Form 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 OMB APPROVAL OMB Number: 3235-0104 Expires: January 31, 2005 Estimated average burden hours per response...0.5 (Print or Type Responses) 1. Name and Address of Reporting Person* Carrette, Francois 2. Date of Event Requiring Statement (Month/Day/Year) 9/12/02 4. Issuer Name and Ticker or Trading Symbol Paul-Son Gaming Corporation PSON (Last) (First) (Middle) c/o Holding Wilson 3 Avenue du President Wilson (Street) 75116 Paris, France 3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _x_ Director _x_ 10% Owner _x_ Officer (give title below) __ Other (specify below) _Chairman of the Board_______ 6. If Amendment, Date of Original (Month/Day/Year) (City) (State) (Zip) 7. Individual or Joint/Group Filing (Check Applicable Line) _x_ Form filed by One Reporting Person __ Form filed by More than One Reporting Person Table I - Non-Derivative Securities Beneficially Owned 1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 15,736 Direct Common Stock 336 Indirect By Spouse Common Stock 3,793,013 Indirect By Holding Wilson Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 4) 2. Date Exer- cisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conver- sion or Exercise Price of Deri- vative Security 5. Owner- ship Form of Deriv- ative Securities: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5) Date Exer- cisable Expira- tion Date Title Amount or Number of Shares Warrants (1) (1) Common Stock 26 $.01 Direct Warrants (1) (1) Common Stock 26 $.01 Indirect By Spouse Warrants (1) (1) Common Stock 299,010 $.01 Indirect By Holding Wilson Option 9/12/03(2) 9/12/13 Common Stock 6,000(2) $3.40_____ Direct (right to buy) (1) The Warrants were issued on September 12, 2002 pursuant to the Agreement and Plan of Exchange dated April 11, 2002 between the Issuer and Etablissements Bourgogne et Grasset SA ("B&G") as part of the consideration for the exchange of shares in B&G. The Warrants were intended to provide "antidilution" protection against options and similar rights granted by the Issuer prior to the closing of the exchange which are exercised after the closing and against ecurities issued to the Issuer's investment banker as a result of the closing. Thus, the Warrants are only exercisable if, as and when these options or rights are exercised or such securities issued. The Warrants will expire 30 days after the Issuer notifies the Warrant holder that the last of those options or rights have expired. (2) The option was granted under the Issuer's 1994 Director's Stock Option Plan and vests over a three-year period, 2,000 shares per year. Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Explanation of Responses: Francois Carrette **Signature of Reporting Person September 17, 2002 Date * If the form is filed by more than one reporting person, see Instruction 5(b)(v). ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.