898,478 at June
30, 1998, an increase of $344,646 or 18%. Current liabilities
decreased to $4,276,398 at March 31, 1999 from $4,551,428 at June
30, 1998, a decrease of $275,030 or 6%.  The decrease in the
working capital deficit was due mainly to conversions of debt to
equity and management's continued efforts to reduce operating
costs.  Increases in accounts receivable and purchases of
marketable securities also reflected positively on reducing the
working capital deficit.

Effective December 1998, the Company issued a new series of Class
C preferred stock.  The stock has a par value of $.01, is voting,
and is convertible into common stock at a rate of $1.20.  Holders
of Class C preferred stock are entitled to receive dividends at
the annual rate of 7% based on the stated value per share.  The
dividends are cumulative, with any outstanding unpaid dividends
bearing interest at an annual rate of 10%. Principal of $487,220
and accrued interest of $97,385 were converted to 487,172 shares
of Class C preferred stock.  Included in this transaction were
principal and interest of $299,720 and $64,943, respectively, to
related parties which were converted into 303,886 shares of Class
C preferred stock.

During the nine months ended March 31, 1999, certain debt
restructurings resulted in gains reported as extraordinary items.
In December 1998, $100,000 of principal and $16,722 in accrued
interest was converted into 36,669 shares of common stock, at a
gain of $37,549.  Principal of $150,000 was converted into 15,000
shares of Class B preferred stock.  A creditor accepted payment
of $15,000 for $43,552 in principal and accrued interest,
resulting in a $28,552 gain.  The holder of $27,500 of mandatory
redeemable preferred stock accepted payment of $16,000, resulting
in a $11,500 gain. The Company will continue to work toward
renegotiating its current debts to extend their maturities or
obtain reduced payments.

In conjunction with the dissolution of Casino Masquerade, the
Company received $400,000 in cash and hotel credits with a face
value of $600,000 at the renovated Radisson Aruba Caribbean
Hotel.  The Company used the cash proceeds to acquire marketable
trading securities and make payments toward various accounts
payable and debt.  The hotel credits, with an estimated present
value of $485,572 at March 31, 1999, can be used for a six-year
period commencing January 1, 2000.  The Company intends to use
the hotel credits for marketing purposes and as consideration for
debt payments.

Net cash provided by operating activities decreased $166,277 to
$460,400 for the nine months ended March 31, 1999 compared to
$626,677 for the same period in 1998.  The decrease reflects
management's' continuing efforts to reduce overhead and pay
liabilities more currently.

Net cash used in investing activities decreased $624,095 to
$132,442 during the nine months March 31, 1999 compared to
$756,537 for the same period in 1998.  The main reason for the
decrease is that the Company used $383,090, net of cash acquired,
for the purchase of Alaska Bingo Supply in fiscal year 1998
versus receiving $400,000 in fiscal year 1999 as part of the
Casino Masquerade lease settlement. The Company purchased
$125,284 more in fixed assets during the nine months ended March
31, 1999 compared to the period in 1998, primarily for the
expansion of Bull Durham.

Potential development - Salinas, Ecuador

The Company has reached a preliminary agreement with the
management of the Hotel Calypsso in Salinas, Ecuador to
lease approximately 3,500 square feet within the hotel to
operate a casino.  Salinas is a beach resort city located
approximately two hours from Guayaquil, the largest city in
Ecuador.  The casino's customers will be primarily
Ecuadorian and South American tourists with most activity
occurring on weekends and from November through May. The
casino's operations, which will not be significant to the
Company's consolidated financial statements, will consist
mainly of slot machines and some table games. As of March
31, 1999, the Company had invested approximately $121,000
toward the development of the casino.  The investment is
being classified as a related party accounts receivable
until such time as the agreement is finalized.

During the nine months ended March 31, 1999, the Company
purchased $164,711 more in marketable securities compared to
the period in 1998The securities are held for trade and are
valued at their current market value.   Included in
marketable securities at March 31, 1999 are 300,000 shares
of First Entertainment (FEI) common stock with a recorded
value of $.30 per share.  In May 1997, the Company divested
itself of its investment in Global Internet after it became
aware that Internet gaming could impair its Colorado state
gaming license.  The Company sold a convertible promissory
note, advances, and interest receivable with a recorded
value of $375,000 for 30,000 shares of FEI Class B preferred
stock with a face value of $12.50 per share, convertible
into FEI common shares at $1.25.  In addition, it sold
1,500,000 Global Internet shares in exchange for 1,500,000
FEI warrants convertible into 1,500,000 shares of FEI common
stock at $1.00 per share for a period of five years.
     
As FEI was thinly capitalized and did not appear at the time
to have the resources available to continue development of
Global Internet, the Company fully expensed its investment
in FEI.  In December 1998, the Company converted all of its
FEI Class B preferred stock into common stock and recorded
the investment at the reported market value of $.30 per
share.  The Company did not record or assign a value to the
convertible warrants.  At March 31, 1999 FEI common stock
had a market value of $1.20 per share.  The Company did not
recognize an unrealized gain of its investment in FEI as the
shares were restricted and salability was questionable.  The
Company will recognize gains or losses based upon future
actual transactions involving FEI common shares or warrants.

The Company used $379,370 in cash for financing activities during
the nine months ended March 31, 1999 compared to financing
activities providing $104,202 during the same period in 1998.
During 1999, $535,463 was used to pay dividends on and redeem
shares of Series B preferred stock.  Proceeds in excess of
payments of long term debt and notes payable was $158,593 for the
nine months ended March 31, 1999 compared to payments in excess
of proceeds of $65,798 for the same period in the prior year, an
increase of $224,421.

As of March 31, 1999 none the Company's subsidiaries have
commercial bank credit facilities.  Management is currently
negotiating with several financial institutions to obtain
revolving lines of credit for the operating subsidiaries to use
for working capital during slow seasons.

The Company continues its efforts to formulate plans and
strategies to address the Company's financial condition and
increase profitability. Management continues to negotiate with
creditors of debt that remain in default.  The Company also
continues to explore acquisition opportunities.  Management
believes that these plans will result in increased liquidity and
future profitability.

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.


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.

     Item 5.    Other Information

                As previously disclosed, the Company received
                notification from the Nasdaq Stock Market of its
                possible delisting from Nasdaq due to several
                factors, including the Company's history of
                operating losses and its failure to satisfy Nasdaq's
                minimum net tangible asset requirement.  The Company
                has taken steps to cure its net tangible asset
                deficiency and intends to adopt further measures in
                an effort to maintain its Nasdaq listing.

     Item 6(a). Exhibits

                None, except as previously disclosed.

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

                The following reports on Form 8-K were filed during
                the third quarter ended March 31, 1999:

                        Date                 Item
                  January 4,1999    Resignation of Auditors
     


                        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:  May   21, 1999     By:/s/Stephen G. Calandrella
                                Stephen G. Calandrella, President

Date:  May   21, 1999     By:/s/Barbara C. Chacon
                                Barbara C. Chacon, Chief Financial Officer