Exhibit 4.8

233
South Wacker Drive, Suite 28
Chicago, Illinois 60606
Tel 312-234-2732
Fax 312-234-3603

Bank of America, N. A.

|TO:                                 | Eldorado Resorts LLC
c/o Eldorado Hotel and Casino
P 0 Box 3399
Reno, NV 89505                           
|----------------------------------- | ---------------------------------------------------------------------------------------------------------
|ATTN                                | Bob Jones                                                                                                
|TEL                                 | 775-786-5700                                                                                             
|FAX:                                | 775-343-7513                                                                                             
|ATTN                                | Earl Howsley                                                                                             
|TEL                                 | 775-348-9279                                                                                             
|FAX                                 | 775-954-4008                                                                                             
|FROM:                               | Bank of America, NA.
233 South Wacker DriveSuite 2800
Chicago, Illinois 60606
Robert OHara/David Rebnord
|Date:                               | 13FEB03                                                                                                  
|Our Reference No. 3004937          
|Internal Tracking No. 481653 481654
|                                    |                                                                                                          

UNWIND CONFIRMATION FOR SWAP TRANSACTION

Re:    Letter
Agreement relating to the termination of the Transaction between Eldorado Resorts LLC and Bank of America, N.A. with our Reference Number as set forth above, with an Effective
Date of 12NOV02, Termination Date of 15AUG06 and Notional Amount of USD 50,000,000.00.

Dear
Sir/Madam,

We
refer to the above Transaction (the "Transaction") and the Confirmation entered into between you and us in relation thereto (the "Confirmation"). Capitalized terms used but not defined in this
letter will have the meanings given to them in the Confirmation and Agreement referred to therein.

This
letter agreement confirms our mutual agreement on 12FEB03 to terminate this Transaction in advance of its scheduled Termination Date.

In
consideration of the early termination of this Transaction, USD 10,000.00 will be payable by us to you on or before 14FEB03 in respect of such termination. All future payment obligations of Bank of
America N.A. and Eldorado Resorts LLC under this Transaction will be terminated upon our payment to you of such settlement amount.

This
letter agreement shall be governed by and construed in accordance with the Governing Law as stated in the Confirmation or if not stated in the Confirmation, then in the Agreement referred to
therein.

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Account Details:

Account
for payments to Eldorado Resorts LLC:

|      | USD                 
|----- | --------------------
|NAME: | Bank of America     
|CITY: | Nevada              
|ABA#: | 122400724           
|NAME: | Eldorado Resorts LLC
|ACCT: | 000470041054        

Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement by returning via telecopier an executed copy of this Confirmation to the
attention of Global Derivative Operations at (fax no.(312) 234-3603).

Yours
Sincerely,

Bank
of America, N.A.

|/s/DAVE WALKERDave Walker
Senior Vice President      |                     | 
|---------------------------------------------------- | ------------------- | 
|Authorized Signatory                                 |                     | 
|Accepted and confirmed as of the date first written: |                     | 
|Eldorado Resorts LLC                                 |                     | 
|By:                                                  | /s/DONALD L. CARANO | 
|Name:                                                | Donald L. Carano    | 
|Title:                                               | CEO                 | 
|Our Reference # 3004937 481653                       |                     | 
|                                                     |                     | 

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