UNITED STATES

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):   November 9, 2012




GLOBAL CASINOS, INC.
(Exact Name of Registrant as Specified in its Charter)



       Utah       

       0-15415       

    87-0340206    

(State or other jurisdiction
of incorporation)

Commission File
Number

(I.R.S. Employer Identification number)



1507 Pine Street, Boulder, CO  80302
(Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code:   (303) 449-2100


______________________________________________________

(Former name or former address, if changed since last report)



___

Written communications pursuant to Rule 425 under the Securities Act

___

Soliciting material pursuant to Rule 14a-12 under the Exchange Act

___

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

___

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act






 

 

 

 

ITEM 2.03

MODIFICATION OF A DIRECT FINANCIAL OBLIGATION


     Effective November 9, 2012, Casinos U.S.A., Inc., (as “Casinos”) a wholly-owned subsidiary of Global Casinos, Inc., (the “Company”) executed a Second Allonge and Modification Agreement (“Agreement”) with Lisa Paige Montrose (as “Lender”) modifying the terms of that certain promissory note in the original principal amount of $761,202.21 dated as of January 17, 1997 (the “Note”) providing for extensions of the maturity date of the Note with modifications to its terms, subject to the conditions set forth in the Agreement.  Casinos also executed a Modification to Second Deed of Trust which secures the Note reflecting the terms of the Agreement.  A copy of the Second Allonge and Loan Participation Agreement and Modification to Second Deed of Trust are filed herewith as Exhibits 10.1 and 10.2.



ITEM 9.01:       EXHIBITS


 

(c)

Exhibit

 

 

 

 

Item

Title

 

10.1

Second Allonge and Modification Agreement

 

10.2

Modification to Second Deed of Trust





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 thereunto duly authorized.


 

 

Global Casinos, Inc

(Registrant)

 

 

 

 

 

Dated: November 13, 2012

 

/s/ Clifford L. Neuman_______________

Clifford L. Neuman, President