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                                                                    EXHIBIT 10.7


THE WARRANTS EVIDENCED HEREBY AND THE SHARES OF COMMON STOCK ISSUABLE UPON THE
EXERCISE OF SUCH WARRANTS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "ACT") AND MAY NOT BE OFFERED OR SOLD EXCEPT (1) PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR (2) UPON THE DELIVERY
BY THE HOLDER TO THE COMPANY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY
TO COUNSEL FOR THE COMPANY, STATING THAT AN EXEMPTION FROM REGISTRATION UNDER
THE ACT IS AVAILABLE

                             MULTIMEDIA GAMES, INC.

                  WARRANT CERTIFICATE TO ACQUIRE COMMON STOCK,
                   $.01  PAR VALUE, OF MULTIMEDIA GAMES, INC.

                            VOID AFTER [INSERT DATE]

                 CERTIFICATE FOR [INSERT NUMBER OF ] WARRANT(S)

                 THIS WARRANT IS REDEEMABLE AS PROVIDED HEREIN


THIS CERTIFIES THAT


or registered assigns, has the right to purchase at any time after [INSERT NINE
MONTH DATE AFTER THE INITIAL CLOSING DATE] (the "Exercise Date") and on or
before the close of business on [INSERT FIFTH ANNIVERSARY OF THE INITIAL
CLOSING DATE], (the "Expiration Date"), one fully paid and non-assessable share
of Common Stock, $.01 par value (the "Common Stock"), of MULTIMEDIA GAMES,
INC., a Texas corporation (hereinafter called the "Company"), for each Warrant
represented hereby, upon payment therefor in cash at the rate initially of
$8.00  per share of such Common Stock (the "Exercise Price") between the
Company and Corporate Stock Transfer, Inc., as Warrant Agent (as the same may
from time to time be





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amended, the "Warrant Agreement"), subject to the adjustments, terms and
conditions herein and in the Warrant Agreement.  If at any time no other
Warrant Agent is acting for the Company, the Company shall be deemed the
Warrant Agent.

       This Warrant Certificate is issued pursuant to the terms and provisions
of the Warrant Agreement and each holder of a Warrant is entitled to the
benefits thereof. The Warrant Agreement provides, among other things, for
adjustment of the Exercise Price and the number of shares of Common Stock
issuable upon exercise of this Warrant Certificate in certain events, including
the issuance of Common Stock as a stock dividend; sub-divisions, combinations
and reclassifications of the Common Stock; the distribution to all holders of
Common Stock of evidences of indebtedness, assets (excluding cash dividends or
other distributions) or rights to subscribe other than those mentioned above;
and certain mergers, consolidations and sales of substantially all the assets
of the Company.  Upon each such adjustment, notice thereof will be given by
filing a statement thereof with the Warrant Agent and by mailing a copy of such
notice to all registered holders of Warrant Certificates.

       No fractional shares of Common Stock will be issued upon the exercise of
a Warrant; instead, the Warrant holder will be entitled to receive cash for
such fractional interest at current market value.

       The Warrants are redeemable by the Company, in whole or in part, on not
less than 30 days' prior written notice at a redemption price of $.10 per
Warrant (the "redemption price") at any time after the Exercise Date; provided
that, (i) the closing bid quotation price of the Common Stock for the 20
consecutive trading days ending not later than the seventh day prior to the day
on which the Company gives notice of redemption has been at least 150% of the
then effective Exercise Price per share, and (ii) the Warrants and the Warrant
Shares are





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subject to an effective registration statement under the Securities Act of
1933, as amended, (the "Act") at the time a notice of redemption is given and
at all times thereafter through the date fixed for redemption; provided further
that, the condition referred to in clause (ii) shall be deemed satisfied if the
holder was afforded the right and opportunity to include the Warrants and the
Warrant Shares in any such registration statement and declined to do so.  On
and after the date fixed for redemption and stated in such notice, each holder
of the Warrants called for redemption shall surrender the Warrant Certificate
evidencing such Warrants to the Company at the place designated in such notice
and shall thereupon be entitled to receive payment of the redemption price.  If
such notice of redemption shall have been duly given, and if on or before the
date fixed for redemption, funds necessary for the redemption shall be
available therefor, then, notwithstanding that the Warrant Certificates
evidencing any Warrants so called for redemption shall not have been
surrendered, all rights with respect to the Warrants so called for redemption
shall forthwith after such date cease and determine, except only the right of
the holders to receive the redemption price without interest upon surrender of
the Warrant Certificates therefor.  Holders of the Warrant shall have the right
to exercise the Warrants for the purchase of Warrant Shares until the  close of
business on the date fixed for redemption.

       Each Warrant represented hereby may be exercised by presentation and
surrender of this Certificate at the office of the Warrant Agent, with the Form
of Exercise on the reverse hereof duly executed, accompanied by payment for the
shares of Common Stock purchased and, if required, with the Form of Assignment
on the reverse hereof or a separate instrument of transfer duly executed with
signature guaranteed.  In the event that the number of Warrants so exercised is
less than the total number of Warrants represented hereby, there will be issued
to the person so exercising the Warrants, or his registered assigns, a new





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Warrant Certificate representing the number of Warrants not exercised.

       In the event of the liquidation, dissolution or winding-up of the
Company, in cases where the property to be distributed to the holders of Common
Stock of the Company consists principally of other than securities of another
entity which shall have purchased all or substantially all of the Company's
assets, the right to exercise Warrants shall terminate at the close of business
on the fourth full business day before the earliest date fixed for the payment
of any amount distributable on the Common Stock of the Company; provided that,
at least 45 days prior thereto, notice of such payment date shall have been
given by the Warrant Agent in writing to all registered holders of Warrant
Certificates.  Warrants shall terminate and shall be of no further force and
effect at such close of business on such date.

       Holders of Warrant Certificates, as such holders, shall have no voting
or any other rights of a stockholder of the Company, shall have no right, other
than the right evidenced thereby, to purchase or receive Common Stock of the
Company, shall not be entitled to subscribe to or purchase any additional or
increased stock of the Company of any class, whether now or hereafter
authorized, or obligations convertible into any class or classes of stock, or
stock of any class convertible into stock of any other class or classes, or
obligations, stock or other securities carrying warrants or rights to subscribe
to stock of the Company of any class or classes, whether now or hereafter
authorized.

       This Warrant Certificate is transferable by the registered holder in
person or by his duly authorized attorney on the books of the Company at the
office of the Warrant Agent upon surrender of this Certificate with the Form of
Assignment on the reverse hereof duly endorsed or with other appropriate
instruments of transfer duly endorsed with signature





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guaranteed and payment of any transfer taxes or other governmental charges in
connection with such transfer.

       This Warrant Certificate is exchangeable for Warrant Certificates of
different denominations at the office of the Warrant Agent upon surrender of
this Certificate, duly endorsed or with appropriate instruments of transfer.
Warrant Certificates issued upon transfers and exchanges shall be issued only
for full Warrants or an integral multiple thereof.  Warrant Certificates which
are transferred shall be canceled.

       This Warrant is not valid unless countersigned by the Warrant Agent.

       Unless sooner terminated as provided herein upon exercise or upon
liquidation, dissolution or winding-up of the Company, the purchase rights
under the Warrants shall terminate on the Expiration Date and thereafter the
Warrants represented by this Certificate shall be of no further force and
effect.

       WITNESS the facsimile signature of the proper officer of the Company and
its facsimile seal.

Dated:                
       ---------------

COUNTERSIGNED:

                                      [INSERT NAME]
                                      Warrant Agent,

                                      By:                                       
                                          --------------------------------------
                                          Authorized Officer


                                      MULTIMEDIA GAMES, INC.


                                      By:                                       
                                          --------------------------------------
                                          Authorized Officer
ATTEST:


                              
------------------------------
Secretary





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                     [FORM OF REVERSE SIDE OF CERTIFICATE]

                                FORM OF EXERCISE


   The undersigned hereby irrevocably exercises _____ Warrants to subscribe for
and purchase shares of Common Stock of the within named Company evidenced by
this Warrant Certificate and herewith makes payment of the purchase price in
full.  Kindly issue certificates for shares of Common Stock in accordance with
the instructions given below.  The certificate for the unexercised balance of
the Warrants evidenced by the within Warrants Certificate, if any, will be
registered in the name of the undersigned.


DATED:                         
      -------------------------


Instructions for Registration of stock

                                                                                
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Name (please print)

                                                                                
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Social Security or Other identifying Number;


ADDRESS:

                                                                                
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Street


                                                                                
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City,       State    and    Zip              Code





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                               FORM OF ASSIGNMENT

       (To be executed by the registered holder if such
              holder desires to transfer the Warrant Certificate)


       FOR VALUE RECEIVED, _________________ hereby sells, assigns and
transfers unto


              (Please print name and address of transferee)


this Warrant Certificate, together with all right, title and interest therein,
and does hereby irrevocably constitute and appoint _______, Attorney, to
transfer the within Warrant Certificate on the books of the within named
Company, with full power of substitution.

Dated:                                Signature:



                                      (Signature must conform in all respects to
                                      name of the holder as specified in the
                                      face of the Warrant certificate)


                                                                                
                                      ------------------------------------------
                                      Social Security or Tax I.D. No.





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