-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 EkBNRTSa9QQ9xl6tcsTjgrxmJyq0A1Mqm6bSWKFdar3iOkcvNEMTCkAJvDlbigYo
 VJfjRDTT6A3xff4trSOnCg==

<SEC-DOCUMENT>0001179110-06-024253.txt : 20061222
<SEC-HEADER>0001179110-06-024253.hdr.sgml : 20061222
<ACCEPTANCE-DATETIME>20061222195915
ACCESSION NUMBER:		0001179110-06-024253
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061220
FILED AS OF DATE:		20061222
DATE AS OF CHANGE:		20061222

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Carrette Elisabeth
		CENTRAL INDEX KEY:			0001317014

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23588
		FILM NUMBER:		061298111

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		0140738070

	MAIL ADDRESS:	
		STREET 1:		3 AVENUE DU PRESIDENT WILSON
		CITY:			PARIS
		STATE:			I0
		ZIP:			75116

	FORMER NAME:	
		FORMER CONFORMED NAME:	Carrette Elizabeth
		DATE OF NAME CHANGE:	20050208

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Gaming Partners International CORP
		CENTRAL INDEX KEY:			0000918580
		STANDARD INDUSTRIAL CLASSIFICATION:	GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944]
		IRS NUMBER:				880310433
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0531

	BUSINESS ADDRESS:	
		STREET 1:		1700 INDUSTRIAL ROAD
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89102
		BUSINESS PHONE:		7023842425

	MAIL ADDRESS:	
		STREET 1:		1700 INDUSTRIAL ROAD
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAUL SON GAMING CORP
		DATE OF NAME CHANGE:	19940203
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-12-20</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000918580</issuerCik>
        <issuerName>Gaming Partners International CORP</issuerName>
        <issuerTradingSymbol>GPIC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001317014</rptOwnerCik>
            <rptOwnerName>Carrette Elisabeth</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1700 INDUSTRIAL ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LAS VEGAS</rptOwnerCity>
            <rptOwnerState>NV</rptOwnerState>
            <rptOwnerZipCode>89102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>352</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2006-12-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.40</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3977216</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Estate of Francios Carrette</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Option/Right to Buy</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.40</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-12-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2006-12-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Estate of Francois Carrette</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeHolding>
            <securityTitle>
                <value>Option/Right to Buy</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.81</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-01-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On December 20, 2006, pursuant to the terms of options granted to Mr. Francois Carrette under Gaming Partners International Corporation's (the &quot;Company's&quot;) 1994 Long-Term Incentive Plan (the &quot;Plan&quot;), Mrs. Carrette exercised her rights (indirectly through the estate of Mr. Carrette) to purchase 4,000 shares of common stock of the Company at an exercise price of $3.40 per share.  As previously reported, on September 12, 2002, the Company granted Mr. Carrette the options to purchase 6,000 shares of the Company's common stock pursuant to the Plan.  The grant was exempt under Rule 16b-3.  The options were subject to vesting in equal installments over a three-year period with the first one-third vesting on September 12, 2003. At the time of Mr. Carrette's death on December 24, 2004, the options were fully vested and exercisable as to 4,000 shares.</footnote>
        <footnote id="F2">As previously reported, on January 27, 2005, the Company granted Mrs. Carrette options to purchase 6,000 shares of the Company's common stock pursuant to the Plan.  The grant was exempt under Rule 16b-3.  The options vest in equal installments over a three-year period with the first one-third installment vesting on January 27, 2006.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Mary Diaz by power of attorney for Elisabeth Carrette</signatureName>
        <signatureDate>2006-12-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----