U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[X]      QUARTERLY REPORT PURSUANT SECTION 13 OR 15(D) OF THE SECURITIES
         EXCHANGE ACT OF 1934
         For the quarterly period ended: June 30, 2000

[ ]      TRANSITION REPORT PURSUANT SECTION 13 OF 15(D) OF THE SECURITIES
         EXCHANGE ACT OF 1934
         For the transition period from _______________ to ________________

                         Commission file number: 0-30263

                              SUREBET CASINOS, INC.
        (Exact name of small business issuer as specified in its charter)



                UTAH                                        75-1878071
   (State or other jurisdiction of                         (IRS Employer
    incorporation or organization)                       Identification No.)

                 1610 BARRANCAS AVENUE, PENSACOLA, FLORIDA 32501
                    (Address of principal executive offices)

                                 (850) 438-9647
                           (Issuer's telephone number)

                                 NOT APPLICABLE
      (Former name, former address and former fiscal year, if changed since
                                  last report)

         Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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    No  X

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of the last practicable date:

            7,884,038 SHARES OF COMMON STOCK, $.001 PAR VALUE, AS OF
                                  JUNE 30, 2000

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

<PAGE>



                      SUREBET CASINOS, INC. AND SUBSIDIARY
                              INDEX TO FORM 10-QSB


                                                                            PAGE

PART I.     FINANCIAL INFORMATION

  ITEM 1.   Consolidated Balance Sheets as of June 30, 2000 and
            March 31, 2000                                                    3

            Consolidated Statements of Operations for the three months
            ended June 30, 2000 and 1999                                      4

            Consolidated Statements of Cash Flows for the three months
            ended June 30, 2000 and 1999                                      5

            Notes to Consolidated Financial Statements                        6

  ITEM 2.   Management's Discussion and Analysis of Financial Condition
            and Results of Operations for the three months ended
            June 30, 2000 and 1999                                            8

PART II. OTHER INFORMATION

  ITEM 1.   Legal Proceedings                                                10

  ITEM 2.   Changes in Securities and Use of Proceeds                        10

  ITEM 3.   Defaults Upon Senior Securities                                  10

  ITEM 4.   Submission of Matters to a Vote of Security                      10

  ITEM 5.   Other Information                                                10

  ITEM 6.   Exhibits and Reports on Form 8-K                                 10

SIGNATURES                                                                   11





                                       2

<PAGE>



                      SUREBET CASINOS, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                        JUNE 30, 2000 AND MARCH 31, 2000
                                   (UNAUDITED)

                                     ASSETS
<TABLE>
<CAPTION>

                                                                                               JUNE 30        MARCH 31
<S>                                                                                         <C>             <C>

Current assets:
  Cash  and cash equivalents                                                                $   42,476      $   36,677
  Accounts Receivables                                                                           6,476           6,116
  Inventory                                                                                      6,795           8,715
                                                                                            ------------    ------------
     Total current assets                                                                       55,793          51,508
                                                                                            ------------    ------------

Furniture, leasehold improvements and equipment:
  Furniture and equipment                                                                       39,324          37,252
  Leasehold improvements                                                                        88,460          88,460
  Accumulated depreciation                                                                     (12,548)        (12,548)
                                                                                            ------------    ------------
     Net furniture and equipment                                                               115,236         113,164
                                                                                            ------------    ------------
Other assets:
  Deposit on claim                                                                             140,000         140,000
  Deposit on Colorado casino Lease                                                             200,000         200,000
  Other                                                                                         22,890             992
                                                                                            ------------    ------------
     Total other assets                                                                        362,890         340,992
                                                                                            ------------    ------------
        Total assets                                                                        $  533,919      $  505,664
                                                                                            ============    ============

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current liabilities:
  Accounts payable and accrued liabilities                                                  $  370,605      $  276,666
  Due to Shareholder                                                                            78,818         121,473
  Due to CSL Development Corporation                                                           752,828         267,589
                                                                                            ------------    ------------
         Total current liabilities                                                           1,202,251         665,728
                                                                                            ------------    ------------

Commitments and contingencies                                                                       --              --

Stockholders' equity (deficit):
  Preferred stock, $.01 par value, 500,000 shares authorized,
     none issued and outstanding                                                                    --              --
  Common stock, $.001 par value, 50,000,000 shares authorized,
     7,884,038 and 7,849,478 shares issued and outstanding                                       7,884           7,849
  Additional paid-in capital                                                                 5,577,219       5,555,654
  Accumulated deficit                                                                       (6,253,435)     (5,723,567)
                                                                                            ------------    ------------
     Total stockholders' equity (deficit)                                                     (668,332)       (160,064)
                                                                                            ------------    ------------
        Total Liabilities and Stockholders' Deficit                                         $  533,919      $  505,664
                                                                                            ============    ============
</TABLE>



    The accompanying notes are an integral part of these financial statements


                                       3
<PAGE>



                      SUREBET CASINOS, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      QUARTER ENDED JUNE 30, 2000 AND 1999
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                                                         2000               1999
                                                                         ----               ----
<S>                                                               <C>                 <C>
Revenue:
  Casino revenue                                                  $    498,896        $        --
  Ticket sales                                                         107,859                 --
  Food and beverage sales                                              145,041                 --
                                                                  -------------       -------------
   Total revenue                                                       751,796                 --
                                                                  -------------       -------------
Operating expenses:
  Cost of food and beverage sales                                      123,376                 --
  Casino operating costs                                               270,060                 --
  Casino vessel costs                                                  667,735                 --
  Start-up costs                                                            --                 --
  Sales and marketing                                                   88,743                 --
  General and administrative                                           161,750                 --
  Minority interest in losses                                          (30,000)                --
                                                                  -------------       -------------
   Total operating expenses                                          1,281,664                 --
                                                                  -------------       -------------
   Net income (loss) from continuing operations                       (529,868)                --
Discontinued operations:
  Gain on transfer of net liabilities to Imperial (Note 1)                  --
  Operating losses of discontinued business                                 --
                                                                  -------------       -------------
                                                                  $   (529,868)       $        --
                                                                  =============       =============
Basic net income (loss) per common share:
  From continuing operations                                      $      (0.07)       $        --
  From discontinued operations                                                                 --
                                                                  -------------       -------------
   Net income (loss)                                              $      (0.07)       $        --
                                                                  =============       =============
   Weighted average common shares outstanding                        7,864,542            979,489
                                                                  =============       =============
</TABLE>




    The accompanying notes are an integral part of these financial statements


                                       4

<PAGE>

                               SUREBET CASINOS, INC. AND SUBSIDIARY
                               CONSOLIDATED STATEMENTS OF CASH FLOWS
                               QUARTER ENDED JUNE 30, 2000 AND 1999
                                            (UNAUDITED)
<TABLE>
<CAPTION>

                                                                    2000               1999
                                                              -------------      -------------
<S>                                                           <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)                                             $  (529,868)       $       --
ADJUSTMENTS TO RECONCILE NET LOSS TO NET CASH
 used in operating activities:
  Depreciation                                                         --                --
  Shares issued for services                                           --
  Gain on transfer of net liabilities to Imperial                      --
  Minority interest in losses                                     (30,000)               --
  Changes in operating assets and liabilities:
   Accounts receivable                                               (406)               --
   Inventory                                                        1,920
   Other assets                                                   (21,898)
   Accounts payable and accrued liabilities                       536,523                --
   Net liabilities of discontinued operations                          --                --
                                                              -------------      -------------
       Net cash used in operating activities                      (43,729)               --
                                                              -------------      -------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of furniture and equipment                                (2,072)               --
                                                              -------------      -------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Net advances from shareholder                                          --                --
Sale of shares of subsidiary to minority interests                 30,000                --
Sale of common shares                                              21,600
                                                              -------------      -------------
       Net cash provided by financing activities                   51,600                --
                                                              -------------      -------------

Net increase (decrease) in cash and cash equivalents                5,799                --

Cash at beginning of year                                          36,677               362
                                                              -------------      -------------
Cash at end of year                                           $    42,476        $      362
                                                              =============      =============

SUPPLEMENTAL DISCLOSURE:
 Total interest paid                                          $        --        $       --
                                                              =============      =============
</TABLE>



    The accompanying notes are an integral part of these financial statements


                                       5
<PAGE>


                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.       UNAUDITED FINANCIAL INFORMATION

               The  accompanying   unaudited  condensed  consolidated  financial
         statements of sureBet Casinos Inc. and its majority-owned  subsidiaries
         (the  "Company")  have  been  prepared  in  accordance  with  generally
         accepted  accounting  principles for interim financial  information and
         with the  instructions  to Form  10-QSB of  Regulation  S-B of the U.S.
         Securities  and  Exchange  Commission.  They do not  include all of the
         information  and  notes  required  by  generally  accepted   accounting
         principles for complete corporate financial statements. However, except
         as  disclosed  herein,  there  has  been  no  material  change  in  the
         information  disclosed in the notes to the financial statements for the
         year ended March 31, 200  included in the  Company's  Annual  Financial
         Report  on  Form  10-KSB  filed  with  the   Securities   and  Exchange
         Commission.  The  unaudited  financial  statements  should  be  read in
         conjunction with these financial statements included in Form 10-KSB. In
         the opinion of management,  all  adjustments  consisting only of normal
         recurring accruals,  considered  necessary for a fair presentation have
         been included.  Operating results for the three-month period ended June
         30, 2000 are not  necessarily  indicative  of the  results  that may be
         expected for the year ending March 31, 2001.


2.       DESCRIPTION OF BUSINESS

               During the years  ended  March 31,  1999 and 1998 and the periods
         ended August 31, 1999 and 1998,  sureBET Casinos,  Inc. ("the Company")
         had no operating assets and has been  investigating  the acquisition of
         an operating  business.  The Company  changed its name on June 24, 1999
         from Wexford Technology,  Incorporated. In connection with an Agreement
         to Exchange  Stock with U.S.  Gaming and Leisure Corp.  ("USG&L")  (see
         below),  the Company  entered  into an Asset  Purchase  Agreement  (the
         "Agreement")  on  March  5,  1999  with  its  controlling  shareholder,
         Imperial  Petroleum,  Inc.  ("Imperial").  The Agreement  provides that
         Imperial  would acquire all the assets and  liabilities of the Company.
         No  consideration  was  exchanged  in  return  for the  sale of the net
         liabilities of the Company.  As a result of the Agreement,  the Company
         has no assets or liabilities as of March 31, 1999 or August 31, 1999.

               Accordingly,  as  a  result  of  the  Company's  liquidation  and
         abandonment  of its assets and  liabilities  to a "shell"  status,  the
         Company has accounted for its former operations as discontinued for all
         periods presented.  The common stock issued for services for the period
         ended August 31, 1999 has been reported as continuing  operations since
         the shares were issued to new continuing management of the Company.


               In connection  with the  Agreement to Exchange  Common Stock with
         USG&L,  dated May 12, 1999, which is contingent on a private  placement
         which has not been  completed,  the Company  will issue  6,000,000  new
         common  shares to  stockholders  of USG&L  for 100% of the  outstanding
         shares of USG&L.  As a result of the tax-free  transaction,  USG&L will
         become a wholly owned  subsidiary  of the Company.  The owners of USG&L
         obtained  effective  control Of the  Company in July 1999 by  obtaining
         control of the Board of Directors of the Company. USG&L is presently in
         the business of operating a cruise ship and,  after a private  offering
         to raise additional capital, intends to also enter the gaming business.
         The transaction will be accounted for as a reverse  acquisition whereby
         USG&L will be the acquiring company for accounting purposes.


                                       6

<PAGE>

               On June 7, 1999,  there was a change in the Board of Directors of
         the Company.  The new board changed the Company's business strategy and
         decided  to enter  into the  casino  business.  On June 24,  1999,  the
         Articles of  Incorporation  of the Company  were  amended to change the
         name of the Company to sureBET Casinos, Inc.


               Under the direction of its new management, the Company intends to
         develop,   acquire,   joint   venture,   manage,   and  operate  gaming
         establishments  with  an  initial  focus  on  water-based  gaming,  the
         emerging gaming markets,  and the  rehabilitation and reorganization of
         casinos that are underperforming financially.


               On  October  1,  1999,  the  Company  entered  into a  Management
         Contract with Casino Padre  Investment  Company,  LLC, a Nevada limited
         liability company.  Under the terms of the contract, the Company has an
         exclusive  agreement to operate the gaming ship M/V Entertainer and the
         gaming operations  located on the ship on behalf of and for the account
         of Casino  Padre  Investment  Company,  LLC. On October 27,  1999,  the
         Company acquired 50 membership units in Casino Padre Investment Company
         LLC in  exchange  for  5,000,000  shares  of the  common  stock  of the
         Company.  Immediately following the transaction,  the Company owned 83%
         of Casino Padre  Investment  Company LLC. The shares were acquired from
         Charles S. Liberis, the President of the Company. The LLC was formed on
         September 14, 1999 and at the time of the  acquisition,  was still in a
         developmental  stage. Casino Padre commenced operations on November 18,
         1999. As of June 30, 2000, the Company owns 61% of the LLC.


               On December 20, 1999, the Company  entered into an agreement with
         Black Hawk Hotel  Corporation,  an unaffiliated  entity, to lease Lilly
         Belle's  Casino,  an existing  casino  facility  located in Black Hawk,
         Colorado. Pursuant to the terms of the lease, the Company has an option
         to  purchase  the  premises.  The lease is  contingent  on the  Company
         receiving  approval  for the  transaction  and  issuance of  regulatory
         licenses from the Colorado Gaming Commission.


               The  Company  operates  the M/V  Entertainer  as a  casino  boat,
         conducting day and evening cruises of approximately six hours each from
         South  Padre  Island,  Texas.  In addition  to casino  operations,  the
         cruises   feature  a  variety   of   shipboard   activities   including
         sightseeing,  live music, and other entertainment.  The Company markets
         its cruises and conducts its casino operations in international  waters
         in such a manner as to comply  with  applicable  Federal and State laws
         and regulations.

3.       GOING CONCERN

               The  Company's  financial  statements  have been  prepared on the
         basis that it is a going concern, which contemplates the realization of
         assets and the  satisfaction  of  liabilities  in the normal  course of
         business.  The financial statements do not include any adjustments that
         might  result from the outcome of this  uncertainty.  At June 30, 2000,
         the Company had a working capital deficiency of $1,146,458. The Company
         has reported  cumulative net losses since inception of $6,253,435.  The
         Company  does  not  believe  that it will  be able to meet  its  normal
         operating  costs and  expenses  from  management  fees and cash flow of
         Casino Padre.

                                       7

<PAGE>

               The cash  requirements  of funding the Company's  operations  and
         expansion have exceeded cash flow from operations. To date, the Company
         has  satisfied  its capital  needs  primarily  through  debt and equity
         financing.  The Company continually explores raising additional capital
         through such means.


               The  Company  believes  that it will be able to raise  additional
         capital through debt and equity financing which, along with anticipated
         cash from operations,  will be sufficient to meet the Company's current
         working  capital  needs for at least the next twelve  months.  However,
         there  can be no  assurance  that  the  Company  will not need to raise
         additional  capital  sooner,  particularly  to  take  advantage  of any
         expansion  opportunities,  not  currently  anticipated  that may become
         available.  In such event,  there can be no assurance  that  additional
         capital will be available at all, at an acceptable  cost, or on a basis
         that is timely to allow the Company to finance any such opportunities.




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

The following  Management's  Discussion and Analysis of Financial  Condition and
Results of Operations  contains forward-looking  statements  about our plans and
business. Actual events and results may differ materially from those anticipated
in these forward-looking  statements. The ability to achieve our projections and
business  objectives  is  dependent  on a variety of factors,  many of which are
outside  of our  control.  Some of the  most  significant  factors,  alone or in
combination  would be our failure to obtain  additional equity financing to fund
development activities and projected losses from operations and/or the inability
to grow the revenues and improve the financial  performance  of the Casino Padre
operation during the winter months. Accordingly, there can be no assurances that
we will achieve our business objectives.

RESULTS OF OPERATIONS

THREE MONTHS ENDED JUNE 30, 2000 COMPARED TO THREE MONTHS ENDED JUNE 30, 1999

The sole  source of revenue for the  Company  through  June 30, 2000 was derived
from the operation of Casino Padre. During the three months ending June 30, 1999
the Company had no  financial  activity.  Our revenue for the three months ended
June 30, 2000 was $751,796,  as compared to $447,968 for the twelve months ended
March 31, 2000. The 68% increase in revenue at Casino Padre was directly related
to improved weather conditions and more tourists visiting the island

Costs of sales for the three months ended June 30, 2000 were $123,376.  Selling,
general and  administrative  expenses  were  $161,750.  A total of $270,060  was
expended for the  operation of the casino and $667,735 for the  operation of the
vessel.  Sales and marketing expenses for the period were $88,743 with ($30,000)
being allocated to the minority interest in Casino Padre.

The above resulted in a net loss of $529,868 for the three months ended June 30,
2000.



                                      8

<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

Our cash  requirements  have been and will continue to be significant.  From our
inception to June 30, 2000, we have financed our  operations  primarily  through
the issuance of equity and debt securities, loans from stockholders, and revenue
from  Casino  Padre.  At June 30,  2000,  we had a working  capital  deficit  of
$1,146,458 and an accumulated deficit of $6,253,435.

Net cash used in operating  activities  for the three months ended June 30, 2000
was $43,729. Net cash was used primarily to fund the losses from operations.

Net cash  provided by investing  activities  for the three months ended June 30,
2000 was  $51,600,  primarily  from  the sale of  common  stock in  sureBET  and
minority  interest  in  Casino  Padre.  At June  30,  2000,  we did not have any
material commitments for capital expenditures.

Net cash provided by increases in accounts  payable  activities was $536,523 for
the three months ended June 30, 2000,  primarily  from increases in payables for
the  charter of the vessel.  The amount due to CSL  Development  increased  from
$267,589 at March 31, 2000 to $752,828 at June 30, 2000.

We expect our cash needs will continue to increase in future periods,  primarily
because we will incur  additional  expenses  related to the  development  of new
projects and continuing  operations.  Our company will need to raise substantial
additional funds to continue the development of new markets and products.


The cash  requirements  of funding the Company's  operations  and expansion have
exceeded  cash flow from  operations.  To date,  the Company has  satisfied  its
capital  needs  primarily  through  debt  and  equity  financing.   The  Company
continually explores raising additional capital through such means.


Under the present  circumstances,  our  ability to  continue as a going  concern
depends on our ability to obtain additional financing. The Company believes that
it will be able to raise  additional  capital through debt and equity  financing
which,  along with anticipated cash from operations,  will be sufficient to meet
the Company's current working capital needs for at least the next twelve months.
However,  there  can be no  assurance  that the  Company  will not need to raise
additional  capital  sooner,  particularly  to take  advantage of any  expansion
opportunities,  not currently  anticipated  that may become  available.  In such
event,  there can be no assurance that  additional  capital will be available at
all, at an acceptable cost, or on a basis that is timely to allow the Company to
finance any such opportunities.


                                       9

<PAGE>


                           PART II - OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS

           Not Applicable.

ITEM 2.    CHANGES IN SECURITIES AND USE OF PROCEEDS

           During the quarter ended June 30, 2000,  the Company  issued and sold
           unregistered securities as described below:

           On May 19, 2000,  the Company  sold 15,360  shares of Common stock to
           Mr. David Brannen, an accredited investor for $9,600.00

           On May 25, 2000,  the Company  sold 19,200  shares of Common stock to
           Mr. Gary Williky, an accredited investor for $12,000.00

           The sale and issuance of securities  and the  transactions  described
           above were deemed to be exempt of  registration  under the Securities
           Act by virtue of Section  4(2).  Appropriate  legends were affixed to
           stock certificates issued in the above transactions. Some restrictive
           legends were imposed in connection with any subsequent sales of these
           securities.  The  securities  were  offered  and sold by the  Company
           without any  underwriters.  All of the  purchasers  were deemed to be
           sophisticated  with respect to the  investment  and securities of the
           Company by virtue of their financial condition and/or relationship to
           members of the management of the Company.

ITEM 3.    DEFAULTS UPON SENIOR SECURITIES

           Not Applicable.

ITEM 4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

           Not Applicable.

ITEM 5.    OTHER INFORMATION

           Not Applicable.

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K

         The following exhibits are included with this registration statement:

    EXHIBIT
    NUMBER    DOCUMENT

      2.1     Agreement to Exchange Common Stock with U.S. Gaming & Leisure
              Corp.(1)

                                       10

<PAGE>

    EXHIBIT
    NUMBER    DOCUMENT

      3.1     Articles of Incorporation, as amended(1)

      3.2     Bylaws, as amended(1)

     10.1     Asset Purchase Agreement with Imperial Petroleum, Inc.(1)

     10.2     Management Contract with Casino Padre Investment Company, LLC(1)

     10.3     Lilly Belle lease(1)

     10.4     South Padre Island Sublease and Dockage Agreement(1)

      21      Subsidiaries of the Registrant(1)

      27      Financial Data Schedule

--------------
    (1)  Previously filed as an exhibit to the Company's Registration Statement
         on Form 10-SB dated April 10, 2000 and incorporated by reference
         herein.



                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                             SUREBET CASINOS, INC.
                                             (Registrant)


Date:    August 30, 2000                     By:    /S/ CHARLES S. LIBERIS
                                                --------------------------------
                                                Charles S. Liberis
                                                Chairman of the Board, Chief
                                                Executive Officer and President



Date:  August 30, 2000                       By:    /S/ WAYNE E. MARKS
                                                --------------------------------
                                                Chief Financial Officer


                                       11

<PAGE>