<PAGE>
                                  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, 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  May 24, 2000,  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 March 31, 2000 (unaudited) and June 30, 1999

          Statements of Operations for the Three Months Ended March 31, 2000
          (unaudited) and March 31, 1999 (unaudited)

          Statements of Operations for the Nine Months Ended March 31, 2000
          (unaudited) and March 31, 1999 (unaudited)

          Statements of Cash Flows for the Nine Months Ended March 31, 2000
          (unaudited) and March 31, 1999 (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) 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, 2000, and its results of operations for the three and nine-month periods
ended March 31, 2000 and 1999 and its cash flows for the nine-month periods
ended March 31, 2000 and 1999. The Company's balance sheet as of June 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>
                              GLOBAL CASINOS, INC
                          CONSOLIDATED BALANCE SHEETS
                                (In Thousands)

<TABLE>
<CAPTION>
                                                 March 31,      June 30,
                                                   2000           1999
                                                (unaudited)
                                               -------------  ------------
<S>                                            <C>            <C>

          ASSETS
          ------
Current assets:
  Cash                                         $        347   $        505
  Accounts receivable:
     Trade, net of allowance for doubtful
       accounts of  $70 and $88 at March 31,
       2000 and June 30, 1999                           340            386
     Related parties                                      -             22
  Inventory                                             369            260
  Prepaid rent                                            -            116
  Current portion of notes receivable                    81            156
  Marketable trading securities                       1,569            851
  Other                                                  88             67
                                               -------------  ------------
       Total current assets                           2,794          2,363
                                               -------------  ------------
Land, building and improvements and equipment:
  Land                                                  518            518
  Building and improvements                           4,079          4,072
  Equipment                                           1,916          2,027
                                               -------------  ------------
                                                      6,513          6,617
  Accumulated depreciation                           (1,890)        (1,872)
                                               -------------  ------------
                                                      4,623          4,745
                                               -------------  ------------
Other assets:
  Leasehold rights and interests and contract
     rights, net of amortization of $1,045 and
     $848 at March 31, 2000 and June 30, 1999         1,245          1,441
  Goodwill, net of amortization of $385 and
     $276 at March 31, 2000 and June 30, 1999         1,780          1,888
  Hotel credits                                         507            493
  Notes receivable, net of current portion,
     including receivables in default                   145            197
  Other assets, net of amortization of $ - and
     $26 at March 31, 2000 and June 30, 1999            151             25
  Restricted cash                                         -            140
  Property rights held for sale                         200            200
                                               -------------  ------------
                                                      4,028          4,384
                                               -------------  ------------
                                               $     11,445   $     11,492
                                               =============  ============
          LIABILITIES AND STOCKHOLDERS' EQUITY
          ------------------------------------
Current liabilities:
  Accounts payable, including $78 and $82 to
     a related party at March 31, 2000 and
     June 30, 1999                             $        831   $        506
  Accrued expenses:
     Wages and taxes                                    240            570
     Casino license fees                                  -          1,169
     Interest, including $61 and $14 to related
       parties at March 31, 2000 and June 30,
       1999                                             381            308
     Other                                              567            265
  Note payable                                          199            301
  Current portion of long-term debt, including
     debt in default and $1,078 and $439 to
     related parties at March 31, 2000 and
     June 30, 1999                                    2,527          1,712
  Other                                                  40             40
                                               -------------  ------------
       Total current liabilities                      4,785          4,871
                                               -------------  ------------
Long-term debt, less current portion                  2,530          2,580
                                               -------------  ------------
Mandatory redeemable voting Class C preferred
  stock, 487,172 issued and outstanding                 585            585
                                               -------------  ------------
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 at March 31, 2000 and June 30,
     1999                                               193            193
     Class B - $.01 par value, nonvoting,
       257,795 and 296,329 shares issued and
       outstanding at March 31, 2000 and June 30,
       1999                                               3              3
  Common stock - $.05 par value; 50,000,000
     shares authorized; 1,546,360 shares issued
     and outstanding at March 31, 2000 and
     June 30, 1999                                       77             77
  Additional paid-in capital                         12,074         12,335
  Accumulated deficit                                (8,802)        (9,152)
                                               -------------  ------------
                                                      3,545          3,456
                                               -------------  ------------
                                               $     11,445   $     11,492
                                               =============  ============
</TABLE>


                            See accompanying notes

<PAGE>
<PAGE>
                             GLOBAL CASINOS, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                     FOR THE THREE MONTHS ENDED MARCH 31,
                                  (Unaudited)
                                (In Thousands)

<TABLE>
<CAPTION>
                                                   2000           1999
                                               -------------  ------------
<S>                                            <C>            <C>

Revenues:
  Casino                                       $        889   $      1,607
  Bingo                                                 884            891
  Food and beverage                                     173             34
  Other                                                  41              7
                                               -------------  ------------
                                                      1,987          2,539
                                               -------------  ------------
Expenses:
  Cost of sales                                         604            488
  Operating, general, and administrative              1,423          1,390
  Depreciation and amortization                         224            213
  Other                                                  26              -
                                               -------------  ------------
                                                      2,277          2,091
                                               -------------  ------------
Income (loss) from operations                          (290)           448
                                               -------------  ------------
Other income (expense):
  Interest income                                         4             16
  Interest expense, including $15 and $6 to
     related parties at March 31, 2000 and 1999        (115)           (95)
  Realized gain on sale of marketable
     securities                                         282               -
  Unrealized net gain on marketable securities            1              3
                                               -------------  ------------
                                                        172            (76)
                                               -------------  ------------
Income (loss) before extraordinary item                (118)           372
Extraordinary item - gain from restructuring
  of debt                                                 -             12
                                               -------------  ------------
Net income (loss)                                      (118)           384
Dividends on Class B and C preferred stock              (63)           (69)
                                               -------------  ------------
Net income (loss) available to common
  stockholders                                 $       (181)  $        315
                                               =============  ============

Earnings (loss) per common share - basic and
  diluted:
  Income (loss) from continuing operations     $      (0.12)  $       0.19
  Extraordinary item                                       -          0.01
                                               -------------  ------------
  Net income (loss) available to common
     stockholders                              $      (0.12)  $       0.20
                                               =============  ============
  Weighted average shares outstanding             1,546,360      1,504,461
                                               =============  ============
</TABLE>
                            See accompanying notes
<PAGE>
<PAGE>
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                      FOR THE NINE MONTHS ENDED MARCH 31
                                  (Unaudited)
                                (In Thousands)

<TABLE>
<CAPTION>
                                                   2000           1999
                                               -------------  ------------
<S>                                            <C>            <C>

Revenues:
  Casino                                       $      3,259   $      4,192
  Bingo                                               2,847          2,682
  Food and beverage                                     239             89
  Other                                                  91            150
                                               -------------  ------------
                                                      6,436          7,113
                                               -------------  ------------
Expenses:
  Cost of sales                                       1,693          1,451
  Operating, general, and administrative              4,672          4,802
  Depreciation and amortization                         723            586
  Other                                                  26              -
                                               -------------  ------------
                                                      7,114          6,839
                                               -------------  ------------
Income (loss) from operations                          (678)           274
                                               -------------  ------------
Other income (expense):
  Interest income                                        28             31
  Interest expense, including $40 and $4 to
     related parties at March 31, 2000 and 1999        (333)          (331)
  Gain on sale of subsidiaries                        1,176            189
  Realized gain on sale of marketable securities        417              -
  Unrealized net gain/(loss) on marketable
     securities                                         (89)            54
                                               -------------  ------------
                                                      1,199            (57)
                                               -------------  ------------
Income before extraordinary item                        521            217
Extraordinary item - gain from restructuring
  of debt                                                55             77
                                               -------------  ------------
Net income                                              576            294
Dividends on Class B and C preferred stock             (202)          (196)
                                               -------------  ------------
Net income available to common stockholders    $        374   $         98
                                               =============  ============
Earnings per common share - basic and diluted:
  Income from continuing operations            $       0.20   $       0.01
  Extraordinary item                                   0.04           0.05
                                               -------------  ------------
  Net income available to common stockholders   $      0.24         $ 0.06
                                               =============  ============
  Weighted average shares outstanding             1,546,360      1,510,560
                                               =============  ============
</TABLE>



                            See accompanying notes

<PAGE>
<PAGE>
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                      FOR THE NINE MONTHS ENDED MARCH 31
                                  (Unaudited)
                                (In Thousands)


<TABLE>
<CAPTION>
                                                   2000           1999
                                               -------------  ------------
<S>                                            <C>            <C>

CASH FLOWS FROM OPERATING ACTIVITIES
  Net cash provided by operating activities    $        334   $        460
                                               -------------  ------------
CASH FLOWS FROM INVESTING ACTIVITIES
  Purchase of equipment                                (214)          (376)
  Collections on note receivable                         48             45
  Issuance of note receivable                             -            400
  Purchases of marketable trading securities         (1,176)          (201)
  Sales of marketable trading securities                786              -
                                               -------------  ------------
     Net cash used in investing activities             (556)          (132)
                                               -------------  ------------
CASH FLOWS FROM FINANCING ACTIVITIES
  Principal payments of long-term debt                 (102)          (174)
  Issuances of long-term debt                         1,177            255
  Principal payments of notes payable                  (572)           (72)
  Borrowings against notes payable                        -            150
  Payment of mandatory redeemable preferred stock         -             (3)
  Redemption of Class B preferred stock                (261)          (357)
  Payment of dividends on Class B preferred stock      (179)          (178)
                                               -------------  ------------
     Net cash provide bu (used in) financing
       activities                                        63           (379)
                                               -------------  ------------
Net decrease in cash                                   (159)           (51)
Cash at beginning of year                               506            723
                                               -------------  ------------
Cash at end of year                            $        347   $        672
                                               =============  ============
SUPPLEMENTAL CASH FLOW INFORMATION:
  Cash paid for interest                       $        145   $        233

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING
  AND FINANCING ACTIVITIES:
  Mandatory redeemable preferred stock
     converted to common stock                 $          -   $          4
  Fixed assets acquired through debt           $        376   $          -
  Dividends accrued on Class B and Class C
     preferred stock                           $         31   $         10
  Debt converted into common stock                            $        124
  Debt converted into Class B preferred stock                 $        150
  Debt converted into Class C preferred stock
     including $365 to related party                          $        585
  Class A preferred stock converted into common               $         25

</TABLE>

                            See accompanying notes

<PAGE>
<PAGE>
                      GLOBAL CASINOS, INC. & SUBSIDIARIES
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                MARCH 31, 2000
                                  (Unaudited)

1.   ORGANIZATION and SIGNIFICANT ACCOUNTING POLICIES

     The Consolidated Financial Statements for the three months and nine
     months ended March 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 March 31, 2000, and for the three months and nine months ended march
     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.

     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.

     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 income or loss per share represents the net income or loss
     available to common stockholders divided by the weighted average number
     of common shares outstanding during the year.  Diluted income/(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 income/(losses) of the entity.

     The Company's operating history of losses has resulted in an average
     market price per common share that is substantially lower than the
     conversion prices on the existing convertible preferred stock, stock
     options, stock warrants, and convertible promissory notes of $1.00 to
     $5.00 per share.  As a result of this situation, any issuance of
     additional common stock could result in a reduction of total common
     shares outstanding which would have the effect of increasing the income
     per share on a diluted basis.

     Convertible preferred stock, stock options, stock warrants and
     convertible promissory notes are not considered in the calculation for
     the years ended June 30, 1999 and the three months and nine months ended
     March 31, 2000 as the impact of the potential common shares would be to
     either increase the income per share or decrease the loss per share.
     Therefore, diluted income or loss per share is equivalent to basic loss
     per share.

4.   DISPOSITION OF SUBSIDIARIES

     On December 30, 1999, Global Casinos, Inc (Global) sold all of the issued
     and outstanding shares of capital stock of its wholly-owned subsidiary,
     Global Pelican, N.V., a St. Maarten Limited Liability Company, to
     Arufinance, N.V., an Aruba Corporation, (Arufinance)  pursuant to a Stock
     Purchase Agreement dated as of December 30, 1999 (the Agreement) among
     Global and Arufinance.

     Arufinance acquired all of the capital stock issued and outstanding of
     Global Pelican, N.V. from Global for a negotiated purchase price of
     $1,000.  Arufinance acquired all of the remaining assets and liabilities
     of Global Pelican, N.V. as part of the stock purchase, effective with the
     closing date of December 30, 1999.  Global recognized a gain of
     $1,135,000 in connection with the disposition.

     As part of the stock sale transaction, Global retained accounts
     receivables in the form of outstanding and uncollected markers totaling
     $69,200, transferred by Global Pelican to Global, and the related
     allowance for doubtful accounts of $69,200.  Global also agreed to assume
     and pay an outstanding accounts payable account to vendor, Aristocrat, in
     the amount of $41,888 for certain gaming devices located in the Global
     Pelican casino.  This account payable was to be paid by the 30th of
     January, 2000.  This debt was restructured with the approval of
     Aristocrat within the agreed time frame.

     On December 31, 1998, Global agreed to sell all of the outstanding shares
     of BPJ to an unaffiliated third party.  Global recognized a gain of
     $183,856 in connection with the disposition.

     On October 1, 1998, Global also agreed to sell all of the outstanding
     shares to Destination Marketing Services, an insignificant subsidiary of
     the Company, recognizing a gain of $5,394 in connection with the
     disposition.

5.   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 nine
     months ended March 31, 2000 and 1999 (in thousands):

<TABLE>
<CAPTION>
                              Bingo     Bingo Hall
                    Casino    Products   Leasing       Other     Total
                    ------    --------  ---------      -----     -----
<S>                 <C>       <C>       <C>            <C>       <C>

     2000
     ----
Revenue             $3,589    $2,334    $513                     $6,436
Interest revenue                   2                   $    26       28
Interest expense       188        19                       126      333
Depreciation and
  amortization         353       336                        34      723
Realized and
  unrealized gains                                         328      328
Extraordinary items                                         55       55
Net income (loss)      457       111     135              (329)     374
Identifiable assets  6,108     1,045                     4,292   11,445
Capital expenditures   214                                          214

     1999
     ----
Revenue             $4,431    $2,169    $513                     $7,113
Interest revenue                   2                   $    29       31
Interest expense       152        28                       151      331
Depreciation and
  amortization         374       151                        61      586
Realized and
  unrealized gains                                          54       54
Net income (loss)      424       182       91             (599)      98
Identifiable assets  4,878       864                     6,077   11,819
Capital expenditures   361        14                         1      376

</TABLE>

     The following table sets forth financial information for the Company's
     foreign and domestic operations for the nine months ended March 31, 2000
     and 1999 (in thousands):

<TABLE>
<CAPTION>
                         Foreign**      Domestic       Total
                         -------        --------       -----
<S>                      <C>            <C>            <C>
     2000
     ----
Revenue                  $      -       $ 6,436        $ 6,436
Net income (loss)           1,176          (802)           374
Identifiable assets                      11,445         11,445

     1999
     ----
Revenue                  $  2,341       $  4,772       $ 7,113
Net income (loss)              43            141            98
Identifiable assets           550        11,269         11,819

</TABLE>
-----------------
**   Foreign includes the operations of Aruba and St. Maarten for the nine
     months ended March 31, 1999.


<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 March 31, 2000, 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; and Alaska
Bingo Supply ("ABS") in Anchorage, Alaska.  The Pelican Casino was sold
effective December 30, 1999, see Note 4.

The operations of the Company are seasonal.  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 159 slot machines
and three black jack tables. The Bull Durham employs an average of 37 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 16
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 - Nine Months Ended March 31, 2000 Compared to the Nine
Months ended March 31, 1999

The Company recognized net income of $576,000 for the nine months ended March
31, 2000, an increase of $304,000 compared to net income of $217,000 for the
same period in 1999. Net income available to common stockholders was $374,000
for the nine months ended March 31, 2000, compared to net income of $98,000
for the same period in 1999.

The results of operations for the nine  months ended March 31, 2000 were
comprised of Bull Durham, Tollgate, Pelican Casino (through the December 30,
1999 sale date), and Alaska Bingo Supply.  The period in 1999 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 period ended December 31,
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 nine months ended March 31, 2000 were $6,436,000 compared to
$7,113,000 for the 1999 period, a decrease of $677,00 or 10%.

Bull Durham's revenues decreased $83,000 to $1,962,000 for the nine months
ended March 31, 2000 compared to $2,045,000 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 nine
months ended March 31, 2000 were $591,000.

Alaska Bingo's revenues increased $150,000 to $2,847,000 for the nine months
ended March 31, 2000 compared to $2,697,000 for the period in 1999.  Of the
increase, approximately 65% came from the increase in pull tab sales.

Expenses

Cost of sales increased $242,000 to $1,693,000 for the nine months ended March
31, 2000 compared to $1,451,000 for the same period in 1999.  Approximately
85% of sales costs are incurred by Alaska Bingo. Alaska Bingo's gross profit
averaged approximately 52% for both of the nine month periods ended March 31,
2000 and 1999.

Operating, general, and administrative expenses decreased $130,000 to
$4,672,000 for the nine months ended March 31, 2000 compared to $4,802,000 for
the same period in 1999. The decrease is primarily due to costs incurred by
Casino Masquerade, Global Pelican and Destination Marketing during the nine
months ended March 31, 1999, which totaled $334,616. These cost reductions
were offset by $965,000 in operating costs incurred by Tollgate in its first
nine months of operations.

Depreciation and amortization costs increased $137,000 to $723,000 for the
nine months ended March 31, 2000 compared to $586,000 for 1999.  The increase
is due largely to the addition of gaming equipment at the Tollgate casino and
increased amortization expense recognized by Alaska Bingo due to increased
cost of bingo hall lease renewals.

Other income, net of expenses, increased $1,142,000 to $1,199,000 for the nine
months ended March 31, 2000 from a loss of $57,000 for the same period in
1999.  Gain on sale of subsidiaries for the Pelican Casino as of December 30,
1999 contributed $948,000 in other income for the 2000 period, compared to
$189,000 in 1999 for sales of the Casino Masquerade and Destination Marketing
Services subsidiaries. In. Net realized gains in the sale of marketable
trading securities exceeded unrealized losses by $274,000 for the nine months
ended March 31, 2000 compared to March 31, 1999.

The Company recognized an extraordinary item of $55,000 for the nine months
ended March 31, 2000 related to gains from debt restructuring and
extinguishments compared to a gain of $77,000 for the same period in 1999.
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 such loans.

The Company continues to address debt currently in default by conversion of
debt to equity, restructuring of amounts due and payment terms, etc.  There
can be no assurances, however, that the Company will be able to continue to
renegotiate its debt in default.  Should the Company be unsuccessful in these
endeavors, it would have a significant impact on the operations of the
Company.  Additionally, the Company is in the process of renewing its license
with the Colorado Gaming Commission.  Should the Company be unsuccessful in
obtaining this renewal, it would have a material adverse impact on the
operations of the Company.

The working capital deficiency decreased by $517,000 to $(1,991,000) at March
31, 2000 from $(2,508,000) at June 30, 1999. Current assets increased to
$2,794,000 at March 31, 2000 from $2,363,000 at June 30, 1999, an increase of
431,000 or 18%. Current liabilities decreased to $4,785,000 at March 31, 2000
from $4,871,000 at June 30, 1999, a decrease of $86,000 or 2%.  The decrease
in the working capital deficit was due mainly to the reduction of both
equipment and casino license fees liabilities associated with the Pelican
Casino sold on December 30, 1999, net of increases in equipment acquired for
the operations of the Tollgate Casino.  Additionally, the Company's working
capital deficit was positively impacted by an increase in the Company's
marketable trading securities of $718,000.

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.  The Company continues to monitor the operations of the Tollgate,
as no operating profits have been generated since the casino was opened.
Management believes that the upcoming summer months, where revenues typically
increase, will have positive impact on the operating results of the Tollgate.
There can be no assurances, however, that the Tollgate will be profitable in
the near term.  The operations of the Tollgate have been funded primarily
through advances made from the Bull Durham and from advances made by related
parties.  There can be no assurances, however, that the funds necessary to
continue the operations of the Tollgate will continue to be made by the Bull
Durham and by related parties.

During the nine months ended March 31, 2000, related parties made working
capital loans to the Company in the amount of $1,173,000.  The loans accrue
interest at 8% and 9%.  The Company paid $103,000 toward the principal of the
outstanding working capital loans.  At March 31, 2000, the Company owed
$1,078,000 to the related parties.  The Company incurred $374,000 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 $126,000 to $334,000 for
the nine months ended march 31, 2000 compared to $460,000 for the same period
in 1999.  The decrease is due largely to working capital costs incurred in the
first nine months of Tollgate Casino operations.

Investing activities used $556,000 in net cash during the nine months ended
March 31, 2000, compared to  $132,000 used in investing activities in 1999.
Purchases of equipment decreased $162,000, purchases of marketable trading
securities increased $975,000 and sales of marketable trading securities
increased by $786,000 for the nine months ended March 31, 2000 compared to
1999.

The Company will from time to time 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.  During the
nine months ended March 31, 2000, the Company recognized realized gains and
unrealized losses on marketable trading securities in the amount of $417,000
and ($89,000), respectively.

Cash flows from financing activities increased $442,000 to $63,000 for the
nine months ended March 31. 2000 compared to ($379,000) in 1999.  The increase
is primarily due to the Company borrowing $1,177,000 during the nine months
ended March 31, 2000.  Of this amount, $1,173,000 was borrowed from related
parties.  Should these related parties be unwilling to continue to advance
funds to the Company, primarily for working capital purposes, the Company
would experience a significant negative impact to its operations.

On July 7, 1999, the Company's common stock was de-listed from the NASDAQ
exchange due to concerns relating to whether the listing of the Company's
common stock on the NASDAQ was in the best interest of the public. The de-
listing of the Company's common stock could have a material adverse impact on
the Company's ability to raise 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's actions
will result in increased liquidity or future profitability.

Year 2000  Issue

The Company recognizes the need to ensure its operations will not be adversely
impacted by Year 2000 software failures.  The Company has addressed this risk
with no adverse impact on the reliability of the operational systems.  The
total cost of compliance and its effect on the Company's future results of
operations was determined to be insignificant in amount.

<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

          Acquisition or Disposition of Assets

<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:       May 26, 2000           By:  /s/ Stephen G. Calandrella
          ------------------            ------------------------------
                                        Stephen G. Calandrella, President