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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LxLGwM3fccBEoYcnN29BzNR93RcwShEW6rqirnvU6ldGoufYJqZnffZjB8rkSZ0u
 /M0GFG4bkFP7q7eiq0AjoA==

<SEC-DOCUMENT>0001179110-03-006598.txt : 20030829
<SEC-HEADER>0001179110-03-006598.hdr.sgml : 20030829
<ACCEPTANCE-DATETIME>20030829153433
ACCESSION NUMBER:		0001179110-03-006598
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030827
FILED AS OF DATE:		20030829

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARGOSY GAMING CO
		CENTRAL INDEX KEY:			0000895385
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
		IRS NUMBER:				371304247
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		219 PIASA ST
		CITY:			ALTON
		STATE:			IL
		ZIP:			62002
		BUSINESS PHONE:		6184747500

	MAIL ADDRESS:	
		STREET 1:		219 PIASA STREET
		CITY:			ALTON
		STATE:			IL
		ZIP:			62002

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MALLOY DONALD
		CENTRAL INDEX KEY:			0001239617

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11853
		FILM NUMBER:		03874219

	MAIL ADDRESS:	
		STREET 1:		219 PIASA ST
		CITY:			ALTON
		STATE:			IL
		ZIP:			62002
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-08-27</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000895385</issuerCik>
        <issuerName>ARGOSY GAMING CO</issuerName>
        <issuerTradingSymbol>AGY</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001239617</rptOwnerCik>
            <rptOwnerName>MALLOY DONALD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>219 PIASA STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ALTON</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>62002</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Senior VP &amp; Secretary</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common stock par value $.01 per share</value>
</securityTitle>
<transactionDate><value>2003-08-27</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>25000</value>
</transactionShares>
<transactionPricePerShare><value>3.3125</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>25000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Option (Right to Buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>3.3125</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-08-27</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>25000</value>
</transactionShares>
<transactionPricePerShare><value>3.3125</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>1998-04-23</value>
</exerciseDate>
<expirationDate><value>2008-04-23</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>25000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>47260</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes></footnotes>
<ownerSignature><signatureName>Donald J. Malloy</signatureName>
<signatureDate>2003-08-29</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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