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  <TITLE> PowerHouse Technologies Group, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	March 17, 2006
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  	PowerHouse Technologies Group, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	333-5278NY
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  	94-3334052
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	555 Twin Dolphin Drive, Suite 650, Redwood City, California
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  	94065
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	650-232-2600
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  On March 17, 2006, PowerHouse Technologies Group, Inc. (the "Company") completed a private placement requiring the Company to enter into several material definitive agreements.  Please see item 3.02 below for further explanation.
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  	Item 3.02 Unregistered Sales of Equity Securities.
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  On March 17, 2006, the Company completed a private placement with certain investors of the Company&#x2019;s common stock, par value $0.0001 per share (the "Common Stock"), comprised of a total of 12,421,875 shares of Common Stock and warrants (the "Warrants") to purchase a total of 6,210,937 shares of the Company&#x2019;s Common Stock.  The securities were sold at $0.32 per unit, with each unit consisting of one share of Common Stock and a warrant to purchase 0.5 share of Common Stock.  The aggregate offering price was $3,975,000.  An entity owned and controlled by one of the members of the Company&#x2019;s Board of Directors (Alex Mashinsky) invested $400,000 as a part of this transaction for 1,250,000 shares of Common Stock and Warrants to purchase 625,000 shares of Common Stock.  The Warrants are exercisable at $0.40 per share, expire in September 2008, unless theretofore exercised, contain a call provision in favor of the Company at a price of $0.01 if the stock price should exceed $2.00 per share, and permit cashless exercise.  The private placement was effected through Common Stock and Warrant Purchase Agreements by and among the Company and the private placement investors who are named therein (the "Purchase Agreement").  The Company agreed to register under the Securities Act of 1933, as amended (the "Securities Act") the shares of Common Stock acquired in the private placement and the shares issuable upon exercise of the Warrants issued in the private placement.<br><br>The proceeds of the private placement will be used for working capital and general corporate purposes.  The Company relied on Section 4(2) of the Securities Act and Regulation D promulgated thereunder, as the basis for an exemption from registering the sale of these shares of Common Stock and Warrants under the Securities Act.<br><br>
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  	Item 9.01 Financial Statements and Exhibits.
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  99.1	Common Stock and Warrant Purchase Agreement with LB I Group, Inc. dated as of March 10, 2006.<br><br>99.2	Warrant issued to LB I Group, Inc.<br><br>99.3	Registration Rights Agreement with LB I Group, Inc. dated as of March 10, 2006.<br><br>99.4	Common Stock and Warrant Purchase Agreement with other investors.<br><br>99.5	Common Stock and Warrant Purchase Agreement dated March 17, 2006.<br><br><br>
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  	SIGNATURES
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  	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.
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  	PowerHouse Technologies Group, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	March 21, 2006
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  	&nbsp;
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  <I>
  	By:
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  <I>
  	Richard Liebman
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  	&nbsp;
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  <I>
  	Name: Richard Liebman
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  <I>
  	Title: Chief Financial Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	99.1
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  	&nbsp;
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  Common Stock and Warrant Purchase Agreement with LB I Group, Inc. dated as of March 10, 2006
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  	99.2
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  	&nbsp;
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  Warrant Issued to LB I Group, Inc.
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  	99.3
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  	&nbsp;
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  Registration Rights Agreement with LB I Group, Inc. dated as of March 10, 2006.
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  	99.4
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  	&nbsp;
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  Common Stock and Warrant Purchase Agreement with other Investors.
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  	99.5
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  	&nbsp;
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  Common Stock and Warrant Purchase Agreement dated March 17, 2006.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_11091.htm", "description": "LIVE FILING", "secsgml_size_bytes": 13678}]
metadata_filer: {"company-data": {"conformed-name": "POWERHOUSE TECHNOLOGIES GROUP INC", "cik": "0001006762", "assigned-sic": "7372", "irs-number": "943334052", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-05278-NY", "film-number": "06700323"}, "business-address": {"street1": "555 TWIN DOLPHIN DRIVE", "street2": "SUITE 650", "city": "REDWOOD CITY", "state": "CA", "zip": "94065", "phone": "6502322600"}, "mail-address": {"street1": "555 TWIN DOLPHIN DRIVE", "street2": "SUITE 650", "city": "REDWOOD CITY", "state": "CA", "zip": "94065"}, "former-company": [{"former-conformed-name": "AGATE TECHNOLOGIES INC DE", "date-changed": "19990709"}, {"former-conformed-name": "ARCA CORP", "date-changed": "19960401"}]}
text: PowerHouse Technologies Group, Inc. (Form: 8-K)
  UNITED STATES
  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 17, 2006
  PowerHouse Technologies Group, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  333-5278NY
  94-3334052
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  555 Twin Dolphin Drive, Suite 650, Redwood City, California
  94065
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  650-232-2600
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On March 17, 2006, PowerHouse Technologies Group, Inc. (the "Company") completed a private placement requiring the Company to enter into several material definitive agreements.  Please see item 3.02 below for further explanation.
  Item 3.02 Unregistered Sales of Equity Securities.
  On March 17, 2006, the Company completed a private placement with certain investors of the Company's common stock, par value $0.0001 per share (the "Common Stock"), comprised of a total of 12,421,875 shares of Common Stock and warrants (the "Warrants") to purchase a total of 6,210,937 shares of the Company's Common Stock.  The securities were sold at $0.32 per unit, with each unit consisting of one share of Common Stock and a warrant to purchase 0.5 share of Common Stock.  The aggregate offering price was $3,975,000.  An entity owned and controlled by one of the members of the Company's Board of Directors (Alex Mashinsky) invested $400,000 as a part of this transaction for 1,250,000 shares of Common Stock and Warrants to purchase 625,000 shares of Common Stock.  The Warrants are exercisable at $0.40 per share, expire in September 2008, unless theretofore exercised, contain a call provision in favor of the Company at a price of $0.01 if the stock price should exceed $2.00 per share, and permit cashless exercise.  The private placement was effected through Common Stock and Warrant Purchase Agreements by and among the Company and the private placement investors who are named therein (the "Purchase Agreement").  The Company agreed to register under the Securities Act of 1933, as amended (the "Securities Act") the shares of Common Stock acquired in the private placement and the shares issuable upon exercise of the Warrants issued in the private placement.
  The proceeds of the private placement will be used for working capital and general corporate purposes.  The Company relied on Section 4(2) of the Securities Act and Regulation D promulgated thereunder, as the basis for an exemption from registering the sale of these shares of Common Stock and Warrants under the Securities Act.
  Item 9.01 Financial Statements and Exhibits.
  99.1	Common Stock and Warrant Purchase Agreement with LB I Group, Inc. dated as of March 10, 2006.
  99.2	Warrant issued to LB I Group, Inc.
  99.3	Registration Rights Agreement with LB I Group, Inc. dated as of March 10, 2006.
  99.4	Common Stock and Warrant Purchase Agreement with other investors.
  99.5	Common Stock and Warrant Purchase Agreement dated March 17, 2006.
  Top of the Form
  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 hereunto duly authorized.
  PowerHouse Technologies Group, Inc.
  March 21, 2006
  By:
  Richard Liebman
  Name: Richard Liebman
  Title: Chief Financial Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Common Stock and Warrant Purchase Agreement with LB I Group, Inc. dated as of March 10, 2006
  99.2
  Warrant Issued to LB I Group, Inc.
  99.3
  Registration Rights Agreement with LB I Group, Inc. dated as of March 10, 2006.
  99.4
  Common Stock and Warrant Purchase Agreement with other Investors.
  99.5
  Common Stock and Warrant Purchase Agreement dated March 17, 2006.