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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
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        AND EXCHANGE COMMISSION</strong></font></div>
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        D.C. 20549</strong></font></div>
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        8-K</strong></font></div>
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        REPORT</strong></font></div>
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        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 (see General Instruction A.2. below):</font></div>
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        Written communications
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        Pre-commencement communications pursuant
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        Pre-commencement communications pursuant
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        otherwise subject to the liabilities of that section, nor shall it be
        incorporated by reference in any filing under the Securities Act of 1933
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                  Release issued by the Registrant on May 2, 2006 announcing earnings
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                  for 2006.
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      <div>&#160;</div>
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        </div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*
        filed
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            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 252pt;"><font size="2">DATE:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 54.25pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">May
                2, 2006</font>&#160;</td>
              <td style="width: 36pt;">&#160;</td>
              <td><font size="2">SILVERLEAF RESORTS, INC.</font></td>
            </tr>

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            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 252pt;">&#160;</td>
              <td style="width: 36pt;">&#160;</td>
              <td>&#160;</td>
            </tr>

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            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 252pt;">&#160;</td>
              <td style="width: 36pt;"><font size="2">By:</font>&#160;</td>
              <td><u><font size="2">/S/ HARRY J. WHITE,
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              <td style="width: 252pt;">&#160;</td>
              <td style="width: 36pt;"><font size="2">Name:</font>&#160;</td>
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              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                  Financial Officer</font></div>
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        INDEX</strong></font></div>
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                  No.</font></div>
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                  of Exhibit</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                  Release issued by the Registrant on May 2, 2006 announcing earnings
                  for
                  the quarter ended March 31, 2006 and providing updated guidance
                  for 2006.
                  </font></div>
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{"company-data": {"conformed-name": "SILVERLEAF RESORTS INC", "cik": "0001033032", "assigned-sic": "6531", "irs-number": "752259890", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13003", "film-number": "06798328"}, "business-address": {"street1": "1221 RIVERBEND DR", "street2": "SUITE 120", "city": "DALLAS", "state": "TX", "zip": "75247", "phone": "2146311166"}, "mail-address": {"street1": "1221 RIVERBEND DR", "street2": "SUITE 120", "city": "DALLAS", "state": "TX", "zip": "75247"}}
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: May 2, 2006
(Date
        of earliest event reported): May 2, 2006
Silverleaf
        Resorts, Inc.
(Exact
        name of registrant as specified in its charter)
Texas
(State
        or other jurisdiction of incorporation)
1-13003
75-2259890
(Commission
                  File Number)
(IRS
                  Employer Identification
                  Number)
1221
                  River Bend Drive, Suite 120, Dallas, Texas
75247
(Address
                  of principal executive offices)
(Zip
                  Code)
214-631-1166
(Registrant's
        telephone number, including area code)
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 (see General Instruction A.2. below):
o
Written communications
        pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule
        14a-12 under the Exchange Act (17 CFR 240.14a.12)
o
Pre-commencement communications pursuant
        to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
        to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02
        Results of Operations and Financial Condition.
The
        information in this item (including Exhibit 99.1) is being furnished
        pursuant to Item 9.01 and shall not be deemed to be "filed" for purposes of
        Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or
        otherwise subject to the liabilities of that section, nor shall it be
        incorporated by reference in any filing under the Securities Act of 1933
        or the
        Exchange Act, regardless of any general incorporation language in the filing.
        On
        May 2, 2006, the Registrant issued a press release reporting earnings for
        the
        quarter ended March 31, 2006 and providing updated guidance for 2006. The
        press
        release is attached hereto as Exhibit 99.1 and is incorporated herein by
        reference.
Item
        9.01 Financial Statements and Exhibits
(c)
        Exhibits
Exhibit
                  No.
Description
                  of Exhibit
*99.1
Press
                  Release issued by the Registrant on May 2, 2006 announcing earnings
                  for
                  the quarter ended March 31, 2006 and providing updated guidance
                  for 2006.
*
        filed
        herewith
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.
DATE:
May
                2, 2006
SILVERLEAF RESORTS, INC.
By:
/S/ HARRY J. WHITE,
                JR.
Name:
Harry
                J. White, Jr.
Title:
Chief
                  Financial Officer
EXHIBIT
        INDEX
Exhibit
                  No.
Description
                  of Exhibit
*99.1
Press
                  Release issued by the Registrant on May 2, 2006 announcing earnings
                  for
                  the quarter ended March 31, 2006 and providing updated guidance
                  for 2006.