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Exhibit 10.1
  EXECUTION
    COPY
   LICENSE
    AGREEMENT
    Between
    ELVIS PRESLEY ENTERPRISES, INC.
    and
    FX LUXURY REALTY LLC
    Dated as of June 1, 2007




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Effective Date Licensor Licensee party parties
  RECITALS
          Article 1
  DEFINITIONS
  Section For all purposes hereof
  Affiliate
  Agreement
  Artifact
  Audiovisual Works
  CityCentre Agreement
  Control Controlled
  Creation
 1




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Elvis Experience(s)
  Elvis Identification Elements
  Elvis Presley-themed
  Elvis Property or Elvis
    Properties
  Elvis Related IP
  EPE Heartbreak Hotel
  Generic Merchandise
  Generic
  Gross Revenues and/or provided however
  including includes
  Joachim Jean Aberbach Interests
  Julian J. Aberbach Interests
  Licensee Owned IP and/or
  Licensee Related Party
  Licensor Owned IP
  Marks and/or
  Masterplan
 2




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Person
  Photos
  Project Company and/or
  Seconds
  Site License Exhibit J
  Website
  Section Other
    Defined Terms.
  Authorized Elvis
    Presley-themed Entertainment Attractions

Section 2.01(d)Base Casino Royalty

Section 7.04Buy-Out

Section 7.18Casino(s)

Section 2.01(a)Claims

Section 20.02Co-Branded Campaign

Section 3.09(c)Confidential
    Information

Section 25.01Consents

Section 5.01Declined Elvis
    Experience

Section 15.03Domain Names

Section 3.08Effective Date

PreambleElvis Hotel, Lounge and
    Casino Infringements

Section 19.03Elvis Presley-themed
    Casino(s)

Section 2.01(a)Elvis Presley-themed Food
    and Beverage Outlet(s)

Section 2.01(b)Elvis Presley-themed
    Hotel(s)

Section 2.01Elvis Presley-themed
    Lounge(s)

Section 2.01(d)Elvis Presley-themed
    Residential Development(s)

Section 2.01Elvis Presley-themed
    Resort(s)

Section 2.01Elvis Presley-themed Retail
    Store(s)

Section 2.01(e)Elvis Presley-themed
    Spa(s)

Section 2.01(c)Elvis Presley-themed Theme
    Park(s)

Section 2.03Elvis Property
    Materials

Section 10.01Elvis Property-themed
    Merchandise

Section 2.06Entertainment
    Attraction(s)

Section 2.01(f)Excluded Gambling Items

Section 2.02First Memphis Hotel

Section 6.01Food and Beverage
    Outlet(s)

Section 2.01(b)General Infringement

Section 19.02Guaranteed Minimum
    Royalties

Section 7.08 3




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Joint Name and Logo

Section 3.07Licensed Elvis
    Merchandise

Section 12.11Licensee Created Marks

Section 3.03Licensee Indemnified
    Parties

Section 21.02Licensee

PreambleLicensor Indemnified
    Parties

Section 20.02Licensor

PreambleLounge(s)

Section 2.01(d)Manufacturers
    Agreement

Section 12.09MAE Agreement

Section 23.03Material Terms

Section 2.01(a)Presley Music

Section 5.01Publicity Materials

Section 13.01Registered
    Class/Territories

Section 3.01Representatives

Section 25.01Restricted Party

Section 25.01Retail Store(s)

Section 2.01(e)ROFR Period

Section 15.02Royalty Reports

Section 7.10Rules

Section 2.01(a)Spa(s)

Section 2.01(c)Subsequent Memphis
    Hotels

Section 6.03Tax or
    Taxes

Section 7.15Term

Section 23.01Third Party Elvis-Related
    Materials

Section 5.02Third Party IP
    Clearances

Section 5.03Unbranding Period

Section 24.01   Article 2
  GRANT OF
    RIGHTS
  Section Hotel
    License. Elvis
    Presley-themed Hotel(s) Elvis Presley-themed Resort(s) Elvis
    Presley-themed Residential Development(s) Elvis Presley-themed Commercial
    Development(s)
  Casino(s) Elvis Presley-themed Casino(s)
  Food and Beverage Outlet(s) and/or Elvis Presley-themed Food and Beverage
    Outlet(s)
 4




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Spa(s) Elvis Presley-themed Spa(s)
  Lounge(s) Elvis Presley-themed Lounge(s)
  Retail
    Store(s) Elvis Presley-themed Retail Store(s)
  Entertainment Attraction(s) and/or provided and/or Authorized Elvis Presley-themed
    Entertainment Attractions
  and/or
  Section Casino
    License. Excluded Gambling Items
  Section Theme
    Park License. Elvis Presley-themed Theme
    Park(s) provided
  Section Lounge
    License.
  Section Food
    Outlet License.
 5




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provided provided further and/or
  Section Merchandise
    License. Elvis Property-themed Merchandise
  Section Merchandise
    Selection. provided Exhibit C Exhibit C
  Article 3
  TRADEMARKS;
    RESERVATION OF RIGHTS
  Section Geographic
    Limitations. Registered Class/Territories
 6




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Section Expansion
    of Trademark Protection.
  Section Ownership
    of Licensee Created Marks. Licensee Created Marks and/or and/or
  Section Refusal
    to Register. provided
  Section Certain
    Trademark Limitations.
  Section Trademark
    Strategy.
  Section Joint
    Name and Logo. and/or Joint Name and Logo
  Section Domain
    Names. Domain
    Names
 7




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Section Reservation
    of Rights.
  and/or provided provided and/or
  and/or
  Co-Branded Campaign provided
  provided
    Section Entertainment
    Attractions. and/or provided
  Section Elvis
    Experiences.
 8




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Article 4
  LICENSE
    OF ELVIS ARTIFACTS
  Section License
    of Artifacts. provided
  Section Delivery
    of Artifacts.
  Section Protection
    of Artifacts. Exhibit D
  Section No
    Museums.
  Section Insurance.
  Section Prior
    Inspection.
  Article 5
  THIRD
    PARTY INTELLECTUAL PROPERTY RIGHTS
  Section Presley
    Music. and/or and/or Presley Music
 9




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and/or and/or Consents and/or and/or provided however
  Section Other
    Third Party Owned IP. and/or and/or and/or Third Party Elvis-Related Materials and/or provided and/or and/or and/or provided however
  Section Third
    Party IP Clearances. Third Party IP
    Clearances provided however
 10




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Article 6
  MEMPHIS
    DEVELOPMENT AND OTHER PROJECTS
  Section Right
    to Construct First Memphis Hotel. First Memphis
    Hotel
  Section First
    Phase Government Funding and Tax
    Abatements. and/or and/or
  Section Subsequent
    Memphis Hotels. Subsequent Memphis
    Hotels
  Section Second
    Phase Government Funding and Tax
    Abatements. and/or and/or
  Section Elvis
    Presley-themed Hotel in Memphis.
 11




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Section EPE
    Heartbreak Hotel.
  Section Sharing
    of Costs Subsequent to Development of
    Hotels.
  Article 7
  ROYALTY
    AND PAYMENTS
  Section Gross
    Revenues.
  Section Comps. provided
  Section Elvis
    Property Royalties. and/or
  Section Gaming
    Royalty. Base Casino Royalty
 12




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Section Elvis
    Property-themed Merchandise. and/or
  Section Royalty
    Payments with Respect to Elvis Presley-Themed Food and Beverage
    Outlets, Lounges, Spas, and Retail Stores Operated by Third
    Parties. and/or and/or and/or and/or
  Section Sponsorships,
    Commercial Tie-Ins, and Co-Branding
    Opportunities.
  Section 7.08 Guaranteed
    Minimum Royalties. Guaranteed
    Minimum Royalties
  13




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Calendar Year

AmountCalendar year ending December 31,
    2007

$ 9,000,000Calendar year ending December 31,
    2008

$ 9,000,000Calendar year ending December 31,
    2009

$ 9,000,000Calendar year ending December 31,
    2010

$18,000,000Calendar year ending December 31,
    2011

$18,000,000Calendar year ending December 31,
    2012

$18,000,000Calendar year ending December 31,
    2013

$22,000,000Calendar year ending December 31,
    2014

$22,000,000Calendar year ending December 31,
    2015

$22,000,000Calendar year ending December 31,
    2016

$22,000,000Every calendar year thereafter
    during the Term

The Guaranteed Minimum
    Royalty for the immediately
    previous calendar year 
    plus five percent (5%)   Section Royalty
    Payments.
  Section Royalty
    Reports. Royalty Reports provided
  Section Method
    of Payment and Royalty Reports.
    38101-2082
 14




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Section Currency
    and Offsets.
  Section Late
    Payments. The Wall
    Street Journal
  Section Monetary
    Conversions. The Wall Street Journal.
  Section Withholding
    Taxes. Tax Taxes provided
  Section Exemptions. provided
  Section Licensees
    Expenses.
 15




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Section Buy-Out. Buy-Out
  Section Additional
    Payments.
  Article 8
  RECORDS
    RETENTION AND AUDITS
  Section Records.
  Section Audit. and/or Wall Street Journal and/or
 16




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Article 9
  ACCOMMODATIONS
    AND TICKETS
  Section Reduced
    Rate Accommodations.
  Section 9.02 Other
    Discounts.
  Article 10
  RIGHTS OF
    APPROVAL GENERALLY
  Section Exercise
    of Approval Rights.
  Section General
    Approval Period.
  Section Previously
    Approved Material.
  Section Licensee
    Contact.
  Section Approval
    Procedures.
      17




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Section Bypass
    of Procedure.
  Section Quality
    Control Generally.
  Section Right
    to Suspend Approval Process.
  Section Overall
    Use of Elvis Related IP. Exhibit E
  Section Withholding
    of Approval Following Buy-Out. provided however Rules
 18




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Article 11
  APPROVAL
    OF ELVIS PROPERTIES
  Section Approval
    of Design of Elvis Properties. Elvis Property
    Materials
  Section Consultation
    on Overall Design of Each Elvis
    Property. and/or
  Section Site
    Inspection. provided
  Section Elvis
    Presley-Themed Food and Beverage Outlets, Lounges, Spas, and
    Retail Stores Operated by Licensee.
  Section Elvis
    Presley-Themed Food and Beverage Outlets, Lounges, Spas, and
    Retail Stores Operated by Third
    Parties.
  Section Elvis
    Presley-Themed Food and Beverage Outlets, Lounges, Spas, and
    Retail Stores Operated by Licensor.
  Section Entertainment
    Attractions. provided
 19




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Section General
    Conditions of Elvis Properties.
  Section Generic
    Property Elements. provided provided and/or and/or Exhibit E
  Section Incidental
    Goods and Services. Exhibit E
  Article 12
  MERCHANDISE
    APPROVAL AND RIGHTS
  Section Submission
    of Materials. and/or
  Concept

Rough sketches or layout concepts;Prototype

Prototypes or finished artwork; andFinal

Pre-production sample.   Section Approval
    Procedures.
   20




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e-mail provided
  Section No
    Waivers. and/or
  Section Quality
    Control. and/or
  Section Compliance
    with Applicable Law.
  Section Right
    to Inspect. and/or
  Section Seconds
    and Disposals.
  Section Labeling
    Requirements.
 21




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Exhibit F and/or
  ©
      Section Manufacturers
    Agreement. Exhibit G Manufacturers
    Agreement
  Section Generic
    Merchandise.
  Section Licensed
    Elvis Merchandise. Licensed Elvis Merchandise
 22




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Section Supplies
    to Licensor.
  Section Free
    Samples.
  Article 13
  OTHER
    APPROVAL RIGHTS
  Section Advertisements. Publicity
    Materials and/or
  Section Publications
    and Promotions. and/or Exhibit E
  Section Approval
    of New Trademarks and Logos. provided however
  Section Sponsored
    Activities.
 23




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and/or
  Section Other
    Activities.
  and/or
    Article 14
  OTHER
    LIMITATIONS
  Section Acquisition
    of Artifacts.
  Section Acquisition
    of Other Elvis Materials.
  Section No
    Family Contact.
  Article 15
  ELVIS
    EXPERIENCES
  Section Elvis
    Experiences in General.
  Section Elvis
    Experiences With Third Party
    Collaboration. Material Terms ROFR Period
 24




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Section Elvis
    Experiences With No Third Party
    Collaboration. provided however
  Section Declined
    Elvis Experiences. Declined Elvis Experience
  Section No
    Royalties.
  Article 16
  REVERSION OF RIGHTS
  Section Reversion
    of Theme Park Rights.
  Section Reversion
    of Lounge Rights.
  Section Reversion
    of Elvis Presley-themed Food and Beverage
    Outlets.
 25




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Article 17
  OWNERSHIP OF RIGHTS
  Section Ownership.
  Section Licensee
    Limitations.
  Section Ownership
    of Creations. Exhibit H
  Section Goodwill
    and Promotional Value.
 26




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Section Irreparable
    Injury.
  Article 18
  INTELLECTUAL PROPERTY PROTECTION AND INFRINGEMENT
  Section Intellectual
    Property Protection.
  Section Cooperation.
  Article 19
  INFRINGEMENT
  Section Notice
    of Infringement.
  Section General
    Infringements. and/or General Infringement
 27




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Section Elvis
    Hotel, Lounge and Casino Infringements. and/or Elvis Hotel, Lounge and Casino
    Infringements provided
  Article 20
  LICENSEE WARRANTIES AND INDEMNIFICATION
  Section Licensee
    Representations and Warranties.
             28




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Exhibit E
  Section Licensee
    Indemnification. Licensor Indemnified Parties Claims
            Section Licensee
    Limitations.
  Section Licensee
    Control. and/or provided
  Section Licensor
    Participation.
 29




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Section Cooperation.
  Article 21
  LICENSOR WARRANTIES AND INDEMNIFICATION
  Section Licensor
    Representations and Warranties.
                    Section Licensor
    Indemnification. Licensee Indemnified Parties
 30




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Section Licensor
    Limitations.
  Section Control. and/or provided
  Section Licensee
    Participation.
  Section Cooperation.
  Article 22
  INSURANCE
  Section Insurance
    Generally.
   31




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Section Coverage.
  Article 23
  TERM AND TERMINATION
  Section Term. Term
  Section Termination
    by Licensor.
     32




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provided
    and/or
          Section Termination
    by Licensor or Licensee. MAE Agreement
 33




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provided
        Article 24
  POST TERMINATION RIGHTS AND OBLIGATIONS
  Section Unbranding. Unbranding Period
  Section Reversion
    of Rights.
  Section Existing
    Inventory. provided
 34




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Section Irreparable
    Injury.
  Section Survival.
  Section No
    Assignment.
  Section Sublicense
    Rights.
  Section Issuance
    of a Site License. Exhibit I Exhibit J provided
  Article 25
  CONFIDENTIALITY
  Section Confidential
    Information. Restricted Party Representatives
 35




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Confidential Information
  Section Exceptions.
  provided
          Article 26
  MISCELLANEOUS
  Section Notices.
    
    
    
 36




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Section Governing
    Law.
  Section Service
    of Process.
  Section Waiver
    of Consequential Damages.
  Section Exhibits.
  Section Press
    Release.
  Section Entire
    Agreement; Amendments.
  Section Waiver.
  Section Partial
    Invalidity.
  Section Execution
    in Counterparts.
 37




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provided
  Section Headings.
  Section Rights
    Cumulative.
  Section Parties
    Intent.
        By:
    /s/ Michael G. Ferrel   Date:
    June 1, 2007       By:
    /s/ Paul C. Kanavos   Title:  Date:
    June 1, 2007   ELVIS PRESLEY MASTER LICENSE AGREEMENT
 38