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) August 12, 1996
                                                 July 16, 1996


             SPINTEK GAMING TECHNOLOGIES, INC.
                              
                              
                              
                         California
       (State or other jurisdiction of incorporation)
                              
                              
                              
          O-27226                                       33-0134823
       (Commission                                   (IRS Employer
        File Number)                                 Identification No.)
                              
                              
901 B Grier Drive  , Las Vegas, Nevada                       89119
(Address of principal executive offices)                  (Zip Code)
                              
                              
                              
Registrant's telephone number, including area code (702)263-3660
                              
Suite 609, Tallan Building, Two Union Square, Chattanooga, TN 37402
(Former name or former address if changed since last report)
                              
                              
                              
                              
                              
                               
                               
                               
Item 5.  Other events

     On July 16, 1996, Spintek Gaming Technologies, Inc. (the
"Company") completed the issuance of its 4% Convertible Debenture due
December 31, 1997 in the aggregate amount of $7,143,000 (the
"Debenture").  This Debenture was issued to RBB Bank Aktiengesellschaft 
("RBB") offshore investors pursuant to Regulation S promulgated under
the Act at a discount of 30%.  The net proceeds to the Company after the
discount and before expenses was $5,000,000.

     The Debenture, plus any accrued interest, automatically converts
into Common Stock of the Company on December 31, 1997; or, at any time
after August 30, 1996 at the option of the holder.  The conversion price
ranges from a minimum of $1 to a maximum of $3 per share, subject to
certain conditions described in detail in the Debenture.  In the event
the Company fails to become listed on the NASDAQ National Market by
November 13, 1996; or, if the Company's actual profits are not at least
eighty percent ( 80%) of the projected quarterly profits for either of
the quarters ending September 30, 1996 or December 31, 1996, the minimum
conversion price of $1 shall terminate and shall no longer be included
as part of the terms of the Debenture thereby allowing the conversion
price to fall below $1 per share.  In addition, in the event the five
day average bid price for the Company's Common Stock does not reach $3
per share within the ninety (90) days ended October 14, 1996, the
Company must effect a reverse stock split sufficient to raise the bid
price to $3.25 per share based upon the five day average bid price.

     Expenses incurred in conjunction with the placement of the
Debenture totaled $600,000, which consisted solely of commissions.  In
addition, the Company issued to Third World Investments, Ltd.  Warrants
to acquire 250,000 shares of Common Stock of the Company at an exercise
price that ranges from a minimum of $1 to a maximum of $2 per share,
described in detail in the Warrant Agreement. The Warrants may be
exercised in whole at any time or in part from time to time, commencing
October 1, 1996 and ending with the close of business on September 30,
2001.  The Common Stock issued upon exercise of the Warrant or upon
conversion of the Debenture is subject to a Registration Rights
Agreement.

     Copies of the Debenture and related documents are attached
herewith as Exhibits as set forth in the table below:

     Exhibits.
          1.   REGULATION S SECURITIES SUBSCRIPTION AGREEMENT
          2.   MODIFICATION AGREEMENT
          3.   ATTORNEY'S OPINION
          4.   ESCROW AGREEMENT
          5.   IRREVOCABLE INSTRUCTIONS TO COMPANY AS
                TRANSFER AGENT














                         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.



     Dated:    August 12, 1996


                           SPINTEK GAMING TECHNOLOGIES, INC.

                              By:   /s/Robert E. Huggins
                                        Robert E. Huggins
                              Its: Chief Financial Officer
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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) August 12, 1996
                                                 July 16, 1996

             SPINTEK GAMING TECHNOLOGIES, INC.
                              
                              
                              
                         California
       (State or other jurisdiction of incorporation)
                              
                              
                              
          O-27226                                       33-0134823
       (Commission                                   (IRS Employer
        File Number)                                 Identification No.)
                              
                              
901 B Grier Drive  , Las Vegas, Nevada                       89119
(Address of principal executive offices)                  (Zip Code)
                              
                              
                              
Registrant's telephone number, including area code (702)263-3660
                              
Suite 609, Tallan Building, Two Union Square, Chattanooga, TN 37402
(Former name or former address if changed since last report)
                              
                              
                              
                              
                              
                               
                               
                               
Item 5.  Other events

     On July 16, 1996, Spintek Gaming Technologies, Inc. (the
"Company") completed the issuance of its 4% Convertible Debenture due
December 31, 1997 in the aggregate amount of $7,143,000 (the
"Debenture").  This Debenture was issued to RBB Bank Aktiengesellschaft 
("RBB") offshore investors pursuant to Regulation S promulgated under
the Act at a discount of 30%.  The net proceeds to the Company after the
discount and before expenses was $5,000,000.

     The Debenture, plus any accrued interest, automatically converts
into Common Stock of the Company on December 31, 1997; or, at any time
after August 30, 1996 at the option of the holder.  The conversion price
ranges from a minimum of $1 to a maximum of $3 per share, subject to
certain conditions described in detail in the Debenture.  In the event
the Company fails to become listed on the NASDAQ National Market by
November 13, 1996; or, if the Company's actual profits are not at least
eighty percent ( 80%) of the projected quarterly profits for either of
the quarters ending September 30, 1996 or December 31, 1996, the minimum
conversion price of $1 shall terminate and shall no longer be included
as part of the terms of the Debenture thereby allowing the conversion
price to fall below $1 per share.  In addition, in the event the five
day average bid price for the Company's Common Stock does not reach $3
per share within the ninety (90) days ended October 14, 1996, the
Company must effect a reverse stock split sufficient to raise the bid
price to $3.25 per share based upon the five day average bid price.

     Expenses incurred in conjunction with the placement of the
Debenture totaled $600,000, which consisted solely of commissions.  In
addition, the Company issued to Third World Investments, Ltd.  Warrants
to acquire 250,000 shares of Common Stock of the Company at an exercise
price that ranges from a minimum of $1 to a maximum of $2 per share,
described in detail in the Warrant Agreement. The Warrants may be
exercised in whole at any time or in part from time to time, commencing
October 1, 1996 and ending with the close of business on September 30,
2001.  The Common Stock issued upon exercise of the Warrant or upon
conversion of the Debenture is subject to a Registration Rights
Agreement.

     Copies of the Debenture and related documents are attached
herewith as Exhibits as set forth in the table below:

     Exhibits.
          1.   REGULATION S SECURITIES SUBSCRIPTION AGREEMENT
          2.   MODIFICATION AGREEMENT
          3.   ATTORNEY'S OPINION
          4.   ESCROW AGREEMENT
          5.   IRREVOCABLE INSTRUCTIONS TO COMPANY AS
                TRANSFER AGENT

                         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.

     Dated:    August 12, 1996

                           SPINTEK GAMING TECHNOLOGIES, INC.

                              By:   /s/Robert E. Huggins
                                        Robert E. Huggins
                              Its: Chief Financial Officer