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


                                    Form 8-K

                                 CURRENT REPORT



     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

          Date of Report:                                December 2, 2003
 (Date of earliest event reported)                      (November 24, 2003)


                             Multimedia Games, Inc.
             (Exact name of registrant as specified in its charter)
                                     0-28318
                            (Commission File Number)



                 Texas                                        74-2611034
     (State or other jurisdiction                           (IRS Employer
           of incorporation)                             Identification No.)

   206 Wild Basin Rd., Bldg. B, Suite 400,                       78746
                Austin, Texas                                  (Zip Code)
  (Address of principal executive offices)



                                 (512) 334-7500
              (Registrant's telephone number, including area code)

                                  Page 1 of 24



Item 7.  Financial Statements and Exhibits.

(c)  Exhibits.

Exhibit No.      Description
-----------      -----------


   99.1          Press Release, dated November 24, 2003, announcing fiscal year
                 2003 results

   99.2          Transcript of fiscal year 2003 results conference call

Item 9.  Regulation FD Disclosure

On November 21, 2003, the United States Department of Justice ("DOJ") filed
a Petition for a Writ of Certiorari  in the United States  Supreme Court seeking
review of two U.S.  Circuit  Court cases that  examined  whether the Johnson Act
prohibits  Native  American  tribes from  offering  certain  types of electronic
gaming devices.  Specifically,  the DOJ seeks review of United States of America
v. Santee Sioux Tribe of  Nebraska,  a federally  recognized  Indian  Tribe,  on
Petition for a Writ of  Certiorari to the United States Court of Appeals for the
Tenth Circuit, and John D. Ashcroft,  Attorney General, et al., v. Seneca-Cayuga
Tribe of  Oklahoma,  et al. on Petition for a Writ of  Certiorari  to the United
States  Court of  Appeals  for the Eighth  Circuit.  In the  petitions,  the DOJ
asserts that the Johnson Act prohibits  Native  American  tribes from  operating
certain  electronic  gambling  devices  without a compact  with the  appropriate
state.   Although  the  machines   offered  by  Multimedia   Games,   Inc.  (the
"Registrant")  are not the subject of either  lawsuit,  the DOJ's  arguments and
reasoning  would appear to encompass the machines  offered by the Registrant for
the  Class II  market.  As a result,  if the U.S.  Supreme  Court  were to grant
certiorari and adopt the arguments  advanced by the DOJ, the play of most of the
Registrant's  current  products  without a compact would likely be prohibited by
the Johnson Act. This result would almost certainly have a significant, material
adverse   impact  on  the   Registrant's   business   and   operating   results.
Alternatively, a decision by the Supreme Court that rejected the DOJ's arguments
and  instead  affirmed  the  right of the  tribes to offer  games  such as those
manufactured and sold by the Registrant as legal  "electronic aids" to bingo for
the  Class  II  market  could  remove   significant  legal  uncertainty  in  the
Registrant's  principal  market.  A  favorable  result  could form the basis for
expansion  of  market  opportunities,  and  further  innovation  in the Class II
market.

As discussed in the  transcript  attached to this report as Exhibit 99.2, we are
not a party to these actions. We will likely have only limited information about
the  proceedings  at the Supreme Court.  We cannot  predict  whether the Supreme
Court will grant certiorari in these cases or, if certiorari is granted, how the
Supreme Court will rule.  Accordingly,  we do not intend to speculate  about the
potential outcomes in these matters.

The  proceedings  at the Supreme  Court may affect our  business  prior to their
resolution.  In particular, it is possible that the continued uncertainty in the
Class II gaming market may deter or delay the entrance of new  competitors  into
our markets.  Also, our tribal  customers may face increased  pressure to seek a
compact  with the states in which they  operate.  However,  it is  difficult  to
predict  whether  these or other  effects will  actually  occur or,  should they
occur,  what  impact  they will have on our  business.  We intend to continue to
disclose any material  effects we  experience  as a result of the actions of the
DOJ or other regulatory developments.

Item 12.  Results of Operation and Financial Condition.

On November 24, 2003,  the  Registrant  issued a press  release  announcing  its
fiscal year 2003 results, and on the same date held a conference call to discuss
these results.  The full text of the press release issued in connection with the
announcement, and the related conference call transcript are attached as Exhibit
Nos. 99.1 and 99.2, respectively, to this Current Report on Form 8-K.

The  information in this Current  Report on Form 8-K, and the Exhibits  attached
hereto shall not be deemed  "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange  Act"), or otherwise  subject to
the  liabilities  of that  section,  nor  shall  it be  deemed  incorporated  by
reference in any filing under the  Securities  Act of 1933,  as amended,  or the
Exchange  Act,  except as  expressly  set forth by specific  reference in such a
filing.

Use of Non-GAAP Financial Information

The  Registrant  uses the non-GAAP  measure of EBITDA in its earnings  releases.
EBITDA  is  defined  as  earnings  before  interest,   taxes,  depreciation  and
amortization.  Although  EBITDA is not a measure  of  performance  or  liquidity
calculated in accordance with generally accepted accounting principles ("GAAP"),
the  Registrant  believes  the  use of the  non-GAAP  financial  measure  EBITDA
enhances an overall understanding of the Registrant's past financial performance
as  well  as  providing  useful  information  to the  investor,  because  of its
historical  use by the  Registrant as both a performance  measure and measure of
liquidity,  and the use of EBITDA  by  virtually  all  companies  in the  gaming
equipment  sector as a  measure  of both  performance  and  liquidity.  However,
investors should not consider

                                  Page 2 of 24



this measure in isolation or as a substitute for net income,  operating  income,
cash flows from operating  activities or any other measure for  determining  the
Registrant's operating performance or liquidity that is calculated in accordance
with GAAP. In addition,  because  EBITDA is not  calculated  in accordance  with
GAAP, it may not necessarily be comparable to similarly titled measures employed
by other companies.  The Registrant has included a  reconciliation  of EBITDA to
the most comparable GAAP financial  measure,  net income,  in the attached press
release.

                                  Page 3 of 24



                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                         MULTIMEDIA GAMES, INC.



Dated:  December 2, 2003                 By:      /s/  Craig S. Nouis
                                                  ----------------------------
                                                  Craig S. Nouis
                                                  Chief Financial Officer and
                                                  Principal Accounting Officer

                                  Page 4 of 24



                                  EXHIBIT INDEX


Exhibit No.      Description
-----------      -----------

   99.1          Press Release, dated November 24, 2003, announcing fiscal year
                 2003 results

   99.2          Transcript of fiscal year 2003 results conference call

                                  Page 5 of 24