-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Exo30wx4xI34Rv2TSCpUY5+R5dFiF5hcPNrWQlWCOUc9uBuZMQXCyJmN2TlPrZOZ
 cDGOYGyhrAMQw2qYh6uZHw==

<SEC-DOCUMENT>0001179110-08-021642.txt : 20081231
<SEC-HEADER>0001179110-08-021642.hdr.sgml : 20081231
<ACCEPTANCE-DATETIME>20081231114150
ACCESSION NUMBER:		0001179110-08-021642
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081229
FILED AS OF DATE:		20081231
DATE AS OF CHANGE:		20081231

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Chung Clarence YM
		CENTRAL INDEX KEY:			0001417660

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32161
		FILM NUMBER:		081277958

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		852-3151-3777

	MAIL ADDRESS:	
		STREET 1:		38/F THE CENTRIUM
		STREET 2:		60 WYNDHAM STREET, CENTRAL
		CITY:			HONG KONG
		STATE:			F4
		ZIP:			0

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Elixir Gaming Technologies, Inc.
		CENTRAL INDEX KEY:			0001004673
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		IRS NUMBER:				911696010
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1120 N. TOWN CENTER DRIVE
		STREET 2:		SUITE 260
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89144
		BUSINESS PHONE:		7027337195

	MAIL ADDRESS:	
		STREET 1:		1120 N. TOWN CENTER DRIVE
		STREET 2:		SUITE 260
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89144

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VENDINGDATA CORP
		DATE OF NAME CHANGE:	20000727

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CVI TECHNOLOGY INC
		DATE OF NAME CHANGE:	20000508

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CASINOVATIONS INC
		DATE OF NAME CHANGE:	19970710
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-12-29</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001004673</issuerCik>
        <issuerName>Elixir Gaming Technologies, Inc.</issuerName>
        <issuerTradingSymbol>EGT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001417660</rptOwnerCik>
            <rptOwnerName>Chung Clarence YM</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>38/F THE CENTRIUM</rptOwnerStreet1>
            <rptOwnerStreet2>60 WYNDHAM STREET, CENTRAL</rptOwnerStreet2>
            <rptOwnerCity>HONG KONG</rptOwnerCity>
            <rptOwnerState>F4</rptOwnerState>
            <rptOwnerZipCode>0</rptOwnerZipCode>
            <rptOwnerStateDescription>CHINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Option/Right to Buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.17</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-12-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2009-12-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-12-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2000000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2000000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>Clarence Chung</signatureName>
        <signatureDate>2008-12-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----