UNITED STATES
                   SECURITIES AND EXCHANGE COMMISSION
                         Washington, DC  20549
                               FORM 10-K
(Mark One)
  [X] Annual Report Pursuant to Section 13 or 15(d) of the Securities 
      Exchange Act of 1934 [FEE REQUIRED] for the fiscal year ended  
      December 31, 1996

  [ ] Transition Report Pursuant to Section 13 or 15(d) of the 
      Securities Exchange Act of 1934 [NO FEE REQUIRED] for the 
      transition period from ____________ to ____________

                       Commission File No. 1-8250

                 WELLS-GARDNER ELECTRONICS CORPORATION
         (Exact name of registrant as specified in its charter)

            ILLINOIS                           36-1944630
 (State or other jurisdiction of   (IRS Employer Identification Number)
  incorporation or organization)  

 2701 North Kildare Avenue, Chicago, Illinois             60639
  (Address of principal executive offices)              (Zip Code)

 Registrant's telephone number, including area code:  773/252-8220

 Securities registered pursuant to Section 12(b) of the Act:

Common Stock, $1.00 par value         American Stock Exchange
   Title of each class         Name of each exchange on which registered

Securities registered pursuant to Section 12(g) of the Act:  None

  Indicate by  check   mark whether  the registrant  (1) has  filed  all
reports required to be  filed by Section 13  or 15(d) of the  Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required  to file such reports), and  (2)
has been  subject to  such filing  requirements for  the past  90  days.
YES  X     NO

  Indicate by check mark if disclosure of delinquent filers pursuant  to
Item 405 of  Regulation S-K  is not contained  herein, and  will not  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-K or any amendment to this Form 10-K.  [ ]

  As of March 20,  1997,  4,071,276 shares  of the Common Stock  of  the
registrant were outstanding.

  While it  is difficult  to determine  the number  of shares  of  stock
owned by non  affiliates, the  registrant estimates  that the  aggregate
market value of the registrant's Common Stock held by non affiliates  on
March 20, 1997  was approximately  $12,035,000.   This determination  is
based upon an  estimate that 73.9%  of the shares  are so  owned by  non
affiliates and  upon the  closing  price for  the  Common Stock  on  the
American Stock Exchange on such date.
<PAGE>
                 DOCUMENTS INCORPORATED BY REFERENCE
                                                               
Portions of Annual Report to Shareholders for fiscal year ended December
31, 1996:                       Part  I & II
Portions of  Proxy Statement  for Annual Meeting of  Shareholders to  be
held on April 22, 1997:         Part   III

                                PART I
Item 1.  BUSINESS

(a)  General Development of Business
  Wells-Gardner Electronics  Corporation  (the ``Company'') is an  ISO
9001 certified video products  corporation that designs,  manufactures
and assembles  color cathode  ray tube  (``CRT'') video  monitors. The
Company sells video monitors to leading manufacturers of coin-operated
video games,  lottery terminals,  video  slot machines,  video  walls,
leisure and  fitness, INTRANET,  media,  automotive kiosks  and  other
display applications.

  In 1996, the Company  reported its first annual  profit since  1992.
During  1996,  the  Company   continued  to  aggressively  invest   in
engineering research and development.  This investment resulted in the
introduction of 20 new products being  released in the past two  years
which accounted for over  72% of 1996  revenues.  As  a result of  the
Company's continuously improving its  quality, the Company passed  its
1996 annual  quality audit  conducted by  the ISO  9001  accreditation
agency.  The Company  continues to focus on  improving the quality  of
its products to achieve its goal  of being the highest quality  vendor
in each of  the markets it  serves.  The  Company was incorporated  in
Illinois in 1925.

(b)  Financial Information About Industry Segments
  The information required on industry segments  for the three  fiscal
years ended December  31, 1996 is  set forth in  Exhibit 13 under  the
caption ``Selected Financial Results  and Corporate Information''  and
in Note  2 of  ``Notes to  Financial  Statements,'' in  the  Company's
Annual Report to Shareholders  for the year  ended December 31,  1996,
and hereby incorporated herein by reference.

(c)  Narrative Description of Business
  (c)  (i), (ii) and (iii)

  PRODUCTS
   The  Company's primary  business is  the  design,  manufacture  and
assembly  of  electronic  components  which  consist  of  video  color
monitors and the bonding of touch sensors to open frame monitors.  The
image on  a  CRT  display  is  produced  by  magnetically  guiding  an
interruptible stream of electrons against the back of a phosphorescent
screen.  This stream of electrons  scans a series of horizontal  lines
from the  top  to the  bottom  of the  screen.   When  the  stream  of
electrons strikes the back of the screen a bright area is produced and
when is  interrupted, a  dark area  appears.   In a  medium-resolution
unit, the stream  of electrons  scans the screen  in a  series of  525
horizontal lines 30 times per second, whereas the series of light  and
dark areas produced appears as a steady coherent image to the  viewer.
High-resolution displays scan a greater number  of lines at a  greater
speed, thus  producing a  clearer  image on  the  screen.   CRT  video
products accounted for approximately 99  percent of revenues in  1996,
98 percent of revenues in 1995 and 96 percent of revenues in 1994.
<PAGE>
  The Company offers a  full line of  video  monitors, with  CRT sizes
ranging from 3'' to 33'' with horizontal scan  frequencies  from 15kHz
to 35kHz.  In addition to providing standardized products, the Company
also  customizes  electrical  and  mechanical  applications  to   meet
specific customer requirements.  The Company's line  of  color display
monitors  have  been  redesigned  over  the  past  years  for   higher
performance and lower per unit cost.  In 1996, the Company released 12
new voltage free products  which allow the products  to be plugged  in
anywhere in the world.

  The Company also optically  bonds touch screen sensors  to the  face
of the monitors to allow the user  of a CRT video monitor to  interact
with a computer program by touching a video screen.  Touch sensors are
mainly used  in  the  electronic video  gaming,  video  slot  machine,
lottery terminal and kiosk applications.

   The  Company's  sales  are  comprised  of five  main  applications.
Amusement sales accounted for 49 percent of total revenues in 1996, 46
percent in 1995 and 53 percent in 1994.  Gaming sales accounted for 17
percent  of sales in 1996, 24 percent in 1995 and 33 percent  in 1994.
Leisure and fitness  sales accounted for  13 percent of sales in 1996,
14 percent in 1995 and 6 percent in 1994.  Service sales accounted for
11 percent of sales in 1996, 8 percent in  1995 and 5 percent in 1994.
Data and display sales accounted for  10 percent of sales in 1996,  8
percent in 1995 and 3 percent in 1994.

  MANUFACTURING AND ASSEMBLY

  The Company's  production  activities  consist  primarily of  wiring
printed circuit boards,  assembling finished units  (and to a  limited
extent subassemblies), aligning, testing  and optically bonding  touch
sensors.   The  Company manufactures  a  limited range  of  electronic
components and therefore relies on outside sources for the majority of
the other  required  components.   A  limited number  of  sources  are
available for such electronic components and the other raw  materials.
Two sources  supply  the  Company  with  almost  all  of  the  chassis
subassemblies for its  two-dimensional color game  monitors.   Chassis
subassemblies are contracted off shore based on a design developed  by
the Company.   As  the Company  believes  is characteristic  of  other
manufacturers in its industry, it has  been confronted with long  lead
times and cost increases.

  MARKETING AND SALES

  The Company  sells products  throughout the  world.   The  Company's
products are sold  primarily through James  Industries, Inc., a  sales
representative  organization.     This  representation  is   currently
furnished under a Sales Representation Agreement (See Item 13. Certain
Relationships and Related  Transactions).  James  Industries, Inc.  is
headquartered in Inverness, Illinois and also utilizes the services of
regional sub-representative f irms.   The Company  maintains  its  own
internal sales staff primarily for sales of products not covered under
the Sales Representation Agreement, repair and service of its products
and to support its external sales representative organization.
<PAGE>
  (c) (iv)   The Company  is licensed on a  non-exclusive basis  under
certain patents owned by RCA  Corporation, covering the technical  and
electrical design of color  display and video  monitor chassis.   Fees
under these licenses  are based  on the  number of  units shipped  and
amounted to less than 0.3% of total 1996 revenue.  Although certain of
these licenses may expire in the  future, it has been the practice  of
the Company to renew  such licenses on  substantially the same  terms.
However, failure of  the Company  to obtain  renewal of  any of  these
licenses could  have  a materially  adverse  effect on  the  Company's
business, financial condition and results of operations.

  (c) (v)    The Company's business is generally not seasonal.

  (c) (vi)   The Company has no unique  or unusual practices  relating
to working capital items.

  (c) (vii)  The   Company's  largest  customer  accounted  for  total
revenues of 18%, 15% and 19% in 1996, 1995 and 1994, respectively.

  (c) (viii) The  Company's 1996  year-end  backlog  was approximately
32,000 monitors representing approximately 4 months sales.  It is  the
Company's experience that well over 90  percent of backlog results  in
revenue recognition.

  (c) (ix)   No material portion of the Company's business is  subject
to   re-negotiation  of  profits  or  termination   of  contracts   or
subcontracts at the election of the Government.

  (c) (x)  The  Company  encounters  intense  competition  from   many
domestic and foreign manufacturers.  Due to the nature of its business
and the absence  of reliable industry  statistics, the Company  cannot
estimate its position in  relation to its  competitors.  However,  the
Company recognizes that some  competitors have greater  financial  and
personnel resources, handle more extensive lines of products,  operate
larger facilities and price some products more competitively than  the
Company.   Although  the  Company believes  that  the  prices  of  its
products are competitive, it  endeavors to meet competition  primarily
through  the  quality  of  its  product  line,  service  and  delivery
reliability and new product innovations.

  (c) (xi) During  1996, the  Company spent  approximately  $1,701,000
for product engineering, research  and development costs, compared  to
$1,506,000 in 1995 and $1,393,000 in 1994.

  (c) (xii) Compliance with federal, state and local  provisions which
have been enacted  or adopted  regulating the  discharge of  materials
into the environment, or otherwise relating  to the protection of  the
environment, has  no material  effect upon  the capital  expenditures,
earnings and competitive position of the Company.

  (c) (xiii) At December 31, 1996, the Company employed  approximately
180 persons.  The Company believes its relationship with its employees
is satisfactory.

  (d) Export sales were  13 percent of sales  in 1996, 20  percent  in
1995 and 20 percent in 1994.
<PAGE>
Item 2.  PROPERTIES

  The Company's plant, which is  owned by the Company,  is located  at
2701 North Kildare Avenue in Chicago, Illinois.  It has  approximately
207,000 square  feet of  floor space.  Not less  than 100,000  of  the
207,000 square  feet  of  the  plant are  at  any  time  dedicated  to
production.   Offices  for  engineering, sales  and administration are
also located at  that facility.   The plant is  in good condition,  is
well maintained, and  currently has  excess production  capacity.   In
1996, the plant operated at an average 55% capacity.  The plant is not
subject  to  any  material  encumbrance.  In 1995,  the  Company  sold
approximately 63,000 square feet of excess building capacity.

Item 3.  LEGAL PROCEEDINGS

  None

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

  There were no matters submitted  to a vote of  the Company's  share-
holders during the fourth quarter of 1996.
<TABLE>
                 EXECUTIVE OFFICERS OF THE REGISTRANT

                                            
                                                         Year First
                                                        Elected As An
   Name                  Office               Age      Executive Officer
<S>                 <C>                       <C>      <C>
Anthony Spier       Chairman of the Board, 
                    President and Chief 
                    Executive Officer          53             1994

Randall S. Wells    Executive Vice President        
                    and General Manager        45             1980

George B. Toma      Vice President of
                    Finance, Chief Financial 
                    Officer and Treasurer      29             1996

John S. Pircon      Vice President of 
                    Marketing and 
                    Engineering                38             1994

Mark E. Komorowski  Vice President and 
                    General Manager of 
                    Business Services          31             1994

Kathleen E. Hoppe   Director of Management
                    Information Systems        51             1994

Larry Mahl          Director of Materials      49             1989

Eugene C. Ahner     Director of Human 
                    Resources and Secretary    60             1994
</TABLE>
Unless otherwise  indicated,  each  executive officer  has  served  in
various executive capacities with the Company for the past five years.
<PAGE>
Anthony Spier joined  the Company in  1994 as Chairman  of the  Board,
President and Chief Executive Officer.  Mr. Spier has been a  Director
of the Company  since April, 1990.   Before joining  the Company,  Mr.
Spier was President of Bruning Corporation, a manufacturer of drafting
equipment and supplies from 1989 to 1994.

Randall S. Wells joined the Company in 1971 and was elected  Executive
Vice President  and General Manager  of  the Company  in April,  1987.
Prior to this election, Mr. Wells held various manufacturing positions 
within the Company.

George B.  Toma  joined the  Company  in  1990 and  was  elected  Vice
President  of  Finance,  Chief  Financial  Officer  and  Treasurer  in
February, 1997.    Mr. Toma  was  previously elected  Chief  Financial
Officer and Treasurer in  April, 1996 and  prior thereto held  various
accounting positions  within  the  Company.    Prior  to  joining  the
Company, Mr. Toma was an auditor  with Laventhol & Horwath.  Mr.  Toma
is a certified  public accountant  as well as  a certified  management
accountant.

John S.  Pircon  joined the  Company  in  1987 and  was  elected  Vice
President of Marketing and Engineering in August, 1995. Mr. Pircon was
previously elected Director  of Engineering in  April, 1994 and  prior
thereto held various other engineering, marketing and  sales positions
within the Company.

Mark E. Komorowski  joined the Company  in 1990 and  was elected  Vice
President and General  Manager of  Business Services  in April,  1996.
Prior  to  this  election,  Mr.   Komorowski  held  the  position   of
Controller.   Prior to  joining the  Company,  Mr. Komorowski  was  an
auditor with Laventhol & Horwath.

Kathleen E. Hoppe joined the Company in 1970 and was  elected Director
of Management  Information  Systems in  August,  1994. Prior  to  this
election, Ms. Hoppe held various information systems  positions within
the Company.

Larry Mahl joined  the Company  in 1981  and was  elected Director  of
Materials in  April, 1989.   Prior  to this  election,  Mr. Mahl  held
various other engineering positions within the Company.

Eugene C. Ahner joined the Company in 1992 and was elected Director of
Human Resources in  August, 1994. Prior  to this  election, Mr.  Ahner
held the position as Personnel Manager.  Prior to joining the Company,
Mr. Ahner  was Director  of Human  Resources and  Secretary of  Pheoll
Manufacturing Company from 1985 to 1992.

                               PART II

Item 5.   MARKET FOR THE REGISTRANT'S COMMON STOCK AND RELATED
          STOCKHOLDERS MATTERS.

  The information required by  this Item is  set forth in  Exhibit  13
under the caption ``Common Share Market Price  and Dividends'',  which
information  is   contained  in   the  Company's   Annual  Report   to
Shareholders  for  the  year  ended  December  31,  1996,  and   which
information is hereby incorporated herein by reference.
<PAGE>
Item 6.  SELECTED FINANCIAL DATA

  The information required by  this Item is  set forth in  Exhibit  13
under  the  caption   ``Selected  Financial   Results  and   Corporate
Information'', which information is contained in the  Company's Annual
Report to Shareholders for the year ended December 31, 1996, and which
information is hereby incorporated herein by reference.

Item 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

  The information required by this Item  is set forth in   Exhibit  13
under the  caption  ``Management's Discussion  and  Analysis'',  which
information  is   contained  in   the  Company's   Annual  Report   to
Shareholders  for  the  year  ended  December  31,  1996,  and   which
information is hereby incorporated herein by reference.

  Because the  Company wants  to provide  shareholders  and  potential
investors with  more meaningful  and useful  information, this  Report
contains certain forward-looking statements  (as such term is  defined
in the Securities Act of 1933, as amended, and the Securities Exchange
Act  of  1934,  as  amended)   that  reflect  the  Company's   current
expectations regarding the future  results of operations,  performance
and achievements of the Company.  Such forward-looking statements  are
subject  to  the  safe  harbor  created  by  the  Private   Securities
Litigation Reform  Act  of 1995.    The Company  has  tried,  wherever
possible, to identify these forward-looking statements by using  words
such  as  ``anticipate'', ``believe'', ``estimate'', ``expect''    and
similar expressions.  These  statements reflect the Company's  current
beliefs and  are  based  on information  currently  available  to  it.
Accordingly,  these   statements  are   subject  to   certain   risks,
uncertainties and assumptions which  could cause the Company's  future
results, performance or achievements  to differ materially from  those
expressed in, or  implied by, any  of these statements.   The  Company
undertakes no  obligation  to  release publicly  the  results  of  any
revisions to any such forward-looking statements  that may be made  to
reflect events or circumstances  after the date of  this Report or  to
reflect the occurrence of unanticipated events.

Item 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

  The following financial statements together with  the notes  thereto
are set forth  in Exhibit 13,  which information is  contained in  the
Company's Annual Report  to Shareholders for  the year ended  December
31,  1996  and  which   information  hereby  incorporated  herein   by
reference.

Balance Sheets as of December 31, 1996 and 1995

Statements  of Operations for years ended  December 31, 1996, 1995 and
1994

Statements of  Shareholders' Equity for years ended December 31, 1996,
1995 and 1994      

Statements of Cash Flows for years  ended December 31, 1996, 1995  and
1994
<PAGE>
Notes to Financial Statements

Independent Auditors' Report

  Quarterly financial data for the  years ended  December 31, 1996 and
1995 are set forth  in Exhibit 13 in  Note 11 of ``Notes to  Financial
Statements'' and  are  contained in  the  Company's Annual  Report  to
Shareholders  for  the  year  ended  December  31,  1996,  and   which
information is hereby incorporated herein by reference.

Item 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON  
         ACCOUNTING AND FINANCIAL DISCLOSURE

  None

                               PART III

Item 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

  a.  Directors

  The information required by  this Item is set forth in the Company's
Proxy Statement for the Annual Meeting  of Shareholders to be held  on
April 22,  1997,  under the  captions  ``Election of  Directors''  and
``Compliance  with  Section  16(a)   of  the  Exchange   Act'',  which
information is hereby incorporated herein by reference.

  b.  Executive Officers

  Reference is made  to  ``Executive Officers of  the Registrant '' in
Part I hereof.

Item 11.  EXECUTIVE COMPENSATION

  The information required by this Item is set forth  in the Company's
Proxy Statement for the Annual Meeting  of Shareholders to be held  on
April 22, 1997,  under  the captions  ``Summary Compensation  Table'',
``Option Grants in  1996'', "Aggregated Option Exercises in  1996  and
Option Values at December  31, 1996'', ``Report of Board of  Directors
on  Compensation'' and ``Compensation Committee Interlocks and Insider
Participation'', which information  is hereby  incorporated herein  by
reference.

Item  12. SECURITY  OWNERSHIP   OF  CERTAIN  BENEFICIAL  OWNERS   AND
           MANAGEMENT

  The information required by this Item is set forth in the  Company's
Proxy Statement for the Annual Meeting of Shareholders to be  held  on
April 22, 1997, under  the caption ``Securities Beneficially  Owned by
Principal Shareholders and Management'', which information  is  hereby
incorporated herein by reference.
<PAGE>
Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

  The Information required by this Item  is set forth in the Company's
Proxy Statement for the Annual Meeting  of Shareholders to be held  on
April 22, 1997, under the caption ``Compensation Committee  Interlocks
and Insider Participation'', which information is hereby incorpo rated
herein by reference.


                               PART IV

Item 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM
8-K

  a. (1)   Financial Statements     The  information required  by this
Item is set forth in Part II, Item 8 of this Report.  The  Independent
Auditor's Report  is  set  forth  following  the  Financial  Statement
Schedule referred to under (2) below.

  (2)  Financial  Statement Schedules     The information  required by
this Item is set forth following the signature page of this Report.

  (3)  Exhibits

  The following exhibits are filed herewith:

   3.1.  Articles of  Incorporation of the Company,  as amended, filed
as Exhibit 3.1  of the Company's  Annual Report on  Form 10-K for  the
year ended December 31, 1994, and incorporated herein by reference.

   3.2. By-Laws of the  Company, as amended,  filed as Exhibit  3.2 of
the Company's Annual Report on Form  10-K for the year ended  December
31, 1994, and incorporated herein by reference.

   *10.1. Wells-Gardner Electronics  Corporation Amended  and Restated
Incentive Stock Plan, as amended, filed as Appendix A to the Company's
Proxy Statement for Annual Meeting of  Shareholders held on April  23,
1995, and incorporated herein by reference.

   10.2. Sales  Representative  Agreement  among  the  Company,  James
Industries, Inc. and James J. Roberts Jr. dated February 29, 1996, and
incorporated herein by reference.

   *10.3.   Amended  Employment  Agreement  dated February  29,  1996,
between the  Company, and  Anthony Spier  and incorporated  herein  by
reference.

   10.4.  License Agreement dated January 1, 1995, between the Company
and RCA Corporation, and incorporated herein by reference.

   *10.5.   Employment  contract  dated  June  12, 1989,  between  the
Company and Larry Mahl, filed as Exhibit 10.9 to the Company's  Annual
Report on  Form  10-K  for  the year  ended  December  31,  1989,  and
incorporated herein by reference.
<PAGE>
   *10.6.   Employment  contract dated  April  26,  1994, between  the
Company and Randall S. Wells, filed  as Exhibit 10.2 of the  Company's
Form 10-Q dated June 30, 1994, and incorporated herein by reference.

   10.7. Agreement dated July  1, 1995, between the  Company and Local
1031, I.B.E.W., AFL-CIO, and incorporated herein by reference.

   *10.9. Wells-Gardner  Electronics  Corporation  Employee 401K  Plan
dated January 1,  1990 and Amendment  1 dated February  11, 1992,  and
Amendment 2 dated  January 20,  1994, filed  as Exhibit  10.10 of  the
Company's Annual Report on Form 10-K  for the year ended December  31,
1993, and incorporated herein by reference.

   10.11.  Voting Rights Agreement dated  February 29, 1996, among the
Company, Albert S. Wells, Jr., Randall S. Wells, Anthony  Spier, Allan
Gardner, John R. Blouin, James Industries, Inc., and James J. Roberts,
Jr., individually and as Trustee of James J. Roberts, Trust, UTA dated
December 23, 1991, and incorporated herein by reference.

   *10.12.   Wells-Gardner  Electronics  Corporation 1996  Nonemployee
Director Plan, filed as Annex A  to the Company's Proxy Statement  for
the Annual Meeting of Shareholders to  be held on April 23, 1996,  and
incorporated herein by reference.

   *10.13.  Assignment of  Rights and Royalty Agreement  dated January
17, 1997, between the  Company, Randall S.  Wells and Mark  Komorowski
and incorporated herein by reference.

   13. Certain portions of the Company's Annual Report to Shareholders
for the year ended  December 31, 1996  as specified in  Part I and  II
hereof to be incorporated by reference  in this Annual Report on  Form
10-K.

   23.  Consent of KPMG Peat Marwick, LLP.

   27.  Financial Data Schedule

   *Management contract or compensatory plan or arrangement.

   b.  Reports on Form 8-K   No reports on Form 8-K  were filed during
the last quarter ended December 31, 1996.
<PAGE>
<TABLE>
                              SIGNATURES

  Pursuant to the requirements  of  Section 13  or 15(d) of  the Secu-
rities Exchange  Act of  1934, the  Registrant  has duly  caused  this
report to be signed on its  behalf by the undersigned, thereunto  duly
authorized.

                WELLS-GARDNER ELECTRONICS CORPORATION



By: ANTHONY SPIER                                    February 18, 1997
    Anthony Spier  Chairman of the Board, President
                   and Chief Executive Officer

     Pursuant to the  requirements of the  Securities Exchange Act  of
1934, this report has  been signed below by  the following persons  on
behalf of the registrant and in the capacities on the dates indicated.

  Signature                      Title                      Date
<S>                     <C>                              <C>

ANTHONY SPIER
Anthony Spier           Chairman of the Board, President
                        and Chief Executive Officer      February 18, 1997

RANDALL S. WELLS
Randall S. Wells        Director                         February 18, 1997


ALLAN GARDNER
Allan Gardner           Director                         February 18, 1997


JAMES J. ROBERTS, JR.
James J. Roberts, Jr.   Director                         February 18, 1997


WILLIAM L. DE NICOLO
William L. DeNicolo     Director                         February 18, 1997
                      

H. WAYNE HARRIS
H. Wayne Harris         Director                         February 18, 1997


JOHN R. BLOUIN
John R. Blouin          Director                         February 18, 1997


ERNEST R. WISH
Ernest R. Wish          Director                         February 18, 1997
</TABLE>
<PAGE>
                          FINANCIAL SCHEDULE

  Schedules not  included with  this  additional  financial data  have
been  omitted  because  they  are  not  applicable  or  the   required
information is shown in the financial statements or notes thereof.

<TABLE>
SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

ALLOWANCE FOR DOUBTFUL ACCOUNTS

           Balance at                                  Balance at
           Beginning     (1)        (2)        (3)        End
   Year    of Period  Additions  Deductions   Other    of Period
<S>        <C>        <C>        <C>          <C>      <C>
   1994     227,406       0         9,759       0       217,647

   1995     217,647    210,000    129,781       0       297,866

   1996     297,866     10,000     80,933   (120,000)   106,933

(1) Provision for bad debt.
(2) Accounts receivable written off against the allowance.
(3) In  1996, $120,000 of  this  provision  was  reallocated  to other 
    accruals.
</TABLE>

                            EXHIBIT INDEX

   3.1.  Articles of  Incorporation of the Company,  as amended, filed
as Exhibit 3.1  of the Company's  Annual Report on  Form 10-K for  the
year ended December 31, 1994, and incorporated herein by reference.

   3.2. By-Laws of the Company,  as amended, filed  as Exhibit 3.2  of
the Company's Annual Report on Form  10-K for the year ended  December
31, 1994, and incorporated herein by reference.

   *10.1. Wells-Gardner Electronics  Corporation Amended  and Restated
Incentive Stock Plan, as amended, filed as Appendix A to the Company's
Proxy Statement for Annual Meeting of  Shareholders held on April  23,
1995, and incorporated herein by reference.

   10.2. Sales  Representative  Agreement  among  the  Company,  James
Industries, Inc. and James J. Roberts Jr. dated February 29, 1996, and
incorporated herein by reference.

  *10.3.   Amended   Employment  Agreement  dated February  29,  1996,
between the Company,  and Anthony  Spier, and  incorporated herein  by
reference.

   10.4.  License Agreement dated January 1, 1995, between the Company
and RCA Corporation, and incorporated herein by reference.

   *10.5.   Employment  contract  dated  June  12, 1989,  between  the
Company and Larry Mahl, filed as Exhibit 10.9 to the Company's  Annual
Report on  Form  10-K  for  the year  ended  December  31,  1989,  and
incorporated herein by reference.
<PAGE>
   *10.6.   Employment  contract dated  April  26,  1994, between  the
Company and Randall S. Wells, filed  as Exhibit 10.2 of the  Company's
Form 10-Q dated June 30, 1994, and incorporated herein by reference.

   10.7. Agreement dated July  1, 1995, between the  Company and Local
1031, I.B.E.W., AFL-CIO, and incorporated herein by reference.

   *10.9. Wells-Gardner  Electronics  Corporation  Employee 401K  Plan
dated January 1, 1990,  and Amendment 1 dated  February 11, 1992,  and
Amendment 2 dated  January 20,  1994, filed  as Exhibit  10.10 of  the
Company's Annual Report on Form 10-K  for the year ended December  31,
1993, and incorporated herein by reference.

   10.11.  Voting Rights Agreement dated  February 29, 1996, among the
Company, Albert S. Wells, Jr., Randall S. Wells, Anthony  Spier, Allan
Gardner, John R. Blouin, James Industries, Inc., and James J. Roberts,
Jr., individually and as Trustee of James J. Roberts, Trust, UTA dated
December 23, 1991, and incorporated herein by reference.

   *10.12.   Wells-Gardner  Electronics  Corporation 1996  Nonemployee
Director Plan, filed as Annex A  to the Company's Proxy Statement  for
the Annual Meeting of Shareholders to  be held on April 23, 1996,  and
incorporated herein by reference.

   *10.13.  Assignment of  Rights and Royalty Agreement  dated January
17, 1997, between the  Company, Randall S.  Wells and Mark  Komorowski
and incorporated herein by reference.

   13. Certain portions of the Company's Annual Report to Shareholders
for the year ended December  31, 1996, as specified  in Part I and  II
hereof to be incorporated by reference  in this Annual Report on  Form
10-K.

   23.  Consent of KPMG Peat Marwick, LLP.

   27.  Financial Data Schedule

   *Management contract or compensatory plan or arrangement.
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