**Delaware**  (State or other jurisdiction of incorporation or organization)

**74-2723809**(I.R.S. Employer Identification No.)

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| Part I. Financial Information |                                                                   |
|-------------------------------|------------------------------------------------------------------------|
|                               |                                                                        |  |
| Item 1.                       | Financial Statements                                                   |  |
|                               |                                                                        |  |
| a)                            | Consolidated      Statements of Operations for the Three               |  |
|                               | Months Ended      March 31, 2003 and 2002                              | 2 |
|                               |                                                                        |  |
| b)                            | Consolidated      Balance Sheet as of March 31, 2003                   | 3 |
|                               |                                                                        |  |
|                               | Consolidated      Statements of Cash Flows for the Three               |  |
| c)                            | Months Ended      March 31, 2003 and 2002                              | 5 |
|                               |                                                                        |  |
| d)                            | Notes to Consolidated      Financial Statements                        | 7 |
|                               |                                                                        |  |
| Item 2.                       | Management’s      Discussion and Analysis of Financial Condition |  |
|                               | And Results of      Operations                                         | 14 |
|                               |                                                                        |  |
| Part II. Other Information    |                                                                        |
|                               | Item 1. Legal      Proceedings                                         | 15 |
|                               |                                                                        |  |
|                               | Item 4. Items      Voted on at Annual Shareholders’Meeting       | 15 |
|                               |                                                                        |  |
|                               | Item 6. Exhibits      and Reports on Form 8-K                          | 16 |
|                               |                                                                        |  |
| Signatures                    |                                                                   |

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| **Three Months      Ended March 31,**                                                   | **2003**   | **2002**   |
|-----------------------------------------------------------------------------------------|------------|------------|
|                                                                                         |            |            |
| REVENUES:                                                                               |            |            |
| Entertainment                                                                           | $1,744,888 | $1,764,193 |
| Amusements                                                                              | 83,908     | 345,819    |
| Hospitality                                                                             | 622,952    | 878,000    |
| Other                                                                                   | 1,812      | 1,803      |
| TOTAL REVENUES                                                                          | 2,453,560  | 2,989,815  |
|                                                                                         |            |            |
| DIRECT COSTS      AND EXPENSES:                                                         |            |            |
| Direct salaries      and other compensation                                             | 618,654    | 885,145    |
| Rent and utilities      ($5,307 and $5,307, respectively to related parties)            | 542,361    | 485,226    |
| Other direct      operating costs                                                       | 593,311    | 758,489    |
| Depreciation      and amortization                                                      | 208,879    | 248,796    |
| License expense                                                                         | 26,244     | 35,957     |
| TOTAL COSTS AND      EXPENSES                                                           | 1,989,449  | 2,413,613  |
|                                                                                         |            |            |
| GROSS MARGIN                                                                            | 464,111    | 576,202    |
|                                                                                         |            |            |
| GENERAL AND ADMINISTRATIVE      EXPENSES                                                |            |            |
| Salaries and      other compensation                                                    | 156,680    | 197,093    |
| Legal and accounting      fees                                                          | 63,781     | 38,135     |
| Depreciation      and amortization                                                      | 35,798     | 23,742     |
| Other general      and administrative                                                   | 115,045    | 134,864    |
| Unusual &      nonrecurring items: Provision for doubtful accounts & write-offs | ---        | 14,720     |
| TOTAL GENERAL      AND ADMINISTRATIVE EXPENSES                                          | 371,304    | 408,554    |
|                                                                                         |            |            |
| OPERATING INCOME      (LOSS)                                                            | 92,807     | 167,648    |
| OTHER INCOME      AND EXPENSES:                                                         |            |            |
| Interest and      investment income                                                     | 9,030      | 60,317     |
| Interest expense      ($26,594 and $45,215 respectively to related parties)             | (91,442)   | (69,504)   |
| Gain (loss) on      fixed asset sales                                                   | 36,929     | (5,232)    |
| Write-off of      abandoned assets                                                      | (11,936)   | ---        |
| Gain (loss) on      sale of investments                                                 | (51,637)   | ---        |
| Other income      and (expense)                                                         | ---        | (6,903)    |
| TOTAL OTHER INCOME      AND EXPENSES                                                    | (109,056)  | (21,322)   |
|                                                                                         |            |            |
| NET INCOME (LOSS)      BEFORE PROVISION FOR INCOME TAXES                                | (16,249)   | 146,326    |
|                                                                                         |            |            |
| PROVISION FOR      INCOME TAXES                                                         | 15,000     | 7,277      |
|                                                                                         |            |            |
| NET INCOME (LOSS)                                                                       | (31,249)   | 139,049    |
|                                                                                         |            |            |
| OTHER COMPREHENSIVE      INCOME (LOSS)                                                  | 74,009     | (2,719)    |
|                                                                                         |            |            |
| NET COMPREHENSIVE      INCOME (LOSS)                                                    | $42,760    | $136,330   |

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| **Three Months      Ended March 31,**              | **2003**  | **2002**  |
|----------------------------------------------------|-----------|-----------|
| EARNINGS (LOSS)      PER SHARE:                    |           |           |
| Basic earnings      (loss) per share               | ($.004)   | $.017     |
|                                                    |           |           |
| Diluted earnings      (loss) per share             | ($.004)   | $.017     |
|                                                    |           |           |
| Weighted average      shares outstanding - basic   | 8,226,049 | 8,047,334 |
|                                                    |           |           |
| Weighted average      shares outstanding - diluted | 8,226,049 | 8,047,334 |

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| **ASSETS**                                                                                                                          |
|-------------------------------------------------------------------------------------------------------------------------------------|
| Current Assets:                                                                                                                     | **March 31, 2003** |
| Cash and cash equivalents                                                                                                           | $180,245 |
| Accounts receivable,        net of allowance for doubtful accounts of $63,923                                                       | 346,181 |
| Accounts receivable,        other                                                                                                   | 210,134 |
| Equity Securities,        available for sale                                                                                        | 440,428 |
| Other prepaid expenses        and current assets                                                                                    | 457,764 |
| Total Current Assets                                                                                                                | 1,634,752 |
|                                                                                                                                     |  |
| Property and Equipment        – at cost, net of accumulated depreciation and amortization                                     | 8,566,093 |
|                                                                                                                                     |  |
| Other Assets:                                                                                                                       |  |
| Notes receivable,        net of allowance for doubtful accounts                                                                     | 845,000 |
| Notes receivable,        accrued interest                                                                                           | 222,603 |
| Intangible assets,        net                                                                                                       | 4,622,936 |
| Other non-current        assets                                                                                                     | 167,990 |
| Total Other Assets                                                                                                                  | 5,858,529 |
|                                                                                                                                     |  |
| TOTAL ASSETS                                                                                                                        | $16,059,374 |
|                                                                                                                                     |  |
| **LIABILITIES AND STOCKHOLDERS' EQUITY**                                                                                            |
|                                                                                                                                     |  |
| Current Liabilities:                                                                                                                |  |
| Notes payable                                                                                                                       | $483,127 |
| Obligations under        capital lease                                                                                              | 58,234 |
| Long term debt, current        portion                                                                                              | 662,941 |
| Long term debt-related        party, current portion                                                                                | 293,750 |
| Trade accounts payable                                                                                                              | 247,288 |
| Reserve for settlements                                                                                                             | 1,727,500 |
| Accrued expenses                                                                                                                    | 572,413 |
| Other current liabilities-related        party                                                                                      | 370,822 |
| Total Current Liabilities                                                                                                           | 4,416,075 |
|                                                                                                                                     |  |
| Long-term Liabilities:                                                                                                              |  |
| Accrued liabilities,        long term                                                                                               | 193,045 |
| Obligations under        capital lease, net of current                                                                              | 106,037 |
| Long term debt, net        of current portion                                                                                       | 2,767,866 |
| Long term debt-related        party, net of current portion                                                                         | 818,150 |
| Total Long-term Liabilities                                                                                                         | 3,885,098 |
| Total Liabilities                                                                                                                   | 8,301,173 |
|                                                                                                                                     |  |
| Commitments and Contingencies                                                                                                       |  |
| Capital leases payable                                                                                                              | 135,163 |
|                                                                                                                                     |  |
| Stockholders' Equity:                                                                                                               |  |
| Common stock, $.001        par value, (authorized 20,000,000 shares, issued 10,176,890 shares, outstanding        8,272,379 shares) | 10,177 |
| Subscription receivable                                                                                                             | (27,592) |
| Additional paid-in-capital                                                                                                          | 23,760,759 |
| Treasury stock –        1,904,511 shares, at cost                                                                             | (2,428,577) |
| Accumulated Comprehensive        Income                                                                                             | (49,161) |
| Accumulated deficit                                                                                                                 | (13,642,568) |
| Total Stockholders'        Equity                                                                                                   | 7,623,038 |
|                                                                                                                                     |  |
| TOTAL LIABILITIES        AND STOCKHOLDERS' EQUITY                                                                                   | $16,059,374 |

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| **Three months        Ended March 31,**                                                                  | **2003**  | **2002**  |
|----------------------------------------------------------------------------------------------------------|-----------|-----------|
|                                                                                                          |           |           |
| CASH FLOWS        FROM OPERATING ACTIVITIES:                                                             |           |           |
| Net income        (loss)                                                                                 | ($31,249) | $139,049  |
| Adjustments        to reconcile net income to net cash provided by operating activities:                 |           |           |
| Depreciation        and amortization                                                                     | 244,677   | 272,538   |
| Loss on sales        of investments                                                                      | 51,637    | 0         |
| Loss (gain)        on sales of fixed assets                                                              | (36,929)  | 4,193     |
| Loss on write-off        of abandoned assets                                                             | 11,936    | 0         |
| Increase (decrease)        in cash flows as a result of changes in asset and liability account balances: |           |           |
| Accounts receivable                                                                                      | 164,037   | 223,395   |
| Other assets        and licenses                                                                         | (37,059)  | (156,770) |
| Trade accounts        payable                                                                            | (340,610) | (234,231) |
| Accrued expenses        and other current liabilities                                                    | 11,624    | 74,768    |
| NET CASH PROVIDED        BY OPERATING ACTIVITIES                                                         | 38,064    | 322,942   |
|                                                                                                          |           |           |
| CASH FLOWS        FROM INVESTING ACTIVITIES:                                                             |           |           |
| Property and        equipment expenditures                                                               | (7,041)   | (603,878) |
| Collections        of notes receivable                                                                   | 0         | 8,667     |
| Purchase of        goodwill and intangibles                                                              | 0         | (48,580)  |
| Proceeds from        sale of equity securities                                                           | 424,781   | 0         |
| Proceeds from        sale of property and equipment                                                      | 193,433   | 4,700     |
| NET CASH PROVIDED        (USED) IN INVESTING ACTIVITIES                                                  | 611,173   | (639,091) |
|                                                                                                          |           |           |
| CASH FLOWS        FROM FINANCING ACTIVITIES:                                                             |           |           |
| Payments on        capital lease obligations                                                             | (8,377)   | 0         |
| Payments on        notes payable                                                                         | (653,438) | (228,572) |
| Collections        (increase) of subscribed receivables                                                  | 3,768     | (69,065)  |
| Proceeds from        issuance of notes payable                                                           | 0         | 152,463   |
| NET CASH USED        IN FINANCING ACTIVITIES                                                             | (658,047) | (145,174) |
|                                                                                                          |           |           |
| NET INCREASE        (DECREASE) IN CASH                                                                   | (8,810)   | (461,323) |
|                                                                                                          |           |           |
| CASH AT BEGINNING        OF PERIOD                                                                       | 189,055   | 956,417   |
|                                                                                                          |           |           |
| CASH AT END        OF PERIOD                                                                             | $180,245  | $495,094  |

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| **Three months        Ended March 31,**                                    | **2003** | **2002** |
|----------------------------------------------------------------------------|----------|----------|
|                                                                            |          |          |
| SUPPLEMENTAL        DISCLOSURES OF CASH FLOW INFORMATION:                  |          |          |
|                                                                            |          |          |
| Cash payments:                                                             |          |          |
|                                                                            |          |          |
| Interest                                                                   | $92,958  | $69,504  |
|                                                                            |          |          |
| Income taxes                                                               | $17,500  | $42,000  |
|                                                                            |          |          |
| Non-cash transactions:                                                     |          |          |
|                                                                            |          |          |
| Acquisition        of property and equipment in exchange for notes payable | $ 0      | $152,463 |
|                                                                            |          |          |
| Equipment purchased        under capital lease                             | $75,691  | $ 0      |

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| Land                                                 | $931,724    |
|------------------------------------------------------|-------------|
| Buildings                                            | 3,451,906   |
| Leasehold improvements                               | 4,161,026   |
| Rental Inventory      and bingo equipment            | 1,483,226   |
| Equipment, furniture      and fixtures               | 2,295,752   |
| Automobiles                                          | 420,884     |
|                                                      | 12,744,518  |
|                                                      |             |
| Less: Accumulated      depreciation and amortization | (4,178,425) |
|                                                      |             |
| Property and      equipment, net                     | $8,566,093  |

| Goodwill                                                      | $6,995,714  |
|---------------------------------------------------------------|-------------|
| Bingo licenses                                                | 264,720     |
| Capitalized acquisition      costs related to note receivable | 50,950      |
| Covenants not      to compete                                 | 385,000     |
|                                                               | 7,696,384   |
|                                                               |             |
| Less: Accumulated      amortization                           | (3,073,448) |
|                                                               |             |
| Intangible assets,      net                                   | $4,622,936  |

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| **Three months      ended March 31,**    | **2003**  | **2003**  | **2002**  | **2002**  |
|------------------------------------------|-----------|-----------|-----------|-----------|
|                                          | Basic     | Diluted   | Basic     | Diluted   |
| Numerator:                               |           |           |           |           |
| Net income (loss)                        | $(31,249) | $(31,249) | $139,049  | $139,049  |
|                                          |           |           |           |           |
| Denominator:                             |           |           |           |           |
| Weighted average      shares outstanding | 8,226,049 | 8,226,049 | 8,047,334 | 8,047,334 |
| Effect of dilutive      securities:      |           |           |           |           |
| Preferred stock                          | ---       | ---       | ---       | ---       |
| Stock options      and warrants          | ---       | ---       | ---       | ---       |
| Weighted average      shares outstanding | 8,226,049 | 8,226,049 | 8,047,334 | 8,047,334 |
|                                          |           |           |           |           |
| Earnings (loss)      per share           | $(.004)   | $(.004)   | $.017     | $ .017    |

|                                        | **2003**  | **2002** |
|----------------------------------------|-----------|----------|
| Net income (loss)                      | $(31,249) | $139,049 |
|                                        |           |          |
| Other comprehensive      income (loss) |           |          |
| Net unrealized      gain (loss)        | 74,009    | (2,719)  |
|                                        |           |          |
| Total comprehensive      income (loss) | $42,760   | $136,330 |

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| **March 31,      2003**            |                   |                |                 |                |                  |
|------------------------------------|-------------------|----------------|-----------------|----------------|------------------|
|                                    | **Entertainment** | **Amusements** | **Hospitality** | **Adjustment** | **Consolidated** |
| Revenue                            | $1,744,888        | $83,908        | $622,952        | $1,812         | $2,453,560       |
| Depreciation      and Amortization | 118,668           | 10,001         | 80,209          | 35,799         | 244,677          |
| Segment profit      (loss)         | 703,380           | 47,553         | (291,361)       | (490,821)      | (31,249)         |
| Segment Assets                     | 20,391,161        | 212,937        | 1,846,297       | (6,391,021)    | 16,059,374       |
|                                    |                   |                |                 |                |                  |
| **March 31,      2002**            |                   |                |                 |                |                  |
|                                    | **Entertainment** | **Amusements** | **Hospitality** | **Adjustment** | **Consolidated** |
| Revenue                            | $1,764,193        | $345,819       | $878,000        | $1,803         | $2,989,815       |
| Depreciation      and Amortization | 93,556            | 86,112         | 69,128          | 23,742         | 272,538          |
| Segment profit      (loss)         | 746,352           | 105,827        | (292,256)       | (420,874)      | 139,049          |
| Segment Assets                     | 17,356,117        | 3,620,050      | 3,924,004       | (7,855,373)    | 17,044,798       |

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- Certification of Chief Executive Officer
- Certification of Chief Financial Officer

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| ExhibitNumber | Description                                      | SequentialPage Number |
|---------------|--------------------------------------------------|-----------------------|
| 27.1          | Financial Data      Schedule (for SEC use only). |                       |
| 99.1          | Certification      of Periodic Financial Reports | 18                    |
| 99.2          | Certification      of Chief Executive Officer    | 19                    |
| 99.3          | Certification      of Chief Financial Officer    | 20                    |

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