<PAGE>   1


================================================================================

      AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH 8, 2001
                         REGISTRATION NO. 333-_________

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM S-8
             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                    INNOVATIVE GAMING CORPORATION OF AMERICA
             ------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

                                    MINNESOTA
                            ------------------------
                            (State of incorporation)

                                   41-1713864
                        ---------------------------------
                        (IRS Employer Identification No.)

                              4725 AIRCENTER CIRCLE
                               RENO, NEVADA 89502
                    ----------------------------------------
                    (Address of principal executive offices)

                     1992 STOCK OPTION AND COMPENSATION PLAN
                     ---------------------------------------
                              (Full title of plan)

                                ROLAND M. THOMAS
                    INNOVATIVE GAMING CORPORATION OF AMERICA
                            333 ORVILLE WRIGHT COURT
                             LAS VEGAS, NEVADA 89119
                     ---------------------------------------
                     (Name and address of agent for service)

                                 (702) 614-7199
          -------------------------------------------------------------
          (Telephone number, including area code, of agent for service)

                                   Copies to:

                             DOUGLAS T. HOLOD, ESQ.
                            PAUL D. CHESTOVICH, ESQ.
                       MASLON EDELMAN BORMAN & BRAND, LLP
                             3300 WELLS FARGO CENTER
                           MINNEAPOLIS, MN 55402-4140
                                 (612) 672-8200

                         CALCULATION OF REGISTRATION FEE

<TABLE>
<CAPTION>
===================================================================================================================
TITLE OF                       PROPOSED MAXIMUM                                 PROPOSED MAXIMUM
OF SECURITIES TO BE            AMOUNT TO BE              OFFERING PRICE         AGGREGATE
REGISTERED                     REGISTERED (1)            PER SHARE (1)          OFFERING PRICE (1)          FEE
-------------------------------------------------------------------------------------------------------------------
<S>                                <C>                        <C>                  <C>                    <C>
Common Stock ($0.01 par
value per share)               1,150,000 Shares               $0.71                $826,562.50            $206.64
===================================================================================================================
</TABLE>

(1)      Estimated solely for purposes of computing the registration fee in
         accordance with Rule 457(h) and based upon the average of the high and
         low prices of the Common Stock on the Nasdaq SmallCap Market System on
         March 2, 2001.


================================================================================
<PAGE>   2


                                     PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF DOCUMENTS BY REFERENCE.

         The following documents filed by the Registrant with the Securities and
Exchange Commission are incorporated herein by reference and made a part hereof:

         (a)      The Registrant's Annual Report on Form 10-K for the fiscal
                  year ended December 31, 1999, filed with the SEC on March 30,
                  2000 and amended by Form 10-K/A filed with the SEC on May 1,
                  2000, and August 8, 2000;

         (b)      The Registrant's Quarterly Reports on Form 10-Q and 10-Q/A for
                  the quarters ended March 31, 2000, June 30, 2000, and
                  September 30, 2000; such reports filed on May 15, 2000 (and
                  amended by the filing of August 10, 2000), August 14, 2000,
                  and November 14, 2000, respectively;

         (c)      The Registrant's Current Reports on Form 8-K and 8-K/A as
                  filed with the SEC on May 12, 2000, May 19, 2000, August 18,
                  2000, September 22, 2000, and October 16, 2000;

         (d)      The Registrant's Registration Statement on Form S-8 filed on
                  March 8, 2001; and

         (e)      The description of the Company's Common Stock included under
                  the caption "Securities to be Registered" in the Company's
                  registration statement on Form 8-A, as filed on September 27,
                  1993, including any amendments or reports filed for the
                  purpose of updating such description.

         All documents subsequently filed by the Registrant pursuant to Sections
13(a), 13(c), 14, and 15(d) of the Securities Exchange Act of 1934, prior to the
filing of a post-effective amendment indicating that all securities offered have
been sold or deregistering all securities then remaining unsold, shall be deemed
to be incorporated by reference in this Registration Statement and to be part
hereof from the date of filing of such documents.

ITEM 6.  INDEMNIFICATION OF OFFICERS AND DIRECTORS.

         The Company is governed by Minnesota Statutes Chapter 302A. Minnesota
Statutes Section 302A.521 provides that a corporation shall indemnify any person
made or threatened to be made a party to any proceeding by reason of the former
or present official capacity of such person against judgments, penalties, and
fines, including without limitation excise taxes assessed against such person
with respect to an employee-benefit plan, settlements, and reasonable expenses,
including attorneys' fees and disbursements, incurred by such person in
connection with the proceeding, if, with respect to the acts or omissions of
such person complained of in the proceeding, such person has not been
indemnified by another organization or employee-benefit plan for the same
expenses with respect to the same acts or omissions; acted in good faith;
received no improper personal benefit and Section 302A.255, if applicable, has
been satisfied; in the case of a criminal proceeding, had no reasonable cause to
believe the conduct was unlawful; and in the case of acts or omissions by
persons in their official capacity for the corporation, reasonably believed that
the conduct was in the best interests of the corporation, or in the case of acts
or omissions by persons in their capacity for other organizations, reasonably
believed that the conduct was not opposed to the best interests of the
corporation.



                                       2

<PAGE>   3


ITEM 8.  EXHIBITS.

         4(a).    Articles of Incorporation of the Company as Amended
                  (incorporated herein by reference as Exhibit 3.1 to the
                  Registrant's Registration Statement on Form SB-2 (File No.
                  33-61492C));

         4(b).    Bylaws of the Company (incorporated herein by reference as
                  Exhibit 3.2 to the Registrant's Registration Statement on Form
                  SB-2 (File No. 33-61492C);

         5.       Opinion of Maslon Edelman Borman & Brand, LLP;

         23(a).   Consent of Kafoury, Armstrong & Co.;

         23(b).   Consent of Maslon Edelman Borman & Brand, LLP (contained in
                  Exhibit 5); and

         24.      Power of Attorney (contained on page II-5).


ITEM 9.  UNDERTAKINGS.

         The undersigned Registrant hereby undertakes:

         (1)      To file, during any period in which offers or sales are being
                  made, a post-effective amendment to this registration
                  statement;

                  (i)      to include any prospectus required by Section
                           10(a)(3) of the Securities Act of 1933;

                  (ii)     to reflect in the prospectus any facts or events
                           arising after the effective date of the registration
                           statement (or the most recent post-effective
                           amendment thereof) which, individually or in the
                           aggregate, represent a fundamental change in the
                           information set forth in the registration statement.
                           Notwithstanding the foregoing, any increase or
                           decrease in volume of securities offered (if the
                           total dollar value of securities offered would not
                           exceed that which was registered) and any deviation
                           from the low or high and of the estimated maximum
                           offering range may be reflected in the form of
                           prospectus filed with the Commission pursuant to Rule
                           424(b) if, in the aggregate, the changes in volume
                           and price represent no more than 20 percent change in
                           the maximum aggregate offering price set forth in the
                           "Calculation of Registration Fee" table in the
                           effective registration statement; and

                  (iii)    to include any material information with respect to
                           the plan of distribution not previously disclosed in
                           the registration statement or any material change to
                           such information in the registration statement;

         (2)      That, for the purpose of determining any liability under the
                  Securities Act of 1933, each such post-effective amendment
                  shall be deemed to be a new registration statement relating to
                  the securities offered therein, and the offering of such
                  securities at that time shall be deemed to be the initial bona
                  fide offering thereof; and

         (3)      To remove from registration by means of a post-effective
                  amendment any of the securities being registered which remain
                  unsold at the termination of the offering.



                                       3
<PAGE>   4


                  The undersigned Registrant hereby undertakes that, for
                  purposes of determining any liability under the Securities Act
                  of 1933, each filing of the Registrant's annual report
                  pursuant to Section 13(a) or 15(d) of the Securities Exchange
                  Act of 1934 (and, where applicable, each filing of an
                  employee-benefit plan's annual report pursuant to Section
                  15(d) of the Securities Exchange Act of 1934) that is
                  incorporated by reference in the registration statement shall
                  be deemed to be a new registration statement relating to the
                  securities offered therein, and the offering of such
                  securities at that time shall be deemed to be the initial bona
                  fide offering thereof.

                  Insofar as indemnification for liabilities arising under the
                  Securities Act of 1933 may be permitted to directors,
                  officers, and controlling persons of the Registrant pursuant
                  to the foregoing provisions, or otherwise, the Registrant has
                  been advised that, in the opinion of the Securities and
                  Exchange Commission, such indemnification is against public
                  policy as expressed in the Act and is, therefore,
                  unenforceable. In the event that a claim for indemnification
                  against such liabilities (other than the payment by the
                  Registrant of expenses incurred or paid by a director,
                  officer, or controlling person of the Registrant in the
                  successful defense of any action, suit, or proceeding) is
                  asserted by such director, officer, or controlling person in
                  connection with the securities being registered, the
                  Registrant will, unless in the opinion of its counsel the
                  matter has been settled by controlling precedent, submit to a
                  court of appropriate jurisdiction the question whether such
                  indemnification by it is against public policy as expressed in
                  the Act and will be governed by the final adjudication of such
                  issue.



                                       4


<PAGE>   5


                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Las Vegas, State of Nevada, as of March 8, 2001.


                                       INNOVATIVE GAMING CORPORATION
                                       OF AMERICA


                                       By: /s/ Roland M. Thomas
                                           -------------------------------------
                                           Name:  Roland M. Thomas
                                           Title: Chief Executive Officer,
                                                  Chief Financial Officer,
                                                 and Secretary


                                POWER OF ATTORNEY

         We, the undersigned officers and directors of Innovative Gaming
Corporation of America hereby severally constitute Roland M. Thomas as our true
and lawful attorney with full power to him to sign for us and in our names, in
the capacities indicated below the registration statement filed herewith and any
amendments to said registration statement, and generally to do all such things
in our name and behalf in our capacities as officers and directors to enable
Innovative Gaming Corporation of America to comply with the provisions of the
Securities Act of 1933 as amended, and all requirements of the Securities and
Exchange Commission, hereby ratifying and confirming our signatures as they may
be signed by our said attorneys, or any of them, to said registration statement
and any and all amendments thereto.

         Pursuant to the requirements of the Securities Exchange Act of 1933,
this registration statement has been signed below by the following persons in
the capacities and as of the date indicated.

NAME                                 TITLE                 DATED AS OF

                                     Director              March 8, 2001
-----------------------------
Ronald A. Johnson

/s/ Andrew Tottenham                 Director              March 8, 2001
-----------------------------
Andrew Tottenham

/s/ Thomas Foley                     Director              March 8, 2001
-----------------------------
Thomas Foley

/s/Steve Peterson                    Director              March 8, 2001
-----------------------------
Steve Peterson

/s/ Roland M. Thomas                 Director              March 8, 2001
-----------------------------
Roland M. Thomas



                                       5
<PAGE>   6


                                    EXHIBITS


EXHIBIT NUMBER     DESCRIPTION OF EXHIBIT
--------------     ----------------------

   5.              Opinion of Maslon Edelman Borman & Brand, LLP

   23(a).          Consent of Kafoury, Armstrong & Co

   23(b).          Consent of Maslon Edelman Borman & Brand, LLP (contained
                   in Exhibit 5)

   24.             Power of Attorney (contained on page II-5)



                                       6
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{"company-data": {"conformed-name": "INNOVATIVE GAMING CORP OF AMERICA", "cik": "0000897795", "assigned-sic": "3990", "irs-number": "411713864", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-56700", "film-number": "1563596"}, "business-address": {"street1": "4725 AIRCENTER CIRCLE", "city": "RENO", "state": "NV", "zip": "89502", "phone": "7758233000"}, "mail-address": {"street1": "4725 AIRCENTER CIRCLE", "city": "RENO", "state": "NV", "zip": "89502"}}
1

================================================================================

      AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH 8, 2001
                         REGISTRATION NO. 333-_________

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM S-8
             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                    INNOVATIVE GAMING CORPORATION OF AMERICA
             ------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

                                    MINNESOTA
                            ------------------------
                            (State of incorporation)

                                   41-1713864
                        ---------------------------------
                        (IRS Employer Identification No.)

                              4725 AIRCENTER CIRCLE
                               RENO, NEVADA 89502
                    ----------------------------------------
                    (Address of principal executive offices)

                     1992 STOCK OPTION AND COMPENSATION PLAN
                     ---------------------------------------
                              (Full title of plan)

                                ROLAND M. THOMAS
                    INNOVATIVE GAMING CORPORATION OF AMERICA
                            333 ORVILLE WRIGHT COURT
                             LAS VEGAS, NEVADA 89119
                     ---------------------------------------
                     (Name and address of agent for service)

                                 (702) 614-7199
          -------------------------------------------------------------
          (Telephone number, including area code, of agent for service)

                                   Copies to:

                             DOUGLAS T. HOLOD, ESQ.
                            PAUL D. CHESTOVICH, ESQ.
                       MASLON EDELMAN BORMAN & BRAND, LLP
                             3300 WELLS FARGO CENTER
                           MINNEAPOLIS, MN 55402-4140
                                 (612) 672-8200

                         CALCULATION OF REGISTRATION FEE
===================================================================================================================
TITLE OF                       PROPOSED MAXIMUM                                 PROPOSED MAXIMUM
OF SECURITIES TO BE            AMOUNT TO BE              OFFERING PRICE         AGGREGATE
REGISTERED                     REGISTERED (1)            PER SHARE (1)          OFFERING PRICE (1)          FEE
-------------------------------------------------------------------------------------------------------------------
Common Stock ($0.01 par
value per share)               1,150,000 Shares               $0.71                $826,562.50            $206.64
===================================================================================================================
(1)      Estimated solely for purposes of computing the registration fee in
         accordance with Rule 457(h) and based upon the average of the high and
         low prices of the Common Stock on the Nasdaq SmallCap Market System on
         March 2, 2001.

================================================================================
2

                                     PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF DOCUMENTS BY REFERENCE.

         The following documents filed by the Registrant with the Securities and
Exchange Commission are incorporated herein by reference and made a part hereof:

         (a)      The Registrant's Annual Report on Form 10-K for the fiscal
                  year ended December 31, 1999, filed with the SEC on March 30,
                  2000 and amended by Form 10-K/A filed with the SEC on May 1,
                  2000, and August 8, 2000;

         (b)      The Registrant's Quarterly Reports on Form 10-Q and 10-Q/A for
                  the quarters ended March 31, 2000, June 30, 2000, and
                  September 30, 2000; such reports filed on May 15, 2000 (and
                  amended by the filing of August 10, 2000), August 14, 2000,
                  and November 14, 2000, respectively;

         (c)      The Registrant's Current Reports on Form 8-K and 8-K/A as
                  filed with the SEC on May 12, 2000, May 19, 2000, August 18,
                  2000, September 22, 2000, and October 16, 2000;

         (d)      The Registrant's Registration Statement on Form S-8 filed on
                  March 8, 2001; and

         (e)      The description of the Company's Common Stock included under
                  the caption "Securities to be Registered" in the Company's
                  registration statement on Form 8-A, as filed on September 27,
                  1993, including any amendments or reports filed for the
                  purpose of updating such description.

         All documents subsequently filed by the Registrant pursuant to Sections
13(a), 13(c), 14, and 15(d) of the Securities Exchange Act of 1934, prior to the
filing of a post-effective amendment indicating that all securities offered have
been sold or deregistering all securities then remaining unsold, shall be deemed
to be incorporated by reference in this Registration Statement and to be part
hereof from the date of filing of such documents.

ITEM 6.  INDEMNIFICATION OF OFFICERS AND DIRECTORS.

         The Company is governed by Minnesota Statutes Chapter 302A. Minnesota
Statutes Section 302A.521 provides that a corporation shall indemnify any person
made or threatened to be made a party to any proceeding by reason of the former
or present official capacity of such person against judgments, penalties, and
fines, including without limitation excise taxes assessed against such person
with respect to an employee-benefit plan, settlements, and reasonable expenses,
including attorneys' fees and disbursements, incurred by such person in
connection with the proceeding, if, with respect to the acts or omissions of
such person complained of in the proceeding, such person has not been
indemnified by another organization or employee-benefit plan for the same
expenses with respect to the same acts or omissions; acted in good faith;
received no improper personal benefit and Section 302A.255, if applicable, has
been satisfied; in the case of a criminal proceeding, had no reasonable cause to
believe the conduct was unlawful; and in the case of acts or omissions by
persons in their official capacity for the corporation, reasonably believed that
the conduct was in the best interests of the corporation, or in the case of acts
or omissions by persons in their capacity for other organizations, reasonably
believed that the conduct was not opposed to the best interests of the
corporation.

                                       2
3

ITEM 8.  EXHIBITS.

         4(a).    Articles of Incorporation of the Company as Amended
                  (incorporated herein by reference as Exhibit 3.1 to the
                  Registrant's Registration Statement on Form SB-2 (File No.
                  33-61492C));

         4(b).    Bylaws of the Company (incorporated herein by reference as
                  Exhibit 3.2 to the Registrant's Registration Statement on Form
                  SB-2 (File No. 33-61492C);

         5.       Opinion of Maslon Edelman Borman & Brand, LLP;

         23(a).   Consent of Kafoury, Armstrong & Co.;

         23(b).   Consent of Maslon Edelman Borman & Brand, LLP (contained in
                  Exhibit 5); and

         24.      Power of Attorney (contained on page II-5).

ITEM 9.  UNDERTAKINGS.

         The undersigned Registrant hereby undertakes:

         (1)      To file, during any period in which offers or sales are being
                  made, a post-effective amendment to this registration
                  statement;

                  (i)      to include any prospectus required by Section
                           10(a)(3) of the Securities Act of 1933;

                  (ii)     to reflect in the prospectus any facts or events
                           arising after the effective date of the registration
                           statement (or the most recent post-effective
                           amendment thereof) which, individually or in the
                           aggregate, represent a fundamental change in the
                           information set forth in the registration statement.
                           Notwithstanding the foregoing, any increase or
                           decrease in volume of securities offered (if the
                           total dollar value of securities offered would not
                           exceed that which was registered) and any deviation
                           from the low or high and of the estimated maximum
                           offering range may be reflected in the form of
                           prospectus filed with the Commission pursuant to Rule
                           424(b) if, in the aggregate, the changes in volume
                           and price represent no more than 20 percent change in
                           the maximum aggregate offering price set forth in the
                           "Calculation of Registration Fee" table in the
                           effective registration statement; and

                  (iii)    to include any material information with respect to
                           the plan of distribution not previously disclosed in
                           the registration statement or any material change to
                           such information in the registration statement;

         (2)      That, for the purpose of determining any liability under the
                  Securities Act of 1933, each such post-effective amendment
                  shall be deemed to be a new registration statement relating to
                  the securities offered therein, and the offering of such
                  securities at that time shall be deemed to be the initial bona
                  fide offering thereof; and

         (3)      To remove from registration by means of a post-effective
                  amendment any of the securities being registered which remain
                  unsold at the termination of the offering.

                                       3
4

                  The undersigned Registrant hereby undertakes that, for
                  purposes of determining any liability under the Securities Act
                  of 1933, each filing of the Registrant's annual report
                  pursuant to Section 13(a) or 15(d) of the Securities Exchange
                  Act of 1934 (and, where applicable, each filing of an
                  employee-benefit plan's annual report pursuant to Section
                  15(d) of the Securities Exchange Act of 1934) that is
                  incorporated by reference in the registration statement shall
                  be deemed to be a new registration statement relating to the
                  securities offered therein, and the offering of such
                  securities at that time shall be deemed to be the initial bona
                  fide offering thereof.

                  Insofar as indemnification for liabilities arising under the
                  Securities Act of 1933 may be permitted to directors,
                  officers, and controlling persons of the Registrant pursuant
                  to the foregoing provisions, or otherwise, the Registrant has
                  been advised that, in the opinion of the Securities and
                  Exchange Commission, such indemnification is against public
                  policy as expressed in the Act and is, therefore,
                  unenforceable. In the event that a claim for indemnification
                  against such liabilities (other than the payment by the
                  Registrant of expenses incurred or paid by a director,
                  officer, or controlling person of the Registrant in the
                  successful defense of any action, suit, or proceeding) is
                  asserted by such director, officer, or controlling person in
                  connection with the securities being registered, the
                  Registrant will, unless in the opinion of its counsel the
                  matter has been settled by controlling precedent, submit to a
                  court of appropriate jurisdiction the question whether such
                  indemnification by it is against public policy as expressed in
                  the Act and will be governed by the final adjudication of such
                  issue.

                                       4
5

                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Las Vegas, State of Nevada, as of March 8, 2001.

                                       INNOVATIVE GAMING CORPORATION
                                       OF AMERICA

                                       By: /s/ Roland M. Thomas
                                           -------------------------------------
                                           Name:  Roland M. Thomas
                                           Title: Chief Executive Officer,
                                                  Chief Financial Officer,
                                                 and Secretary

                                POWER OF ATTORNEY

         We, the undersigned officers and directors of Innovative Gaming
Corporation of America hereby severally constitute Roland M. Thomas as our true
and lawful attorney with full power to him to sign for us and in our names, in
the capacities indicated below the registration statement filed herewith and any
amendments to said registration statement, and generally to do all such things
in our name and behalf in our capacities as officers and directors to enable
Innovative Gaming Corporation of America to comply with the provisions of the
Securities Act of 1933 as amended, and all requirements of the Securities and
Exchange Commission, hereby ratifying and confirming our signatures as they may
be signed by our said attorneys, or any of them, to said registration statement
and any and all amendments thereto.

         Pursuant to the requirements of the Securities Exchange Act of 1933,
this registration statement has been signed below by the following persons in
the capacities and as of the date indicated.

NAME                                 TITLE                 DATED AS OF

                                     Director              March 8, 2001
-----------------------------
Ronald A. Johnson

/s/ Andrew Tottenham                 Director              March 8, 2001
-----------------------------
Andrew Tottenham

/s/ Thomas Foley                     Director              March 8, 2001
-----------------------------
Thomas Foley

/s/Steve Peterson                    Director              March 8, 2001
-----------------------------
Steve Peterson

/s/ Roland M. Thomas                 Director              March 8, 2001
-----------------------------
Roland M. Thomas

                                       5
6

                                    EXHIBITS

EXHIBIT NUMBER     DESCRIPTION OF EXHIBIT
--------------     ----------------------

   5.              Opinion of Maslon Edelman Borman & Brand, LLP

   23(a).          Consent of Kafoury, Armstrong & Co

   23(b).          Consent of Maslon Edelman Borman & Brand, LLP (contained
                   in Exhibit 5)

   24.             Power of Attorney (contained on page II-5)

                                       6