UNITED STATES
                        SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                     FORM 10-Q

[Mark one]
[ X ]          QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                  EXCHANGE ACT OF 1934

                  For the quarterly period ended March 31, 2004

                                      OR

[   ]          TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to ________________

Commission File Number:  0-21071

                     NEVSTAR GAMING AND ENTERTAINMENT CORPORATION
               (Exact name of registrant as specified in its charter)

       Nevada                                88-0309578
(State or other jurisdiction        (IRS Employer Identification No.)
of incorporation or organization)

            1900 Avenue of the Stars, Suite 2410 Los Angeles CA 90067
                (Address of principal executive offices) (Zip Code)

                                (310) 553-7176
               (Registrant's telephone number, including area code)

                                 Not Applicable
                (Former name, former address and former fiscal year,
                          if changed since last report)

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 Exchange Act of
1934 during the preceding 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

Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of May 10, 2004.

Common Stock $.01 par value                           50,715,008
        (Class)                                    (Number of shares)

<PAGE> 2
                        NEVSTAR GAMING AND ENTERTAINMENT CORPORATION
                                       CONTENTS
<TABLE>
<CAPTION>
                                                                      Page
                                                                     Number

         <c>                                                         <c>
PART I        FINANCIAL INFORMATION:

   Item 1.    Financial Statements:

              Balance Sheets at March 31, 2004 and
                 June 30, 2003                                             3

              Statements of Operations for the three months and
              nine months ended March 31, 2004 and for the
              three months ended March 31, 2003 and for the
              period from November 22, 2002 (Inception of the
              Development Stage) through March 31, 2003 and
              the period November 22, 2002 through March 31, 2004          4

              Statements of Cash Flows for the nine months
              ended March 31, 2004, for the period from
              November 22, 2002 (Inception of the Development
              Stage) through March 31, 2003 and for the
              the period November 22, 2002 through March 31, 2004          5

              Notes to Unaudited Financial Statements                      6

   Item 2.    Management's Discussion and Analysis of Financial
                Condition and Results of Operations                        9

   Item 3.    Quantitative and Qualitative Disclosures About
              Market Risk

   Item 4.    Controls and Procedures

PART II.      OTHER INFORMATION                                           10

Item 1.    Litigation                                                     11

Item 3.    Defaults on Senior Securities                                  11

Item 4.    Exhibits and Reports on Form 8-K                               11

Signature Page                                                            11

Exhibit 31     Certification Pursuant to Section 302 of the
               Sarbanes-Oxley Act of 2002


Exhibit 32     Certification Pursuant to Section 906 of the
               Sarbanes-Oxley Act of 2002

</TABLE>
<PAGE> 3

          NEVSTAR GAMING AND ENTERTAINMENT CORPORATION
                         BALANCE SHEETS

<TABLE>
<CAPTION>
                                                      MARCH 31,    JUNE 30,
                                                        2004         2003
                                                    (Unaudited)    (audited)
                             ASSETS


                                                  <c>         <c>

      Current Assets                                  $  -          $  -
                                                        ------       ------

                 Total Assets                         $  -          $  -
                                                        ======       ======

                LIABILITIES AND SHAREHOLDERS' EQUITY


     Current Liabilities

        Accounts payable and accrued liabilities      $ 52,548      $ 57,996
        Accrued interest                                28,685        15,767
	  Current portion of long-term debt - Note 3      32,000           -
                                                        ------        ------

             Total Current Liabilities               $ 113,233      $ 73,763

     Long Term Liabilities

        Pre-petition tax liabilities - Note 3         $161,858      $194,858
        Long-term credit facility, related
         party - Note 4                                318,680       261,915
                                                       -------       -------
             Total Liabilities                        $593,771      $530,536

     Shareholders' Equity (Deficit)
	  Common Stock $.01 par value,
          126,396,450 shares authorized,
          50,715,008 issued and outstanding           $507,150      $507,150
        Accumulated deficit, prior to development
          state - Note 6                            (1,001,679)   (1,001,679)

            Accumulated deficit-development stage      (99,242)      (36,007)

                                                     ----------    ----------
          Total Shareholders' Deficit                $(593,771)    $(530,536)

            Total Liabilities and
              Shareholders' Deficit                  $     -       $    -
                                                       ========      ========


</TABLE>
                    See notes to financial statments.

<PAGE> 4

             NEVSTAR GAMING AND ENTERTAINMENT CORP
                     STATEMENTS OF OPERATIONS
                         (Unaudited)
<TABLE>
<CAPTION>
                    For the three       For the three         For the nine       For the period from    For the period from
                     months ended        months ended          months ended        November 22, 2002      November 22, 2002
                    March 31, 2004      March 31, 2003        March 31, 2004      (Inception of the       to March 31, 2004
                                                                                  development stage)
                                                                                   to March 31, 2003

                 <c>                 <c>                 <c>                    <c>                 <c>

Revenue               $ -                $ -                  $ -                  $ -                      $ -

                       --------           --------            --------              --------                ---------

Expenses
   General and
   administrative     $ 10,535           $ 14,629             $  42,316            $  28,443                $  82,556
                       --------          --------             ---------             ---------                ---------
Operating loss        $(10,535)          $ 14,629             $ (42,316)           $ (28,443)               $ (82,556)

   Other income          --                  --                    --                   --                     20,000
   Interest expense      7,180              7,000                20,919                7,000                   36,686
                      --------           --------              --------             ---------                ---------

Net Loss              $(17,715)          $(21,629)             $(63,235)           $ (35,443)               $ (99,242)
                      =========          =========             =========           ==========                ==========


Basic and diluted
 loss per share         $0.00               $0.00                 $0.00                $0.00                    $0.00

Weighted average
  shares outstanding 50,715,008          50,715,008           50,715,008           50,715,008               50,715,008



</TABLE>


                    See notes to financial statements

<PAGE> 5


             NEVSTAR GAMING AND ENTERTAINMENT CORP
                    STATEMENTS OF CASH FLOWS
                          (Unaudited)
<TABLE>
<CAPTION>
                                            For the nine       For the period from      For the period from
                                            months ended        November 22, 2002         November 22, 2002
                                            March 31, 2004      (Inception of the         to March 31, 2004
                                                            of the development stage)
                                                                 to March 31, 2003


                                          <c>                  <c>                    <c>
OPERATING ACTIVITIES
   Net Loss                                     $  (63,235)          $  (35,443)           $  (99,242)
   Adjustments to reconcile net loss
    to net cash used in operating activities:
          Changes in assets and liabilities:
                   Accounts payable                 (5,448)               6,396               (25,498)
                   Accrued interest                 12,918                 --                  28,685
                   Pre-petition tax liabilities     (1,000)                                    (1,000)
                                                   --------             -------              ---------
Net cash used by by operating activities           (56,765)             (29,047)              (97,055)

FINANCING ACTIVITIES
    Cash provided by long-term debt                 56,765               29,047                97,055
                                                   -------               -------              --------
Net cash for the period                                  0                    0                     0

Net cash a beginning of period                           0                    0                     0
                                                 ---------               --------             --------
Net cash at end of period                        $       0            $       0             $       0
                                                 =========               ========             ========

</TABLE>
               See notes to financial statements
<PAGE> 6

                 NEVSTAR GAMING AND ENTERTAINMENT CORPORATION
                     NOTES TO UNAUDITED FINANCIAL STATEMENTS
                              March 31, 2004

Note 1 - Bankruptcy Proceedings

     On July 10, 2000, the Company, a Nevada Corporation
filed a voluntary petition for relief under Chapter 11 (the "Chapter 11
Proceeding")in the Bankruptcy Court, Case No. BK-S-00-15075-LBR.  During
the Chapter 11 Proceeding, the Company acted as debtor in possession.

     In April, 2001, the Company and W/F Investment Corp. ("W/F")
submitted to the Bankruptcy Court a plan of reorganization, which
was amended from time to time (the "Plan of Reorganization").

     On February 20, 2002, the Bankruptcy Court issued an order
confirming the Plan of Reorganization.

     On November 22, 2002 the plan of reorganization became effective.
The Company issued 15,141,674 shares of common stock to holders of
unsecured claims; 156,428 shares of common stock to certain
administrative claimants and to a previously secured claim, and
27,807,219 shares of common stock to the Plan Proponents. The
7,583,687 shares of Common Stock that were previously outstanding were
retained by the holders of those shares.  There are a total of
50,715,008 shares of common Stock outstanding after the issuance of
shares under the Plan of Reorganization.

     The Company is in the process of completing the administrative
procedures, which include the acquisition of an operating entity, to
allow it to formally emerge from the oversight of the Bankruptcy Court.

     The Company does not currently have any operations.

Note 2 - Going Concern and Summary of Significant Accounting Policies

     Going Concern

     The accompanying financial statements have been prepared on a going
concern basis, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business.  The
Company does not generate any revenue, and has a net capital deficiency.
These factors among others may indicate that the Company will be unable
to continue as a going concern for a reasonable period of time.  The
Company currently funds its disbursements by a line of credit from one of
its Plan Proponents.  There are insufficient funds available under that
line of credit to meet the Company's current obligations.

     These financial statements do not include any adjustments relating
to the recoverability of assets and classification of liabilities that
might be necessary should the Company be unable to continue as a going
concern.

     The Company is no longer operating, and will attempt to locate a
new business (operating company) and offer itself as a merger vehicle
for a company that may desire to go public through a merger rather
than through its own public stock offering.

     The accompanying interim unaudited financial statements have been
prepared in accordance with accounting principles generally accepted in
the United States for interim financial information and pursuant to the
rules and regulations of the Securities and Exchange Commission.  In the
opionion of management, all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included.
Operating results for the three-month and nine-month periods ended
March 31, 2004 are not necessarily indicative of the results that may be
expected for the year ending June 30, 2004.  For further information, refer
to the financial statements for the year ended June 30, 2003 and the notes
thereto included in the Company's Annual Report on Form 10-K.

<PAGE> 7


                    NEVSTAR GAMING AND ENTERTAINMENT CORPORATION
                             NOTES TO FINANCIAL STATEMENTS
                                   March 31, 2004


Note 2 - Going Concern and Summary of Significant Accounting Policies
         (Continued)

     Accounting for Reorganization

     The Company applied Financial Accounting Standards No. 15 ("Accounting
for Debtors and Creditors for Troubled Debt Restructuring") for its
emergence from Bankruptcy.  The Company also adopted the Fresh Start
Reporting (see Note 6).

     Use of estimates

     The preparation of financial statements in accordance with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the amounts
reported in the accompanying financial statements. Management uses its
knowledge and expertise in making these estimates.  Actual results could
differ from those estimates.

      Income Taxes

     The Company utilizes the liablity method to account for income taxes.
Under this method, deferred taxes and liabilities are determined based on
differences between financial reporting and tax bases of assets and
liabilities and are measured using the enacted rates and laws expected to
apply when the differences are expected to reverse.

Note 3 - Pre-petition Tax Liabilities

    Pre-petition tax liabilities consist of $193,858 payable to the Nevada
Department of Taxation and the Nevada Gaming Authority.  Pursuant to the
Bankruptcy Code and stipulations entered into between the parties and the
Company, the amounts will be paid in full, plus interest at 5% in quarterly
payments commencing January, 2004 and ending September, 2009.  Payments due
on these liabilities during the next five years are as follows:

<TABLE>
<CAPTION>
               Twelve months ending March 31,
               ---------------------------

                                           <c>
               2005                              $  32,000
               2006                              $  32,000
               2007                              $  32,000
               2008                              $  32,000
               2009                              $  32,000



</TABLE>

Note 4 - Long Term Credit Facility, Related Party

     The credit facility consists of a $250,000 revolving line of credit,
which is fully drawn, and an approved overdraft on that line of $68,680,
issued to the Company by W/F Investment Corp, a shareholder of the Company
and a proponent of the bankruptcy Plan of Reorganization.  The line of
credit has been used to pay the Company's obligations through November 22,
2002, the Effective Date of the Plan of Reorganization, including the
allowed administrative expenses, accounting, legal and related expenses.
The line of credit bears interest at prime plus 2%, payable monthly.  It
is due October 31, 2007.  Accrued interest on the credit facility as of
March 31, 2004 totalled $23,329.

 <PAGE> 8

Note 5 - Income Taxes

     The Company has been unable to file federal income returns for the
periods during which it operated the Mesquite Star Hotel and Casino due
to its inability to gather sufficient financial information to prepare
accurate returns.  The  Internal Revenue Service has communicated that it
does not have the authority to waive the filing of these returns, however,
it will not take further action against the Company.  The result of this
failure to file will be that the  Company will not be able to estabish
net operating loss carryforwards that could be used to offset future income
tax liabilities.  The Company had previously recorded a valuation allowance
equal to the amount of the anticipated net operating loss carryforward,
therefore there is no impact on the reported financial condition of the
Company.

Note 6 - Fresh Start Reporting

     In accordance with its Plan of Reorganization, the Company converted
unsecured liabilities amounting to approximately $18,300,000 to 15,167,674
shares of its common stock.  The Company also issued 156,428 shares of its
common stock in payment of administrative claims totaling approximately
$20,000, and 27,807,219 shares of its common stock to its Plan Proponents.
The shares issued were valued at $0.01 per share, generating a gain on debt
forgiveness of approximately $18,000,000.  The amount of accumulated deficit
prior to the reclassification in accordance with Fresh Start Reporting
amounted to approximately $19,000,000.  Management estimated the fair value
of the shares issued at par value, based on the fact that no cash flows are
expected in the foreseeable future.  The balance of accumulated deficit after
the adjustment required by the Fresh Start Reporting represents the
"Excess Reorganization Value", which was impaired due to the fact that no
cash flows are expected in the foreseeable future.

Note 7 - Legal Proceedings

     The Company has an unliquidated claim against Randy Black Sr. ("Black"),
the former receiver of the Company appointed by the Bankruptcy Court during
the Chapter 11 Proceeding, and related entities. The Company alleges, inter
alia, that Black violated antitrust laws and his fiduciary responsibility to
the Company by using confidential information obtained in connection with
his duties as receiver to evaluate and consummate a transaction which lead
to the foreclosure by Black on the Company's former gaming property located
in Mesquite, Nevada. Black also owns four of the five casino properties
located in Mesquite.

<PAGE> 9

                NEVSTAR GAMING AND ENTERTAINMENT CORP
              Management's Discussion and Analysis of
          Financial Condition and Results of Operations
                           (Unaudited)

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
                        OF 1995

This Quarterly Report on Form 10-Q includes certain forward-looking statements
based upon management's beliefs, as well as assumptions made by and data
currently available to management.  This information has been, or in the
future, may be included in reliance on the "safe harbor" provision of the
Private Securities Litigation Reform Act of 1995.  These statements are
subject to a number of risks and uncertainties including, but not limited to,
the following: (a) the Company does not generate any revenue, and has a net
capital deficiency which may impair its ability to continue as a going
concern; (b)the ability of the Company to find a merger candidate or other
business opportunity to bring profitable business operations into the Company;
(c) the absence of  an active public trading market for the Company's common
stock; and (d) the Company does not have sufficient funds available on its
line of credit to meet its current obligations.

Actual results may differ materially from those anticipated in any such
forward-looking statements.  The Company undertakes no obligation to update or
revise any forward-looking statements to reflect subsequent events or
circumstances.

The Company's Bankruptcy Plan of Reorganization became effective November 22,
2002.  The Company is in the process of completing the steps outlined in the
Plan to obtain a final decree and formally emerge from the oversight of the
Bankruptcy Court.

The Company has no current operations, and is seeking to acquire a new
business (operating company), or offer iself as a merger vehicle for a
company that may desire to go public through merger rather than through
its own public stock offering.


<PAGE> 10
                NEVSTAR GAMING AND ENTERTAINMENT CORPORATION

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

The Company owns no financial instruments or other assets, nor has it entered
into any contracts or commitments, which would expose it to market risks such
as interest rate risk, foreign currency exchange rate risk or commodity
price risk as required to be disclosed pursuant to Regulation S-K, Item 305,
of the 1934 Securities Exchange Act, as amended.

Item 4.

Controls and Procedures

(a)  Evaluation of Disclosure Controls and Procedures

      Disclosure controls and procedures are designed to ensure that
      information required to be disclosed in the reports filed or
      submitted under the Exchange Act is recorded, processed, summarized
      and reported within the time periods specified in the SEC's rules
      and forms.  Disclosure controls and procedures include, without
      limitation, controls and procedures designed to ensure that information
      required to be disclosed in the reports filed under the Exchange Act is
      accumulated and communicated to management, to allow timely decisions
      regarding required disclosures.

      The Company carried out an evaluation under the supervision and with the
      participation of the Company's management, including the Company's
      Chief Executive Officer and Chief Financial Officer, of the
      effectiveness of the design and operation of the Company's disclosure
      controls and procedures. Based upon and as of the end of the period
      covered by this report, the Company's Chief Executive Officer and
      Chief Financial Officer concluded that the Company's disclosure controls
      and procedures are effective to ensure that the information required
      to be disclosed in the reports the Company files and submits under
      the Exchange Act is recorded, processed, summarized, and reported
      as and when required.

<PAGE> 11
                   NEVSTAR GAMING AND ENTERTAINMENT CORPORATION

(b) Changes in Internal Controls

      There were no changes in the Company's internal controls or in other
      factors that could have significantly affected those controls subsequent
      to the date of the Company's most recent evaluation.

PART II - OTHER INFORMATION

Item 1.   Litigation.

      The Company has an unliquidated claim against Randy Black Sr. ("Black"),
      the former receiver of the Company appointed by the Bankruptcy Court
      during the Chapter 11 Proceeding, and Virgin River Casino Corporation
      (see Note 7 to Financial Statements).

Item 3.   Defaults on Senior Securities

      As of March 31, 2004, the Company was $23,329 in arrears in its
      interest payments to W/F Investment Corp under the terms of the loans
      from W/F Investment Corp (see Note 4 to Financial Statements).

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

      The Company filed no reports on Form 8-K during the quarter ended
      March 31, 2004.

     	SIGNATURES

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.

NEVSTAR GAMING AND ENTERTAINMENT CORP

                                            /s/ William O. Fleischman
Date:   May 10, 2004                            William O. Fleischman
                                                Chief Executive Officer and
                                                Chief Financial Officer

Exhibit 31

Exhibit 32