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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
AMERICAN WAGERING, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
030405104
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(CUSIP Number)
Check the following box if a fee is being paid with the statement
|_|. (A fee is not required only if the reporting person: (1)
has a previous statement on file reporting beneficial ownership
of more than five percent of the class of securities described in
Item 1; and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7).
*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).
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| CUSIP No. 030405104 | 13G | Page 2 of 5 pages |
| ------------ | | ----- ----- |
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Victor J. Salerno
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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5. SOLE VOTING POWER
3,885,000
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 3,885,000
WITH -----------------------------------------------
8. SHARED DISPOSITIVE POWER
0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,885,000
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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
49.55%
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12. TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 030405104 13G Page 3 of 5 Pages
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Item 1(a) Name of Issuer
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American Wagering, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices
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675 Grier Drive
Las Vegas, Nevada 89119
Item 2(a) Name of Person Filing
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Victor J. Salerno
Item 2(b) Address of Principal Business Office is:
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675 Grier Drive
Las Vegas, Nevada 89119
Item 2(c) Citizenship
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United States
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CUSIP No. 030405104 13G Page 4 of 5 Pages
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Item 2(d) Title of Class of Securities
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Common Stock, par value $.01 per share
Item 2(e) CUSIP Number
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030405104
Item 3 Not Applicable
Item 4 Ownership
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(a) Victor J. Salerno beneficially owned an aggregate of
3,885,000 shares of the Issuer's Common Stock, or approximately
49.55% of the shares outstanding as of December 31, 1997.
(b) Number of Shares as to which Victor J. Salerno has:
(i) sole power to vote or to direct the vote- 3,885,000
(ii) shared power to vote or to direct the vote- 0
(iii) sole power to dispose of or to direct the disposition
of- 3,885,000
(iv) shared power to dispose or to direct the disposition of- 0
Item 5 Ownership of Five Percent or Less of a Class
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Not applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person
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No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the
Issuer's shares which are the subject of this Schedule 13G.
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
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Not Applicable
Item 8 Identification and Classification of Members of the Group
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Not Applicable
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CUSIP No. 030405104 13G Page 5 of 5 Pages
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Item 9 Notice of Dissolution of Group
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Not Applicable
Item 10 Certification
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Not Applicable
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.
February , 1998
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Date
By: /s/ Victor J. Salerno
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Victor J. Salerno
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Name/Title
