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

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                                (Amendment No. )*

                       Gaming & Entertainment Group, Inc.
                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities)

                                    656541208
                                 (CUSIP Number)

                                 March 27, 2005
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

      |_|   Rule 13d-1(b)

      |X|   Rule 13d-1(c)

      |_|   Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



CUSIP No. 656541208                                                  Page 1 of 8

--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      BFS US SPECIAL OPPORTUNITIES TRUST PLC ("BFS")
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                             (a) |_|
                                                             (b) |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY


--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      UNITED KINGDOM
--------------------------------------------------------------------------------
                     5     SOLE VOTING POWER

  NUMBER OF                0
   SHARES            -----------------------------------------------------------
BENEFICIALLY         6     SHARED VOTING POWER
  OWNED BY
    EACH                   1,112,500
  REPORTING          -----------------------------------------------------------
   PERSON            7     SOLE DISPOSITIVE POWER
    WITH
                           0
                     -----------------------------------------------------------
                     8     SHARED DISPOSITIVE POWER

                           1,112,500
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      1,112,500
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                             |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

      5.6%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON

      OO
--------------------------------------------------------------------------------



CUSIP No. 656541208                                                  Page 2 of 8

--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      RENAISSANCE US GROWTH INVESTMENT TRUST PLC ("R US")
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                             (a) |_|
                                                             (b) |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY


--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      UNITED KINGDOM
--------------------------------------------------------------------------------
                     5     SOLE VOTING POWER

  NUMBER OF                0
   SHARES            -----------------------------------------------------------
BENEFICIALLY         6     SHARED VOTING POWER
  OWNED BY
    EACH                   1,112,500
  REPORTING          -----------------------------------------------------------
   PERSON            7     SOLE DISPOSITIVE POWER
    WITH
                           0
                     -----------------------------------------------------------
                     8     SHARED DISPOSITIVE POWER

                           1,112,500
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      1,112,500
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                             |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

      5.6%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON

      OO
--------------------------------------------------------------------------------



CUSIP No. 656541208                                                  Page 3 of 8

--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      RENN CAPITAL GROUP, INC.
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                             (a) |_|
                                                             (b) |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY


--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      TEXAS
--------------------------------------------------------------------------------
                     5     SOLE VOTING POWER

  NUMBER OF                0
   SHARES            -----------------------------------------------------------
BENEFICIALLY         6     SHARED VOTING POWER
  OWNED BY
    EACH                   2,225,000
  REPORTING          -----------------------------------------------------------
   PERSON            7     SOLE DISPOSITIVE POWER
    WITH
                           0
                     -----------------------------------------------------------
                     8     SHARED DISPOSITIVE POWER

                           2,225,000
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,225,000
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                             |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

      11.2%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON

      IA
--------------------------------------------------------------------------------



CUSIP No. 656541208                                                  Page 4 of 8

--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      RUSSELL CLEVELAND
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                             (a) |_|
                                                             (b) |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY


--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      TEXAS
--------------------------------------------------------------------------------
                     5     SOLE VOTING POWER

  NUMBER OF                0
   SHARES            -----------------------------------------------------------
BENEFICIALLY         6     SHARED VOTING POWER
  OWNED BY
    EACH                   2,225,000
  REPORTING          -----------------------------------------------------------
   PERSON            7     SOLE DISPOSITIVE POWER
    WITH
                           0
                     -----------------------------------------------------------
                     8     SHARED DISPOSITIVE POWER

                           2,225,000
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,225,000
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                             |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

      11.2%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON

      IN
--------------------------------------------------------------------------------



CUSIP No. 656541208                                                  Page 5 of 8

Item 1(a)   Name of Issuer:

            Gaming & Entertainment Group, Inc.

Item 1(b)   Address of Issuer's Principal Executive Offices:

            6757 Spencer Street, Las Vegas, NV  89119

Item 2(a)   Names of Persons Filing:

            BFS US SPECIAL OPPORTUNITIES TRUST PLC
            RENAISSANCE US GROWTH INVESTMENT TRUST PLC
            RENN CAPITAL GROUP, INC.
            RUSSELL CLEVELAND

Item 2(b)   Address of Principal Business Office:

            8080 N. CENTRAL EXPRESSWAY, SUITE 210, LB-59, DALLAS, TX  75206

Item 2(c)   Citizenship:

            See Item 4 of each cover page.

Item 2(d)   Title of Class of Securities:

            Common Stock

Item 2(e)   CUSIP No:

            656541208



CUSIP No. 656541208                                                  Page 6 of 8

Item 3      Status of Persons Filing:

            (a)   |_| Broker or dealer registered under section 15 of the Act
                      (15 U.S.C. 78o);

            (b)   |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
                      78c);

            (c)   |_| Insurance company as defined in section 3(a)(19) of the
                      Act (15 U.S.C. 78c);

            (d)   |_| Investment company registered under section 8 of the
                      Investment Company Act of 1940 (15 U.S.C. 80a-8);

            (e)   |_| An investment adviser in accordance with
                      ss.240.13d-1(b)(1)(ii)(E);

            (f)   |_| An employee benefit plan or endowment fund in accordance
                      with ss.240.13d-1(b)(1)(ii)(F);

            (g)   |_| A parent holding company or control person in accordance
                      with ss.240.13d-1(b)(1)(ii)(G);

            (h)   |_| A savings association as defined in Section 3(b) of the
                      Federal Deposit Insurance Act (12 U.S.C. 1813);

            (i)   |_| A church plan that is excluded from the definition of an
                      investment company under section 3(c)(14) of the
                      Investment Company Act of 1940 (15 U.S.C. 80a-3);

            (j)   |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).

Item 4      Ownership:

            (a)   This statement is filed on behalf of BFS US Special
                  Opportunities Trust PLC ("BFS"), Renaissance US Growth
                  Investment Trust PLC ("R US"), RENN Capital Group, Inc.
                  ("RENN") and Russell Cleveland. RENN is the investment adviser
                  to RENN and R US. Mr. Cleveland is the President and Chief
                  Executive Officer of RENN. As of February 14, 2006, each of
                  BFS and R US was the owner of record and beneficial owner of
                  1,125,000 shares of the common stock of Gaming & Entertainment
                  Group, Inc. ("Common Stock"), consisting of 612,500 shares of
                  Common Stock and 500,000 shares of Common Stock issuable upon
                  the exercise of warrants.

                  Each of BFS and R US share voting and dispositive power over
                  their respective shares with RENN. Mr. Cleveland may be deemed
                  to be the beneficial owner of the shares of Common Stock
                  beneficially owned by RENN.

            (b)   Percent of Class:

                  See Item 11 of each cover page.

            (c)   Number of shares as to which each person has:

                  (i)   sole power to vote or to direct the vote:

                        See Item 5 of each cover page.



CUSIP No. 656541208                                                  Page 7 of 8

                  (ii)  shared power to vote or to direct the vote:

                        See Item 6 of each cover page.

                  (iii) sole power to dispose or to direct the disposition of:

                        See Item 7 of each cover page.

                  (iv)  shared power to dispose or to direct the disposition of:

                        See Item 8 of each cover page.

Item 5      Ownership of 5% or Less of a Class:

            Not applicable.

Item 6      Ownership of More than 5% on Behalf of Another Person:

            Mr. Cleveland is President and Chief Executive Officer of RENN which
            is investment adviser to BFS and investment manager to R US. Each of
            the BFS and R US, individually, has the right to receive or the
            power to direct the receipt of dividends from, or the proceeds from
            the sale of, such securities. Each of BFS and R US, individually,
            also share such rights and powers with RENN.

Item 7      Identification and Classification of the Subsidiary Which Acquired
            the Security Being Reported on By the Parent Holding Company or
            Control Person:

            Not applicable.

Item 8      Identification and Classification of Members of the Group:

            See Exhibit 1

Item 9      Notice of Dissolution of Group:

            Not applicable.

Item 10     Certification:

            By signing below I certify that, to the best of my knowledge and
            belief, the securities referred to above were not acquired and are
            not held for the purpose of or with the effect of changing or
            influencing the control of the issuer of the securities and were not
            acquired and are not held in connection with or as a participant in
            any transaction having that purpose or effect.



CUSIP No. 656541208                                                  Page 8 of 8

                                    SIGNATURE

      After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date:  February 14, 2006            BFS US SPECIAL OPPORTUNITIES TRUST PLC

                                    /s/ Russell Cleveland
                                    Name:  Russell Cleveland
                                    Title: President, RENN Capital Group, Inc.,
                                           Investment Adviser


Date:  February 14, 2006            RENAISSANCE US GROWTH INVESTMENT TRUST PLC

                                    /s/ Russell Cleveland
                                    Name:  Russell Cleveland
                                    Title: President, RENN Capital Group, Inc.,
                                           Investment Adviser


Date:  February 14, 2006            RENN CAPITAL GROUP, INC.

                                    /s/ Russell Cleveland
                                    Name:  Russell Cleveland
                                    Title: President, RENN Capital Group, Inc.,
                                           Investment Adviser

Date:  February 14, 2006
                                    /s/ Russell Cleveland
                                    --------------------------------------------
                                    Russell Cleveland



                                     EXHIBIT

Exhibit 1         Group Members Listing

Exhibit 2         Joint Filing Agreement, dated February 14, 2006.