SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K



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





        Date of Report (Date of earliest event reported): August 31, 1998


                          Powerhouse Technologies, Inc.
             (Exact name of registrant as specified in its charter)



 Delaware                         0-19322                    81-0470853
 (State or other                  (Commission                (I.R.S. Employer
 jurisdiction                     File Number)               Identification No.)
 of incorporation)



            115 Perimeter Center Place, Suite 911, Atlanta, GA 30346
              (Address of principal executive offices and zip code)


                                 (770) 481-1800
              (Registrant's telephone number, including area code)

                                       1
<PAGE>


Item 5.  Other Events
         ------------

     Pursuant to a letter  agreement  with U.S. Bank National  Association,  fka
First Bank National Association, the Company's existing credit facility has been
extended  through October 31, 1998. The Company  previously  announced on August
19,  1998,  that it has  received a $100 Million  credit  facility  arranged and
syndicated by Lehman  Brothers,  Inc.,  the closing of which is contingent  upon
completion of definitive agreements.




Item 7.  Financial Statements and Exhibits
         ---------------------------------

      (c)  Exhibits.

             Exhibit 99.1       Letter Amendment dated August 19, 1998





                                       2
<PAGE>



                                                        
                                   SIGNATURES

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



                                    POWERHOUSE TECHNOLOGIES, INC.



Date:  September 2, 1998            /s/ Janet M. Bjork
                                    -------------------
                                      JANET M. BJORK
                                    Assistant Secretary
                                    (authorized to sign on behalf of Registrant)



                                       3
<PAGE>


                                  EXHIBIT INDEX


Exhibit                                                                    Page
Number   Description                                                      Number
------   -----------                                                      ------


99.1     Letter Amendment between Powerhouse Technologies, Inc.              5
         and U.S. Bank National Association dated August 19, 1998


                                       4
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 2949}]
{"company-data": {"conformed-name": "POWERHOUSE TECHNOLOGIES INC /DE", "cik": "0000875459", "assigned-sic": "3578", "irs-number": "810470853", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19322", "film-number": "98703853"}, "business-address": {"street1": "115 PERIMETER CENTER PL", "street2": "SUITE 911", "city": "ATLANTA", "state": "GA", "zip": "30346", "phone": "7704811800"}, "mail-address": {"street1": "115 PERIMETER CENTER PL", "street2": "SUITE 911", "city": "ATLANTA", "state": "GA", "zip": "30346"}, "former-company": {"former-conformed-name": "VIDEO LOTTERY TECHNOLOGIES INC/DE", "date-changed": "19930328"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

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

        Date of Report (Date of earliest event reported): August 31, 1998

                          Powerhouse Technologies, Inc.
             (Exact name of registrant as specified in its charter)

 Delaware                         0-19322                    81-0470853
 (State or other                  (Commission                (I.R.S. Employer
 jurisdiction                     File Number)               Identification No.)
 of incorporation)

            115 Perimeter Center Place, Suite 911, Atlanta, GA 30346
              (Address of principal executive offices and zip code)

                                 (770) 481-1800
              (Registrant's telephone number, including area code)

                                       1
Item 5.  Other Events
         ------------

     Pursuant to a letter  agreement  with U.S. Bank National  Association,  fka
First Bank National Association, the Company's existing credit facility has been
extended  through October 31, 1998. The Company  previously  announced on August
19,  1998,  that it has  received a $100 Million  credit  facility  arranged and
syndicated by Lehman  Brothers,  Inc.,  the closing of which is contingent  upon
completion of definitive agreements.

Item 7.  Financial Statements and Exhibits
         ---------------------------------

      (c)  Exhibits.

             Exhibit 99.1       Letter Amendment dated August 19, 1998

                                       2
SIGNATURES

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

                                    POWERHOUSE TECHNOLOGIES, INC.

Date:  September 2, 1998            /s/ Janet M. Bjork
                                    -------------------
                                      JANET M. BJORK
                                    Assistant Secretary
                                    (authorized to sign on behalf of Registrant)

                                       3
EXHIBIT INDEX

Exhibit                                                                    Page
Number   Description                                                      Number
------   -----------                                                      ------

99.1     Letter Amendment between Powerhouse Technologies, Inc.              5
         and U.S. Bank National Association dated August 19, 1998

                                       4