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)
                                 March 11, 1997


                           COUNTRY WORLD CASINOS, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)


                                     Nevada
                  --------------------------------------------
                 (State or other jurisdiction of incorporation)


       0-22450                                          13-3140389
------------------------                      --------------------------------
(Commission File Number)                      (IRS Employer Identification No.)


                   13576 West Utah Avenue, Lakewood, CO 80228
                -------------------------------------------------
               (Address of principal executive offices) (Zip Code)




Registrant's telephone number, including area code  (303) 912-5776
                                                     -------------







<PAGE>
                           COUNTRY WORLD CASINOS, INC.

                    INFORMATION TO BE INCLUDED IN THE REPORT

Item 3.  Bankruptcy or Receivership
         --------------------------

     On March 11,  1997,  Country  World  Casinos,  Inc.,  the  Registrant  (the
"Company")  received the Judgment of the U.S.  Bankruptcy Court for the District
of Colorado  which  included an order that the Company's  bankruptcy  case under
Chapter 11 (Case No.  95-20563  RJB) was  dismissed.  The Order of dismissal was
made pursuant to a motion by the Company, which motion was opposed by New Allied
Development   Corporation   and  its  subsidiary,   Tommyknocker   Casino  Corp.
(collectively, "NADC").

     The Company has had ongoing disputes with NADC, which disputes prompted the
initial  filing of the  bankruptcy  petition in October 1995. In January   1997,
NADC had moved to  convert  the  Company's  Chapter 11  proceeding  to Chapter 7
pursuant to which the  Company's  assets  would have been  liquidated.  NADC may
determine to appeal the Judgement and Order of the Bankruptcy Court.

     The Bankruptcy Court further ordered that it would retain  jurisdiction for
allowing the present appeal of a prior order of the Bankruptcy  Court  involving
NADC,  as described  below,  to go forward to  conclusion  in the United  States
District Court for the District of Colorado,  including any further appeals, and
to rule upon any matters  which might be  remanded  to the  Bankruptcy  Court in
connection with those rulings and to resolve the dispute  concerning a claim for
which $45,000 is being held in escrow.

     As noted in the  Company's  Report on Form  10-QSB  for the  quarter  ended
December 31, 1996,  in November  1996,  the  Bankruptcy  Court issued an opinion
determining the method and amount of NADC's claim, which was secured by a second
deed of trust on the Company's principal  property.  The Company made payment to
NADC as  provided  by the Order of the  Bankruptcy  Court.  The payment was made
without  prejudice  to the right of the  Company  to  appeal.  The  Company  has
appealed, and NADC has filed a cross-appeal. The appeal is pending.


                                      - 2 -

<PAGE>



                                   SIGNATURES


     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 thereunto duly authorized.

                                           COUNTRY WORLD CASINOS, INC.


Dated:  March 17, 1997                      By:  /S/  ROBER D. LECLERC
                                                --------------------------------
                                                Roger D. Leclerc, President














                                      - 3 -
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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)
                                 March 11, 1997

                           COUNTRY WORLD CASINOS, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                     Nevada
                  --------------------------------------------
                 (State or other jurisdiction of incorporation)

       0-22450                                          13-3140389
------------------------                      --------------------------------
(Commission File Number)                      (IRS Employer Identification No.)

                   13576 West Utah Avenue, Lakewood, CO 80228
                -------------------------------------------------
               (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code  (303) 912-5776
                                                     -------------
COUNTRY WORLD CASINOS, INC.

                    INFORMATION TO BE INCLUDED IN THE REPORT

Item 3.  Bankruptcy or Receivership
         --------------------------

     On March 11,  1997,  Country  World  Casinos,  Inc.,  the  Registrant  (the
"Company")  received the Judgment of the U.S.  Bankruptcy Court for the District
of Colorado  which  included an order that the Company's  bankruptcy  case under
Chapter 11 (Case No.  95-20563  RJB) was  dismissed.  The Order of dismissal was
made pursuant to a motion by the Company, which motion was opposed by New Allied
Development   Corporation   and  its  subsidiary,   Tommyknocker   Casino  Corp.
(collectively, "NADC").

     The Company has had ongoing disputes with NADC, which disputes prompted the
initial  filing of the  bankruptcy  petition in October 1995. In January   1997,
NADC had moved to  convert  the  Company's  Chapter 11  proceeding  to Chapter 7
pursuant to which the  Company's  assets  would have been  liquidated.  NADC may
determine to appeal the Judgement and Order of the Bankruptcy Court.

     The Bankruptcy Court further ordered that it would retain  jurisdiction for
allowing the present appeal of a prior order of the Bankruptcy  Court  involving
NADC,  as described  below,  to go forward to  conclusion  in the United  States
District Court for the District of Colorado,  including any further appeals, and
to rule upon any matters  which might be  remanded  to the  Bankruptcy  Court in
connection with those rulings and to resolve the dispute  concerning a claim for
which $45,000 is being held in escrow.

     As noted in the  Company's  Report on Form  10-QSB  for the  quarter  ended
December 31, 1996,  in November  1996,  the  Bankruptcy  Court issued an opinion
determining the method and amount of NADC's claim, which was secured by a second
deed of trust on the Company's principal  property.  The Company made payment to
NADC as  provided  by the Order of the  Bankruptcy  Court.  The payment was made
without  prejudice  to the right of the  Company  to  appeal.  The  Company  has
appealed, and NADC has filed a cross-appeal. The appeal is pending.

                                      - 2 -
SIGNATURES

     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 thereunto duly authorized.

                                           COUNTRY WORLD CASINOS, INC.

Dated:  March 17, 1997                      By:  /S/  ROBER D. LECLERC
                                                --------------------------------
                                                Roger D. Leclerc, President

                                      - 3 -