U.S. 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, 1999

             [ ] 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) 227-6578
                           Issuer's telephone number

     (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 [X] No []

<PAGE>

               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 [ ] 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: August 10, 1998 110,330,600

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

                                        2
<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, 1998.  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, 1999 may not be  indicative of the results that may be
expected for the year ending December 31, 1999.






























                                        3
<PAGE>

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



                                                        June 30,    December 31,
ASSETS:                                                   1999          1998
-------                                               -----------   -----------
Current Assets
Cash and cash equivalents                             $    14,891   $   109,824
Accounts receivable, net                                  166,735         7,825
Prepaid expenses                                            5,285         5,285
Inventory                                                  20,000        20,000
                                                      -----------   -----------
Total current assets                                      206,911       142,934

Property and Equipment, net                               162,740       204,740

Intangible and other assets                             3,343,088     3,442,604
                                                      -----------   -----------

Total assets                                          $ 3,712,739   $ 3,790,278
                                                      ===========   ===========









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


                                        4
<PAGE>
                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


                                                        June 30,    December 31,
                                                          1999          1998
                                                      -----------   -----------
LIABILITIES AND STOCKHOLDERS' DEFICIT:
--------------------------------------
Liabilities subject to compromise
Accounts payable and accrued liabilities              $ 2,863,088   $ 2,766,588
Notes payable                                             313,000       313,000
Convertible notes                                         748,750       748,750
Current portion of long term debt                       3,918,371     3,918,371
                                                      -----------   -----------
Total liabilities  subject to compromise                7,843,209     7,746,709

Long term obligations, net of current portion                --            --
                                                      -----------   -----------
Total liabilities                                       7,843,209     7,746,709
                                                      -----------   -----------
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
143,594,531 in 1998 and 98,439,431 in 1997                576,653       576,653
Additional paid-in capital                             32,044,903    32,044,903
 Accumulated deficit                                  (36,752,026)  (36,577,987)
                                                      -----------   -----------
Total stockholders' deficit                            (4,130,470)   (3,956,431)
                                                      -----------   -----------
Total liabilities and stockholders deficit            $ 3,712,739   $ 3,790,278
                                                      ===========   ===========



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

                                        5
<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,
                                 1999         1998         1999         1998
                              ----------   ----------   ----------   ----------
Revenues                      $   87,501   $   60,265   $  175,002   $  245,055
Cost of revenues                    --         20,430         --        112,710
                              ----------   ----------   ----------   ----------
Gross margin                      87,501       39,835      175,002      132,345

Expenses                         150,653      612,279      252,542    1,672,397
                              ----------   ----------   ----------   ----------
Loss from operations              63,152      572,444       77,540    1,540,052

Other income (expense), net         --       (376,986)     (96,500)     496,332
                              ----------   ----------   ----------   ----------
Net Loss                      $   63,152   $  949,430   $  174,040   $1,043,720
                              ==========   ==========   ==========   ==========

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

Weighted average common
 shares outstanding          110,330,600  119,655,013  110,330,600  119,655,013







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



                                        6
<PAGE>

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

                                                         For the Six Months
                                                            Ended June 30,
                                                          1999          1998
                                                      -----------   -----------

CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss                                              $  (174,040)  $(1,043,720)
Adjustments to Reconcile Net Loss to Net Cash
Provided by (Used in) Operating Activities:
Depreciation and amortization                             141,517       413,250
Issuance of common stock for expenses                        --          93,500
Change in operating assets and liabilities:
Accounts receivable                                      (158,910)       13,657
Prepaid expenses                                             --          63,684
Deferred charges                                             --         192,217
Inventory                                                    --          53,551
Notes receivable                                             --           1,347
Accounts payable and accrued liabilities                   96,500      (776,864)
                                                      -----------   -----------
Net cash used in operating activities                     (94,933)     (989,378)

Cash Flows From Investing Activities:
Other assets                                                 --            --
Purchase of property and equipment                           --         298,144
                                                      -----------   -----------
Net Cash (Used in) provided by Investing Activities          --         298,144

Cash Flows From Financing Activities:
Proceeds from issuance of common stock                       --       2,648,595
Proceeds from debt and notes                                 --         290,511
Repayment of debt and notes                                  --      (2,250,000)
                                                      -----------   -----------
Net cash provided by financing activities                    --         689,106

Net change in cash and cash equivalents                   (94,933)       (2,128)
Cash and cash equivalents at beginning of period          109,824        17,276
                                                      -----------   -----------
Cash and cash equivalents at end of period            $    14,891   $    15,148

Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest                     --     $     2,000
Supplemental Disclosure of Non-Cash
Investing and Financing Activities:
Conversion of notes to common stock                          --     $ 1,625,000

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

                                        7
<PAGE>

                        Advanced Gaming Technology, Inc.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                 FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)


1.   Interim Reporting

     The accompanying unaudited condensed consolidated financial statements have
been prepared in accordance with generally  accepted  accounting  principles and
Form  10-QSB  requirements.   Accordingly,  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
considered  necessary  for a fair  presentation  have been  included.  Operating
results  for the  three and six  month  periods  ended  June 30,  1999,  are not
necessarily  indicative  of the results  that may be expected for the year ended
December 31, 1999. For further  information,  refer to the financial  statements
and footnotes thereto included in the Company's annual report on Form 10-KSB for
the year ended December 31, 1998.


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, 1998. 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.





                                        8
<PAGE>

                        Advanced Gaming Technology, Inc.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                 FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)

The company filed for  reorganization  under chapter 11 of the U. S.  Bankruptcy
Code on  August  26,  1998.  Since  that  time,  efforts  have been  focused  on
developing a new operating strategy and completing the reorganization process.

The company filed a plan of  reorganization  in December of 1998.  The company's
plan and  disclosure  statement  was approved by the  bankruptcy  court in March
1999. The plan of  reorganization  was confirmed by the bankruptcy court on June
29, 1999. The plan becomes effective on August 19, 1999.

On the  effective  date of the plan  the  company  will  undergo  a  substantial
restructuring of its balance sheet and financial  position.  Liabilities subject
to compromise will be reduced to $2.6 million.  The remainder of the liabilities
will be converted to equity,  paid or eliminated based on the treatment provided
in the court approved plan. The $2.6 million will consist of two long-term notes
payable  to  creditors  secured  by the  company's  real  estate  near  Branson,
Missouri.  Administrative and priority claims of approximately  $200,000 will be
paid on the effective date.

On or before the effective date the company will receive $1 million in cash from
capital  contributions  of new  investors  and  the  settlement  of  outstanding
litigation.  The current  common  stock of the company  will be  cancelled.  New
common stock  consisting of  approximately  21 million  shares will be issued to
creditors,  current  shareholders and new investors in accordance with the terms
of the court  approved plan.  The company  expects to have operating  capital of
approximately  $700,000 after payment of administrative  and priority claims and
operating expenses.

Results of Operations -

1999 Compared to 1998

The net loss for the six months ended June 30, 1999 was  $174,040  compared to a
net loss $1,043,720 for the same period in 1998.  This  improvement was due to a
substantial reduction of operating costs implemented in August of 1998. With the
bankruptcy  process complete the company will focus all efforts on executing the
new business plan. A priority will be to build new relationships  with potential
distributors of the electronic  bingo products.  This effort will be a challenge
as the marketplace is very competitive.

The company is generating minimal revenue from operations. Revenue for the three
months ended June 30, 1999 was $87,501 compared to $60,265 in 1998.

                                        9
<PAGE>

Leasing of the Max Lite hand-held  electronic  bingo unit has been hampered by a
lack of operating  capital  necessary to establish a network of  distributors to
market,  service and support the product.  The company is currently pursuing new
distribution arrangements.

The Max Plus  licensing  agreement was settled in July 1999.  Under the terms of
the settlement the company  received a one-time payment of $850,000 in July. The
company retains the right to market the Max Plus and Turbo Max systems.  The Max
Plus system will be marketed as a complement to the Max Lite system.  No further
royalty payments will be received under the settled license agreement.

Expenses for the first six months of 1999 were  $252,542  compared to $1,672,397
in the  prior  year.  Substantial  cost  reductions  have been  achieved  in all
operating  areas.  Salaries  and wages  expenses and related  payroll  taxes and
benefits decreased sharply. The cost reduction program was implemented in August
1998.  Expenses are expected to remain low until cash flow can be generated from
product  revenue to justify  expansion  of  operations.  Expenses for the second
quarter were $150,653 compared to $612,279 in 1998.

Other  income  (expense)  consisted  of an expense of $96,500  for the first six
months of 1999  compared to income of $496,332 in 1998.  In 1998 a $1.5  million
licensing payment was received related to the Max Plus licensing agreement. This
amount was offset by $1.1  million in expenses  related to interest  expense and
equipment write-downs.  Interest expense decreased in 1999 due to the conversion
of liabilities to equity during the past year.


Liquidity and Capital Resources -

The  Company  will  receive  operating  capital  in the  amount of $1 million in
conjunction  with the  reorganization.  A portion  of this new  capital  will be
utilized to pay court  approved  administrative  expenses and  priority  claims.
After these payments and payments for operating  expenses the company expects to
have a cash  balance in excess of $700,000.  The company is  confident  that the
working capital  generated in conjunction with the plan will allow management to
pursue  distribution  of the Max  Lite  and Max  Plus  products.  Due to  strong
competition  in the  market  there is no  guarantee  that such  efforts  will be
successful.

The company's  debt will be  restructured  pursuant to the plan.  Long-term debt
will consist of two notes totaling $2.6 million. The company is required to make
only  minimal  debt  service  payments  on these  notes for the first six months
following the effective date of the plan.


                                       10
<PAGE>

Liabilities  subject  to  compromise  will  be  converted  to  equity,  paid  or
restructured on the effective date pursuant to the plan. Each unsecured creditor
holding an allowed  claim will  receive 1.88 shares of new common stock for each
$1 of allowed claim.

The  existing  common stock of the company will be  cancelled.  Shareholders  of
record on the effective date will receive one share of new common stock for each
66 shares  currently owned. 25 million shares of new common stock will be issued
pursuant to the plan. The company estimates that approximately 21 million shares
will be outstanding on the effective date. The remaining  shares will be held in
a reserve for future allowed claims.

The company intends to pursue new projects as opportunities  arise. This is part
of an overall  strategic  plan to diversify  revenue.  Such projects may require
additional  working  capital.  There is no  guarantee  that such funding will be
available when the opportunities arise. The company will consider all methods of
financing as a means of funding these projects.

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.

















                                       11
<PAGE>

                          PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Changes in Securities

None.

Item 3. Defaults Upon Senior Securities

None.

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 a report on Form 8-K on July 6, 1999. The Company  reported an
event under "Item 5 Other  Events" to announce the  confirmation  of the plan of
reorganization by bankruptcy court.















                                       12
<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 19, 1999                        By: /s/ DANIEL H. SCOTT
                                                 ------------------------------
                                                     Daniel H. Scott
                                                     President, Chief Operating
                                                     Officer and Director
                                                     (Principal executive and
                                                      accounting oficer)