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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 iTzVtnWsDer+H2uW254JrA==

<SEC-DOCUMENT>0001144204-06-017979.txt : 20060502
<SEC-HEADER>0001144204-06-017979.hdr.sgml : 20060502
<ACCEPTANCE-DATETIME>20060502133240
ACCESSION NUMBER:		0001144204-06-017979
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060428
FILED AS OF DATE:		20060502
DATE AS OF CHANGE:		20060502

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			COLLETT W B
		CENTRAL INDEX KEY:			0001248731

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09099
		FILM NUMBER:		06798505

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 1848
		CITY:			LOGANVILLE
		STATE:			GA
		ZIP:			30052
		BUSINESS PHONE:		7704667777

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FLORIDA GAMING CORP
		CENTRAL INDEX KEY:			0000312065
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				591670533
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3500 N.W. 37TH AVE
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33142
		BUSINESS PHONE:		3056336400

	MAIL ADDRESS:	
		STREET 1:		2669 CHARLESTOWN ROAD
		STREET 2:		SUITE D
		CITY:			NEW ALBANY
		STATE:			IN
		ZIP:			47150

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXICON CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v041811_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-04-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000312065</issuerCik>
        <issuerName>FLORIDA GAMING CORP</issuerName>
        <issuerTradingSymbol>FGMG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001248731</rptOwnerCik>
            <rptOwnerName>COLLETT W B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2669 CHARLESTOWN RD. #D</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW ALBANY</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>47150</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, Par Value $.20</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>886157</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote (1)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>17</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-04-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>48000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2006-10-28</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-10-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>48000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1021334</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">All shares are owned by Freedom Financial Corp. which were previously reported on Form 4.</footnote>
        <footnote id="F2">Direct Ownership-528,000 options of which 480,000 options were previously reported on Form 4.
Indirect Ownership-Freedom Financial Corp. (&quot;FF&quot;) owns 1000 shares of  Florida Gaming Corp. (&quot;FGC&quot;) Pref. F stock which can
 be converted into 148,334 common Shares. FF also has 20,000 warrants and 325,000 options.  FF owns 200 shares of Preferred E
 stock which can be converted into common shares, but the conversion into common shares fluctuates depending on the price of
 the stock. Therefore, these numbers do not include any conversion of Series E Preferred stock.
These warrants, options, and conversions have previously been reported.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kimberly Tharp, by Power of Attorney</signatureName>
        <signatureDate>2006-05-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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