Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  PEARLMAN EMANUEL R
 2. Date of Event Requiring Statement (Month/Day/Year)
10/24/2006		 3. Issuer Name and Ticker or Trading Symbol
MULTIMEDIA GAMES INC [MGAM]
(Last)
(First)
(Middle)
330 MADISON AVENUE, 6TH FLOOR, 		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10017		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
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, $0.01 par value per share 2,311,327
I
See footnotes (1) (2) (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
PEARLMAN EMANUEL R
330 MADISON AVENUE, 6TH FLOOR
NEW YORK, NY 10017		   X      
LIBERATION INVESTMENTS LP
330 MADISON AVENUE, 6TH FLOOR
NEW YORK, NY 10017		       see footnotes (1) (2) (3)
Liberation Investments, Ltd.
P.O. BOX 31106 SMB CORPORATE CENTRE
WEST BAY ROAD
GRAND CAYMAN, E9 		       see footnotes (1) (2) (3)
LIBERATION INVESTMENT GROUP LLC
330 MADISON AVENUE, 6TH FLOOR
NEW YORK, NY 10017		       see footnotes (1) (2) (3)

Signatures

Emanuel R. Pearlman 11/02/2006
**Signature of Reporting Person Date
Emanuel R. Pearlman, Chief Executive Officer (Liberation Investments, L.P., By: Liberation Investment Group, LLC, General Partner) 11/02/2006
**Signature of Reporting Person Date
Emanuel R. Pearlman, Director (Liberation Investments Ltd) 11/02/2006
**Signature of Reporting Person Date
Emanuel R. Pearlman, Chief Executive Officer (Liberation Investment Group, LLC) 11/02/2006
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) This is a joint filing by Liberation Investments, L.P. ("LILP"), Liberation Investments, Ltd. ("LILtd"), Liberation Investment Group, LLC ("LIGLLC") and Emanuel R. Pearlman (collectively, the "Reporting Persons"). Mr. Pearlman is the designated filer. LILP directly owns 1,543,418 shares of common stock, $0.01 par value per share (the "Common Stock"), of Multimedia Games, Inc. (the "Issuer") and LILtd directly owns 767,909 shares of Common Stock. LIGLLC, as the sole general partner of LILP and the sole investment advisor to LILtd, may be deemed to beneficially own 2,311,327 shares of Common Stock. Mr. Pearlman, as the Chief Executive Officer and majority member of LIGLLC, may be deemed to beneficially own 2,311,327 shares of Common Stock. (continued in footnote 2)
(2) (continued from footnote 1) Each Reporting Person disclaims beneficial ownership of Common Stock owned by the other Reporting Persons, and this filing shall not be deemed an admission that any Reporting Person beneficially owns Common Stock owned by the other Reporting Persons, except to the extent of its pecuniary interest.
(3) The Reporting Persons may be deemed members of a group holding equity securities of the Issuer. Each Reporting Person disclaims membership in a group, and this filing shall not be deemed an admission that the Reporting Persons constitute a group. Mr. Pearlman is a member of the Issuer's board of directors. As a result thereof and the relationship among the Reporting Persons, each of LILP, LILtd and LIGLLC may be deemed to be a director of the Issuer for purposes of Section 16. This filing shall not be deemed to be an admission by any such entity that it is a director of the Issuer.

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