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| **EXHIBIT  21

Auditors' Report**
To the Board of Directors      International Thunderbird Gaming Corporation

We have audited the consolidated balance sheet of      International Thunderbird Gaming Corporation as at December 31, 2001 and      the consolidated statements of operations and deficit and cash flows for      each of the years in the two-year period ended December 31, 2001. These      financial statements are the responsibility of the Company's management.      Our responsibility is to express an opinion on these financial statements      based on our audits.

We conducted our audit in accordance with Canadian      generally accepted auditing standards and auditing standards generally      accepted in the United States of America. Those standards require that we      plan and perform an audit to obtain reasonable assurance whether the      financial statements are free of material misstatement. An audit includes      examining, on a test basis, evidence supporting the amounts and      disclosures in the financial statements. An audit also includes assessing      the accounting principles used and significant estimates made by      management, as well as evaluating the overall financial statement      presentation.

In our opinion, these consolidated financial statements      present fairly, in all material respects, the financial position of the      Company as at December 31, 2001 and the results of its operations and its      cash flows for each of the years in the two-year period ended December 31,      2001, in accordance with Canadian generally accepted accounting      principles.

Chartered Accountants

Vancouver, Canada

April 16, 2002

 
**Comments by Auditor For U.S. Readers On Canada - U.S.      Reporting Difference**
In the United States, reporting standards for auditors      require the addition of an explanatory paragraph (following the opinion      paragraph) when the financial statements are affected by conditions and      events that cast substantial doubt on the Company's ability to continue as      a going concern, such as those described in note 1 to the financial      statements. Our report to the board of directors dated April 16, 2002 is      expressed in accordance with Canadian reporting standards which do not      permit a reference to such events and conditions in the auditors' report      when these are adequately disclosed in the financial statements.

Chartered Accountants

Vancouver, Canada

April 16, 2002

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