U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE  SECURITIES  EXCHANGE
ACT OF 1934

FOR THE QUARTER ENDED SEPTEMBER 30, 2002

COMMISSION FILE NO.  0-21991

                        ADVANCED GAMING TECHNOLOGY, INC.
                  --------------------------------------------
                 (NAME OF SMALL BUSINESS ISSUER IN ITS CHARTER)

             WYOMING                                       98-0152226
-------------------------------                      ---------------------
(STATE OR OTHER JURISDICTION OF                      (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)                         IDENTIFICATION NO.)

24165 1H 10WEST, SUITE 217125
SAN ANTONIO, TX                                            67257
----------------------------------------                ----------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                (ZIP CODE)

ISSUER'S TELEPHONE NUMBER (210) 697-8550

SECURITIES REGISTERED UNDER SECTION 12(B) OF THE EXCHANGE ACT:

                                                NAME OF EACH EXCHANGE ON
      TITLE OF EACH CLASS                          WHICH REGISTERED

                NONE                                   NONE
-----------------------------                   -------------------------

                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] or [ ]

                      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: November 11, 2002 - 21,430,587

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







<PAGE>




                          INDEX TO FINANCIAL STATEMENTS



Consolidated Balance Sheets.................................................F-2

Consolidated Statements of Operations.......................................F-3

Consolidated Statements of Stockholders' Equity (Deficit)...................F-4

Consolidated Statements of Cash Flows.......................................F-5

Notes to Consolidated Financial Statements..................................F-6














                                       F-1

<PAGE>

<TABLE>

<CAPTION>

                        ADVANCED GAMING TECHNOLOGY, INC.
                           CONSOLIDATED BALANCE SHEETS




                                                                           Nine Months Ended         Year Ended
                                                                          September 30, 2002     December 31, 2001
                                                                         ---------------------  --------------------
                                                                              (unaudited)
<S>                                                                      <C>                    <C>

                                 ASSETS
CURRENT ASSETS
   Cash and equivalents                                                  $              15,524  $             45,709
   Investment in marketable equity securities                                           11,832                     0
   Prepaid expenses                                                                          0                 1,000
                                                                         ---------------------  --------------------

          Total current assets                                                          27,356                46,709
                                                                         ---------------------  --------------------

PROPERTY AND EQUIPMENT
   Furniture, fixtures and equipment, net                                                1,294                66,862
                                                                         ---------------------  --------------------

          Total property and equipment                                                   1,294                66,862
                                                                         ---------------------  --------------------

Total Assets                                                             $              28,650  $            113,571
                                                                         =====================  ====================

             LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
   Accounts payable and accrued liabilities                              $               8,033  $             10,000
   Notes payable                                                                     1,026,661             1,367,424
                                                                         ---------------------  --------------------
          Total current liabilities                                                  1,034,694             1,377,424
                                                                         ---------------------  --------------------
Total Liabilities                                                                    1,034,694             1,377,424

STOCKHOLDERS' EQUITY (DEFICIT)
   Preferred stock-10% cumulative, $0.10 par value, 4,000,000
      authorized; 0 issued and outstanding                                                   0                     0
   Common stock, $0.005 par value, 150,000,000 authorized;
      21,430,587 issued and outstanding                                                107,153               107,153
   Additional paid-in capital                                                                0                     0
   Accumulated deficit                                                              (1,113,197)           (1,371,006)
                                                                         ---------------------  --------------------
          Total stockholders' equity (deficit)                                      (1,006,044)           (1,263,853)
                                                                         ---------------------  --------------------

Total Liabilities and Stockholders' Equity (Deficit)                     $              28,650  $            113,571
                                                                         =====================  ====================
</TABLE>


     The accompanying notes are an integral part of the financial statements


                                       F-2

<PAGE>

<TABLE>

<CAPTION>

                        ADVANCED GAMING TECHNOLOGY, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)



                                                             Three Months Ended                Nine Months Ended
                                                               September 30,                     September 30,
                                                       ------------------------------   -------------------------------
                                                            2002            2001             2002             2001
                                                       ---------------  -------------   --------------   --------------
<S>                                                    <C>              <C>             <C>              <C>

REVENUES                                               $             0  $3,700          $0               $85,121

OPERATING EXPENSES
   Salaries                                                          0         56,250           98,125          168,750
   Depreciation                                                      0         15,000           66,862           45,000
   Other operating expenses                                      5,968         30,213           16,110           93,732
                                                       ---------------  -------------   --------------   --------------

          Total operating expenses                               5,968        101,463          181,097          307,482
                                                       ---------------  -------------   --------------   --------------

Operating income (loss)                                         (5,968)       (97,763)        (181,097)        (222,361)
                                                       ---------------  -------------   --------------   --------------

OTHER INCOME (EXPENSE)
   Interest expense                                            (21,171)       (50,914)         (76,120)        (103,124)
   Loss on disposal of fixed assets                                  0              0                0           (5,516)
   Gain from lawsuit settlement                                 17,500              0           17,500                0
   Gain on forgiveness of debt                                                      0          497,526                0
                                                       ---------------  -------------   --------------   --------------

          Total other income (expense)                          (3,671)       (50,914)         438,906         (108,640)
                                                       ---------------  -------------   --------------   --------------

Net income (loss)                                      $        (9,639) $    (148,677)  $      257,809   $     (331,001)
                                                       ===============  =============   ==============   ==============
Net income (loss) per common share, basic              $         (0.00) $       (0.01)  $        (0.01)  $        (0.01)
                                                       ===============  =============   ==============   ==============
Weighted average number of common shares
outstanding                                                 21,430,587     25,000,000       21,430,587       25,000,000
                                                       ===============  =============   ==============   ==============
</TABLE>


     The accompanying notes are an integral part of the financial statements


                                       F-3

<PAGE>

<TABLE>

<CAPTION>


                        ADVANCED GAMING TECHNOLOGY, INC.
            CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)




                                                                                                                 TOTAL
                                                    NUMBER                    ADDITIONAL                     STOCKHOLDERS'
                                                      OF           COMMON       PAID-IN        RETAINED          EQUITY
                                                    SHARES         STOCK        CAPITAL        EARNINGS        (DEFICIT)
                                                 -------------  ------------  -----------   --------------  ----------------
<S>                                              <C>            <C>           <C>           <C>             <C>

BEGINNING BALANCE,
December 31, 1999                                   25,000,000  $    125,000  $         0   $     (394,895) $       (269,895)
Net loss                                                     0             0            0         (564,441)         (564,441)
                                                 -------------  ------------  -----------   --------------  ----------------
BALANCE, December 31, 2000                          25,000,000       125,000            0         (959,336)         (834,336)

Cancellation of reserved shares                     (3,569,413)      (17,847)           0                0           (17,847)
Net loss                                                     0             0            0         (411,670)         (411,670)
                                                 -------------  ------------  -----------   --------------  ----------------
BALANCE, December 31, 2001                          21,430,587       107,153            0       (1,371,006)       (1,263,853)

Net income                                                   0             0            0          257,809           257,809
                                                 -------------  ------------  -----------   --------------  ----------------
ENDING BALANCE, September 30, 2002
(unaudited)                                         21,430,587  $    107,153  $         0   $   (1,113,197) $     (1,006,044)
                                                 =============  ============  ===========   ==============  ================
</TABLE>


     The accompanying notes are an integral part of the financial statements


                                       F-4

<PAGE>

<TABLE>

<CAPTION>

                                         ADVANCED GAMING TECHNOLOGY, INC.
                                       CONSOLIDATED STATEMENTS OF CASH FLOWS
                                          Nine Months Ended September 30,
                                                    (Unaudited)



                                                                                        2002                 2001
                                                                                 ------------------    ----------------
<S>                                                                              <C>                   <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)                                                                $          257,809    $(331,001)
Adjustments to reconcile net income to net cash provided by operating
activities:
   Depreciation and amortization                                                             66,862              45,000
   Loss on disposal of fixed assets                                                               0              (5,516)
   Gain on forgiveness of debt                                                             (497,526)                  0
Changes in operating assets and liabilities:
   (Increase) decrease in accounts receivable                                                     0                   0
   (Increase) decrease in prepaid expenses                                                        0                   0
   (Increase) decrease in other assets                                                            0              66,000
   Increase (decrease) in accounts payable and accrued liabilities                           97,176             113,431
   Increase (decrease) in accrued interest                                                   76,120                   0
                                                                                 ------------------    ----------------

Net cash provided (used) by operating activities                                                441            (112,086)
                                                                                 ------------------    ----------------

CASH FLOWS FROM INVESTING ACTIVITIES:
   (Increase) decrease in investment in marketable equity securities                        (11,832)                  0
   Purchase of property and equipment                                                        (1,294)                  0
                                                                                 ------------------    ----------------

Net cash provided (used) by investing activities                                            (13,126)                  0
                                                                                 ------------------    ----------------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Proceeds received from debt and notes                                                          0
   Repayment of debt and notes                                                              (17,500)                  0
                                                                                 ------------------    ----------------

Net cash provided (used) by financing activities:                                           (17,500)                  0
                                                                                 ------------------    ----------------

Net increase (decrease) in cash and equivalents                                             (30,185)           (112,086)

CASH and equivalents, beginning of period                                                    45,709             171,807
                                                                                 ------------------    ----------------

CASH and equivalents, end of period                                              $           15,524    $         59,721
                                                                                 ==================    ================
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Payment of interest in cash                                                      $                0    $              0
                                                                                 ==================    ================
NON-CASH FINANCING ACTIVITIES:
   Accounts payable converted to notes payable                                   $                0    $        300,000
                                                                                 ==================    ================
</TABLE>


     The accompanying notes are an integral part of the financial statements


                                       F-5

<PAGE>



                        ADVANCED GAMING TECHNOLOGY, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Information with regard to the nine months ended September 30, 2002 and 2001 is
unaudited)


(1) SUMMARY OF SIGNIFICANT ACCOUNT POLICIES
    THE COMPANY  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 San Antonio,  Texas where it
         is principally  engaged in the  development and marketing of technology
         for the casino and hospitality industry.

         The  financial   statements  have  been  prepared  in  conformity  with
         accounting  principles  generally  accepted  in the United  States.  In
         preparing  the  financial  statements,  management  is required to make
         estimates and  assumptions  that effect the reported  amounts of assets
         and liabilities and disclosure of contingent  assets and liabilities as
         of the dates of the balance sheets and statements of operations for the
         years then  ended.  Actual  results  may differ  from these  estimates.
         Estimates  are  used  when  accounting  for  allowance  for bad  debts,
         collectibility   of  accounts   receivable,   amounts  due  to  service
         providers,   depreciation,   litigation  contingencies,  among  others.
         Certain   reclassifications  have  been  made  in  the  2001  financial
         statements to conform with the 2002 presentation.

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

         A) CASH  EQUIVALENTS  The  Company  considers  all highly  liquid  debt
         instruments  equivalents.  At times  during  any  year,  there may be a
         concentration  of cash at any one  bank  or  financial  institution  in
         excess of insurance limits.

         B) FIXED ASSETS Property and equipment is stated at cost.  Depreciation
         is computed on the straight-line  method, based on the estimated useful
         lives of the assets of generally three to five years.  Expenditures for
         maintenance  and repairs are charged to operations  as incurred.  Major
         overhauls and  improvements  are capitalized and depreciated over their
         useful lives. Upon sale or other disposition of property and equipment,
         the  cost and  related  accumulated  depreciation  or  amortization  if
         removed  from the  accounts,  and any gain or loss is  included  in the
         determination of income or loss.

         C) NET  INCOME  (LOSS) PER COMMON  SHARE,  BASIC Net income  (loss) per
         share is computed by dividing  the net income by the  weighted  average
         number of shares  outstanding  during the period. Net income per share,
         diluted,  is not presented,  as no potentially  dilutive securities are
         outstanding.

         D)  INVESTMENT  IN  MARKETABLE  EQUITY  SECURITIES   Marketable  equity
         securities  are marked to market at period end in accordance  with SFAS
         115.  The  Company  considers  its  investments  in  marketable  equity
         securities as available-for-sale.

         E) INTERIM FINANCIAL  INFORMATION The financial statements for the nine
         months ended  September 30, 2002 and 2001 are unaudited and include all
         adjustments  which in the opinion of management  are necessary for fair
         presentation,  and  such  adjustments  are of a  normal  and  recurring
         nature.  The results for the nine months are not  indicative  of a full
         year results.

(2) INCOME TAXES Deferred  income  taxes  (benefits) are  provided  for  certain
         income and expenses which are  recognized in different  periods for tax
         and financial  reporting  purposes.  The Company had net operating loss
         carryforwards  for income tax  purposes  of  approximately  $1,113,000,
         expiring at various dates from December 31, 2008 and December 31, 2015.
         A loss  generated  in a  particular  year will  expire for  federal tax
         purposes if not utilized  within  fifteen years.  The Internal  Revenue
         Code contains  provisions  that would reduce or limit the  availability
         and  utilization of these net operating loss  carryforwards  if certain
         ownership changes have been or will be taking place .In accordance with
         SFAS No. 109, a valuation  allowance is provided when it is more likely
         than

                                       F-6

<PAGE>

<TABLE>


                        ADVANCED GAMING TECHNOLOGY, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(2) INCOME TAXES,  (CONTINUED) 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  loss  carryforwards,  the  Company
         established a valuation  allowance  for the entire net deferred  income
         tax asset of $223,000 as of September 30, 2002.

(3) STOCKHOLDERS' EQUITY The  company  has  authorized  150,000,000   shares  of
         $0.005 par value common stock and  4,000,000  shares of $0.10 par value
         preferred  stock,  with 21,430,587 and 0 shares issued and outstanding,
         respectively.  Rights and  privileges of the preferred  stock are to be
         determined by the Board of Directors prior to issuance.

(4) CHANGE IN CONTROL  On  June 12, 2002, PowerHouse  Management, Inc.,  of  San
         Antonio,   Texas,  purchased   approximately  56%  of  the  issued  and
         outstanding  shares of common stock of the  Company.  At the same time,
         all former officers and directors resigned after electing new directors
         who appointed new officers.

(5) NOTES PAYABLE Notes payable consist of the following:

                                                                   2002                2001
                                                              ---------------    ----------------
<S>                                                           <C>                <C>

          Note  payable,  interest  at 9%,  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
          $0.53 per share.                                    $     1,004,161    $        940,939

          Note payable, no interest, to a former officer of
          the Company and secured by the proceeds of a
          lawsuit settlement receivable.                               22,500                   0

          Note payable, interest at prime plus 2%,
          payable to an officer of the company and
          secured by all assets of the company.                             0             426,485
                                                              ---------------    ----------------

          Net long-term debt                                   $    1,026,661    $      1,367,424
                                                              ===============    ================
</TABLE>

         As part and parcel to the change in control,  (see Note 4), the officer
         owed the note  payable  agreed to forgive  all but $40,000 of his note.
         His note had  included  accrued  salary  and  accrued  interest.  These
         amounts were accrued up to the date of the change of control,  June 12,
         2002. As a result,  the Company recognized a gain on the forgiveness of
         debt of $497,526.

(6) COMMITMENTS  AND  CONTINGENCIES  The Company filed for  reorganization under
         Chapter 11  of  the  US  Bankruptcy  Code  in  Las  Vegas,  Nevada   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
         renegotiated.  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  $1.00 of allowed
         claim.  The Company  issued  25,000,000  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  21,000,000  shares  were  issued  to  creditors,
         existing  shareholders  and new investors.  A reserve of  approximately
         4,000,000 shares if maintained for additional allowed claims.

                                       F-7

<PAGE>



                        ADVANCED GAMING TECHNOLOGY, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(7) REORGANIZATION  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.

(8) GOING CONCERN The accompanying  financial statements have  been  prepared in
         conformity  with  accounting  principles  generally  accepted  in   the
         United States,  which contemplates  continued of the Company as a going
         concern.  However,  the Company  has  sustained  substantial  operating
         losses in recent  years and has used  substantial  amounts  of  working
         capital in its operations. Realization of a major portion of the assets
         reflected on 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  requires  and succeed in its
         future  operations.  Management  believes that actions  presently being
         taken to revise the  Company's  operating  and  financial  requirements
         provide  them with the  opportunity  for the  Company to  continue as a
         going concern.

(9) FIXED ASSETS  Subsequent to the change in control,  the Company  elected  to
         write off the  undepreciated  value of its fixed assets.  As a  result,
         the Company  recorded $36,862 in depreciation in excess of the previous
         $15,000 per  quarter.  In addition,  the Company  intends to dispose of
         these fixed assets, which it believes have no value.















                                       F-8

<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, 2001. 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.

In August of 1998, the Company filed for reorganization  under Chapter 11 of the
US  Bankruptcy  Code in the  District of Las Vegas.  The  Company  operated as a
debtor-in-possession  until  June 29,  1999 when its plan was  confirmed  by the
court.  The plan became  effective  on August 19,  1999.  Under the terms of the
court-approved  plan,  the existing  common stock  interests in Advanced  Gaming
Technology, Inc. were cancelled. The Company, as reorganized,  issued new common
stock.  The plan provided,  generally,  that unsecured  creditors of the Company
holding  allowed  claims  receive 1.88 shares of new common stock for each $1 of
allowed  claim.  Holders of common  stock of the company  received 7% of the new
common stock under the terms of the plan.

The Company has adopted  fresh-start  accounting  on the  effective  date of the
plan, in accordance with AICPA  Statement of Position 90-7 "Financial  Reporting
by Entities in  Reorganization  Under the Bankruptcy Code" (SOP 90-7). The fresh
start  reporting  was first  reflected in the  September  30, 1999  Consolidated
Balance Sheet.

Liabilities  subject to compromise  immediately prior to the effective date were
discharged on the  effective  date.  Depending on the nature of the claim,  each
obligation was paid,  exchanged for stock,  discharged,  or carried forward as a
new liability under the terms of the plan.

Results of Operations -

Nine Months 2002 Compared to 2001

Operating  loss  for the nine  months  ended  September  30,  2002 was  $181,000
compared to  $222,400  for the same period in 2001.  The  decrease in  operating
income was the result of a decrease in revenue  from  placement  of Max Lite and
Max Plus units.  There was no revenue in the current year from electronic  bingo
products.  The  electronic  bingo units are not  competitive  due to the age and
quality  of the  product.  Management  does not  expect  revenue  from  existing
electronic  bingo units in the future.  The Company is  currently  pursuing  all
possible options including the sale of company assets, merger or dissolution.

Expenses for the first nine months of 2002 were $181,000 compared to $307,500 in
the prior year.  The  decrease is due to the Company  writing off the  remaining
book value of its fixed  assets  and  reduction  of salary  and other  operating
expenses.  In addition,  $165,000 of the 2002 expenses  were  non-cash  expenses
representing depreciation and unpaid salary. Salaries and wages in the amount of
$98,125 were accrued but not paid at the election of  management  in both years.
Management is making efforts to minimize cash outlays.

Other income  (expense) for the first nine months of 2002 was $439,000  compared
to $(108,600) in 2001.


                                       10

<PAGE>



Third Quarter 2002 Compared to 2001

Operating loss for the three months ended September 30, 2002 was $6,000 compared
to $97,800 for the same period in 2001. The decrease in operating income was the
result of a decrease in revenue  from  placement of Max Lite and Max Plus units.
There was no revenue in the current quarter from electronic bingo products.  The
electronic  bingo  units are not  competitive  due to the age and quality of the
product. Management does not expect revenue from existing electronic bingo units
in the future.

The Company is currently  pursuing all possible  options  including  the sale of
company assets, merger or dissolution.

Expenses for the third  quarter of 2002 were $6,000  compared to $101,500 in the
prior year. The decrease is due to the change in control, which ended the salary
accrual and writing off the remaining book value of its fixed assets. Management
is making efforts to minimize cash outlays.

Liquidity and Capital Resources -

The Company has a cash  balance of $15,500  and short term loans  receivable  of
$11,800.  The Company will require  additional  capital to continue  operations.
There is no assurance that capital will be available.

The Company's debt was restructured,  pursuant to the reorganization plan during
1999. Long-term debt was reduced to two notes totaling $2.6 million. In March of
2000, the Company further reduced  long-term debt by eliminating a $1.75 million
note.

The Company  disposed  of its 22%  interest  in  TravelSwitch,  LLC, an Internet
travel service provider,  during the second quarter of 2002. The Company did not
record any gain or loss on this  transaction,  as it had previously  reduced its
net book value of this asset to zero, and it received no compensation to dispose
of this asset.

Change in Control

On June 12, 2002, PowerHouse Management,  Inc., of San Antonio, Texas, purchased
approximately  56% of the issued and  outstanding  shares of common stock of the
Company.  At the same time,  all former  officers and directors  resigned  after
electing new directors who appointed new officers.

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.

ITEM 3.  CONTROLS AND PROCEDURES

         The Company's Chief Executive  Officer and Chief Financial Officer have
concluded,  based on an evaluation  conducted within 90 days prior to the filing
date of this  Quarterly  Report  on Form  10-Q,  that the  Company's  disclosure
controls and  procedures  have  functioned  effectively  so as to provide  those
officers the information necessary whether:

                  (i) this  Quarterly  Report on Form 10-Q  contains  any untrue
                  statement of a material fact or omits to state a material fact
                  necessary  to  make  the  statements  made,  in  light  of the
                  circumstances  under  which such  statements  were  made,  not
                  misleading   with  respect  to  the  period  covered  by  this
                  Quarterly Report on Form 10-Q, and


                                       11

<PAGE>



                  (ii) the financial statements, and other financial information
                  included in this Quarterly Report on Form 10-Q, fairly present
                  in all material respects the financial  condition,  results of
                  operations  and cash flows of the Company as of, and for,  the
                  periods presented in this Quarterly Report on Form 10-Q.

         There  have  been no  significant  changes  in the  Company's  internal
controls or in other factors since the date of the Chief Executive Officer's and
Chief  Financial  Officer's  evaluation  that could  significantly  affect these
internal controls,  including any corrective actions with regards to significant
deficiencies and material weaknesses

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

Exhibit 99.1   Sarbanes-Oxley certification
Exhibit 99.2   Sarbanes-Oxley certification
Form 8-K filed on June 13, 2002.

                                   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: 12 November 2002         By: /s/ GARY L. CAIN
                                            ------------------------------------
                                            Gary L. Cain
                                            Chief Executive Officer and Director






                                       12

<PAGE>



                                 CERTIFICATIONS

         I, Gary Cain, certify that:

         1.     I have reviewed this quarterly report on Form 10-QSB of Advanced
Gaming Technology, Inc.;

         2.     Based on my knowledge,  this  quarterly  report does not contain
any  untrue  statement  of a  material  fact or omit to  state a  material  fact
necessary to make the statements made, in light of the circumstances under which
such  statements were made, not misleading with respect to the period covered by
this quarterly report; and

         3.     Based on  my  knowledge, the  financial  statements,  and  other
financial  information included in this quarterly report,  fairly present in all
material respects the financial condition,  results of operations and cash flows
of the  registrant  as of, and for,  the  periods  presented  in this  quarterly
report.

         4.    The registrant's other certifying officers and I are  responsible
for establishing and maintaining  disclosure controls and procedures (as defined
in exchange act rules 13a-14 and 15d-14) for the registrant and have:

         A)     designed  such  disclosure  controls and  procedures to ensure
                that  material   information   relating  to  the   registrant,
                including its consolidated  subsidiaries,  is made known to us
                by others  within  those  entities,  particularly  during  the
                period in which this quarterly report is being prepared;

         B)     evaluated the  effectiveness  of the  registrant's  disclosure
                controls and  procedures  as of a date within 90 days prior to
                the filing  date of this  quarterly  report  (the  "evaluation
                date"); and

         C)     presented in this quarterly  report our conclusions  about the
                effectiveness of the disclosure  controls and procedures based
                on our evaluation as of the evaluation date;

         5.     The registrant's other certifying officers and I have disclosed,
based on our most recent evaluation,  to the registrant's auditors and the audit
committee  of  registrant's  board  of  directors  (or  persons  performing  the
equivalent functions):

         A)     all  significant  deficiencies  in the design or  operation of
                internal   controls   which   could   adversely   affect   the
                registrant's ability to record, process,  summarize and report
                financial  data  and  have  identified  for  the  registrant's
                auditors any material weaknesses in internal controls; and

         B)     any fraud,  whether or not material,  that involves management
                or  other  employees  who  have  a  significant  role  in  the
                registrant's internal controls.

         6.     The registrant's other certifying  officers and I have indicated
in this  quarterly  report  whether  or not there  were  significant  changes in
internal controls or in other factors that could  significantly  affect internal
controls  subsequent  to the date of our most recent  evaluation,  including any
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.

Date: November 12, 2002

/s/  Gary Cain
----------------------------------------------------
     Gary Cain
     Chief Executive Officer (or equivalent thereof)






                                       13

<PAGE>



         I, Gary Cain, certify that:

         1.     I have reviewed this quarterly report on Form 10-QSB of Advanced
Gaming Technology, Inc.;

         2.     Based on my knowledge,  this  quarterly  report does not contain
any  untrue  statement  of a  material  fact or omit to  state a  material  fact
necessary to make the statements made, in light of the circumstances under which
such  statements were made, not misleading with respect to the period covered by
this quarterly report;

and
         3.     Based  on  my  knowledge, the  financial  statements, and  other
financial  information included in this quarterly report,  fairly present in all
material respects the financial condition,  results of operations and cash flows
of the  registrant  as of, and for,  the  periods  presented  in this  quarterly
report.

         4.     The registrant's other certifying officers and I are responsible
for establishing and maintaining  disclosure controls and procedures (as defined
in exchange act rules 13a-14 and 15d-14) for the registrant and have:

         A)     designed  such  disclosure  controls and  procedures to ensure
                that  material   information   relating  to  the   registrant,
                including its consolidated  subsidiaries,  is made known to us
                by others  within  those  entities,  particularly  during  the
                period in which this quarterly report is being prepared;

         B)     evaluated the  effectiveness  of the  registrant's  disclosure
                controls and  procedures  as of a date within 90 days prior to
                the filing  date of this  quarterly  report  (the  "evaluation
                date"); and

         C)     presented in this quarterly  report our conclusions  about the
                effectiveness of the disclosure  controls and procedures based
                on our evaluation as of the evaluation date;

         5.     The registrant's other certifying officers and I have disclosed,
based on our most recent evaluation,  to the registrant's auditors and the audit
committee  of  registrant's  board  of  directors  (or  persons  performing  the
equivalent functions):

         A)     all  significant  deficiencies  in the design or  operation of
                internal   controls   which   could   adversely   affect   the
                registrant's ability to record, process,  summarize and report
                financial  data  and  have  identified  for  the  registrant's
                auditors any material weaknesses in internal controls; and

         B)     any fraud,  whether or not material,  that involves management
                or  other  employees  who  have  a  significant  role  in  the
                registrant's internal controls.

         6.     The registrant's other certifying  officers and I have indicated
in this  quarterly  report  whether  or not there  were  significant  changes in
internal controls or in other factors that could  significantly  affect internal
controls  subsequent  to the date of our most recent  evaluation,  including any
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.

Date: November 12, 2002

/s/ Gary Cain
---------------------------------------------------
    Gary Cain
    Chief Financial Officer (or equivalent thereof)







                                       14