<PAGE>1











































                           UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION

                       Washington, D.C. 20549

                          FORM 10-QSB

[X]   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
      OF THE SECURITIES AND EXCHANGE ACT OF 1934
      For the Quarter ended January 31, 1997

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

                 COmmission file number - 33-98184 

                    GAMING VENTURE CORP., U.S.A.
         Exact name of Registrant as specified in its charter)

          NEVADA	                                              22-3378922
(State or other jurisdiction of	                            (I.R.S. Employer
incorporation or organization	                           Identification Number)

177 Main Street, Suite 312, Fort Lee, NJ                          07024
(Address of principal executive offices)                        (Zip Code)

                            (201) 947-4642
            (Registrant's telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities and Exchange 
Act of 1934 during the preceding twelve months (or such shorter period that 
the Registrant was required to file such reports), and (2) has been subject to
file such filing requirements for the past thirty days.

Yes    x      No	
    ------       ------

Indicate the number of shares outstanding of each of the issuer's classes of 
common stock, as of the close of the period covered by this report:

                1,631,834 Shares of Common Stock ($.001 par value)
                               (Title of Class)


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






<PAGE>2

                        GAMING VENTURE CORP., U.S.A.



PART I:        Financial Information

                     ITEM 1 - Financial statements

                     ITEM 2 - Management's' discussion and analysis of     
                     financial condition and results of operations

PART II:      Other Information

                     ITEM 6 - Exhibits and Reports on Form 8-K




                                



































<PAGE>3
PART I

Item 1. Financial Statements:

<TABLE>
<CAPTION>
                         GAMING VENTURE CORP., U.S.A.
                          COMPARATIVE BALANCE SHEET
                                JANUARY 31
                                (UNAUDITED)
<S>                                                                 <C>                   <C>
                                                                   1997                   1996
Assets
Current Assets                                       
Cash and Cash Equivalents                                       $ 1,012,684             $  737,545
Accounts Receivable                                                  35,813                  2,736
Prepaid Advertising Expense                                           3,388                  1,490
Trading Securities                                                   38,875                 77,250
                                                                -----------             ----------
Total Current Assets                                              1,090,760             $  819,021

Fixed Assets 
Furniture & Equipment                                                18,369                  9,418
Less:   Accumulated Depreciation            	                         4,390                  1,264
                                                                 ----------             ----------

Fixed Assets - Net                                                   13,979                  8,154

Other Assets
Organization Costs   net of amortization                              2,073                  2,711
Other Investments                                                   330,000                 11,562
                                                                 ----------              ---------

Total Other Assets                                                  332,073                 14,273

Total Assets                                                     $1,436,812              $ 841,448
                                                                   ========               ========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts Payable                                     	             $  2,474               $  2,517
DUE TO AFFILIATES                                                         0                    515
Deferred Revenue                                              	     180,887                 34,431
                                                                 ----------               --------

Total Current Liabilities                                          $183,361               $ 37,463

Stockholders' Equity
Common Stock, $.001 par value, 50,000,000 shares     	                1,592                  
1,592
  authorized, 1,591,834 AND 1,631,834 shares issued 
& outstanding Paid in Capital                                     1,446,002              1,276,002
Accumulated Deficit                                                (194,143)              (473,609)
                                                                -----------              ---------

Total Stockholders' Equity                           	            1,253,451                809,965
                                                              -------------              ---------

Total Liabilities and Stockholders' Equity                    	  $1,436,812               
$841,448
                                                              	    ========               ========
</TABLE>

See the accompanying notes to the financial statements





























<PAGE>5

<TABLE>
<CAPTION>
                   GAMING VENTURE CORP., U.S.A.
               COMPARATIVE STATEMENT OF OPERATIONS
              FOR THE THREE MONTHS ENDED JANUARY 31,
                           (UNAUDITED)

                                                                     1997                 1996
<S>                                                                  <C>                     <C>

Revenue                                                             $134,922             $   44,657

Costs and expenses:    

General and administrative                                           63,827                  39,549
                                                                  ---------               ----------

Net Income from operations                                           71,095              $    5,108

Other income:
Interest Income                                                       9,883                  10,051
                                                                  ---------               ---------

Net income before taxes                                              80,978                  15,159

Provision for income taxes                                                0                       0
                                                                  ---------               ---------

Net income                                                          $80,978                 $15,159

Per share information:

Weighted average number of common
   shares outstanding                                             1,599,911               1,591,834
                                                                  ---------               ---------

Net income per share                                              $    0.05               $    0.01
                                                                  ---------               ---------  

See the accompanying notes to the financial statements
</TABLE>









<PAGE>6

<TABLE>
<CAPTION>
                               GAMING VENTURE CORP., U.S.A.
                                  STATEMENT OF CASH FLOWS
                          FOR THE THREE MONTHS ENDED JANUARY 31
                                         (UNAUDITED)

                                                                         1997                 1996
<S>                                                                     <C>                     <C>

Cash flows from operating activities:
Net Income                                                             $80,978  	           $15,159  
Dpreciation and Amortization                                             1,045                  630
Increase in Accounts Receivable                                         (3,514)               2,093
Increase in Prepaid Expenses                                              (998)              (1,490)
Decrease in Accounts Payable                                              (645)                 283
Other                                                                      (53)                   0 
Increase in Deferred Revenue                                           (63,812)              18,034 
                                                                  ------------            ---------
Net cash provided by (used in) operations                           $   13,001              $34,709

Cash flows from investing activities:         
Acquisition of equipment                                                     0                    0
Acquisition of Trading Securities                                            0              (45,378) 
Acquisition of Other Securities                                              0              (11,563)
                                                                    ----------           ----------
Net cash provided by (used in)
    investing activities                                            $        0              (56,941)

Cash flows from financing activities:
Decrease in Loan Receivable                                             18,000                    0
Increase in Additional Paid in Capital                                 170,000                    0 
                        			                                         ----------           ----------
      		                                                              $188,000               $    0

Net increase in cash                                                   200,328              (22,232)
Cash and Cash equivalents 
            November 1                                                 812,356              759,777
                                                                   -----------            ----------

Cash and Cash Equivalents
           January 31, 1997                                          1,012,684              $737,545
                                                                   -----------            ----------

Supplement cash flow information:

Cash paid to Income taxes                                            $      0               $      0
           Interest                                                  $      0               $      0
</TABLE>

See the accompanying notes to the financial statements.











<PAGE>7

                          GAMING VENTURE CORP., U.S.A.
                   NOTES TO UNAUDITED FINANCIAL STATEMENTS
                               JANUARY 31, 1997

Note.   BASIS OF PRESENTATION

The accompanying unaudited condensed financial statements have been 
prepared in accordance with generally accepted accounting principals for 
interim financial information and Article 10 of Regulation S-X.   They do 
not include all of the information and footnotes required by generally 
accepted accounting principles for complete financial statements.   In the 
opinion of management, all adjustments (consisting of normal recurring 
adjustments) considered  necessary for a fair presentation have been 
included.   The results of operations for the periods presented are not 
necessarily indicative of the results to be expected for the full year.   The 
accompanying financial statements should be read in conjunction with the 
Company's audited financial statements for the three months ended January 31, 
1997 included elsewhere in this Form 10-QSB.

Net income per share

The net income per share is computed by dividing the net income for the 
period by the weighted average number of common shares outstanding for 
the period.

Note 2.   STOCKHOLDERS' EQUITY

During October, 1995 the Company filed a registration statement with the 
Securities and Exchange Commission on Form S-1 which was declared 
effective on June 4, 1996 which registered 100,000 Class A Warrants, 
100,000 Class B Warrants and 1,196,834 shares of common stock 
(including the 200,000 common shares underlying the Class A and Class B 
Warrants).

Note 3.   MARKETABLE SECURITIES

The Company's securities that are bought and held principally for the 
purpose of selling them in the near term are classified as trading securities. 
  Trading securities are recorded at fair value as a current asset with the 
change in fair value during the period included in earnings.

At January 31, 1997, the Company held equity securities with a fair value of 
$ 38,875 and a cost of $ 60,252. The unrealized holding loss for the 
period is shown as a separate component of stockholders equity. The Company 
had sales proceeds of $0 from trading securities during the period ended 
January 31, 1997.


Note 4.   INCOME TAXES

The Company provides for income taxes pursuant to Financial Accounting 
Standards Board Statement No. 109 "Accounting for Income Taxes".   No 
provision for income taxes has been provided for during the period ended 
July 31, 1996 because of the operating loss for the period.  The Company 
may use this operating loss through 2010 to offset future income.   The 
Company is unable to predict future taxable income that would enable it to 
utilize any deferred tax asset and therefore the deferred tax asset of 
approximately $160,000 has been fully reserved.

Note 5.   CONCENTRATION OF CREDIT RISK

The Company currently has $729,275.75 on deposit in a money market fund at 
a single broker.  The amount of SIPC insurance on this fund is limited to 
$100,000.


 


<PAGE>9

                         GAMING VENTURE CORP., U.S.A.

PART I (cont.)


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

Trends  and  Uncertainties.       Inasmuch as a major portion of the Company's
activities  is  the  development  and  operation of a daily 900 number hotline
information  service,  a  daily  and  a weekly newsletter regarding the gaming
industry  and providing consulting services, the Company's business operations
may  be  adversely affected by competitors and prolonged recessionary periods.

In  addition,  the  future  exercise  of  any  of  the outstanding Warrants is
uncertain  based  on the current financial condition of the Company.  The lack
of  future exercise of the Class A or Class B Warrants would negatively impact
the  Company's  ability  to  successfully  expand  operations.

During  the  year  ended  October  31, 1996 consulting fees were received from 
Hilton  Hotels  Corporation ($4,625)  Europa  Cruises  ($31,190),  Champps 
Entertainment  ($4,000),  Game  Financial Corp. ($12,000), Royal Casino 
Group,Inc. ($37,000), Vodavi Technology ($16,000), American Wagering, Inc. 
($11,145) and New Horizon  Kids Quest ($4,400).    Comparatively, during the 
period from November 1, 1995 to January 31, 1996 consulting fees were received 
from Europa Cruises, Champps Entertainment and Game Financial Corp. amounted 
to $7,660, $3,000 and $4,000 respectively.   There can be no certainty that 
this limited number of  onsulting service customers will continue to utilize 
the Company's  services or that the Company can replace or add to these 
consulting customers.

During the three months ended January 31, 1997 consulting fees were received 
from Europa Cruises ($7,500), Game Financial Corp. ($3,000), Royal Casino Group,
Inc. ($7,500), New Horizon Kids Quest, Inc.($6,600), Vodavia Technology, Inc. 
($6,000) American Wagering, Inc. ($6,600).   There can be no certainty that this
limited number of consulting service customers will continue to utilize the 
Company's services or that the Company can replace or add to these consulting
customers. 

Capital  and  Source  of  Liquidity.    The Company signed a lease to rent 700
square feet of office space through December 31, 2000.   The Company exercised
its  option  to rent an additional six hundred square feet of space commencing
November  1,  1995.     Total lease payments per month increased from $700 per
month  to  $1,500.     This may have a negative impact on the cash flow of the
Company.      The landlord is Lucky Management Corp. Other than the lease, the
Company  has  no  material  commitments  for  capital  expenditures.

For  the  year  ended  October 31, 1996, the Company had an increase of a note
receivable  of  $18,000.   The Company advanced an unrelated entity $18,000 in
exchange  for  a  profit  sharing  arrangement with two of the entity's retail
locations in New York City.   The financing was provided interest free for the
months  of  November  and  December,  1996  in return for the following profit
participation:      On  the first $10,000 of net pre-tax cash flows from these
locations,  the  Company  will  receive  $10,000.   On the next $10,000 of net
pre-tax  cash flows, the Company will receive $5,000.   On the next $10,000 of
net  pre-tax  cash  flows,  the  Company  will receive $4,000.   On the fourth
$10,000  of net pre-tax cash flows, the Company will receive $3,000 and on any
net  pre-tax  cash  flows  above  $40,000, the Company will receive 20% of the
excess.      In  the  event  that  the  profit participation arrangement is in
sufficient  to  repay  the  $18,000  investment,  it  will convert into a loan
arrangement  as follows:   If the Company has received at least $20,000 of net
pre-tax  cash  flows,  no  additional payment will be due.   In the event that
less  than  $20,000  has  been  received, the Company will permit the borrower
until  February  28, 1997 to repay the difference between $15,000 and whatever
payment has been made to the Company from net pre-tax cash.   Should repayment
in full not be made by February 28, 1997, the unpaid balance will convert to a
one  year  term  loan  with  interest  at  8.25%.


For  the  year  ended October 31, 1996, the Company received proceeds from the
sale  of  marketable  securities  of $54,129 and acquired securities valued at
$56,941.    The Company also acquired property and equipment of $8,278.   As a
result,  the  Company had net cash used in investing activities of $29,090 for
the  year  ended  October  31,  1996.

For the three month period ended January 31, 1997, the Company had cash flow 
from investing activities of $0.

For the period from November 1, 1995 to January 31, 1996, the Company had no 
cash flow from investing activities.

For the year ended October 31, 1996, the Company pursued no financing 
activities.

For the three month period ended January 31, 1997, the Company had a
decrease in loan receivable of $18,000 and received additional paid in capital
of $170,000 resulting in cash flows from financing activities of $188,000

For the period  from November 1, 1995 to January 31, 1996 the Company had no 
cash flow from financing activities.


Results of Operations. The  Company  had  net operating income of $170,152 for 
the year ended October 31,  1996.        General  and  administrative  expenses 
for  the  year ended October 31, 1996 were $186,375 and consisted principally of
officer's salaries of  $92,750,  rent  of $18,312, telephone of $13,556 and 
miscellaneous general and  administrative  expenses  of  $61,757.   The Company 
had an increase in accounts  receivable  of  $27,470  due  to  increased  
operations.    Deferred revenue  increased  $228,302 from the sale of its 
newsletter subscriptions and prepaid  consulting  revenue. The Company acquired 
common stock and options as 
non-cash consideration valued at $330,000 as partial payment of its consulting
services.   The Company realized gain on the sale of securities of $27,440 and
had  amortization  and  depreciation  of  $638  and  $2,711 for the year ended
October  31, 1996.   The Company had an increase in prepaid expenses of $2,390
due  to  increased operations and had a slight increase in accounts payable of
$422.      Net cash provided by operations for the year ended October 31, 1996
was  $81,669.

The Company had net income of $80,978 for the three months ended January 
31, 1997.    General and administrative expenses for the three months ended 
January 31, 1997 were $63,827 and consisted principally of officer's salaries 
of $29,250, rent of $4,672, telephone of $5,930, printing press releases and 
advertising of $4,501, professional fees of $3,375 and miscellaneous general 
and administrative expenses of $16,099.   The Company had an increase in 
accounts receivable of $3,514 due to increased operations.   Deferred revenue 
decreased $63,812.   Net cash provided by operations for the three months ended 
January 31, 1997 was $13,001.

The Company had net income of $14,530 for the period from November 1, 1995 to 
January 31, 1996.    General and administrative expenses for the period from 
November 1, 1995 to January 31, 1996 were $39,549 and consisted principally of 
officer's salaries of $22,100, rent of $4,649 and miscellaneous general and 
administrative expenses of $12,800.  The Company acquired trading securities 
for $45,378 to attempt to achieve a greater return on its money than could be 
obtained in a bank account. Deferred revenue increased $18,034 from the sale 
of its newsletter subscriptions.   Additionally, the Company purchased 
furniture and office equipment valued at $9,418.   Net cash used in operations 
for the period from November 1, 1995 to January 31, 1996 was $22,232.

The Company is seeking to lower its operating expenses while expanding 
operations and increasing its customer base and operating revenues.  The 
Company is focusing on decreasing administrative costs.   However,
increased marketing expenses will probably occur in future periods as the 
Company attempts to further increase its marketing and sales efforts.



<PAGE>11

                            GAMING VENTURE CORP., U.S.A.

PART II


Item 6. Exhibits and Reports on Form 8-K  

	(a)	Exhibits (numbered in accordance with Item 601 of 
   		Regulation S-K)

   		None

	(b)	Reports on Form 8-K
		
	










                           SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.




Date: /s/ Alan Woinski
					-------------------------------------
					Alan Woinski, President