<PAGE>

                                                                   EXHIBIT 10.18
                                       
                             INDEMNIFICATION AGREEMENT

     This Indemnification Agreement (this "Agreement") is made as of this 
_____ day of __________, 199_, by and between HARVEYS CASINO RESORTS, a 
Nevada corporation (the "Company"), and ________ ("Indemnitee").

     WHEREAS, the Company and Indemnitee recognize the difficulty in 
obtaining directors' and officers' liability insurance, the substantial cost 
of such insurance and the limitations in the coverage of such insurance;
     
     WHEREAS, the Company and Indemnitee further recognize the substantial 
level of corporate litigation in general, subjecting officers, directors and 
key employees to expensive litigation risks while the availability and 
coverage of liability insurance is severely limited;

     WHEREAS, the Company desires to attract and retain the services of 
highly qualified individuals, such as Indemnitee, to serve as officers, 
directors and key employees of the Company and to indemnify its officers, 
directors and key employees so as to provide them with the maximum protection 
permitted by law.

     NOW, THEREFORE, for good and valuable consideration, the receipt of 
which is hereby acknowledged, the Company and Indemnitee hereby agree as 
follows:

     l.   INDEMNIFICATION.

          (a)  THIRD PARTY PROCEEDINGS.  The Company shall indemnify 
Indemnitee if Indemnitee is or was a party or is threatened to be made a 
party to or is involved in any action, suit or proceeding, whether civil, 
criminal, administrative, or investigative, (other than an action by or in 
the right of the Company) by reason of the fact that Indemnitee or a person 
of whom Indemnitee is the legal representative is or was a director, officer, 
employee, or agent of the Company, or any subsidiary of the Company, by 
reason of any action or inaction on the part of the Indemnitee while an 
officer, director, or key employee, or by reason of the fact that Indemnitee 
is or was serving at the request of the Company as an officer, director, 
employee or agent of another corporation, partnership, joint venture, trust 
or other enterprise, to the fullest extent permitted by law, against all 
expenses, liability and loss (including attorney fees, judgments, fines and 
amounts paid or to be paid in settlement) reasonably incurred or suffered by 
Indemnitee in connection with the action, suit or proceeding. 

The indemnification above provided shall include, but not be limited to, 
reimbursement of all fees, including amounts paid in settlement and 
attorneys' fees actually and reasonably incurred, in connection with the 
defense or settlement of any action or suit if 


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<PAGE>

Indemnitee acted in good faith and in a manner Indemnitee reasonably believed 
to be in or not opposed to the best interests of the company, and, with 
respect to any criminal action or proceeding, had no reasonable cause to 
believe Indemnitee's conduct was unlawful.  The termination of any action, 
suit or proceeding by judgment, order, settlement, conviction or upon a plea 
of nolo contendere or its equivalent, shall not, of itself, create a 
presumption that Indemnitee reasonably believed to be in or not opposed to 
the best interests of the Company, and that with respect to any criminal 
action or proceeding, he or she had no reasonable cause to believe that 
Indemnitee's conduct was unlawful.

          (b)  PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY.  The Company 
shall indemnify Indemnitee if Indemnitee was or is a party or is threatened 
to be made a party to or is involved in any action, suit, or proceeding by or 
in the right of the Company or any subsidiary of the Company to procure a 
judgment in its favor by reason of the fact that Indemnitee or a person of 
whom indemnitee is the legal representative is or was a director, officer, 
employee or agent of the Company or any subsidiary of the Company, by reason 
of any action or inaction on the part of Indemnitee while an officer or 
director or by reason of the fact that Indemnitee is or was serving at the 
request of the Company as a director, officer, employee or agent of another 
corporation, partnership, joint venture, trust or other enterprise, to the 
fullest extent permitted by law, against all expenses, liability and loss 
(including attorneys fees, judgments, fines and amounts paid in settlement) 
in each case, to the extent actually and reasonably incurred by Indemnitee in 
connection with the defense or settlement of such action, suit, or proceeding 
if Indemnitee acted in good faith and in a manner Indemnitee reasonably 
believed to be in  or not opposed to the best interests of the Company and 
its shareholders, except that no indemnification shall be made in respect of 
any claim, issue or matter as to which Indemnitee shall have been adjudged by 
a court of competent jurisdiction, after exhaustion of all appeals therefrom 
to be liable to the Company or for amounts paid in settlement to the Company 
in the performance of Indemnitee's duty to the Company and its shareholders 
unless and only to the extent that the court in which such action, suit or 
proceeding is or was pending shall determine upon application that, in view 
of all of the circumstances of the case, Indemnitee is fairly and reasonably 
entitled to indemnity for such expenses as the court deems and then only to 
the extent that the court shall determine.

     2.   EXPENSES; INDEMNIFICATION PROCEDURE.

          (a)  ADVANCEMENT OF EXPENSES.  The Company shall advance all 
expenses incurred by Indemnitee in connection with the investigation, 
defense, settlement or appeal of any civil or criminal action or proceeding 
referenced in Section 1(a) or (b) hereof (but not amounts actually paid in 
settlement of any such action or proceeding) and to the extent consistent 
with the Restated Articles of Incorporation and Bylaws of the Company.  
Indemnitee hereby undertakes to repay such amounts advanced if, and to the 
extent that, it shall ultimately be determined by a court of competent 
jurisdiction that Indemnitee is not entitled to be indemnified by the Company 
as authorized hereby.  The advances to be made hereunder shall be  paid by 
the Company to Indemnitee within twenty (20) days following delivery of a 
written request therefor by Indemnitee to the

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Company.

          (b)  NOTICE/COOPERATION BY INDEMNITEE.  Indemnitee shall, as a 
condition precedent to Indemnitee's right to be indemnified under this 
Agreement, give the Company notice in writing as soon as practicable of any 
claim made against Indemnitee for which indemnification will or could be 
sought under this Agreement. Notice to the Company shall be directed to the 
President/Chief Executive Officer of the Company, with a copy to the 
Company's general counsel, at the addresses shown on the signature page of 
this Agreement (or such other address as the Company shall designate in 
writing to Indemnitee).  Notice shall be deemed received three business days 
after the date postmarked if sent by domestic, certified or registered mail, 
properly addressed; otherwise notice shall be deemed received when such 
notice shall actually be received by said parties.  In addition, Indemnitee 
shall give the company such information and cooperation as it may reasonably 
require as shall be within Indemnitee's power.

          (c)  PROCEDURE.  Any indemnification provided for in Section 1 
shall be made no later than forty-five (45) days after receipt of the written 
request of Indemnitee.  If a claim under this Agreement, under any statute or 
under any provision of the Company's Restated Articles of Incorporation or 
Bylaws providing for indemnification is not paid in full by the Company 
within forty-five (45) days after a written request for payment therefor has 
first been received by the company, then Indemnitee may, but need not, at any 
time thereafter bring an action against the Company to recover the unpaid 
amount of the claim and, subject to Section 14 of this Agreement, Indemnitee 
shall also be entitled to be paid for the expenses (including attorneys' 
fees) of bringing such action.  It shall be a defense to any such action 
(other than an action brought to enforce a claim for expenses incurred in 
connection with any action or proceeding in advance of its final disposition) 
that Indemnitee has not met the standards of conduct which make it 
permissible under applicable law or this Agreement for the Company to 
indemnify Indemnitee for the amount claimed, but the burden of proving such 
defense shall be on the Company, and Indemnitee shall be entitled to receive 
interim payments of expenses pursuant to Subsection 3(a) unless and until 
such defense may be finally adjudicated by court order or judgment from which 
no further right of appeal exists.  It is the parties intention that if the 
Company contests Indemnitee's right to indemnification, the question of 
Indemnitee's right to indemnification shall be for the court to decide, and 
neither the failure of the Company (including its Board of Directors, any 
committee or subgroup of its Board of Directors, its independent legal 
counsel or its shareholders) to have made a determination that 
indemnification of Indemnitee is proper in the circumstances because 
Indemnitee has met the applicable standard of conduct required by the 
applicable law or this Agreement, nor an actual determination by the Company 
(its Board of Directors, any committee or subgroup, its Board of Directors, 
its independent legal counsel or its shareholders) that Indemnitee has not 
met such applicable standard of conduct, shall create a presumption that 
Indemnitee has or has not met the applicable standard of conduct.

          (d)  NOTICE TO INSURERS.  If, at the time of the receipt of a 
notice of a claim pursuant to section 3(b) hereof, the Company has director 
and officer liability insurance in effect, then the Company shall give prompt 
notice of the commencement of such proceeding to the insurers in accordance 
with the procedures set forth in the respective policies.  The Company shall 
thereafter 


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<PAGE>

take all necessary or appropriate action to cause such insurers to pay, on 
behalf of Indemnitee, all amounts payable as a result of such proceeding in 
accordance with the terms of such policies.

          (e)  SELECTION OF COUNSEL.  If the Company shall be obligated under 
Section 3(a) hereof to pay the expenses of any proceeding against Indemnitee, 
then the Company, if appropriate, shall be entitled to assume the defense of 
such proceeding, with counsel approved by Indemnitee, which approval shall 
not be unreasonably withheld, upon the delivery to Indemnitee of written 
notice of its election so to do.  After delivery of such notice, approval of 
such counsel by Indemnitee and the retention of such counsel by the Company, 
the Company will not be liable to Indemnitee under this Agreement for any 
fees of counsel subsequently incurred by Indemnitee with respect to the same 
proceeding, provided, that (i) Indemnitee shall have the right to employ 
Indemnitee's counsel in any such proceeding at Indemnitee's expense; and 
(ii) if (A) the employment of counsel by Indemnitee has been previously 
authorized by the Company, (B) Indemnitee shall have reasonably concluded 
that there may be a conflict of interest between the Company and Indemnitee 
in the conduct of any such defense or (C) the Company shall not have employed 
counsel to assume the defense of such proceeding, then the fees and expenses 
of Indemnitee's counsel shall be at the expense of the Company.

     3.   ADDITIONAL INDEMNIFICATION OF RIGHTS; NONEXCLUSIVITY.

          (a)  SCOPE.  Notwithstanding any other provision of this Agreement, 
the Company hereby agrees to indemnify Indemnitee to the fullest extent 
permitted by law, notwithstanding that such indemnification is not 
specifically authorized by the other provisions of this Agreement, the 
Company's Restated Articles of Incorporation, the Company's Bylaws or by 
statute.  In the event of any change, after the date of this Agreement, in 
any applicable law, statute or rule which expands the right of a Nevada 
corporation to indemnify a member of its board of directors or an officer, 
such changes shall be, ipso facto, within the purview of Indemnitee's rights 
and Company's obligations, under this Agreement.  In the event of any change 
in any applicable law, statute or rule which narrows the right of a Nevada 
corporation to indemnify a member of its Board of Directors or an officer, 
such statute or rule to be applied to this Agreement shall have no effect on 
this Agreement or the parties, rights and obligations hereunder.

          (b)  NONEXCLUSIVITY.  The indemnification provided by this 
Agreement shall not be deemed exclusive of any rights to which Indemnitee may 
be entitled under the Company's Restated Articles of Incorporation, its 
Bylaws, any agreement, any vote of shareholders or disinterested directors, 
the Private Corporation Law of the State of Nevada or otherwise, both as to 
action in Indemnitee's official capacity and as to action in another capacity 
while holding such office.  The indemnification provided under this Agreement 
shall continue as to the Indemnitee for any action taken or not taken while 
serving in an indemnified capacity even though Indemnitee may have ceased to 
serve in such capacity at the time of any action or other covered proceeding.

     4.   PARTIAL INDEMNIFICATION.  If Indemnitee is entitled under any 
provision of this Agreement to indemnification by the Company for some or a 
portion of the expenses, judgments, 


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<PAGE>

fines, penalties actually or reasonably incurred by Indemnitee on 
investigation, defense, appeal or settlement of any civil or criminal action 
or proceeding, but not, however, for the total amount thereof, the Company 
shall nevertheless indemnify Indemnitee for the portion of such expenses, 
judgments, fines or penalties to which Indemnitee is entitled.

     5.   MUTUAL ACKNOWLEDGMENT.  Both the Company and Indemnitee acknowledge 
that in certain instances, federal law or applicable public policy may 
prohibit the Company from indemnifying its directors and officers under this 
Agreement or otherwise.  Indemnitee understands and acknowledges that the 
Company has undertaken or may be required in the future to undertake with the 
Securities and Exchange Commission to submit the question of indemnification  
to a court in certain circumstances for a determination of the Company's 
right under public policy to indemnify Indemnitee.

     6.   DIRECTORS' AND OFFICERS' LIABILITY INSURANCE.  The Company shall, 
from time to time, make the good faith determination whether or not it is 
practicable for the Company to obtain and maintain a policy or policies of 
insurance with reputable insurance companies providing the officers and 
directors of the Company with coverage for losses from wrongful acts, or to 
ensure the Company's performance of its indemnification obligations under 
this Agreement.  Among other considerations, the Company will weigh the costs 
of obtaining such insurance coverage against the protection afforded by such 
coverage.  Notwithstanding the foregoing, the Company shall have no 
obligation to obtain or maintain such insurance if the Company determines in 
good faith that such insurance is not reasonably available, if the premium 
costs for such insurance are  disproportionate to the amount of coverage 
provided, if the coverage provided by such insurance is limited by exclusions 
so as to provide an insufficient benefit or if Indemnitee is covered by 
similar insurance maintained by a subsidiary or parent of the Company.

     7.   SEVERABILITY.  Nothing in this Agreement is intended to require or 
shall be construed as requiring the Company to do or fail to do any act in 
violation of applicable law.  The Company's inability, pursuant to court 
order, to perform its obligations under this Agreement shall not constitute a 
breach of this Agreement. The provisions of this Agreement shall be severable 
as provided in this Section 8. If this Agreement or any portion hereof shall 
be invalidated on any ground by any court of competent jurisdiction, then the 
Company shall nevertheless indemnify Indemnitee to the full extent permitted 
by any applicable portion of this Agreement that shall not have been 
invalidated, and the balance of this Agreement shall not have been so 
invalidated and the balance of this Agreement not so invalidated shall be 
enforceable in accordance with its terms.

     8.   EXCEPTIONS.  Any other provision herein to the contrary 
notwithstanding, the Company shall not be obligated pursuant to the terms of 
this Agreement:

          (a)  EXCLUDED ACTS.  To indemnify Indemnitee for any acts or 
omissions or transactions from which a director or officer may not be 
relieved of liability under the Nevada General Corporation Law;


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<PAGE>

          (b)  CLAIMS INITIATED BY INDEMNITEE.  To indemnify or advance 
expenses to Indemnitee with respect to proceedings or claims initiated or 
brought voluntarily by Indemnitee and not by way of defense, except with 
respect to proceedings brought to establish or enforce a right to 
indemnification under this Agreement or any other statute or law or otherwise 
as required under Section 78.751 of the Nevada General Corporation Law or the 
Restated Articles of Incorporation or Bylaws of the Company, but such 
indemnification or advancement of expenses may be provided by the Company in 
specific cases if the Board of Directors has approved the initiation or 
bringing of such suit;

          (c)  LACK OF GOOD FAITH.  To indemnify Indemnitee for any expenses 
incurred by Indemnitee with respect to any proceedings instituted by 
Indemnitee to enforce or interpret this Agreement, if a court of competent 
jurisdiction determines that each of the material assertions made by 
Indemnitee in such proceeding was not made in good faith or was frivolous;

          (d)  INSURED CLAIMS.  To indemnify Indemnitee for expenses or 
liabilities of any type whatsoever (including judgments, fines, ERISA excise 
taxes or penalties and amounts paid in settlement) which have been paid 
directly to Indemnitee by an insurance carrier under a policy of director and 
officer liability insurance maintained by the Company; or

          (e)  CLAIMS UNDER SECTION 16(b).  To indemnify Indemnitee for 
expenses and the payment of profits arising from the purchase and sale by 
Indemnitee of securities in violation of Section 16(b) of the Securities 
Exchange Act of 1934, as amended, or any similar successor statute.

      9.  EFFECTIVENESS OF AGREEMENT.  To the extent that the indemnification 
permitted under the terms of certain provisions of this Agreement exceeds the 
scope of the indemnification provided for in the Nevada General Corporation 
Law, such provisions shall not be effective unless and until the Company's 
Restated Articles of Incorporation or Bylaws authorize such additional rights 
of indemnification. In all other respects, the balance of this Agreement 
shall be effective as of the date set forth on the first page and may apply 
to acts or omissions of Indemnitee which occurred prior to such date if 
Indemnitee was an officer, director, employee or other agent of the Company, 
or was serving at the request of the Company as a director, officer, employee 
or agent of another corporation, partnership, joint venture, trust or other 
enterprise at the time such act or omission occurred.

     10.  CONSTRUCTION OF CERTAIN PHRASES.

          (a)  For purposes of this Agreement, references to "Company" shall 
include, in addition to the resulting corporation, any constituent 
corporation (including any constituent of a constituent) absorbed in a 
consolidation or merger which, if its separate existence had continued, would 
have had power and authority to indemnify its directors, officers, employees 
or agents, so that if Indemnitee is or was a director, officer, employee, or 
agent of such constituent corporation or is or was serving at the request of 
such constituent corporation as a director, officer, employee, or agent of 
another corporation, partnership, joint venture, trust or other enterprise, 
then Indemnitee shall 


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<PAGE>

stand in the same position under the provisions of this Agreement with 
respect to the resulting or surviving corporation as Indemnitee would have 
with respect to such constituent corporation if its separate existence had 
continued.

          (b)  For purposes of this Agreement, references to "other 
enterprises" shall include employee benefit plans; references to "fines" 
shall include any excise taxes assessed on Indemnitee with respect to an 
employee benefit plan; and references to "serving at the request of the 
Company": shall include any service as a director, officer, employee or agent 
of the Company which imposes duties on, or involves services by, such 
director, officer, employee or agent with respect to an employee benefit 
plan, its participants or its beneficiaries.

     11.  COUNTERPARTS.  This Agreement may be executed in one or more 
counterparts, each of which shall constitute an original, and all of which 
shall constitute one and the same agreement.

     12.  SUCCESSORS AND ASSIGNS.  This Agreement shall be binding upon and 
inure to the benefit of and be enforceable by the parties hereto and their 
respective successors, assigns, including any direct or indirect successor by 
purchase, merger, consolidation or otherwise to all or substantially all of 
the business and/or assets of the Company, spouses, heirs, and personal and 
legal representatives.  The Company shall require and cause any successor 
(whether direct or indirect by purchase, merger, consolidation or otherwise) 
to all or substantially all, or a substantial part of the business or assets 
of the Company, by written agreement in the form and substance satisfactory 
to Indemnitee, expressly to assume and agree to perform this Agreement in the 
same manner and to the same extent that the Company would be required to 
perform if no such succession had taken place.  This Agreement shall continue 
in effect regardless of whether Indemnitee continues to serve as a director, 
officer, or agent of the Company or of any other enterprise at the Company's 
request.

     13.  ATTORNEYS FEES.  In the event that any action is instituted by the 
Indemnitee under this Agreement to enforce or interpret any of the terms 
hereof, Indemnitee shall be entitled to be paid all court costs and expenses, 
including reasonable attorneys' fees, incurred by Indemnitee with respect to 
such action, unless as a part of such action, the court determines that each 
of the material assertions made by Indemnitee as a basis for such action were 
not made in good faith or were frivolous.  In the event of an action 
instituted by or in the name of the Company under this Agreement or to 
enforce or interpret any of the terms of this Agreement, Indemnitee shall be 
entitled to be paid all court costs and expenses, including attorneys fees, 
incurred by Indemnitee in defense of such action (including with respect to 
Indemnitee's counterclaims and cross-claims made in such action), unless as a 
part of such action the court determines that each of Indemnitee's material 
defenses to such action were not made in good faith or were frivolous.  In 
the event of an action instituted by or in the name of the company under this 
Agreement or to enforce or interpret any of the terms of this Agreement, 
Indemnitee shall be entitled to be paid all court costs and expenses, 
including attorneys' fees, incurred by Indemnitee in defense of such action 
(including with respect to Indemnitee's counterclaims and cross-claims made 
in such action), unless as a part of such action, the court determines that 
each of Indemnitee's material defenses to such action were not made in 


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good faith or were frivolous.

     14.  NOTICE.  All notices, requests, demands and other communications 
under this Agreement shall be in writing and shall be deemed duly given (i) 
if delivered by hand and receipted for by the party addressee on the date of 
such receipt, or (ii) if mailed by domestic certified or registered mail with 
postage prepaid on the third business day after the date postmarked.  
Addresses for notice to either party are as shown on the signature page of 
this Agreement, or as subsequently modified by written notice.

     15.  CONSENT TO JURISDICTION.  The Company and Indemnitee each hereby 
irrevocably consent to the jurisdiction and venue of the courts of the County 
of Douglas, State of Nevada for all purposes in connection with any action or 
proceeding which arises out of or relates to this Agreement.

     16.  CHOICE OF LAW.  This Agreement shall be governed by and its 
provisions construed in accordance with the laws of the State of Nevada.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as 
of the date first above-written.

                              HARVEYS CASINO RESORTS
                              Post Office Box 128
                              Stateline, Nevada 89449


                              By:________________________________
                                 ________________________________
                                 Chairman of the Board

                              With a copy to:

                              RONALD D. ALLING    
                              SCARPELLO & ALLING, LTD.
                              Post Office Box 3390
                              Lake Tahoe, Nevada 89449-3390

AGREED TO AND ACCEPTED:       INDEMNITEE:

                              ___________________________________
                              
                              Address:___________________________
                              ___________________________________


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               SCHEDULE OF INDEMNITIES AS OF NOVEMBER 30, 1997  



Gary D. Armentrout            William Ledbetter   
Edward B. Barraco             John McLaughlin
John R. Bellotti              James J. Rafferty
John Brower                   Charles W. Scharer
Stephen L. Cavallaro          Kevin Servatius
John Hewitt                   Verne Welch
David J. Hurst                Thomas Yturbide
Louis R. Kelmanson            And past members of the 
                                 Board of Directors since 11/29/93