U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-KSB

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

                  For The Fiscal Year Ended: December 31, 2000

                                       or

[ ]       TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

 For the transition period from _____________ to _______________

 Commission file number  000-21991______

                        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.)

                     P  O  Box  46855,  Las  Vegas,  Nevada  89114
(Address  of principal executive offices)                (Zip code)

Issuer's telephone number             (702) 227-6578

Securities registered under Section 12(b) of the Act: NONE

Securities registered under Section 12(g) of the Act:

                          Common Stock Par Value $.005

                                (Title of Class)

                                        1


<PAGE>

     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 required for the past 90 days. Yes X No

                                                         Total pages: 21
                                                  Exhibit Index Page: 19


     Check if there is no disclosure of delinquent  filers  pursuant to Item 405
of  Regulation  S-B is not  contained in this form,  and no  disclosure  will be
contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this form 10-KSB. [X]


     State issuer's revenues for its most recent fiscal year: $ 20,000


     As of January 31, 2000,  there were 25,000,000  shares of the  Registrant's
common stock,  par value $0.005,  issued and  outstanding.  The aggregate market
value of the Registrant's  voting stock held by non-affiliates of the Registrant
was  approximately  $ 695,512  computed at the average bid and asked price as of
January 31, 2001.

                         ISSUERS INVOLVED IN BANKRUPTCY

                      PROCEEDING DURING THE PAST FIVE YEARS

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

                       DOCUMENTS INCORPORATED BY REFERENCE

     If the following documents are incorporated by reference,  briefly describe
them and identify the part of the Form 10-KSB (e.g., Part I, Part II, etc.) Into
which  the  document  is  incorporated:   (1)  any  annual  report  to  security
holders;(2)  any proxy or information  statement;  and (3) any prospectus  filed
pursuant to Rule 424(b) or (c) of the Securities Act of 1933 ("Securities Act"):

     None

     Transitional Small Business Disclosure Format (check one): Yes___ NO X


                                        2
<PAGE>


                                TABLE OF CONTENTS

Item Number and Caption                                             Page


PART I

Item 1 Description of Business........................................ 4

Item 2 Description of Property........................................11

Item 3 Legal Proceedings..............................................11

Item 4 Submission of Matters to a Vote of Security Holders............11

PART II

Item 5 Market for Common Equity and Related Stockholder Matters.......12

Item 6 Management's Discussion and Analysis or Plan of Operations ....13

Item 7 Financial Statements...........................................15

Item 8 Changes in and Disagreements with Accountants on Accounting and
       Financial Disclosure...........................................15

PART III

Item 9 Directors,  Executive Officers, Promoters and Control Persons;
       Compliance with Section 16(a) of the Exchange Act..............16

Item 10 Executive Compensation........................................17

Item 11 Security Ownership of Certain Beneficial Owners and
         Management                                                   18

Item 12 Certain Relationships and Related Transactions................18

Item 13 Exhibits and Reports on form 8-K .............................19
















                                        3

<PAGE>


                                     PART I

------------------------------------------------------------------------
                         ITEM I DESCRIPTION OF BUSINESS

------------------------------------------------------------------------

GENERAL

     Advanced Gaming Technology, Inc., a Wyoming corporation (the "Company"), is
a provider of technology to the casino and hospitality  industry.  The company's
principal  product is an electronic bingo system.  The Company's common stock is
traded on the National Association of Securities Dealers,  Inc. (the "NASD") OTC
Bulletin Board Under the symbol "ADVI."

     The Company has the following wholly owned  subsidiaries that are currently
inactive:  Executive  Video Systems,  Inc., a Maryland  corporation  ("Executive
Video"), Palace Entertainment Limited, a company organized under the laws of the
British Virgin Islands ("Palace"),  Prisms,  Inc., a North Carolina  corporation
("Prisms"),  Pleasure World Ltd.,  ("Pleasure World"), and its subsidiary Prisms
(Bahamas) Ltd. ("Prisms  Bahamas"),  both companies  organized under the laws of
the  Bahamas,  and  A.G.T.  Acceptance  Corp.,  a  Nevada  Corporation  ("A.G.T.
Acceptance Corp.").

     The company  also owns twenty two  percent of  TravelSwitch,  LLC, a Nevada
Limited Liability Company. TravelSwitch, LLC is a global Internet travel service
provider.

     The Company  liquidated  the following  subsidiaries  pursuant to a plan of
reorganization confirmed by the U. S. Bankruptcy Court in the District of Nevada
on June  30,  1999:  Branson  Signature  Resorts,  Inc.,  a  Nevada  corporation
("Branson"),  River Oaks Holdings,  Inc., a Missouri corporation ("River Oaks"),
Branson Bluffs Resorts, Inc. ("Branson Bluffs") a Missouri  corporation,  Allied
Resorts, Inc. ("Allied") a Missouri corporation,  River Oaks Resorts and Country
Club, Inc ("River Oaks Resort") a Texas corporation.

The principal office of the Company is located in Las Vegas, Nevada.











                                        4


<PAGE>


     On August 26, 1998 Advanced Gaming  Technology,  Inc and Branson  Signature
Resorts  filed for  reorganization  in Las Vegas  under  chapter 11 of The U. S.
bankruptcy code. The cases were jointly  administered.  The company continued to
operate as "debtor in possession" during the reorganization  effort. The company
filed a plan of reorganization with the bankruptcy court in December,  1998. The
company's plan and  disclosure  statement was approved by the court on March 22,
1998. The plan was confirmed by the bankruptcy  court on June 29, 1999. The plan
became  effective on August 19, 1999.  The final decree to close the  bankruptcy
cases was approved by the bankruptcy court on February 15, 2000.

     OPERATING  LOSSES.  The Company incurred net losses of $564,441,  $394,895,
$3,628,887,  and $9,575,512 for the fiscal years ended December 31, 2000,  1999,
1998  and  1997,   respectively.   Substantial  cost  reductions  were  made  in
conjunction with the plan of reorganization.  However, the company has generated
minimal revenue from product distribution.  The Company's operations are subject
to numerous  risks  associated  operating  any  business,  including  unforeseen
expenses,  delays and complications.  There can be no assurance that the Company
will achieve or sustain profitable  operations or that it will be able to remain
in business.

     FUTURE  CAPITAL NEEDS AND  UNCERTAINTY  OF ADDITIONAL  FUNDING.  Should the
Company  require  additional  financing in the future there is no assurance that
such financing will be available at all or available on terms  acceptable to the
Company.

     GOVERNMENT  REGULATION.  Some of the  Company's  operations  are subject to
gaming laws,  which vary according to the  jurisdiction in which each product is
marketed.  The state and local laws in the United  States  that govern the lease
and use of gaming products vary widely and change  frequently due to legislative
and administrative actions and judicial interpretations. If any changes occur in
gaming laws through  statutory  enactment  or  amendment,  judicial  decision or
administrative  action restricting the manufacture,  distribution or use of some
or all of the Company's  products,  the Company's  present and proposed business
could be  adversely  affected.  The  operation  of  gaming  on  Native  American
reservations is subject to the Indian Gaming  Regulatory Act ("IGR").  Under IGR
certain types of gaming  activities are classified as Class I, Class II or Class
III. The  Company's  business  will be impacted  based upon how its products are
ultimately  classified.  See  "Business - Government  Regulation"  and "Business
-Native American Bingo Operations."

RISK OF  LOW-PRICED  STOCKS.  Rules 15g-1 through  15g-9  promulgated  under the
Securities  Exchange Act of 1934 (the "Exchange  Act") impose sales practice and
disclosure  requirements  on certain  brokers  and dealers who engage in certain
transactions involving "a penny stock."


                                       5

<PAGE>


     Currently,  the  Company's  Common  Stock is  considered  a penny stock for
purposes of the  Exchange  Act. The  additional  sales  practice and  disclosure
requirements imposed on certain brokers and dealers could impede the sale of the
Company's  Common  Stock  in the  secondary  market.  In  addition,  the  market
liquidity and price for the Company's securities may be adversely affected.

     Under the penny stock  regulations,  a broker or dealer selling penny stock
to   anyone    other   than   an    established    customer    or    "accredited
investor"'(generally,  an individual with a net worth in excess of $1,000,000 or
annual  incomes  exceeding  $200,000,  or  $300,000  together  with  his  or her
spouse)must make a special suitability  determination for the purchaser and must
receive the purchaser's written consent to the transaction prior to sale, unless
the broker or dealer or the transaction is otherwise exempt.

     In addition,  the penny stock  regulations  require the broker or dealer to
deliver, prior to any transaction involving a penny stock, a disclosure schedule
prepared by the Securities and Exchange  Commission  (the "SEC") relating to the
penny  stock  market,  unless the  broker,  or  dealer,  or the  transaction  is
otherwise exempt. A broker,  or dealer is also required to disclose  commissions
payable to the broker or dealer and the  registered  representative  and current
quotations for the  Securities.  In addition,  a broker or dealer is required to
send monthly statements  disclosing recent price information with respect to the
penny stock held in a  customer's  account and  information  with respect to the
limited market in penny stocks.

     TRADEMARK AND PATENT  PROTECTION.  The Company  relies on a combination  of
patent,  copyright and trademark law and technical  security measures to protect
certain  products.   Notwithstanding  these  safeguards,   it  is  possible  for
competitors  of the  Company  to imitate it  products.  Furthermore,  others may
independently develop products similar or superior to those developed or planned
by the Company.  While the Company may obtain patents with respect to certain of
its  products,  the Company  may not have  sufficient  resources  to defend such
patents;  such patents may not afford all necessary  protection and  competitors
may develop  equivalent or superior products that may not infringe such patents.
See "Business - Patents and Trademarks."

PRODUCTS

MAX BINGO SYSTEMS

     The Company's MAX Bingo Systems currently include three different products:

     [i] MAXPLUS. The MAXPLUS is a fixed based Electronic Bingo System.  MAXPLUS
is designed to increase bingo revenue at bingo halls, reduce

                                       6

<PAGE>



administration  costs and increase the excitement of play. MAXPLUS gives players
the opportunity to electronically play up to 300 bingo cards simultaneously.  In
addition,  the System tracks necessary  financial and analytical  information by
providing a fully integrated accounting package.

     [ii] Max Lite(TM).  The Max Lite(TM) Bingo system is a portable,  hand-held
electronic  bingo unit that allows users to play up to 300 bingo cards per game.
The unit offers many of the  advantages  of the MAXPLUS  system in a lightweight
wireless package.  The Max Lite(TM) utilizes patented radio frequency technology
to communicate  with the caller console in a bingo hall. This feature,  known as
"autodaub", instantly marks the numbers on all bingo cards as they are called.

     [iii] TurboMAX.  TurboMAX is a pari-mutuel electronic bingo system that has
five  progressive  jackpots  with  five  different  patterns  for each  game.  A
percentage of player purchases can be allocated toward a jackpot, which allows a
jackpot to be offered on every game.  This  high-speed  bingo game can be played
every 45 to 60 seconds.

OTHER PRODUCTS

INVESTMENT IN TRAVELSWITCH

     In January,  2000 the company  formed  TravelSwitch,LLC  to provide  travel
services on the Internet.  The company  provides room  reservations  for the Las
Vegas   market   through  the   Internet   addresses   www.777LasVegas.com   and
www.PlayVegas.com.  These Las Vegas sites provide hotel  reservations,  airfare,
car rentals and other services.  TravelSwitch  also operates  Speedway Travel, a
travel agency  specializing in NASCAR events and Imperial Travel, a full service
travel agency.

Las Vegas is the largest hotel  visitor  market in the country with over 120,000
rooms. The Las Vegas casinos  typically attain occupancy levels near 90 percent.
The addition of new properties  including,  Bellagio,  Mandalay Bay, Paris,  The
Venetian and the Aladdin have increased visitor volume for the market.

Advanced Gaming Technology has a twenty two percent interest in TravelSwitch.

Management  considers  new  products as  opportunities  arise.  Each  project is
evaluated  based on the market  potential  and the related cost to introduce the
product to the market.



SALES AND MARKETING

     MAX Bingo  Systems are leased to  distributors  or directly to bingo halls.
The Company's MAX Bingo Systems complement paper-based bingo play.


                                        7

<PAGE>

     MARKET  SEGMENTS.  Native  American,  charity,  military  and casino  bingo
operations  are  considered  by the  Company to be  prospective  markets for the
Company's electronic bingo systems. Currently, the Company is focusing marketing
efforts on the Native American and charity markets.


     HIGH STAKES  NATIVE  AMERICAN  BINGO.  There are  presently  over 200 bingo
operations  located on Native  American  reservations  in the United  States and
Canada. It is believed that the largest bingo games in the United States are run
on Native American  reservations.  The bingo halls located on these reservations
typically seat between 300 and 2,000 players. Bingo games are conducted three to
seven days per week, playing up to 28 bingo sessions per week.

     CHARITY  BINGO.  Charity bingo sessions are conducted on a regular basis by
parochial,  private and public schools, churches, and other organizations across
the  United  States  and  Canada.  Although  this is a major  market  source for
electronic  systems,  many of these  operations  are too small to  consider  for
permanent electronic installations. In addition, most States limit the amount of
payouts that can be made by charitable organizations.

NATIVE AMERICAN BINGO OPERATIONS

     THE INDIAN GAMING  REGULATORY ACT. IGR classifies  games that may be played
on  Native  American  land  into  three  categories.  Class  I  gaming  includes
traditional Native American social and ceremonial games and is regulated only by
the tribes.  Class II gaming includes  bingo,  pull tabs,  lotto,  punch boards,
instant bingo,  certain card games played under limited  circumstances and other
games  similar  to bingo if those  games are played at the same  location  where
bingo is played.  Class III gaming  consists of all forms of gaming that are not
Class I or Class II, such as video casino games, slot machines, most table games
such as black jack, craps and keno. Generally,  Class II gaming may be conducted
on Native American lands if the state in which the Native  American  reservation
is located  permits such gaming for any purpose by any person.  Class III gaming
may only be conducted  pursuant to a compact reached between the Native American
tribe and the state in which the tribe is located.

GOVERNMENT REGULATION

     In the United  States,  bingo is legal in the  District of Columbia and all
states,  except  Utah and  Hawaii.  In 46 of those  states,  it must be operated
either by, or in association with, a not-for-profit organization. The two states
where it may be played under private ownership for profit are Nevada and certain
parts of Maryland. In any of the 48 states where bingo and other forms of gaming
are legal,  bingo may be played on tribal lands under tribal  ordinance and with
licensing approval by the tribes without state regulation. In each of the states
where bingo is legal, the opening and operation of a game requires a license. In
some states licensing is controlled at the state level and in other states it is
controlled and issued at the local level.


                                       8


<PAGE>

  Some states have formed and maintain  formal  gaming  commissions.  In several
states,  the gaming  commissions  require that  distributors,  manufacturers and
suppliers of bingo products and equipment as well as their sales  representative
obtain  licenses.  State  regulations  may limit the amount of revenues that the
Company can generate by limiting  the number of sessions,  revenues per session,
number of locations which may be operated, or other matters.

     The state and local laws in the United States that govern the lease and use
of  gaming  products  are  widely  disparate  and  continually  changing  due to
legislative  and  administrative  actions and judicial  interpretations.  If any
changes occur in gaming laws through statutory enactment or amendment,  judicial
decision or administrative  action restricting the manufacture,  distribution or
use of some or all of the Company's products, the Company's present and proposed
business could be adversely affected.

Under IGR certain types of gaming activities are classified as Class I, Class II
or Class III. Class I gaming  includes  traditional  Native  American Social and
ceremonial  games and is regulated only by the tribes.  Class II gaming includes
bingo, pull-tabs,  lotto, punch boards, instant bingo, certain card games played
under limited  circumstances and other games similar to bingo if those games are
played at the same location where bingo is played.  Class III gaming consists of
all forms of  gaming  that are not  Class I or Class  II,  such as video  casino
games,  slot  machines,  most table  games such as black  jack,  craps and keno.
Generally,  Class II gaming may be  conducted  on Native  American  lands if the
state in which the Native  American  reservation is located  permits such gaming
for any purpose by any person.  Class III gaming, on the other hand, may only be
conducted  pursuant to a compact  reached  between the Native American tribe and
the state in which the tribe is located. The Company's business will be impacted
based upon how its products are ultimately classified.

COMPETITION

     As the company  pursues new  technology  and new sources of revenue,  it is
likely that competition  will exist in these areas of interest.  Management will
weigh the market potential of new products taking into consideration all factors
including existing or potential competition.

     The company's  investment  in  TravelSwitch.com  is subject to  substantial
competition in the global  Internet travel  industry.  Travel  reservations  and
services is among the fastest growing segments of electronic commerce.

     The Company  believes it has five main  competitors  for  electronic  bingo
systems,  all of which  have  substantially  greater  financial,  marketing  and
technological resources than the Company.


                                        9

<PAGE>


In addition,  since  electronic bingo comprises only a very small segment of the
industry,  it is  conceivable  that there will be new products and new companies
entering this area of business.  Notwithstanding this, the Company will continue
to pursue a meaningful share of the electronic bingo market.



PATENTS AND TRADEMARKS

     The Company relies on a combination of patent, trade secret,  copyright and
trademark  law,  nondisclosure  agreements  and technical  security  measures to
protect its  products.  Notwithstanding  these  safeguards,  it is possible  for
competitors of the Company to imitate its products.

     Furthermore,  others may independently develop products similar or superior
to those  developed  or planned by the  Company.  While the  Company  may obtain
patents  with  respect to  certain of its  products,  the  Company  may not have
sufficient  resources  to defend such  patents,  such patents may not afford all
necessary protection and competitors may develop equivalent or superior products
which may not infringe such patents.

RESEARCH AND MARKET DEVELOPMENT

     As a technology  company there will likely be expenditures for research and
development  in the future to bring new  products to market.  There were no such
expenditures during the years ended December 31, 2000 and 1999.

EMPLOYEES

     As of February 1, 2000,  the Company had 1 employee.  This employee was not
represented by a labor union.



















                                       10
<PAGE>



------------------------------------------------------------------------
                         ITEM 2. DESCRIPTION OF PROPERTY
------------------------------------------------------------------------

     The Company's principal executive offices are located in Las Vegas, Nevada.



------------------------------------------------------------------------
                            ITEM 3. LEGAL PROCEEDINGS
------------------------------------------------------------------------

     In addition to  ordinary  routine  litigation  incidental  to its  business
operations,  which the Company does not believe,  in the aggregate,  will have a
material  adverse  effect on the  Company,  or its  operations,  the  Company is
engaged in the following lawsuits:

On November 15, 1996, Fortunet, Inc., a Nevada corporation  ("Fortunet"),filed a
patent  infringement claim in the United States District court Southern District
of California  against the company and certain other companies which manufacture
and  distribute  electronics  bingo  systems,   claiming  that  the  defendants,
including the Company,  infringed  Fortunet's United States Patent  No.4,624,462
(the "Patent"). The Company was dismissed from this action in February of 2000.

The Company was  involved  in various  legal  matters in relation to the Branson
subsidiaries  that were  dissolved  by order of the  bankruptcy  court  when the
Company's  reorganization  plan was confirmed on June, 29, 1999.  Management and
counsel  believe that the cases have been  legally  dismissed as a result of the
company's reorganization.

In July 1997, the Company  commenced a lawsuit against G&J Production  Trust, of
Victorville,  California,  for  delinquent  payments  related to the lease of an
electronic bingo system. In January of 2000 the company received $15,000 in full
settlement of this matter.



------------------------------------------------------------------------
                       ITEM 4. SUBMISSION OF MATTERS TO A
                            VOTE OF SECURITY HOLDERS

------------------------------------------------------------------------
     There were no matters  submitted to a vote of security  holders  during the
year ended December 31, 2000.

     During the year ended December 31, 1999  shareholders were asked to vote on
the  company's  plan of  reorganization.  The  measure  passed  and the plan was
confirmed by the  Bankruptcy  Court in Las Vegas,  Nevada on June 29, 1999.  The
plan became effective on August 19, 1999.



                                            11

<PAGE>


                                     PART II

------------------------------------------------------------------------
                      ITEM 5. MARKET FOR COMMON EQUITY AND
                           RELATED STOCKHOLDER MATTERS

------------------------------------------------------------------------


     MARKET INFORMATION.  The Company's Common Stock is traded on the NASD's OTC
Bulletin  Board under the symbol  "ADVI." The following  table presents the high
and low bid  quotations  for the Common  Stock as  reported by the NASD for each
quarter during the last two years. Such prices reflect  inter-dealer  quotations
without  adjustments  for retail  markup,  markdown  or  commission,  and do not
necessarily represent actual transactions.

  Year                    Period               Low             High
  1999

                       First Quarter           .01              .12
                       Second Quarter          .01              .06
                       Third Quarter           .03              .30
                       Fourth Quarter          .03              .30
  2000

                       First Quarter           .03              .40
                       Second Quarter          .05              .25
                       Third Quarter           .05              .10
                       Fourth Quarter          .02              .06

     DIVIDENDS.  The Company has never declared or paid  dividends.  The Company
does not  anticipate  paying  dividends on its Common  Stock in the  foreseeable
future.


The  number  of  shareholders  of  record of the  Company's  Common  Stock as of
December 31, 2000 was 579.

     RECENT  SALES  OF   UNREGISTERED   SECURITIES.   There  were  no  sales  of
unregistered  securities  during the past year. 25 million shares were issued in
conjunction with the bankruptcy plan that became effective on August 19, 1999.










                                       12


<PAGE>

------------------------------------------------------------------------
                       ITEM 6. MANAGEMENT'S DISCUSSION AND
                         ANALYSIS OR PLAN OF OPERATIONS

------------------------------------------------------------------------


GENERAL

     The  company  experienced  operating  losses  of  $3,628,887  in  1998  and
$9,575,512  in  1997.  During  1998  liabilities  of the  company  significantly
exceeded  assets.  The company was in default on debt obligations and was unable
to meet the cash flow needs in the ordinary course of business.  The company had
exhausted  additional  financing sources.  The company brought in new management
for the express  purpose of guiding the company through a  reorganization  under
chapter 11 of the U. S. bankruptcy code. A petition for reorganization was filed
with the  bankruptcy  court in the District of Las Vegas on August 26, 1998. The
company filed a plan of reorganization in December 1998. The bankruptcy plan was
confirmed by the court on June 29, 1999. The plan became effective on August 19,
1999.

RESULTS OF OPERATIONS

     Completion  of the plan of  reorganization  allowed  the  Company  to begin
operations with an improved balance sheet.  However,  the extremely  competitive
market for  electronic  bingo  products  combined with  relationships  that were
damaged  as a result of past  practices  have  made it  extremely  difficult  to
develop a significant flow of revenue.

The company  experienced a loss of $564,441 for the year ended December 31, 2000
compared  to a of  $394,895  in  1999.  The 1999  results  were  bolstered  by a
settlement  of  $850,000  relating  to a  product  dispute.  Operating  expenses
decreased to $430,531 in 2000 from $512,606 in 1999.  Interest expense decreased
from  $166,519 in 1999 to $93,708 in 2000 due to a reduction  in long term debt.
The 2000 results include a loss on the earnings of an affiliate of $78,000.

The competitive environment continues to be a deterrent to building market share
in electronic bingo. The Company has placed electronic bingo systems during late
1999 and early 2000. Management hopes that the current placement of systems is a
positive sign.

The company is exploring new technology to improve revenue sources and diversify
revenue to decrease reliance on the electronic bingo markets.

In January of 2000 the  company  formed  TravelSwitch,  LLC with  several  other
investors.  TravelSwitch,  is a global Internet travel service provider.  Travel
reservations  and services is one of the fastest growing  segments of electronic
commerce.




                                       13

<PAGE>


Future  success of the  company  depends on its ability to find  investment  and
technology opportunities as well as its ability to place the existing electronic
bingo  products.  The company has  inventory of hand-held  bingo units and could
generate  high  margins  if  the  units  can  be  placed  in  revenue  producing
situations. The company will consider all options regarding the electronic bingo
systems including licensing of the system or even outright sale.

Subsequent to year end the company decided to accept offers for an outright sale
of the company.  The  reorganization  process has been completed.  The company's
balance sheet is in the best condition in years. The sales,  service and support
network needs to be expanded.  This could be  accomplished by an existing entity
that  could do so  efficiently  gaining  significant  economies  of  scale.  The
company's most valuable asset could be its intellectual property.  Additionally,
the tax  benefits  of the  company  could  prove  beneficial  to a larger  scale
operation.

INFLATION AND REGULATION

     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. This is
due in part to the  highly  capital  intensive  nature  of the  majority  of the
business of the Company,  thereby reducing the chances of competition  providing
for sales price  reductions  while  inflation in the costs are more likely to be
passed  through to the customer.  The Company's  operations are subject to state
and local gaming laws as well as various federal laws and regulations  governing
business activities with Native American Tribes. The State and local laws in the
United  States  which  govern  the lease and use of gaming  products  are widely
disparate and continually changing due to legislative and administrative actions
and  judicial  interpretations.  If any  changes  occur in gaming  laws  through
statutory  enactment or amendment,  judicial decision or  administrative  action
restricting the manufacture, distribution or use of some or all of the Company's
products,  the  Company's  present  and  proposed  business  could be  adversely
affected.  The operation of gaming on Native American reservations is subject to
the Indian  Gaming  Regulatory  Act ("IGR").  Under IGR certain  types of gaming
activities  are  classified  as Class I,  Class II or Class III.  The  Company's
business will be impacted based upon how its products are ultimately classified.
However,  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.

LIQIUDITY AND CAPITAL RESOURCES

     The  company  exhausted   financing  sources  during  1998.  The  resulting
shortfall in operating capital required the company to seek reorganization under
chapter 11 of the U. S.  Bankruptcy  Code.  The  company's  bankruptcy  plan was
confirmed by the court in June 1999. The plan became effective in August, 1999.



                                       14
<PAGE>


     The liabilities of the company were  substantially  reduced by the terms of
the plan of  reorganization.  The company  currently  has  $900,000 in long term
debt.  All other debt,  secured and  unsecured,  was  satisfied  in full through
issuance of new common  stock as a result of the  reorganization.  A note in the
amount of $1.7  million was  satisfied in full during 2000 by  surrendering  the
land secured by the note to the note holder.


The company may require additional capital to fund future projects.  There is no
assurance that such capital will be available when needed. The potential lack of
access to capital  could  inhibit  the growth of the  company.  Management  will
consider all  reasonable  forms of financing to continue  operations and to fund
future projects.


------------------------------------------------------------------------
                          ITEM 7. FINANCIAL STATEMENTS
------------------------------------------------------------------------

     The financial statements of the Company and supplementary data are included
immediately  following the signature page to this report. See Item 13 for a list
of the financial statements and financial statement schedules included.

------------------------------------------------------------------------
              ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
                     ON ACCOUNTING AND FINANCIAL DISCLOSURE

------------------------------------------------------------------------

     The Company has no changes in or disagreements  with its accountants on any
accounting and financial disclosure.




















                                       15
<PAGE>



                                    PART III

------------------------------------------------------------------------
           ITEM 9. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
------------------------------------------------------------------------

Director

Name, Age and Principal Employment for Past Five Years
------------------------------------------------------------------------

Daniel H. Scott, 45, is currently  Chairman,  President and Chief 1998 Executive
Officer of the  company.  Prior to joining the company Mr. Scott was Senior Vice
President and Chief Financial for MGM Grand Hotel Corp. of Las Vegas,  Nevada, a
casino operator,  from September 1995 until August 1997. Prior to that Mr. Scott
was Vice President and Treasurer  during a twelve-year  employment  with Caesars
Palace, a casino operator, in Las Vegas, Nevada.


Robert  L.  Hunziker,  55,  was  appointed  as a  Director  of the 1998  Company
effective  January  14,  1998.  Mr.  Hunziker  has been  employed  in  corporate
relations and corporate finance with public companies since 1992. Previously, he
was a limited partner (associate  director)of Bear, Sterns & Company,  Inc., and
he was a principal of Oppenheimer & Company, Inc.

Compliance with Section 16(a) of the Exchange Act

     Based  solely  upon a review of forms 3, 4, and 5 and  amendments  thereto,
furnished to the Company during or respecting its last fiscal year, no director,
officer,  beneficial owner of more than 10% of any class of equity securities of
the  Company  or any other  person  known to be  subject  to  Section  16 of the
Exchange  Act of 1934,  as  amended,  failed to file on a timely  basis  reports
required by Section  16(a) of the Exchange Act for the last fiscal year or prior
fiscal years.

















                                       16
<PAGE>

------------------------------------------------------------------------
                         ITEM 10. EXECUTIVE COMPENSATION
------------------------------------------------------------------------

     The following  summary  compensation  table sets forth certain  information
regarding  compensation  paid in each of the Company's  last two fiscal years to
the  Company's  Chief  Executive  Officer  and other  executive  officers  whose
salaries and bonus exceeded $100,000:


SUMMARY COMPENSATION TABLE

Name and Position                      Year        Salary


Daniel H. Scott, Chairman and Chief    2000       $225,000
   Executive officer                   1999        198,000



(1) Mr. Scott  elected to defer payment of $187,500 of this  compensation  until
2001.  Mr. Scott  receives an annual  salary of $225,000.  The actual  amount of
salary paid during 2000 was $37,500.

No bonuses were paid in 2000 or 1999.

Director Compensation

There are no  arrangements  pursuant to which  Directors are compensated for any
services provided as a Director.

Option Grants in Last Fiscal Year

     No options were granted during the year ended December 31, 1999.

Aggregate Option Exercises in Last Year, and Year-End Option Values

     No options were exercised during 1999.


Employment Agreements

On August 4, 1998 the company entered into an employment arrangement with Daniel
H. Scott for Mr. Scott to serve as President and chief executive officer.










                                       17

<PAGE>


------------------------------------------------------------------------
                ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
                              OWNERS AND MANAGEMENT

------------------------------------------------------------------------

     The following  table sets forth  information as of March 31, 1999 regarding
the beneficial  ownership of Common stock of the Company by (i) the directors of
the Company,  (ii) each executive named in the Summary  Compensation  Table that
appears under "Executive  Compensation-Summary  Compensation  Table," (iii) each
person  who was known by the  Company  to own  beneficially  more than 5% of the
outstanding  shares of Common  Stock of the  Company and (iv) all  officers  and
directors as a group.

Name and address of Beneficial Owner   Number of Shares Owned   Percent
                                                                of Class

Dr. Kenneth Landow                           2,100,000            8.4%
P O Box 46855
Las Vegas, NV 89114

Daniel H. Scott
P O Box 46855
Las Vegas, Nevada  89114                    11,909,750            48%

All officers and directors                  11,909,750            48%
As a group





------------------------------------------------------------------------
             ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
------------------------------------------------------------------------



     During the fiscal year ended December 31, 1999, the Board of Directors held
approximately 4 meetings.  The Company does not have a standing audit committee,
nominating committee or compensation committee.












                                       18
<PAGE>


------------------------------------------------------------------------
                   ITEM 13. EXHIBITS, AND REPORTS ON FORM 8-K
------------------------------------------------------------------------

(a)  The following documents are filed as part of this report.

1.   Financial Statements                                        Page

Report of Robison, Hill & Co.,
     Independent Certified Public Accountants                   F - 1

Consolidated Balance Sheets as of
     December 31, 2000 and 1999                                 F - 2

Consolidated Statements of Operations for the years ended
     December 31, 2000 and 1999                                 F - 3

Consolidated Statement of Stockholders' Deficit
     for the year ended December 31, 2000                       F - 4

Consolidated Statement of Stockholders' Deficit for the year ended
     December 31, 1999                                          F - 5

Consolidated Statements of Cash Flows for the years ended
     December 31, 1999 and 1998                                 F - 6

Notes to Financial Statements                                   F - 7

2. Financial Statement Schedules

     The following  financial statement schedules required by Regulation S-X are
included herein.

     All Schedules are omitted  because they are not  applicable or the required
information is shown in the financial statements or notes thereto.

 3. Exhibits

     The following exhibits are included as part of this report:

Exhibit
Number                                   Exhibit
2.1       (1) Articles of Amendment to Articles of Incorporation of the Company.
2.2       (1) Articles of Amendment to Articles of Incorporation of the Company.
2.3       (1) Articles of Amendment to Articles of Auto N Corporation.
2.4       (1) Articles of Amendment to Articles of MacTay Investments Co.




                                       19
<PAGE>



2.5       (1) Articles of Incorporation of MacTay Investments Co.
2.6       (1) Bylaws of the Company.
6.20      (1) Financing, Royalty and Licensing agreement with Bingo Technologies
          Corporation, dated February 9, 1998.

(1) Documents  previously filed and incorporated by reference  herein,  the same
numbered exhibit to Registrant's  Registration  Statement on Form 10-SB filed on
January 16, 1997.

(b) Sales of unregistered securities during the past year were filed pursuant to
8-K on the  following  dates:  none.  The U S Bankruptcy  Court  authorized  the
issuance of 25 million  shares on the  effective  date of the  bankruptcy  plan,
August 19, 1999.

(c)  The exhibits listed under Item 14(a)(3) are incorporated by reference.

(d) No financial  statement schedules required by this paragraph are required to
be filed as a part of this form.




































                                       20

<PAGE>

------------------------------------------------------------------------
                                   SIGNATURES

------------------------------------------------------------------------


     Pursuant  to the  requirements  of  section  13 or 15(d) of the  Securities
Exchange Act of 1934, as amended,  the Registrant has duly caused this report to
be signed on its behalf by the undersigned, hereunto duly authorized.

                        ADVANCED GAMING TECHNOLOGY, INC.


Dated: March 23, 2001                     By /s/ Daniel H. Scott
       ---------------                    ----------------------------
                                  President and Chief Executive Officer

     Pursuant to the  requirements  of the  Securities  Exchange Act of 1934, as
amended, this report has been signed below by the following persons on behalf of
the Registrant and in the capacities indicated on this 23th day of March, 2001.

Signatures                                                     Title


/s/ Daniel H. Scott,                       Chairman and Director
                                           (Principal Executive and
                                            Accounting Officer)


/s/ Robert L. Hunziker                     Director
























                                       21

<PAGE>

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

Board of Directors
Advanced Gaming Technology, Inc.

     We have audited the  accompanying  consolidated  balance sheets of Advanced
Gaming  Technology,  Inc. and subsidiaries as at December 31, 2000 and 1999, and
the consolidated statements of operations, stockholders' deficit, and cash flows
for the years then ended.  These financial  statements are the responsibility of
the Company's  Management.  Our responsibility is to express an opinion on these
financial statements based on our audits.

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

     In our opinion,  the financial statements referred to above present fairly,
in all material respects,  the financial position of Advanced Gaming Technology,
Inc. and  subsidiaries as of December 31, 2000 and 1999 and the results of their
operations,  and their cash flows for the years  then ended in  conformity  with
generally accepted accounting principles.

     The accompanying  financial statements have been prepared assuming that the
Company will continue as a going concern. As shown in the financial  statements,
the  Company  incurred  a net  loss  of  $564,441  for  2000  and  has  incurred
substantial net losses in recent years. These factors,  and the others discussed
in note 13, raise substantial doubt about the Company's ability to continue as a
going concern.  The financial statements do not include any adjustments relating
to the  recoverability and classification of recorded assets, or the amounts and
classification  of liabilities  that might be necessary in the event the Company
cannot continue in existence.

                                            Respectfully submitted,

                                            /s/ Robison, Hill & Co.
                                            Certified Public Accountants
Salt Lake City, Utah
February 1, 2001






                                       F-1

<PAGE>


                        Advanced Gaming Technology, Inc.
                           CONSOLIDATED BALANCE SHEETS
                                  December 31,
                                     ASSETS

                                                     2000        1999
                                                  ----------   ---------
Current Assets
  Cash and short term investments(note 2(e)) ...   $171,807    $440,561
  Accounts receivable, net .....................      --            --
  Inventory (note 2 (d)) .......................     20,000      20,000
  Prepaid expenses .............................      1,000       1,000
                                                  ----------   ---------
Total current assets ...........................    192,807     461,561

Property and Equipment, net (note 2(c)) ........    125,753     141,740

Other Assets (note 3) ..........................     78,178   1,906,333
                                                 ----------   ---------
Total assets ................................... $  396,738  $2,509,634
                                                 ==========  ==========


LIABILITIES AND STOCKHOLDERS' EQUITY
                                                    2000          1999
                                                 ----------    ---------
Current Liabilities
 Accounts payable and accrued liabilities......    330,798       140,510
 Current maturities of long-term debt (note 4).     13,100       104,000
                                                 ----------    ---------
 Total current liabilities ....................    343,898       244,510

Long-Term Debt (note 4) .......................    887,176     2,535,019
                                                 ----------    ---------
 Total Liabilities ............................  1,231,074     2,779,529

Commitments and Contingencies (note 10)

Stockholders' Equity (Deficit)
 Preferred stock - 10% cumulative $.10 par value;
 authorized 4,000,000 shares; issued - nil ....       --            --
 Common stock - $.005 par value; authorized
 25 million shares; issued and outstanding
 25 million in 2000 and 1999,
 respectively...................................   125,000      125,000
 Additional paid-in capital ...................       --            --
 Accumulated deficit ..........................   (959,336)    (394,895)
                                                 ----------    ---------
 Net stockholders' equity (deficit)............   (834,336)    (269,895)
                                                 ----------    ---------
Total liabilities and stockholders' equity  ...  $ 396,738   $2,509,634
                                                 ==========   ==========

   The accompanying notes are an integral part of these financial statements.
                                       F-2

<PAGE>


                        Advanced Gaming Technology, Inc.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                        For the Years Ended December 31,



                                                     2000         1999
                                                  ----------   ---------

Revenue ......................................   $   20,000   $ 789,788


Expenses

 Salaries and Wages  .........................      225,000     210,800
 Service and Support                                 51,883      22,171
 Depreciation and amortization                       77,935     120,516
 Administrative expenses                             75,713     159,119
                                                  ----------   ---------
                                                    430,531     512,606
                                                  ----------   ---------
 Operating income (loss)......................     (410,531)    277,182

Other (expense) income
 Interest......................                     (93,708)   (166,519)
 Restructuring charge ........................          --     (266,789)
 Write-down of Land held for investment ......          --     (250,466)
 Equity in earnings of Affiliate                    (78,155)       --
 Interest income                                     17,953      11,697
                                                  ----------   ---------
Net Loss .....................................    $(564,441) $ (394,895)
                                                  ==========  ==========

Net loss per common share (note 2(f)) ........    $  (0.02)   $  (0.02)
                                                  ==========  ==========
Weighted average common shares
outstanding (note 2 (f)) .....................   25,000,000   25,000,000
                                                 =========== ===========











The accompanying notes are an integral part of these financial statements.


                                       F-3
<PAGE>



                        Advanced Gaming Technology, Inc.
                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
                      For the Year Ended December 31, 2000




                                     Common Stock        Paid-in    Accumulated
                                  Shares      Amount     Capital    Deficit
                               -----------  -----------  ---------- -----------
Balance at January 1, 2000     25,000,000     $125,000   $     --   $  (394,895)


Net Loss                              --           --          --      (564,441)
                               -----------    ---------  ---------- -----------

Balance at December 31, 2000    25,000,000     $125,000  $     --   $  (959,336)
                               ===========    =========  ========== ===========





























    The accompanying notes are an integral part of these financial statements

                                       F-4

<PAGE>


                        Advanced Gaming Technology, Inc.
                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
                      For the Year Ended December 31, 1999
<TABLE>
<CAPTION>

                                                              Additional
                                     Common Stock              Paid-in    Accumulated
                                  Shares      Amount           Capital    Deficit
                               -----------  -----------      ----------   ------------
<S>                            <C>          <C>              <C>          <C>
Balance at January 1, 1999     115,330,600     $576,653     $32,044,903   $(36,577,987)

To implement fresh start
  Accounting in conjunction

  With plan of reorganization (113,580,600)    (567,903)    (32,044,903)    36,577,987

Adjusted balance at
  January 1, 1999                1,750,000        8,750           --               --

Common stock issued in
  Conjunction with plan
  Of reorganization             23,250,000      116,250           --               --

Net Loss                              --           --             --           (394,895)
                               -----------    ---------      ----------   -------------

Balance at December 31, 1999    25,000,000     $125,000       $   --      $    (394,895)
                               ===========    =========      ==========   =============
</TABLE>
























    The accompanying notes are an integral part of these financial statements


                                       F-5


<PAGE>


                        Advanced Gaming Technology, Inc.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                        For the Years Ended December 31,

                                                     2000         1999
                                                  ----------   ---------
Cash flows from operating activities:

 Net loss ......................................  $(564,441)  $(394,895)
Adjustments to reconcile net loss to net cash
 used in operating activities:
 Depreciation and amortization .................     77,935     162,517
 Loss from earnings of affiliate                     78,155        --
Reorganization charges                                  --      266,789
 Write down of property, equipment & Investment in land --      250,466
 Change in operating assets and liabilities:
 Accounts receivable ...........................        --        7,825
 Inventory .....................................        --          --
 Prepaid expenses ..............................        --        4,285
 Accounts payable and accrued liabilities.......    190,288    (127,808)
                                                  ----------   ---------
Net cash provided by(used in)operating activities  (218,063)    169,179
                                                  ----------   ---------
Cash flows from investing activities:

Intangible assets...............................      --        (94,775)
Purchase of Investments.........................      --        156,333
Purchases of property and equipment .............   (61,948)        --
Disposal of Land...............................   1,750,000         --
                                                  ----------   ---------
Net cash used in investing activities ..........  1,688,052       61,558
                                                  ----------   ---------

Cash flows from financing activities:

Proceeds from issuance of common stock .........       --       150,000
Principal payments/retirements of long-term debt (1,738,743)    (50,000)
                                                  ----------   ---------
Net cash provided by financing activities ...... (1,738,743)     100,000
                                                  ----------   ---------

Net change in cash and cash equivalents ........   (268,754)    330,737
Cash and cash equivalents at beginning of year      440,561     109,824
                                                  ----------   ---------
Cash and cash equivalents at end of year .......  $ 171,807  $  440,561
                                                  ==========   =========

Supplemental disclosure of cash flow information:

Cash paid during the year for interest .........   $ 93,708  $   20,000

         The accompanying notes are an integral part of these financial
                                  statements.

                                       F-6

<PAGE>


                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                           December 31, 2000 and 1999


NOTE 1 - HISTORY AND ORGANIZATION

     The Company was incorporated under the laws of the State of Wyoming in 1963
under the name of MacTay  Investment Co. In 1987, the name was changed to Auto N
Corporation. The Company changed its name to Advanced Gaming Technology, Inc. in
1991.  The Company's  executive  offices are located in Las Vegas,  Nevada.  The
Company is principally  engaged in the  development  and marketing of technology
for the casino and hospitality industry.

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES

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

(a)  Principles of Consolidation

     The  consolidated  financial  statements  include the  accounts of Advanced
Gaming  Technology,  Inc. and its  wholly-owned  subsidiaries,  Executive  Video
Systems, Inc., Palace Entertainment Limited,  Prisms, Inc., Pleasure World Ltd.,
Prisms (Bahamas) Ltd., and A.G.T. Acceptance Corp. All significant  intercompany
accounts and transactions have been eliminated.

(b)   Inventory

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

(c)    Property and Equipment

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

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

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

(d)  Investment - Land

     Investment in land is carried at the lower of cost or net realizable value.

                                       F-7

<PAGE>


                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                           December 31, 2000 and 1999

                                   (Continued)

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES (Continued)

(e)  Cash and Cash Equivalents

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

(f)  Net Loss per Common Share

     In  1997,  the  Financial   Accounting  Standards  Board  issued  SFAS  No.
128,"Earnings per Share" (EPS). SFAS No. 128 replaced the calculation of primary
and fully  diluted EPS with basic and  diluted  EPS.  The effect of  outstanding
common stock  equivalents are  anti-dilutive  for 2000 and 1999 and are thus not
considered.  The reconciliations of the numerators and denominators of the basic
EPS computations are as follows:

                              2000                      1999
                   ------------------------  ---------------------------
                            Number                    Number
                              Of      Loss              of       Loss
                   Loss     Shares  Per Share Loss    Shares   Per Share

Basic EPS
Loss to Common
  Shareholders   $564,441  25,000,000 $(.02) $394,895 25,000,000  $(.02)
                  =======  ==========  ====   ======= ==========   ====

(g)  Revenue

     Revenue is generated on operating  leases and is  recognized  on an accrual
basis.

(h)  Persuasiveness of Estimates

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

     Certain  reclassifications  have been made in the 1999 financial statements
to conform with the 2000 presentation.



                                       F-8

<PAGE>


                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                           December 31, 2000 and 1999
                                   (Continued)


NOTE 3 - OTHER ASSETS

                                                    2000        1999
                                                ----------- -----------
Land                                             $  --     $ 1,750,000
Investment in Travel Switch, LLC                   78,178      156,333
                                                ----------- -----------
                                                 $ 78,178  $ 1,906,333
                                                =========== ===========

     During March 2000, the Company  exchanged the land in settlement of a $1.75
million Note.


NOTE 4 - LONG-TERM DEBT

 Long-term debt consists of the following:           2000       1999
                                                 ----------- -----------
Note payable, interest at 9%, due in monthly
 Payments of $21,600 beginning March 1, 2000,
 Secured by land. The note is due in July of 2006.    --     $ 1,732,471

Note payable,  interest at 8%, due in monthly
 Payments of $7,037 beginning March
 1, 2000, Secured by various assets.
 The note is due in July of 2006.                    900,276     906,548
 The note is convertible into common stock at a
 rate of $.53 per share.
                                                 ----------- -----------
                                                   900,276    2,639,019
Less: current maturities                            13,100      104,000
                                                 ----------- -----------
 Net long-term debt                              $ 887,176  $ 2,535,019
                                                 =========== ===========

NOTE 5 - STOCK OPTIONS AND WARRANTS

     All options and warrants outstanding were eliminated in 1999 in conjunction
with the effective date of the plan of reorganization.


NOTE 6 - SEGMENTED INFORMATION

     The company  derived all revenues in 2000 and 1999 from  operations  within
the United States. The company has no assets outside of the United States.


                                       F-9
<PAGE>


                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                      December 31, 2000 and 1999(Continued)

NOTE 7 - SELECTED FINANCIAL DATA (Unaudited)

     The  following  tables  set forth  certain  unaudited  quarterly  financial
information:
                              2000 Quarters ended,
                       Mar. 31       Jun. 30       Sep. 30      Dec. 31
                      ---------     ---------     ---------    ---------
 Revenue              $  15,163     $    --      $    --       $  4,837

 Operating income(loss) (83,772)     (102,245)     (97,065)    (127,449)
 Other income (expense) (31,358)      (10,831)     (12,879)     (98,842)
                      ---------     ---------     ---------    ---------
Net Loss              $(115,130)   $ (113,076)   $ (109,944) $ (226,291)
                      =========     =========     =========    =========

                              1999 Quarters ended,
                       Mar. 31       Jun. 30       Sep. 30      Dec. 31
                      ---------     ---------     ---------    ---------
 Revenue              $  87,501     $  87,501     $ 612,536     $ 2,250

 Operating income(loss) (14,388)      (63,152)      459,118    (104,396)
 Other income (expense) (96,500)         --            --      (308,788)
 Reorganization costs
                      ---------     ---------     ---------    ---------
 Net Loss             $(110,888)   $  (63,152)   $  459,118  $ (413,679)
                      =========     =========     =========    =========


NOTE 8 - INCOME TAXES

     Deferred  taxes result from  temporary  differences  in the  recognition of
income and expenses for income tax reporting and financial  statement  reporting
purposes.  Deferred  benefits of $8,500,000  and  $8,500,000 for the years ended
December 31, 2000 and 1999 respectively, are the result of net operating losses.

     The Company has  recorded net  deferred  income  taxes in the  accompanying
consolidated balance sheets as follows:

                                                    2000         1999
                                                -----------  -----------
Future deductible temporary differences related
To reserves, accruals, and net operating losses $8,500,000   $8,500,000
Valuation allowance                             (8,500,000)  (8,500,000)
                                                -----------  -----------
Net deferred income tax                      $       --    $       --
                                                ===========  ===========

                                      F-10
<PAGE>


                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                     December 31, 2000 and 1999 (Continued)



NOTE 9 - INCOME TAXES (continued)

     As  of  December  31,  2000,   the  Company  had  a  net   operating   loss
("NOL")carryforward   for  income  tax  reporting   purposes  of   approximately
$25,500,000  available to offset future taxable income.  This net operating loss
carry-forward  expires at various  dates  between  December 31, 2008 and 2015. A
loss generated in a particular  year will expire for federal tax purposes if not
utilized  within 15 years.  Additionally,  the Internal  Revenue  Code  contains
provisions that could reduce or limit the  availability and utilization of these
NOLs if certain  ownership  changes  have  taken  place or will take  place.  In
accordance with SFAS No. 109, a valuation  allowance is provided when it is more
likely than not that all or some  portion of the  deferred tax asset will not be
realized. Due to the uncertainty with respect to the ultimate realization of the
NOLs, the Company  established a valuation allowance for the entire net deferred
income tax asset of $8,500,000  as of December 31, 1999.  Also  consistent  with
SFAS No. 109, an allocation of the income  (provision)  benefit has been made to
the loss from  continuing  operations.  The  differences  between the  effective
income  tax rate and the  federal  statutory  income  tax rate on the loss  from
continuing operations are presented below:

                                                    2000         1999
                                                -----------  -----------
Benefit at the federal statutory rate of 34%      $191,910  $  134,264
Non-deductible expenses                                           --
Utilization of net operating loss carryforward    (191,910)   (134,264)
Other                                                             --
                                                -----------  -----------
                                                $     --    $     --
                                                ===========  ===========

NOTE 10 - CONTINGENCIES

(b) In  addition to  ordinary  routine  litigation  incidental  to its  business
operations,  which the Company does not believe,  in the aggregate,  will have a
material  adverse  effect on the  Company,  or its  operations,  the Company was
engaged in the following lawsuits:

     On   November   15,   1996,   Fortunet,    Inc.,   a   Nevada   corporation
("Fortunet"),filed  a patent  infringement  claim in the United States  District
court  Southern  District of  California  against the company and certain  other
companies which manufacture and distribute  electronics bingo systems,  claiming
that the defendants,  including the Company,  infringed Fortunet's United States
Patent No.  4,624,462 (the  "Patent").  Fortunet sought to enjoin the defendants
from any further  alleged  infringement  of the Patent and is sought  actual and
enhanced  damages as well as  attorney  fees and other  costs.  This  action was
dismissed during February of 2000.

                                      F-11

<PAGE>

                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                     December 31, 2000 and 1999 (Continued)


NOTE 11 - GOING CONCERN

     The accompanying financial statements have been prepared in conformity with
generally accepted accounting principles, which contemplates continuation of the
Company as a going  concern.  However,  the  Company has  sustained  substantial
operating losses in recent years. In addition,  the Company has used substantial
amounts of working  capital in its  operations.  On August 26,  1998 the Company
filed a petition for reorganization  under chapter 11 of the U S bankruptcy code
in Las Vegas, Nevada.

     In view of these  matters,  realization of a major portion of the assets in
the  accompanying  balance sheet is dependent upon  continued  operations of the
Company which in turn is dependent  upon the Company's  ability to  successfully
complete the  reorganization  process and meet its  financing  requirements  and
succeed in its future  operations.  Management  believes that actions  presently
being taken to revise the Company's operating and financial requirements provide
the opportunity for the Company to continue as a going concern.



NOTE 12 - REORGANIZATION UNDER CHAPTER 11

     The company filed a plan of reorganization with the court in December 1998.
The plan and  disclosure  statement was approved by the court on March 22, 1999.
The company's  reorganization plan was confirmed by the bankruptcy court on June
29,1999. The plan became effective on August 19, 1999.

     Pursuant to the plan,  obligations to secured creditors were re-negotiated.
The new  amount  of  secured  debt on the  effective  date  is  $2,634,000.  All
remaining  liabilities of the company have been fully satisfied through issuance
of new common  stock.  Other secured  creditors  received 3 shares of new common
stock for each $1 of allowed secured claim.  Unsecured  creditors  received 1.88
shares of new common stock for each $1 of allowed claim.

     The company  issued 25 million  shares of new common  stock in  conjunction
with the plan. The existing common stock was cancelled. Existing shareholders of
the company on the effective  date received 1 share of new common stock for each
66 shares of common stock currently owned.  Approximately 22 million shares were
issued to  creditors,  existing  shareholders  and new  investors.  A reserve of
approximately  3  million  shares is being  maintained  for  additional  allowed
claims.



                                      F-12

<PAGE>


                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                     December 31, 2000 and 1999 (Continued)



NOTE 13 FRESH START ACCOUNTING


     On June 29, 1999 the  bankruptcy  Court  confirmed  the  Company's  plan of
reorganization.  The plan became effective on August 19, 1999. The plan provided
for the following:

     Secured debt- The secured debt was exchanged for a $1,750,000 secured note,
payable in monthly  installments  of $21,600  commencing on March 1, 2000,  with
interest  at 9% per annum and a secured  note for  $884,000,  payable in monthly
installments  of $6,200  commencing  on March 1, 2000,  with interest at 7%. The
$1,750,000 note was dismissed when the Company  returned the property secured by
the note to the  noteholder  during March of 2000.  The $884,000  note is due in
July of 2006. Other secured  creditors  received 3 shares of new common stock in
exchange for each $1 of secured debt.

     Unsecured  creditors- The holders of unsecured allowed claims received 1.88
shares of new common stock for each $1 of allowed claim.

     Common Stock - The holders of existing shares of the Company's common stock
received,  in exchange for their shares, 1 new share of common stock for each 66
shares owned.

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



















                                      F-13