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FORM 3 OMB APPROVAL
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Expires: December 31, 2001
Estimated average burden
hours per response.....0.5
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Augustine Fund, LP
(Last) (First) (Middle)
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141 W. Jackson, Suite 2182
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(Street)
Chicago, IL 60604
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(City) (State) (Zip)
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2. Date of Event-Requiring Statement (Month/Day/Year)
10/4/00
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3. I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Latin American Casinos, Inc. (LACI) (Nasdaq National Market)
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__ Director _X_ 10% Owner
__ Officer (give title below) __ Other (specify below)
__________________________
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
__ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I - Non-Derivative Securities Beneficially Owned
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1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially owned Form: Direct (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
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<S> <C> <C> <C>
Common Stock 479,806 D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. * If the form is filed by more than one reporting
person, see Instruction 5(b)(v).
Potential persons who are to respond to the collection of information contained
in this form Page 3 of 3 are not required to respond unless the form displays a
currently valid OMB Number.
Page 1 of 3
<PAGE>
FORM 3 (CONTINUED)
<TABLE>
<CAPTION>
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of Indirect
Security (Instr. 4) cisable and Underlying Derivative sion or ship Beneficial Ownership
Expiration Security (Instr. 4) Exercise Form of (Instr. 5)
Date Price Deri-
(Month/Day/Year) of vative
Deri- Security:
vative Direct
Security (D) or
Indirect
(I)
(Instr. 5)
Amount
Date Expira- or
Exer- tion Title Number
cisable Date of
Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
Option 10/30/00 10/30/00 Common Stock 325,000 $1.25 D
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</TABLE>
Explanation of Responses:
**Intentional misstatements or omissions of facts
constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Augustine Fund, LP, by John Porter, President of general partner
/s/ John Porter, President of general partner
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** Signature of Reporting Person
October 13, 2000
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Date
Note: File three copies of this Form, one of which must be manually signed. If
space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2 of 3
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FORM 3 (CONTINUED) Additional Reporting Persons
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Additional Reporting Person Amount of Securities Nature of Indirect
and Address Beneficially owned Beneficial Ownership
(Instr. 4) (Instr. 5)
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Augustine Capital Management, LLC 804,806* *
141 W. Jackson, Suite 2182
Chicago, IL 60604
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John T. Porter
141 W. Jackson, Suite 2182
Chicago, IL 60604 804,806* *
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Brian D. Porter
141 W. Jackson, Suite 2182
Chicago, IL 60604 804,806* *
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Thomas Duszynski
141 W. Jackson, Suite 2182
Chicago, IL 60604 804,806* *
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David R. Asplund 804,806* *
141 W. Jackson, Suite 2182
Chicago, IL 60604
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* 479,806 shares of Common Stock indirectly beneficially owned (held in the name
of Augustine Fund, LP) and 325,000 shares indirectly beneficially owned by an
option (held by Augustine Fund, LP) described on page 2 of this form. Each of
the additional filers listed on this page is a general partner, officer or
director of the Augustine Fund, LP and may be deemed to have a pecuniary
interest in the shares of Common Stock beneficially owned by Augustine Fund, LP.
Signatures of Additional Reporting Persons:
Dated October 13, 2000
AUGUSTINE CAPITAL MANAGEMENT, LLC
/s/ John T. Porter
John T. Porter, President of general partner
/s/ John T. Porter
John T. Porter
/s/ Brian D. Porter
Brian D. Porter
/s/ Thomas Duszynski
Thomas Duszynski
/s/ David R. Asplund
David R. Asplund
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 3 of 3
