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 14, 2005
                                                  -----------------------------

                       Gaming & Entertainment Group, Inc.
-------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Utah                     000-28399                  59-1643698
-------------------------------------------------------------------------------
(State or other jurisdiction       (Commission               (IRS Employer
       of incorporation)           File Number)            Identification No.)

      6757 Spencer St., Las Vegas, NV                      89119
----------------------------------------------         --------------
  (Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code:        (702) 407-2471
                                                   ----------------------------

                                 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):

|_|   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))


                                                                          1 of 5
<PAGE>

SECTION 1 -- REGISTRANT'S BUSINESS AND OPERATIONS

ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

      On March 14, 2005,  Gaming & Entertainment  Group,  Inc. (the  "Company"),
entered into an Asset Purchase  Agreement (the  "Agreement") with Absolute Game,
Ltd.  ("Absolute"),  pursuant to which the Company has agreed to purchase all of
the assets of Absolute as detailed in Exhibit A to the Agreement.  Specifically,
the Company has  purchased  images,  components,  renderings,  casinos,  scenes,
chips, buttons, reel strips, tables, cards, sounds, music, animations,  and 2D &
3D  models of  games,  including  all game  mathematical  calculations  relating
thereto (collectively, the "Assets") developed by Absolute from its inception.

      In  consideration  for the Assets,  the Company has agreed to pay cash and
issue securities to Absolute as follows: (i) cash, in the amount of US$50,000 at
closing,  US$50,000 on the first  anniversary  of closing,  and US$50,000 on the
second  anniversary  of  closing;  provided,  however,  the  final  two (2) cash
payments are  contingent  upon the Chief  Executive  Officer of Absolute,  Peter
Bengtsson,  providing  consulting  services to the Company  through the dates on
which such  payments  are to be made;  and (ii)  securities,  in the form of (a)
250,000 shares of common stock,  and (b) a warrant to purchase 500,000 shares of
common  stock,  exercisable  at a price of $0.40 per share for a period of three
(3) years.

      The Company did not assume any of the liabilities of Absolute.

      In  addition  to the  foregoing,  the Company  entered  into a  consulting
agreement (the "Consulting Agreement") with Peter Bengtsson, the Chief Executive
Officer of Absolute.  The Consulting  Agreement is effective for a period of two
(2)  years  and   includes   Mr.   Bengtsson   and  one  (1)   additional   game
developer/graphics artist. Collectively,  Mr. Bengtsson and the third party will
be paid US$12,000 per month.

SECTION 3 -- SECURITIES AND TRADING MARKETS

ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES

      In conjunction  with the  Agreement,  the Company issued 250,000 shares of
common  stock to Peter  Bengtsson  and a warrant to purchase  500,000  shares of
common  stock,  exercisable  at $0.40 per share for a period of three (3) years.
The foregoing securities issuances have been made in reliance upon the exemption
from securities  registration  provided by Section 4(2) of the Securities Act of
1933, as amended, and Regulation S promulgated thereunder.


                                                                          2 of 5
<PAGE>


SECTION 9 -- FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

      (a) Financial statements of businesses acquired.

            Not applicable.

      (b) Pro forma financial information.

            Not applicable.

      (c)   Exhibits.

            Exhibit 10.1 Asset Purchase Agreement by and between Gaming &
                         Entertainment Group, Inc. and Absolute Game, Ltd.
                         dated March 14, 2005.

            Exhibit 10.2 Consulting Agreement by and between Gaming &
                         Entertainment Group, Inc. and Peter Bengtsson dated
                         March 14, 2005.

            Exhibit 10.3 Common Stock  Purchase  Warrant issued in favor of
                         Peter Bengtsson dated March 14, 2005.


                                                                          3 of 5
<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 hereunto duly authorized.

                            GAMING & ENTERTAINMENT GROUP, INC.
                                  (Registrant)

Date:  March 18, 2005
                            By: /s/ Gregory L. Hrncir
                                 ---------------------
                                 Gregory L. Hrncir
                            Its: President


                                                                          4 of 5
<PAGE>


                                  EXHIBIT INDEX

Exhibit No.            Description
-------------------    --------------------------------------------------------

10.1                   Asset Purchase Agreement by and between Gaming &
                       Entertainment Group, Inc. and Absolute Game, Ltd. dated
                       March 14, 2005.

10.2                   Consulting Agreement by and between Gaming &
                       Entertainment Group, Inc. and Peter Bengtsson dated March
                       14, 2005.

10.3                   Common Stock Purchase Warrant issued in favor of Peter
                       Bengtsson dated March 14, 2005.


                                                                          5 of 5
{"company-data": {"conformed-name": "GAMING & ENTERTAINMENT GROUP INC", "cik": "0001100356", "assigned-sic": "7389", "irs-number": "591643698", "state-of-incorporation": "UT", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-28399", "film-number": "05691692"}, "business-address": {"street1": "6757 SPENCER STREET", "street2": ".", "city": "LAS VEGAS", "state": "NV", "zip": "89119-3912", "phone": "702-932-2274"}, "mail-address": {"street1": "6757 SPENCER STREET", "street2": ".", "city": "LAS VEGAS", "state": "NV", "zip": "89119-3912"}, "former-company": {"former-conformed-name": "NORSTAR GROUP INC", "date-changed": "19991203"}}
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 14, 2005
                                                  -----------------------------

                       Gaming & Entertainment Group, Inc.
-------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Utah                     000-28399                  59-1643698
-------------------------------------------------------------------------------
(State or other jurisdiction       (Commission               (IRS Employer
       of incorporation)           File Number)            Identification No.)

      6757 Spencer St., Las Vegas, NV                      89119
----------------------------------------------         --------------
  (Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code:        (702) 407-2471
                                                   ----------------------------

                                 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):

|_|   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))

                                                                          1 of 5
SECTION 1 -- REGISTRANT'S BUSINESS AND OPERATIONS

ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

      On March 14, 2005,  Gaming & Entertainment  Group,  Inc. (the  "Company"),
entered into an Asset Purchase  Agreement (the  "Agreement") with Absolute Game,
Ltd.  ("Absolute"),  pursuant to which the Company has agreed to purchase all of
the assets of Absolute as detailed in Exhibit A to the Agreement.  Specifically,
the Company has  purchased  images,  components,  renderings,  casinos,  scenes,
chips, buttons, reel strips, tables, cards, sounds, music, animations,  and 2D &
3D  models of  games,  including  all game  mathematical  calculations  relating
thereto (collectively, the "Assets") developed by Absolute from its inception.

      In  consideration  for the Assets,  the Company has agreed to pay cash and
issue securities to Absolute as follows: (i) cash, in the amount of US$50,000 at
closing,  US$50,000 on the first  anniversary  of closing,  and US$50,000 on the
second  anniversary  of  closing;  provided,  however,  the  final  two (2) cash
payments are  contingent  upon the Chief  Executive  Officer of Absolute,  Peter
Bengtsson,  providing  consulting  services to the Company  through the dates on
which such  payments  are to be made;  and (ii)  securities,  in the form of (a)
250,000 shares of common stock,  and (b) a warrant to purchase 500,000 shares of
common  stock,  exercisable  at a price of $0.40 per share for a period of three
(3) years.

      The Company did not assume any of the liabilities of Absolute.

      In  addition  to the  foregoing,  the Company  entered  into a  consulting
agreement (the "Consulting Agreement") with Peter Bengtsson, the Chief Executive
Officer of Absolute.  The Consulting  Agreement is effective for a period of two
(2)  years  and   includes   Mr.   Bengtsson   and  one  (1)   additional   game
developer/graphics artist. Collectively,  Mr. Bengtsson and the third party will
be paid US$12,000 per month.

SECTION 3 -- SECURITIES AND TRADING MARKETS

ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES

      In conjunction  with the  Agreement,  the Company issued 250,000 shares of
common  stock to Peter  Bengtsson  and a warrant to purchase  500,000  shares of
common  stock,  exercisable  at $0.40 per share for a period of three (3) years.
The foregoing securities issuances have been made in reliance upon the exemption
from securities  registration  provided by Section 4(2) of the Securities Act of
1933, as amended, and Regulation S promulgated thereunder.

                                                                          2 of 5
SECTION 9 -- FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

      (a) Financial statements of businesses acquired.

            Not applicable.

      (b) Pro forma financial information.

            Not applicable.

      (c)   Exhibits.

            Exhibit 10.1 Asset Purchase Agreement by and between Gaming &
                         Entertainment Group, Inc. and Absolute Game, Ltd.
                         dated March 14, 2005.

            Exhibit 10.2 Consulting Agreement by and between Gaming &
                         Entertainment Group, Inc. and Peter Bengtsson dated
                         March 14, 2005.

            Exhibit 10.3 Common Stock  Purchase  Warrant issued in favor of
                         Peter Bengtsson dated March 14, 2005.

                                                                          3 of 5
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.

                            GAMING & ENTERTAINMENT GROUP, INC.
                                  (Registrant)

Date:  March 18, 2005
                            By: /s/ Gregory L. Hrncir
                                 ---------------------
                                 Gregory L. Hrncir
                            Its: President

                                                                          4 of 5
EXHIBIT INDEX

Exhibit No.            Description
-------------------    --------------------------------------------------------

10.1                   Asset Purchase Agreement by and between Gaming &
                       Entertainment Group, Inc. and Absolute Game, Ltd. dated
                       March 14, 2005.

10.2                   Consulting Agreement by and between Gaming &
                       Entertainment Group, Inc. and Peter Bengtsson dated March
                       14, 2005.

10.3                   Common Stock Purchase Warrant issued in favor of Peter
                       Bengtsson dated March 14, 2005.

                                                                          5 of 5