**Exhibit10.2**

**EXECUTIVEEMPLOYMENT AGREEMENT**

**(“Agreement”)**

EXECUTIVEEMPLOYMENT AGREEMENT, effective October 31, 2006 (“Effective Date”), by andbetween 155 E. Tropicana LLC (the “Company”) and Michael J. Hessling (the “Executive”).

**PREAMBLE**

Per Section 9.2 ofthe Amended and Restated Operating Agreement of 155 East Tropicana LLC, certaindecisions are entitled “Unanimous Board Decisions”. The Management Board shallhave the power and authority, upon the affirmative vote or written consent ofall of the Board members to make certain decisions including the following:

1) Establishpolicies, job descriptions, salaries, and terms of employment, procedures andguidelines for the Chief Executive Officer, Chief Operating Officer and ChiefFinancial Officer of the Company to follow and have the sole authority to offera job to any Person for either position and to fire or otherwise terminate suchPerson, and

2) Establish anyOfficers of the Company and to delegate to such officers management andoperational responsibilities, including the power and authority to bind theCompany and appoint Persons to act as such officers and remove Persons therefrom.

On August 16th, 2004, by unanimous writtenconsent, the Management Board appointed Michael J. Hessling as Chief OperatingOfficer of the Company.

WHEREAS, theCompany desires that Executive resign as Chief Operating Officer, but desiresto employ the Executive as President, and the Executive desires to be soemployed by the Company, from and after the date of this Agreement.

NOW, THEREFORE, inconsideration of the mutual covenants contained herein, the parties agree asfollows:

**ARTICLE I**

**EMPLOYMENTDUTIES AND BENEFITS**

**Section1.1**            **Employment**.

The Company herebyemploys the Executive as President of the Company. The Executive accepts suchemployment and agrees to perform the duties and responsibilities assigned tohim under this Agreement.

**Section1.2**            **Duties and Responsibilities**.

During the periodof employment, Executive agrees to serve as the President of the Company and suchother offices and directorships of the Company and of its subsidiaries andrelated companies  (collectively “affiliates”)  to which he may be elected or appointed, andto perform any mutually agreed upon, reasonable and appropriate duties 

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as may be requestedof him by the  Management Board and/orChief Executive Officer in accordance with this Agreement and in compliancewith all applicable laws and regulations.

**Section1.3**            **Working Facilities; Location**.

The Executiveshall be furnished with facilities and services suitable to his position andadequate for the performance of his duties under this Agreement. The principalplace of performance by Executive of his duties hereunder shall be at theoffices of the Company in Las Vegas Nevada or at such other location as mayreasonable be requires to travel outside that area in the performance ofExecutive responsibilities.

**Section1.4**            **Benefits Plan.**

From the effectivedate of this agreement, the Executive shall be entitled to participate in anybenefit plans provided to senior management of the Company.

**Section1.5**            **Expenses.**

The Executive isauthorized to incur reasonable expenses for promoting the business of theCompany in all respects, including expenses for entertainment, travel andsimilar items. The Company will promptly reimburse the Executive for all suchexpenses upon the presentation by the Executive, from time-to-time, of anitemized account of such expenditures.

**ARTICLE IICOMPENSATION**

**Section2.1**            **Base Salary.**

The Company shallpay to the Executive a Base Salary of $275,000 per year payable in accordancewith the Company’s payroll and withholding policies.

**Section2.2**            **Bonus and Bonus Plan Participation**.

If the ManagementBoard establishes a Bonus program for its Senior Management Team, the Executivewill be entitled to participate in the program. If the goals and performancecriteria set for the Executive are met for a particular year, the Executiveshall be entitled to a Bonus as determined in the discretion of the Company’sManagement Board or Compensation Committee.

**ARTICLE III****TERM OF EMPLOYMENT AND TERMINATION**

**Section3.1**            **Term**.

Executive willcontinue to serve as President of the Company for a period of one year from thedate of this agreement.

**Section3.2**            **Termination by the Company**.

The Company mayterminate the Executive’s employment, at any time.

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Upon the date oftermination of the Executive’s employment pursuant to this Section 3.2 thecompany shall be responsible for compensating the Executive for all salary duefor balance of the entire term of this agreement, vacation time not taken andun-reimbursed expenses.

If the Executiveis terminated by the Company, the Company may elect to pay the balance due as alump sum or in normal bi-weekly payroll amounts. The Executive will be entitledto continue to receive all health, medical, and life insurance benefits for thebalance of the term of this agreement, plus all COBRA benefits he is entitledto under applicable laws.

**Section3.3**            **Termination upon Death of the Executive**.

In Addition to anyother provision relation to termination, this agreement shall terminate uponthe Executive’s death. In such event, all unpaid compensation, compensation forvacation time not taken by the Executive and all expense reimbursements due tothe Executive shall be paid to the Executive’s estate.

**Section3.4**            **Termination by the Executive**.

This Agreement maybe terminated by the Executive upon at least 30 days prior written notice, inwhich event the Executive shall be entitled to salary compensation only duringthe notice period and no pro rated bonus shall be paid or payable.

**Section3.5**            **Other**

After theExecutives employment terminates, if requested by EW Common, the Executive willfunction as EW Owners Representative. The Owners Representative will beprovided an office on property and afforded access to all records and personnelof the Company as permitted under Nevada law and afforded to any otherManagement Board Member. The Owners Representative will have no authority otherthan what is granted other members of the Management Board.

**ARTICLE IV****CONFIDENTIALLY AND COMPETITION**

**Section4.1            FurtherObligation of the Executive During and After Employment.**

(a)           The Executive agrees that whileemployed under this Agreement, he will not engage in any business activitieswhich are or may be competitive with, or which might place him in a competingposition to that of the Company except as authorized by the Company’s Board ofDirectors in its reasonable discretion.

(b)           The Executive realizes that duringthe course of his employment, the Executive will have produced and/or haveaccess to confidential business plans, information, business opportunityrecords, notebooks, date, marketing strategies, trade secrets, customer  lists and accounts lists of the Company andits affiliates (“Confidential Information”). Therefore, during or subsequent tohis employment by the Company, or 

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by an affiliate,the Executive agrees to hold in confidence and not to directly or indirectlydisclose or use or copy or make lists of any such confidential information,except to the extent authorized by the Company in writing. All records, files,business plans, documents, equipment and the like, or copies thereof, relatingto Company’s business, or the business of an affiliated company, which theExecutive shall prepare, or use, or come into contact with, shall remain thesole property of the Company, or of an affiliated company, and shall not beremoved from the Company’s or the affiliated company’s premises without itswritten consent, and shall be  promptly returnedto the Company upon termination or resignation of employment with the  Company or its affiliated companies.

(c)           Because of his employment by theCompany, the Executive will have access to secrets and confidential informationabout the Company, its business plans, its customers, its businessopportunities, its expansion pans into other geographic areas and its methodsof doing business. The Executive agrees that for the Term of this Agreement andan additional period of six months he will not take any actions which arecalculated to persuade any employee, customer, vendor or supplier of theCompany to terminate or modify any adverse manner his or its association withthe Company.

**ARTICLE V****DISABILITY AND ILLNESS**

**Section5.1            Disabilityand Salary Continuation.**

If the Executivebecomes totally disabled during the term of this Agreement, he will be entitledto the same benefits afforded all other senior executives under any disabilityprograms the company may have in place.

**ARTICLE VI****GENERAL MATTERS**

**Section6.1**            **Governing Law**.

This Agreementshall be governed by the laws of the State of Nevada and shall be construed inaccordance therewith.

**Section6.2**            **No Waiver**.

No provision ofthis Agreement may be waived except by an agreement in writing signed by thewaiving party. A waiver of any term or provision shall no be construed as awaiver of any other term or provision.

**Section6.3**            **Amendment.**

This Agreement maybe amended, altered or revoked at a time in whole or in part, by filling withthis Agreement a written instrument setting forth such changes, signed by eachof the parties.

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**Section6.4**            **Benefit.**

This Agreementshall be binding upon the Executive and the Company, and shall not beassignable by either party without the other parties written consent.

**Section6.5**            **Severability**.

If any provisionof this Agreement is declared by any court of competent jurisdiction to beinvalid for any reason, such invalidity shall not affect the remainingprovision. On the contrary, such remaining provision shall be fully severable,and this Agreement shall be construed and enforced as if such invalid provisionhad not been included in the Agreement.

**Section6.6**            **Effective Date**.

The effective dateof this Agreement shall be October 31st, 2006.

**Section6.7**            **Arbitration**.

The Company andthe Executive expressly agree that all disputes arising out of this Agreementshall be resolve by arbitration in accordance with the following provision.Either party must demand in writing such arbitration within 30 days aftercontroversy arises by sending a notice to arbitrate to both the other party andto any recognized and reputable alternative dispute resolution firm. Theparties will select by mutual agreement the arbitrator or arbitrators(hereinafter collective referred to as “arbitrator”) to hear and resolve thecontroversy. The controversy shall then be arbitrated pursuant to the rulespromulgated by such firm at offices located in Las Vegas NV. The express termsof this Agreement and the laws of the State of Nevada shall govern the arbitrator’sdecision and shall be final and binding on the parties and shall bar any suit,action, or proceeding instituted in any federal, state or local court oradministrative tribunal. Notwithstanding the preceding sentence, the arbitrator’sjudgment may be entered in any court or competent jurisdiction. Thesearbitration shall survive the termination of this Agreement.

In witnesswhereof, the undersigned have executed this agreement as of October 31, 2006.

155 E. TropicanaLLC
| By:        |   | /s/ Neil Kiefer         |   |
|------------|--------|-------------------------|--------|
|       |   | Neil Kiefer, CEO        |
|       |   |                    |
| Executive: |   | /s/ Michael J. Hessling |   |
|       |   | Michael J. Hessling     |
|            |        |                         |        |  |  |  |

 

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