UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   Form 10-QSB

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

               For the quarterly period ended: June 30, 2001

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

                         Commission file number 0-21991

                        ADVANCED GAMING TECHNOLOGY, INC.
       (Exact name of small business issuer as specified in its charter)

            Wyoming                                              98-0152226
  (State or other jurisdiction                                  (IRS Employer
of incorporation or organization)                            Identification No.)

                      P  O  BOX  46855  LAS  VEGAS,  NEVADA  89114  (Address  of
                      principal executive offices)

                                 (702) 227-6668
                            Issuer's telephone number

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDING DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes [X] No [ ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practical date: June 30, 2000 25,000,000

Transitional Small Business Disclosure Format (check one). Yes [ ] No [X]


<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

     The unaudited condensed  consolidated financial statements presented herein
have been  prepared  by the  Company  in  accordance  with the  instructions  to
Form10-QSB  and do not  include  all of the  information  and  note  disclosures
required  by  generally   accepted   accounting   principles.   These  condensed
consolidated  financial  statements  should  be read  in  conjunction  with  the
consolidated  financial  statements and notes thereto  included in the Company's
Form 10-KSB for the year ended  December 31, 2000.  The  accompanying  financial
statements have not been examined by independent  accountants in accordance with
generally  accepted  auditing  standards,  but in the opinion of management such
financial  statements  include  all  adjustments   (consisting  only  of  normal
recurring  adjustments)  necessary  to present  fairly the  Company's  financial
position and results of operations.  The results of operations for the three and
six months ended June 30, 2000 may not be  indicative of the results that may be
expected for the year ending December 31, 2001.
























                                        2
<PAGE>

                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

                                                        June 30,    December 31,
ASSETS:                                                   2001          2000
---------                                             -----------   -----------
Current Assets
Cash and cash equivalents                             $    83,238   $   171,807
Accounts receivable                                         3,700          --
Prepaid expenses                                            1,000         1,000
Inventory                                                  20,000        20,000
                                                      -----------   -----------
Total current assets                                      107,938       192,807

Property and Equipment, net                               119,500       125,753

Other assets                                               45,178        78,178
                                                      -----------   -----------

Total assets                                          $   272,616   $   396,738
                                                      ===========   ===========


                                                       June 30,    December 31,
                                                          2001          2000
LIABILITIES AND STOCKHOLDER'S DEFICIT                 -----------   -----------
----------------------------------------
Current Liabilities
Accounts payable and accrued liabilities              $    88,779   $   330,798
Notes payable                                           1,200,497       900,276
                                                      -----------   -----------
Total current liabilities                               1,289,276     1,231,074

Long term obligations, net of current portion                --            --
                                                      -----------   -----------
Total liabilities                                       1,289,276     1,231,074
                                                      -----------   -----------
Stockholders' Deficit:
-----------------------
Preferred Stock-10% cumulative, $.10 par value;
  authorized 4,000,000 shares; issued - nil                  --            --
Common Stock - $.005 par value; authorized
  150,000,000 shares; issued and outstanding
  25,000,000 on June 30, 2001 and December 31, 2000       125,000       125,000
Additional paid-in capital                                   --            --
Accumulated deficit                                    (1,141,660)     (959,336)
                                                      -----------   -----------
Total stockholders' deficit                            (1,016,660)     (834,336)
                                                      -----------   -----------
Total liabilities and stockholders deficit            $   272,616   $   396,738
                                                      ===========   ===========

The  accompanying  notes  are an  integral  part of the  condensed  consolidated
financial statements.
                                        3
<PAGE>
                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)



                               For the Three Months        For the Six Months
                                   Ended June 30,            Ended June 30,
                                 2001         2000          2001         2000
                              ----------   ----------   ----------   ----------
Revenues                      $   27,721   $     --     $   81,422   $   15,163

Expenses
  Salaries and wages              56,250      56,250       112,500      112,500
  Depreciation                    15,000      16,000        30,000       32,000
  Administrative expenses         31,455      29,995        63,521       56,681
                              ----------   ----------   ----------   ----------
                                 102,705      102,245      206,021      201,181

Loss from operations              74,984      102,245      124,599      186,017

Other income (expense), net      (40,832)     (10,831)     (57,725)     (42,188)
                              ----------   ----------   ----------   ----------
Net Loss                      $  115,816      113,076   $  182,324  $   228,206
                              ==========   ==========   ==========   ==========

Net loss per common share     $     --     $     --    $     (.01)  $     (.01)
                              ==========   ==========   ==========   ==========

Weighted average common
 shares outstanding            25,000,000  25,000,000   25,000,000   25,000,000











     The accompanying  notes are an integral part of the condensed  consolidated
financial statements.

                                        4
<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                         For the Six Months
                                                            Ended June 30,
                                                          2001          2000
                                                      -----------   -----------

CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss                                              $  (182,324)  $  (228,206)
Adjustments to Reconcile Net Loss to Net Cash
Provided by (Used in) Operating Activities:
Depreciation and amortization                              30,000        32,000
Loss from earnings of affiliate                            33,000          --
Change in operating assets and liabilities:
Accounts receivable                                        (3,700)         --
Accounts payable and accrued liabilities                 (241,798)      (29,595)
Conversion of accounts payable to notes payable           300,000          --
                                                      -----------   -----------
Net cash used in operating activities                     (64,822)     (225,801)

Cash Flows From Investing Activities:
Other assets                                                 --       1,750,000
Purchase of property and equipment                        (23,747)          --
                                                      -----------   -----------
Net Cash (Used in) provided by Investing Activities       (23,747)    1,750,000

Cash Flows From Financing Activities:
Repayment of debt and notes                                   --     (1,638,271)
                                                      -----------   -----------
Net cash provided by financing activities                     --     (1,638,271)

Net change in cash and cash equivalents                   (88,569)     (114,072)
Cash and cash equivalents at beginning of period          171,807       440,561
                                                      -----------   -----------
Cash and cash equivalents at end of period            $    83,238   $   326,489

Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest              $    34,562   $    31,368





     The accompanying  notes are an integral part of the condensed  consolidated
financial statements.

                                        5
<PAGE>
                        Advanced Gaming Technology, Inc.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                 For the Six Months Ended June 30, 2001 AND 2000
                                   (Unaudited)


NOTE 1 - HISTORY AND ORGANIZATION

The  Company  was  incorporated  under the laws of the State of  Wyoming in 1963
under the name of MacTay Investment Co. The Company changed its name to Advanced
Gaming Technology,  Inc. in 1991. The Company's executive offices are located in
Las Vegas,  Nevada.  The Company is principally  engaged in the  development and
marketing of technology for the casino and hospitality industry.

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES

The summary of  accounting  policies for  Advanced  Gaming  Technology,  Inc. is
presented to assist in understanding  the Company's  financial  statements.  The
accounting policies conform to generally accepted accounting principles and have
been consistently applied in the preparation of the financial statements.

The  unaudited  financial  statements as of June 30, 2001 and for the six months
then ended reflect, in the opinion of management, all adjustments (which include
only normal  recurring  adjustments)  necessary  to fairly  state the  financial
position and results of operations for the three months.  Operating  results for
interim  periods are not  necessarily  indicative  of the  results  which can be
expected for full years.

A summary of the significant  accounting  policies applied in the preparation of
the accompanying financial statements is as follows:

(a)  Principles of Consolidation The consolidated  financial  statements include
     the  accounts of Advanced  Gaming  Technology,  Inc.  and its  wholly-owned
     subsidiaries.  All significant  intercompany accounts and transactions have
     been eliminated.

(b)  Inventory consists of bingo equipment parts and is carried at lower of cost
     (first-in, first-out method) and market value.

(c)  Property  and   Equipment   Property  and  equipment  is  stated  at  cost.
     Depreciation  is  provided  in  amounts  sufficient  to relate  the cost of
     depreciable  assets to  operations  over  their  estimated  service  lives,
     principally on a straight-line basis from 3 to 5 years.

     Upon sale or other  disposition  of property  and  equipment,  the cost and
     related  accumulated  depreciation  or  amortization  is  removed  from the
     accounts and any gain or loss is included in the determination of income or
     loss.

     Expenditures  for  maintenance  and  repairs  are  charged  to  expense  as
     incurred.  Major  overhauls and betterments are capitalized and depreciated
     over their useful lives.

                                        6

<PAGE>
                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the six Months Ended June 30, 2001 and 2000 (Unaudited)
                                   (Continued)

(d)  Revenue.  Revenue is generated on operating  leases and is recognized on an
     accrual  basis.  Certain  reclassifications  have  been  made  in the  2000
     financial statements to conform with the 2001 presentation

(e)  Cash and Cash Equivalents. For purposes of the Statement of Cash Flows, the
     Company  considers  all highly  liquid debt  instruments  purchased  with a
     maturity of three months or less, as cash equivalents.

(f)  Net Loss per  Common  Share.  The  reconciliations  of the  numerators  and
     denominators of the basic EPS computations are as follows:


                            2001                              2000
                     --------------------             --------------------
                           Number                            Number
                 Loss    Of Shares     Loss         Loss   Of Shares     Loss
             (Numerator)(Denominator)Per Share (Numerator)(Denominator)Per Share

    Basic EPS

    Loss to
    Common
    Shareholders$182,324  25,000,000  $ (.01)    $228,206   25,000,000   $(.01)
                ======== ============ ========  ========= ============= ========


     The effect of outstanding  common stock  equivalents are  anti-dilutive for
     2001 and 2000 and are thus not considered.

(g)  Persuasiveness  of Estimates.  The  preparation of financial  statements in
     conformity  with  generally   accepted   accounting   principles   requires
     management  to make  estimates  and  assumptions  that affect the  reported
     amounts of assets and liabilities  and disclosure of contingent  assets and
     liabilities  at the  date of the  financial  statements  and  the  reported
     amounts of  revenues  and  expenses  during the  reporting  period.  Actual
     results could differ from these estimates.

     Certain  reclassifications  have been made in the 2000 financial statements
     to conform with the 2001 presentation.


NOTE 3 - OTHER ASSETS

                                                        2001             2000
                                                  -------------      -----------
Investment in TravelSwitch     ...........             45,178           78,178
                                                  -------------      -----------
                                                  $    45,178        $  78,178
                                                  =============      ===========
                                        7
<PAGE>
                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
           For the Six Months Ended June 30, 2001 and 2000 (Unaudited)
                                   (Continued)


NOTE 4 - NOTES PAYABLE

 Notes payable consist of the following:
                                                            2001         2000
                                                         ----------   ----------
Note payable, interest at 7%, due in monthly Payments
of $6,200 beginning March 1, 2000, The note is due in
July of 2006 The note is convertible into common
stock at a rate of $.53 per share.  The note is in
default subsequent to 6/30/2001 and has been
reclassified as current...............................      900,497      900,276

Note payable, interest at prime plus 2%, payable on
Demand to an officer of the company, secured by all
Assets of the company                                       300,000         --
                                                         ----------   ----------
Notes payable      ...................................  $ 1,200,497   $  900,276
                                                         ==========   ==========

NOTE 5 - INCOME TAXES

As  of  December  31,  2000,  the  Company  had  a net  operating  loss  ("NOL")
carryforward  for income tax  reporting  purposes of  approximately  $25,000,000
available to offset future taxable income. This net operating loss carry-forward
expires at various dates between December 31, 2008 and 2015. A loss generated in
a particular year will expire for federal tax purposes if not utilized within 15
years.  Additionally,  the Internal Revenue Code contains  provisions that could
reduce  or limit the  availability  and  utilization  of these  NOLs if  certain
ownership  changes have taken place or will take place.  In accordance with SFAS
No. 109, a valuation  allowance is provided when it is more likely than not that
all or some portion of the  deferred tax asset will not be realized.  Due to the
uncertainty  with respect to the ultimate  realization  of the NOLs, the Company
established a valuation  allowance for the entire net deferred  income tax asset
of $12,000,000 as of March 31, 2001

NOTE 6 - GOING CONCERN

The  accompanying  financial  statements  have been prepared in conformity  with
generally accepted accounting principles, which contemplates continuation of the
Company as a going  concern.  However,  the  Company has  sustained  substantial
operating losses in recent years. In addition, the Company has used substantial
amounts of working  capital in its  operations.  Subsequent to June 30, 2001 the
company defaulted on its long term debt obligation.

In view of these  matters,  realization  of a major portion of the assets in the
accompanying balance sheet is dependent upon continued operations of the Company
which in turn is  dependent  upon the  Company's  ability to meet its  financing
requirements  and succeed in its future  operations.  Management  believes  that
actions  presently  being taken to revise the Company's  operating and financial
requirements  provide  the  opportunity  for the  Company to continue as a going
concern.
                                        8
<PAGE>
                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
           For the Six Months Ended June 30, 2001 and 2000 (Unaudited)
                                   (Continued)


NOTE 7 - PETITION FOR RELIEF UNDER CHAPTER 11

The company filed for reorganization under chapter 11 of the U S bankruptcy code
in Las Vegas on August 26, 1998.  Under Chapter 11,  certain  claims against the
Debtor in existence  prior to the filing of the  petitions  for relief under the
federal   bankruptcy  laws  are  stayed  while  the  Debtor  continues  business
operations as Debtor-in-possession. These claims were reflected in the March 31,
1999 balance sheet as "liabilities  subject to compromise."  The bankruptcy plan
was approved June 29, 1999 and became  effective on August 19, 1999. On February
15, 2000 the  bankruptcy  court in the district of Las Vegas  approved the final
decree of the company closing the chapter 11 bankruptcy case of the company.

Pursuant to the plan,  obligations to secured creditors were re-negotiated.  All
remaining  liabilities of the company were fully satisfied  through  issuance of
new common stock.  Unsecured  creditors received 1.88 shares of new common stock
for each $1 of allowed claim. The company issued 25 million shares of new common
stock in  conjunction  with the plan.  The existing  common stock was cancelled.
Existing  shareholders  of the company on the effective date received 1 share of
new  common  stock  for  each  66  shares  of  common  stock  currently   owned.
Approximately 21 million shares were issued to creditors,  existing shareholders
and new investors. A reserve of approximately 4 million shares is maintained for
additional allowed claims.

NOTE 8 FRESH START ACCOUNTING

The  Company  accounted  for the  reorganization  using  fresh-start  reporting.
Accordingly,   all  assets  and  liabilities  were  restated  to  reflect  their
reorganization   value,   which   approximates   fair   value  at  the  date  of
reorganization.











                                        9
<PAGE>


Item 2. Management's Discussion and Analysis

General -

This discussion should be read in conjunction with  Management's  Discussion and
Analysis of  Financial  Condition  and Results of  Operations  in the  Company's
annual report on Form 10-KSB for the year ended December 31, 2000. The Company's
shares of  capital  stock are  registered  under  Section  12 of the  Securities
Exchange Act of 1934. The Company became a reporting  issuer in March 1997. This
quarterly  report on Form 10-QSB and the  information  incorporated by reference
herein contain  forward-looking  statements within the meaning of Section 27A of
the  Securities  Act of 1933,  as amended,  and  Section  21E of the  Securities
Exchange Act of 1934, as amended.  Such statements include,  but are not limited
to,  projected sales,  gross margin and net income figures,  the availability of
capital resources, plans concerning products and market acceptance.

Forward-looking  statements are inherently  subject to risks and  uncertainties,
many of which cannot be predicted  with  accuracy and some of which may not even
be anticipated. Future events and actual results, financial and otherwise, could
differ materially from those set forth in or contemplated by the forward-looking
statements  herein  and any  forward  looking  statements  should be  considered
accordingly.

Results of Operations -

2001 Compared to 2000

The company  incurred a net loss for the quarter ended June 30, 2001 of $115,816
compared to a loss of $113,076 in the same quarter of 2000. The net loss for the
six months ended June 30, 2001 was  $182,324  compared to a loss of $228,206 for
the same period in 2000.

The  Company  completed  a Chapter  11  bankruptcy  reorganization  in the third
quarter of 1999. Since that time the company has focused efforts on placement of
the  existing  electronic  bingo  systems.  These  efforts  have  proven to be a
challenge as the  marketplace  is very  competitive  and most  distributors  are
aligned  with one or more of these  competitors.  To  further  complicate  these
efforts the Max Lite  handheld unit has not been well  received.  It is near the
end of its useful life cycle.  Placements  with certain  distributors  have been
unsuccessful  as customer  acceptance of the product is low.  Revenue from bingo
systems is expected to be limited during the remainder of 2001.

In  January  of  2000  the  Company   formed  the   Internet   travel   provider
TravelSwitch.com  . This  venture  accepts room  reservations  for the Las Vegas
market from the Internet address  www.777LasVegas.com.  The venture also handles
all forms of retail travel.  Advanced Gaming  Technology holds a 22% interest in
TravelSwitch.

Online commerce has experienced  difficulties during the past twelve months. The
online travel market is extremely  competitive.  Many of these competitiors have
far greater resources than TravelSwitch.  Due to the immediate cash needs of the
company,  AGT is considering all options  related to this  investment  including
sale of the entire interest.

                                       10

<PAGE>

The  Company  was named in a patent  infringement  action  during  June of 2001.
Although the company  believes the claims to be  unfounded,  the outcome of this
action  could  delay or prevent  the  introduction  of AGT's new bingo  product,
Firecracker Bingo.

All of the items  discussed  above indicate that revenue and cash for operations
will be minimal  during the second half of 2001.  The company will  consider all
options to generate cash for operations  including sale of some or all assets of
the company.


Expenses for the first six months of 2001 were $206,021  compared to $201,181 in
 .0the  prior  year.  A  portion  of this  expense  in 2001 and  2000  represents
management  salary that has been converted to a secured note payable at June 30,
2001.  Expenses  for the second  quarter were  $102,705  compared to $102,245 in
2000.

Other  income  (expense)  consisted  of an expense of $57,725  for the first six
months of 2001  compared  to an  expense  of  $42,188  in 2000.  $33,000 of this
expense in 2001 represents loss on earnings of affiliate.  Interest  expense was
$34,562 in 2001 compared to $52,573 in 2000.


Liquidity and Capital Resources -

Efforts to place  electronic  bingo  systems have not been  successful.  Minimal
revenue is expected during the second half of 2001. Additional operating capital
is necessary  to continue  operations.  There is no guarantee  that such capital
will be readily  available.  The company will consider all options including the
sale of certain assets in efforts to raise cash.

Debt in excess of $10 million at June 30, 1998 has been  reduced to one note for
$900,000  and one note  for  $300,000  at June  30,  2001.  The  larger  note is
convertible at the option of the holder at a rate of $.53 per share. The company
has  discontinued  payments on this note.  Efforts are  underway to  negotiate a
settlement of this obligation.  Settlement could include  conversion of all or a
portion of this note to stock at or below current market value.

The $300,000  note is payable on demand to an officer of the company.  This note
is secured by the assets of the company. This note could be settled in a similar
manner.

This debt  presents a barrier to company's  ability to generate  funding for new
projects.  The most  likely  solution  to  settlement  of these  obligations  is
conversion to equity through issuance of common shares. The issuance of stock to
settle  these   obligations  or  to  acquire  revenue   producing  assets  could
significantly  dilute the  positions  of current  shareholders.  The  company is
authorized to issue 150 million  common  shares.  There are currently 25 million
shares  issued and  outstanding.  A significant  portion of the unissued  shares
could be necessary to satisfy  these  obligations  or to acquire new  investment
capital or assets.



                                       11
<PAGE>

Inflation and Regulation -

The Company's operations have not been, and in the near term are not expected to
be, materially  affected by inflation or changing prices. The Company encounters
competition  from a variety of firms  offering  similar  products  in its market
area. Many of these firms have long standing customer relationships and are well
staffed and well financed. The Company believes that competition in the industry
is based on competitive pricing, although the ability,  reputation and technical
support of a concern is also significant.  The Company does not believe that any
recently enacted or presently pending proposed  legislation will have a material
adverse effect on its results of operations.




























                                       12
<PAGE>

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Changes in Securities

None.

Item 3. Defaults Upon Senior Securities

Subsequent to June 30, 2001 the company was in default on a promissory note as a
payment  scheduled  for July,  1, 2001 was not made.  The  company is  currently
attempting to negotiate a compromise to this obligation.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

Item 5. Other Information

None.

Item 6. Exhibits and Reports on Form 8-K

The company  filed one report on form 8K during the three  months ended June 30,
2001.

1. On April 30, 2001 An officer of the  company  announced a plan to sell shares
in the company in accordance with rule 10b-5.



















                                       13

<PAGE>

                                   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.


                        ADVANCED GAMING TECHNOLOGY, INC.
                                  (Registrant)





DATE: August 1, 2001                             By: /s/ DANIEL H. SCOTT
                                                 ------------------------------
                                                     Daniel H. Scott
                                                     President, Chief Operating
                                                     Officer and Director
                                                     (Principal executive and
                                                      accounting oficer)

















                                       14