Exhibit 10.29

Consulting Agreement between the Registrant and Telex, Inc.
dated March 27, 1995.

                                     
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                        INDEPENDENT CONTRACTOR AGREEMENT

     THE AGREEMENT is made and entered into as of this ______ day of March, 1995
by and  between  Debbie  Reynolds  Hotel &  Casino,  Inc.  ("Client"),  with its
principal  place of business in Las Vegas,  Nevada,  and Telex,  a Nevada  trust
("Telex"), an independent contractor, with its place of business at ____________
__________.

                                    RECITALS

     WHEREAS, Client is engaged in the Timeshare, Hotel Industry.

     WHEREAS,  Telex is in the business of providing general business consulting
services, including strategic business planning services, to companies,

     WHEREAS,  in the operation of Client's  business,  Client is in need of the
services  which Telex  provides and wishes to enter into a business  arrangement
with Telex to provide such services.

     IN CONSIDERATION of the promises and mutual covenants hereby contained,  it
is hereby agreed as follows:

                                   AGREEMENTS

1.   Terms of Contract

     This Agreement  will become  effective on March 27, 1995 and will continue
in effect for a period of six (6) months,  unless earlier terminated pursuant to
Section 5 of this Agreement,

2.   Services to be Performed by Contractor

     2.1 Specific  Services Telex agrees to provide general business  consulting
services, including strategic business planning services, to Client.

     2.2  Independent  Contractor  Status.  It is the express  intention  of the
parties that Telex be an  independent  contractor  and not an  employee,  agent,
joint venturer or partner of Client. Client shall have no right to and shall not
control  the  manner  or  prescribe  the  method  by which  Telex  performs  the
above-described services, Telex shall be entirely and solely responsible for its
own actions and the actions of its agents,  employees or partners  while engaged
in the  performance  of  services  required by this  Agreement.  Nothing in this
Agreement  shall be  interpreted  or construed as creating or  establishing  the
relationship  of employer and employee  between Client and Telex or any employee
or agent of Telex.  Both parties  acknowledge  that Telex is not an employee for
state or federal income tax purposes and


                                 
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Telex specifically agrees that it shall be exclusively liable for the payment of
all income taxes, or other state or federal charges, that are due as a result of
receipt of any  consideration  for the  performance of service  required by this
Agreement.  Telex  agrees  that  any  such  consideration  is  not  subject  to
withholding  by the Client for payment of any taxes and Telex directs Client not
to  withhold  any sums for the  consideration  paid to  Telex  for the  services
provided hereunder.  Telex shall retain the right to perform services for others
during the term of this Agreement,

     2.3 Use of Employees of Contractor.  Telex may, at Telex's own expense, use
any employees or subcontractors as Telex deems necessary to perform the services
required of Telex by this Agreement. Client may not control, direct or supervise
Telex's employees or subcontractors in the performance of those services.

     2.4 Expense. Telex shall be responsible for all costs and expenses incident
to the  performance of services  required by this  Agreement,  including but not
limited to, the cost of materials used by Telex, travel, fees, fines,  licenses,
bonds and taxes required of, or imposed against Telex,  and all other of Telex's
costs of doing business.

3.   Compensation

     3.1 Stock Client and Telex agree that Telex shall receive  37,777 shares of
Client's  tradeable  common stock to be delivered to Telex after this  agreement
has been executed.

4.   Obligations of Client.

     4.1  Cooperation.  Client shall comply with all reasonable  requirements of
Telex  and  provide  access  to  all  documents   reasonably  necessary  to  the
performance of Telex's duties under this Agreement.

5.   Termination of Agreement

     5.1  Termination  on Notice.  Notwithstanding  any other  provision of this
Agreement,  either  party may  terminate  this  Agreement  at any time by giving
thirty (30) days written notice to the other party. Unless otherwise  terminated
as provided in  this  Agreement,  this  Agreement  will  continue in force for a
period of six (6) months.

     5.2  Termination  on  Occurrence  of  Stated  Event.  This  Agreement  will
terminate automatically on the occurrence of the following event:

               (a)   bankruptcy or insolvency of either party.


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6.   General Provisions

     6.1 Further Acts. Each party agrees to perform any further acts and execute
and deliver any further documents that may be reasonably  necessary to carry out
the provisions and intent of this Agreement.

     6.2 Entire Agreement.  This Agreement contains the entire  understanding of
the parties hereto with respect to the subject matter  contained  herein and may
be amended only by a written  instrument signed by the parties affected thereby,
or their respective successors or assigns. This Agreement cancels and supersedes
all prior agreements, if any, oral or written, among Client and Telex.

     6.3 Severability.  If any provision of this Agreement shall be held invalid
such invalidity shall not affect the other provisions hereof, and to this extent
the  provisions  of this  Agreement  are  intended  to be and  shall  be  deemed
severable.

     6.4 Counterparts.  This Agreement may be executed  simultaneously in two or
more  counterparts,  each of which shall be deemed an original  but all of which
together shall constitute one and the same instrument,

     6.5 Notices. Any notice or other communication  required or permitted under
this Agreement  shall be sufficiently  given if delivered  personally or sent by
registered or certified mail, postage prepaid and return receipt  requested,  to
the address of the parties set forth in the first paragraph of this Agreement or
at such  address as may have been  provided in like manner in writing to both of
the  parties  to this  Agreement.  Any  notice  that is sent by mail  under this
Agreement  shall be  considered  received  on the  date on which it is  actually
delivered  to the premises of the party to whom it is properly  addressed,  such
date to be conclusively evidenced by the date of the return receipt.

     6.6 Governing  Law. This Agreement  shall be construed in accordance  with,
and governed by the laws of the State of Nevada.

     6.7 Assignment. No party to this Agreement may assign this Agreement or its
right or obligations hereunder without the written consent of the others.

     6.8 Headings.  The headings of this  Agreement are inserted  solely for the
convenience  of  reference  and are not part of, and are not intended to govern,
limit or aid in the construction of any term or provision hereof

     6.9 Pronouns.  All pronouns and any  variations  thereof shall be deemed to
refer to the masculine,  feminine or neuter, singular or plural, as the identity
of the person, persons, entity or entities may require.



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     6.10 Waiver.  No waiver of any of the provisions of this Agreement shall be
deemed,  or shall  constitute  a waiver of any other  provisions,  nor shall any
waiver  constitute  a  continuing  waiver.  No waiver  shall be  binding  unless
executed in writing by the party making, the waiver.

     6.11 Acknowledgment Concerning Counsel. Each party acknowledges that it had
the opportunity to employ  separate and independent  counsel of its own choosing
in connection with this Agreement.

     6.12  Arbitration.  Any  controversy,  claim,  misunderstanding,  course of
action,  matter in question,  breach,  disagreement,  dispute,  or other related
matter  arising  out of, or  relating  to this  Agreement,  or the  relationship
between the parties,  shall be decided by mandatory binding  arbitration  before
the American Arbitration  Association in Las Vegas, Nevada. In such arbitration,
the parties shall be entitled to the full discovery rights accorded to litigants
under the Laws of Nevada.  The prevailing party shall be entitled to recover all
costs and expenses incurred,  including its reasonable  attorney's fees, related
costs, and any advanced arbitration expenses.

     6.13  Indemnification.  Telex and its  principles,  will indemnify and hold
harmless Client and its officers,  directors,  agents and employees  against any
and all losses, or liabilities,  including  reasonable  attorneys fees and costs
and expenses,  which may be incurred by Client as a result of statements made by
Telex which are inaccurate or misleading or the failure by Telex to state facts,
which  are  necessary  to be  stated  in  order  to  make  statements  made  not
misleading.

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

                         DEBBIE REYNOLDS HOTEL & CASINO, INC.

                         By:  /S/ Donald Granatstein
                              -------------------------
                         Its: Executive Vice President
                              -------------------------

                         TELEX

                         By:
                              -------------------------

                         Its:
                              -------------------------



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