Las Vegas Entertainment Network, Inc.

Securities Exchange Act of 1934
Release No. 46626 / October 9, 2002

Administrative Proceeding
File No. 3-10914

In the Matter of Las Vegas Entertainment Network, Inc. Respondent.

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ORDER INSTITUTING PROCEEDING, MAKING FINDINGS AND REVOKING REGISTRATION OF COMMON STOCK PURSUANT TO SECTION 12(j) OF THE SECURITIES EXCHANGE ACT OF 1934

I.

The Securities and Exchange Commission ("Commission") deems it necessary and appropriate for the protection of investors that a public administrative proceeding be, and hereby is, instituted pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") against Las Vegas Entertainment Network, Inc. ("Respondent" or "Las Vegas Entertainment").

II.

In anticipation of the institution of this proceeding, Respondent has submitted an Offer of Settlement (the "Offer") which the Commission has determined to accept. Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission's jurisdiction over it and the subject matter of this proceeding, and the findings contained in Section III below, which are admitted, Respondent consents to the entry of this Order Instituting Proceeding, Making Findings and Revoking Registration of Common Stock Pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Order"), as set forth below.

III.

On the basis of this Order and Respondent's Offer, the Commission finds that:

1. The common stock of Las Vegas Entertainment is registered with the Commission pursuant to Section 12(g) of the Exchange Act.

2. At all relevant times, Las Vegas Entertainment was required, pursuant to Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder, to file, timely and in proper form, its annual reports on Forms 10-KSB and its quarterly reports on Forms 10-QSB. Las Vegas Entertainment has not filed annual reports on Form 10K-SB and quarterly reports on Form 10Q-SB for any fiscal period subsequent to its fiscal quarter ended July 31, 1999. As a result of the foregoing, Las Vegas Entertainment failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder.

3. Las Vegas Entertainment failed to comply with Sections 10(b) and 13(a) of the Exchange Act and Rules 10b-5, 12b-20, and 13a-13 in its quarterly reports on Form 10Q-SB for the second and third quarters of fiscal year ended October 31, 1999, in that Las Vegas Entertainment materially misrepresented its financial position. In its April and July 1999 quarterly reports, Las Vegas Entertainment included as a $3.5 million asset its marketing rights relating to a hotel in Las Vegas, Nevada, even though those rights had expired. In its July 1999 quarterly report, Las Vegas Entertainment reported a $3 million phony gold certificate on its balance sheet.

4. Notwithstanding the foregoing, Las Vegas Entertainment's stock is still listed in the "Pink Sheets" published by Pink Sheets, LLC, and is still traded in the over-the-counter market. As of August 9, 2002, Las Vegas Entertainment's stock traded at less than $0.01 per share.

IV.

Section 12(j) of the Exchange Act provides as follows:

The Commission is authorized, by order, as it deems necessary or appropriate for the protection of investors to deny, to suspend the effective date of, to suspend for a period not exceeding twelve months, or to revoke the registration of a security, if the Commission finds, on the record after notice and opportunity for hearing, that the issuer of such security has failed to comply with any provision of this title or the rules and regulations thereunder. No member of a national securities exchange, broker, or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, any security the registration of which has been and is suspended or revoked pursuant to the preceding sentence.

V.

In view of the foregoing, the Commission deems it necessary and appropriate for the protection of investors to impose the sanction specified in Respondent Las Vegas Entertainment's Offer.

ACCORDINGLY, IT IS ORDERED that the registration of the common stock of Las Vegas Entertainment Network, Inc. be, and hereby is, revoked pursuant to Section 12(j) of the Exchange Act.

By the Commission.

Jonathan G. Katz
Secretary