UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Gaming & Entertainment Group, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
656541208
(CUSIP Number)
March 27, 2005
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 656541208 Page 1 of 8
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BFS US SPECIAL OPPORTUNITIES TRUST PLC ("BFS")
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED KINGDOM
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 1,112,500
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,112,500
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,112,500
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.6%
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12 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
CUSIP No. 656541208 Page 2 of 8
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RENAISSANCE US GROWTH INVESTMENT TRUST PLC ("R US")
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED KINGDOM
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 1,112,500
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,112,500
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,112,500
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.6%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
CUSIP No. 656541208 Page 3 of 8
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RENN CAPITAL GROUP, INC.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 2,225,000
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,225,000
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,225,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.2%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IA
--------------------------------------------------------------------------------
CUSIP No. 656541208 Page 4 of 8
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RUSSELL CLEVELAND
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 2,225,000
REPORTING -----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,225,000
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,225,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.2%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
CUSIP No. 656541208 Page 5 of 8
Item 1(a) Name of Issuer:
Gaming & Entertainment Group, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
6757 Spencer Street, Las Vegas, NV 89119
Item 2(a) Names of Persons Filing:
BFS US SPECIAL OPPORTUNITIES TRUST PLC
RENAISSANCE US GROWTH INVESTMENT TRUST PLC
RENN CAPITAL GROUP, INC.
RUSSELL CLEVELAND
Item 2(b) Address of Principal Business Office:
8080 N. CENTRAL EXPRESSWAY, SUITE 210, LB-59, DALLAS, TX 75206
Item 2(c) Citizenship:
See Item 4 of each cover page.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP No:
656541208
CUSIP No. 656541208 Page 6 of 8
Item 3 Status of Persons Filing:
(a) |_| Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o);
(b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c);
(c) |_| Insurance company as defined in section 3(a)(19) of the
Act (15 U.S.C. 78c);
(d) |_| Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) |_| An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund in accordance
with ss.240.13d-1(b)(1)(ii)(F);
(g) |_| A parent holding company or control person in accordance
with ss.240.13d-1(b)(1)(ii)(G);
(h) |_| A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) |_| A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
Item 4 Ownership:
(a) This statement is filed on behalf of BFS US Special
Opportunities Trust PLC ("BFS"), Renaissance US Growth
Investment Trust PLC ("R US"), RENN Capital Group, Inc.
("RENN") and Russell Cleveland. RENN is the investment adviser
to RENN and R US. Mr. Cleveland is the President and Chief
Executive Officer of RENN. As of February 14, 2006, each of
BFS and R US was the owner of record and beneficial owner of
1,125,000 shares of the common stock of Gaming & Entertainment
Group, Inc. ("Common Stock"), consisting of 612,500 shares of
Common Stock and 500,000 shares of Common Stock issuable upon
the exercise of warrants.
Each of BFS and R US share voting and dispositive power over
their respective shares with RENN. Mr. Cleveland may be deemed
to be the beneficial owner of the shares of Common Stock
beneficially owned by RENN.
(b) Percent of Class:
See Item 11 of each cover page.
(c) Number of shares as to which each person has:
(i) sole power to vote or to direct the vote:
See Item 5 of each cover page.
CUSIP No. 656541208 Page 7 of 8
(ii) shared power to vote or to direct the vote:
See Item 6 of each cover page.
(iii) sole power to dispose or to direct the disposition of:
See Item 7 of each cover page.
(iv) shared power to dispose or to direct the disposition of:
See Item 8 of each cover page.
Item 5 Ownership of 5% or Less of a Class:
Not applicable.
Item 6 Ownership of More than 5% on Behalf of Another Person:
Mr. Cleveland is President and Chief Executive Officer of RENN which
is investment adviser to BFS and investment manager to R US. Each of
the BFS and R US, individually, has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from
the sale of, such securities. Each of BFS and R US, individually,
also share such rights and powers with RENN.
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company or
Control Person:
Not applicable.
Item 8 Identification and Classification of Members of the Group:
See Exhibit 1
Item 9 Notice of Dissolution of Group:
Not applicable.
Item 10 Certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
any transaction having that purpose or effect.
CUSIP No. 656541208 Page 8 of 8
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 14, 2006 BFS US SPECIAL OPPORTUNITIES TRUST PLC
/s/ Russell Cleveland
Name: Russell Cleveland
Title: President, RENN Capital Group, Inc.,
Investment Adviser
Date: February 14, 2006 RENAISSANCE US GROWTH INVESTMENT TRUST PLC
/s/ Russell Cleveland
Name: Russell Cleveland
Title: President, RENN Capital Group, Inc.,
Investment Adviser
Date: February 14, 2006 RENN CAPITAL GROUP, INC.
/s/ Russell Cleveland
Name: Russell Cleveland
Title: President, RENN Capital Group, Inc.,
Investment Adviser
Date: February 14, 2006
/s/ Russell Cleveland
--------------------------------------------
Russell Cleveland
EXHIBIT
Exhibit 1 Group Members Listing
Exhibit 2 Joint Filing Agreement, dated February 14, 2006.