<PAGE>





                 	SECURITIES AND EXCHANGE COMMISSION
	                     Washington, D. C.  20549





                              	FORM 8-K

           	Current Report Pursuant to Section 13 or 15(d) of
	                  The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 6, 1997





            	INTERNATIONAL TOURIST ENTERTAINMENT CORPORATION
	         (Exact name of registrant as specified in its charter)




    U.S. Virgin Islands		               0-21070		    	    66-0426648
----------------------------            -------           ----------
(State or other jurisdiction          (Commission      (I.R.S. Employer
     of incorporation)                File Number)    Identification No.)





                          	7030 Park Centre Drive
                        	Salt Lake City, Utah  84121
                  	(Address of principal executive offices)





Registrant's telephone number, including area code: (801) 566-9000

<PAGE>
Item 1.	Changes in Control of Registrant

	The Registrant's Plan of Reorganization was confirmed by 
the United States Bankruptcy Court on February 6, 1997.  See 
disclosure to Item 3 below.  Pursuant to the Plan of 
Reorganization, Mr. Paul M. Bluto will pay $600,000 to the 
Registrant for which he will receive approximately 55% of the 
stock ownership interest of the Registrant.  Mr. Bluto's 
payment will be from his personal funds.   The Plan of 
Reorganization also provides that Mr. Bluto underwrite a 
private placement by the Registrant for an additional $600,000 
for which investors will receive approximately 25% of the 
stock ownership interest of the Registrant.  Mr. Bluto may 
acquire additional ownership interest in the Registrant 
pursuant to the private placement.  With his stock ownership 
interest, Mr. Bluto will effectively control the Registrant.

Item 2.	Not Applicable

Item 3.	Bankruptcy or Receivership

	On February 6, 1997, an Order Confirming Plan of 
Reorganization was entered by the United States Bankruptcy 
Court, Western District of Missouri, Southern Division, in the 
matter of In Re: International Tourist Entertainment 
Corporation, Debtor and Debtor-in-Possession, Case No. 96-
60122-S-11 (Chapter 11).  

	A copy of the Debtor's Second Amended Plan of 
Reorganization Dated December 18, 1996 is filed as an exhibit 
hereto.  The Plan of Reorganization provides for the 
reorganization of the Registrant.  The terms of the 
reorganization provide for (i) the payment in full of 
priority, administrative and tax claims, (ii) the modification 
of the Boatmen's Bank claim, (iii) settlement of the Bank of 
Nova Scotia secured claim by delivery of the St. Thomas, U.S. 
Virgin Islands property of the Registrant to the bank, (iv) 
the performance of the Great Southern mortgage obligation on a 
condominium owned by the Registrant in accordance with its 
terms, (v) debentureholders may elect to receive cash in the 
amount of 12 1/2% of their claims and one-half share of the 
common stock of the Registrant for each $10.00 of their claim; 
or cash in the amount of 10% of their claims and one and one-
half shares of the common stock of the Registrant for each 
$10.00 of their claim, (vi) creditors with Allowed Unsecured 
Claims may elect to receive cash in the amount of 12 1/2% of 
their Allowed Unsecured Claims; or cash in the amount of 10% 
of their Allowed Unsecured Claims and one share of the common 
stock of the Registrant for each $10.00 in debt, (vii) 
preferred stockholders will receive .8 shares of the common 
stock of the Registrant for each share of preferred stock held 
by them, rounded to the nearest whole share, and (viii) common 
stockholders will receive 1 share of the common stock of the 
Registrant for each 10 shares of common stock held by them 
pre-petition, rounded to the nearest whole share.

<PAGE>
	The Plan of Reorganization is to be capitalized with a 
$1.2 million investment of additional cash.  The first 
installment of $600,000 will be invested by Mr. Paul M. Bluto 
for which he will receive approximately 55% of the stock 
ownership of the Registrant.  The second installment of 
$600,000 will be through a private placement underwritten by 
Mr. Paul M. Bluto, the investors in which will receive 
approximately 25% of the stock ownership of the Registrant.

	Prior to the filing of its petition in bankruptcy, the 
Registrant had 6,359,985 shares of its common stock, $.001 par 
value, issued and outstanding, and 212,613 shares of its 
preferred stock issued and outstanding.  Pursuant to the Plan 
of Reorganization and following the implementation thereof, 
the Registrant will have approximately 8,060,890 shares of its 
common stock issued and outstanding, with no other classes of 
stock issued and outstanding.  The following table illustrates 
the ownership of the Registrant's common stock if the maximum 
number of shares of its common stock is issued pursuant to the 
Plan of Reorganization.

	Paul M. Bluto					                     4,433,490	    	55%
	Private Placement investors		          2,015,222	 	   25%
	Management						                         403,045	    	 5%
	Debentureholders and Creditors		         403,045	    	 5%
	Common and Preferred Stockholders	       806,089    		10%
                                        ---------    -----
                                								8,060,890	    100%

	A copy of the Debtor's Second Amended Disclosure 
Statement in Support of Proposed Debtor's Second Amended Plan 
of Reorganization Dated December 18, 1996 is filed as an 
exhibit hereto. 

Items 4 - 6.

Item 7.	Financial Statements and Exhibits

		(a) & (b) - Not Applicable

		(c)  Exhibits.

		2.1	Debtor's Second Amended Plan of Reorganization 
Dated December 18, 1996 

		2.2	Debtor's Second Amended Disclosure Statement 
in Support of Proposed Debtor's Second Amended 
Plan of Reorganization Dated December 18, 1996 

Item 8.	Not Applicable



<PAGE>
                             	SIGNATURE

	Pursuant to the requirements of the Securities Exchange 
Act of 1934, the Registrant has duly caused this report to be 
signed on its behalf by the undersigned hereunto duly 
authorized.

                   						INTERNATIONAL TOURIST 
                         ENTERTAINMENT CORPORATION



Date:   2/25/97     				/S/ Kelvyn H. Cullimore
      ------------			   ------------------------------
						                  Kelvyn H. Cullimore, President
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SECURITIES AND EXCHANGE COMMISSION
	                     Washington, D. C.  20549

                              	FORM 8-K

           	Current Report Pursuant to Section 13 or 15(d) of
	                  The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 6, 1997

            	INTERNATIONAL TOURIST ENTERTAINMENT CORPORATION
	         (Exact name of registrant as specified in its charter)

    U.S. Virgin Islands		               0-21070		    	    66-0426648
----------------------------            -------           ----------
(State or other jurisdiction          (Commission      (I.R.S. Employer
     of incorporation)                File Number)    Identification No.)

                          	7030 Park Centre Drive
                        	Salt Lake City, Utah  84121
                  	(Address of principal executive offices)

Registrant's telephone number, including area code: (801) 566-9000
Item 1.	Changes in Control of Registrant

	The Registrant's Plan of Reorganization was confirmed by 
the United States Bankruptcy Court on February 6, 1997.  See 
disclosure to Item 3 below.  Pursuant to the Plan of 
Reorganization, Mr. Paul M. Bluto will pay $600,000 to the 
Registrant for which he will receive approximately 55% of the 
stock ownership interest of the Registrant.  Mr. Bluto's 
payment will be from his personal funds.   The Plan of 
Reorganization also provides that Mr. Bluto underwrite a 
private placement by the Registrant for an additional $600,000 
for which investors will receive approximately 25% of the 
stock ownership interest of the Registrant.  Mr. Bluto may 
acquire additional ownership interest in the Registrant 
pursuant to the private placement.  With his stock ownership 
interest, Mr. Bluto will effectively control the Registrant.

Item 2.	Not Applicable

Item 3.	Bankruptcy or Receivership

	On February 6, 1997, an Order Confirming Plan of 
Reorganization was entered by the United States Bankruptcy 
Court, Western District of Missouri, Southern Division, in the 
matter of In Re: International Tourist Entertainment 
Corporation, Debtor and Debtor-in-Possession, Case No. 96-
60122-S-11 (Chapter 11).  

	A copy of the Debtor's Second Amended Plan of 
Reorganization Dated December 18, 1996 is filed as an exhibit 
hereto.  The Plan of Reorganization provides for the 
reorganization of the Registrant.  The terms of the 
reorganization provide for (i) the payment in full of 
priority, administrative and tax claims, (ii) the modification 
of the Boatmen's Bank claim, (iii) settlement of the Bank of 
Nova Scotia secured claim by delivery of the St. Thomas, U.S. 
Virgin Islands property of the Registrant to the bank, (iv) 
the performance of the Great Southern mortgage obligation on a 
condominium owned by the Registrant in accordance with its 
terms, (v) debentureholders may elect to receive cash in the 
amount of 12 1/2% of their claims and one-half share of the 
common stock of the Registrant for each $10.00 of their claim; 
or cash in the amount of 10% of their claims and one and one-
half shares of the common stock of the Registrant for each 
$10.00 of their claim, (vi) creditors with Allowed Unsecured 
Claims may elect to receive cash in the amount of 12 1/2% of 
their Allowed Unsecured Claims; or cash in the amount of 10% 
of their Allowed Unsecured Claims and one share of the common 
stock of the Registrant for each $10.00 in debt, (vii) 
preferred stockholders will receive .8 shares of the common 
stock of the Registrant for each share of preferred stock held 
by them, rounded to the nearest whole share, and (viii) common 
stockholders will receive 1 share of the common stock of the 
Registrant for each 10 shares of common stock held by them 
pre-petition, rounded to the nearest whole share.
The Plan of Reorganization is to be capitalized with a 
$1.2 million investment of additional cash.  The first 
installment of $600,000 will be invested by Mr. Paul M. Bluto 
for which he will receive approximately 55% of the stock 
ownership of the Registrant.  The second installment of 
$600,000 will be through a private placement underwritten by 
Mr. Paul M. Bluto, the investors in which will receive 
approximately 25% of the stock ownership of the Registrant.

	Prior to the filing of its petition in bankruptcy, the 
Registrant had 6,359,985 shares of its common stock, $.001 par 
value, issued and outstanding, and 212,613 shares of its 
preferred stock issued and outstanding.  Pursuant to the Plan 
of Reorganization and following the implementation thereof, 
the Registrant will have approximately 8,060,890 shares of its 
common stock issued and outstanding, with no other classes of 
stock issued and outstanding.  The following table illustrates 
the ownership of the Registrant's common stock if the maximum 
number of shares of its common stock is issued pursuant to the 
Plan of Reorganization.

	Paul M. Bluto					                     4,433,490	    	55%
	Private Placement investors		          2,015,222	 	   25%
	Management						                         403,045	    	 5%
	Debentureholders and Creditors		         403,045	    	 5%
	Common and Preferred Stockholders	       806,089    		10%
                                        ---------    -----
                                								8,060,890	    100%

	A copy of the Debtor's Second Amended Disclosure 
Statement in Support of Proposed Debtor's Second Amended Plan 
of Reorganization Dated December 18, 1996 is filed as an 
exhibit hereto. 

Items 4 - 6.

Item 7.	Financial Statements and Exhibits

		(a) & (b) - Not Applicable

		(c)  Exhibits.

		2.1	Debtor's Second Amended Plan of Reorganization 
Dated December 18, 1996 

		2.2	Debtor's Second Amended Disclosure Statement 
in Support of Proposed Debtor's Second Amended 
Plan of Reorganization Dated December 18, 1996 

Item 8.	Not Applicable
SIGNATURE

	Pursuant to the requirements of the Securities Exchange 
Act of 1934, the Registrant has duly caused this report to be 
signed on its behalf by the undersigned hereunto duly 
authorized.

                   						INTERNATIONAL TOURIST 
                         ENTERTAINMENT CORPORATION

Date:   2/25/97     				/S/ Kelvyn H. Cullimore
      ------------			   ------------------------------
						                  Kelvyn H. Cullimore, President