SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

AUCOUTURIER BENOIT

(Last)

(First)

(Middle)

C/O CAFF S.A.

140 BOULEVARD MALESHERBES

(Street)

PARIS

75017

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Gaming Partners International CORP [ GPIC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/21/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								343	D
Common Stock	06/21/2005		S		3,785	D	$19.0032	216,274	I	By CAFF S.A.
Common Stock	06/22/2005		S		1,500	D	$19	214,774	I	By CAFF S.A.
Common Stock	06/23/2005		S		10,000	D	$19.2222	204,774	I	By CAFF S.A.
Common Stock	06/24/2005		S		10,000	D	$19.1844	194,744	I	By CAFF S.A.
Common Stock	06/24/2005		S		10,000	D	$19.1	184,774	I	By CAFF S.A.
Common Stock	06/27/2005		S		9,200	D	$19.273	175,574	I	By CAFF S.A.
Common Stock	06/28/2005		S		1,600	D	$19.0888	173,974	I	By CAFF S.A.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option (Right to Buy)⁽¹⁾	$9.85							04/15/2005	10/14/2014	Common Stock	1,500		1,500	D
Option (Right to Buy)⁽²⁾	$5.88							04/15/2004	10/14/2013	Common Stock	1,500		1,500	D
Common Stock⁽³⁾	$3.69							⁽³⁾	10/14/2012	Common Stock	6,000		4,000	D
Warrants (Right to Buy)⁽⁴⁾	$0.01							⁽⁴⁾	⁽⁴⁾	Common Stock	18		18	D
Common Stock⁽⁵⁾	$0.01							⁽⁵⁾	⁽⁵⁾	Common Stock	12,220		12,220	I	By CAFF S.A.

Explanation of Responses:

1. As previously reported, on October 14, 2004, Gaming Partners International Corporation f/k/a Paul-Son Gaming Corporation (the "Company") granted Mr. Aucouturier options to purchase 1,500 shares of the Company's common stock at $9.85 per share, pursuant to the Company's 1994 Directors' Stock Option Plan (the "Plan"). The grant was exempt under Rule 16b-3. The option is fully vested and exercisable.

2. As previously reported, on October 14, 2003, the Company granted Mr. Aucouturier options to purchase 1,500 shares of the Company's common stock at $5.88 per share, pursuant to the Plan. The grant was exempt under Rule 16b-3. The option is fully vested and exercisable.

3. As previously reported, on October 14, 2002, the Company granted Mr. Aucouturier options to purchase 6,000 shares of the Company's common stock pursuant to the Plan. The grant was exempt under Rule 16b-3. The options vest in equal installments over a three-year period with the first one-third installment vesting on October 14, 2003.

4. As previously reported, the Company issued Mr. Aucouturier warrants to purchase common stock pursuant to a combination agreement between the Company and Etablissements Bourgogne et Grasset SA (the "Agreement"). The anti-dilution warrants were approved by the Company's stockholders on September 12, 2002. The anti-dilution warrants are exercisable only upon conversion, exercise or exchange for shares issued pursuant to options and similar rights granted by the Company prior to the closing of the Agreement. There are currently 2 warrants exerciseable.

5. As previously reported, the Company issued Compagnie d'Arbitrage Financier et Foncier ("CAFF S.A."), a family investment company of which Mr. Aucouturier is general manager and director, warrants to purchase common stock pursuant to the Agreement. The anti-dilution warrants were approved by the Company's stockholders on September 12, 2002. The anti-dilution warrants are exercisable only upon conversion, exercise or exchange for shares issued pursuant to options and similar rights granted by the Company prior to the closing of the Agreement. There are currently 1,335 warrants exerciseable.

	/s/ Melody Sullivan, by power of attorney for Benoit Aucouturier	06/29/2005
	** Signature of Reporting Person	Date
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