Exhibit 10.1 - Financing Commitment Drs. Richard Kelley and Richard Tam
            NevStar Gaming & Entertainment Corporation
                       3175 West Post Road
                          Cypress Center
                    Las Vegas, Nevada  89118 
               (702) 269-1325  FAX:  (702) 269-1326


                          March 31, 1998

Dr. Richard R. Kelley
Outrigger Enterprises
4800 South Lafayette Street
Englewood, Colorado  80110-7011
     [OR]
2375 Kuhio Avenue
Honolulu, Hawaii  96815-2939

Dr. Richard Tam
Richard Tam Enterprises
2140 West Charleston Boulevard
Las Vegas, Nevada 89102

     Re:  Financing Commitment

Dear Drs. Kelley and Tam:

     This letter is intended to summarize the principal terms of a commitment by
Dr. Richard Kelley ("Kelley") and Dr. Richard Tam ("Tam") (Kelley and Tam are
collectively referred to herein as the "Lenders") to lend to NevStar Gaming &
Entertainment Corporation, a Nevada corporation ("NevStar"), the principal
sum of up to One Million Dollars ($1,000,000) (the "Principal Sum") on the
terms as forth below (the "Loan"):

     1.   Loan Amount.  The Lenders agree to lend to NevStar the Principal
          Sum which shall bear interest at the greater of (i) the Bank of
          Hawaii prime rate of interest plus three percent (3%) or (ii)
          twelve percent (12%).  The initial advance pursuant to this
          Agreement shall be net of an origination fee of Ten Thousand
          Dollars ($10,000).

     2.   Security.  The Loan shall be secured by a deed of trust encumbering
          NevStar's hotel/casino property under construction in Mesquite,
          Nevada, in favor of Kelley, and shall be governed by that certain
          Amended and Restated Convertible Loan Agreement dated April 18,
          1996, between NevStar and Kelley, as amended to date (the "Kelley 
          Loan Agreement").Lenders acknowledge that the Deed of Trust shall 
          be junior and subordinate to the first lien in favor of First 
          Credit Bank and shall be subject to Lenders' existing Intercreditor 
          Agreement with PMJ Enterprises, Inc.

     3.   Advances by the Lenders.  Lenders will advance to NevStar for 
          current and future working capital purposes an amount as needed up  
          to the Principal Sum on twenty (20) days' prior written notice of 
          NevStar to Lenders, but no sooner than June 1, 1998 and no later
          than March 26, 1999.  A condition to any advance shall be that 
          NevStar shall possess all gaming licenses required to fully operate 
          the Mesquite Star Hotel and Casino.  

     4.   Payment Terms.  Interest only shall be payable monthly in arrears.  
          The Principal Sum and all accrued interest thereon shall be due and 
          payable one (1) year from the initial draw date.  

     5.   Warrants.  In consideration for this Loan Commitment, the Lenders 
          shall be issued warrants in the form attached hereto as Exhibit "A" to
          purchase a total of seventy-five thousand (75,000) shares of 
          NevStar Common Stock at a per share exercise price of $2.00.  In 
          addition, for each One Hundred Thousand Dollar ($100,000) principal
          amount advanced pursuant to this commitment, the Lenders shall 
          receive an additional 15,000 warrants (or pro rata portion thereof 
          based upon a partial draw of less than $100,000 rounded to the 
          nearest whole warrant) to purchase shares of NevStar Common Stock 
          at a purchase price of $2.00. All Warrants shall be immediately 
          exercisable for a term of five years and shall include a cashless 
          exercise feature.  The parties shall use best efforts to structure 
          the additional warrants in a manner to minimize taxation of the 
          Lenders.  All shares of Common Stock issuable upon exercise of the 
          warrants shall be subject to the terms and conditions of any 
          lock-up agreements entered into by the Lenders with H.J. Meyers & 
          Co., Inc. and shall constitute "Registerable Securities" as defined
          in Article X of the Stock Purchase Agreement dated as of May 9, 
          1997 by and between NevStar, PMJ Enterprises, Inc., Patrick J.  
          Shannon, and the Lenders (the "Stock Purchase Agreement").  The 
          Lenders and NevStar acknowledge and agree that the registration of 
          these shares of common stock shall be governed by Article X of the 
          Stock Purchase Agreement.

     6.   Documentation.  Lenders' obligations hereunder are conditioned upon
          the preparation, execution and perfection of legal documents 
          reasonably satisfactory to the parties and their counsel which 
          shall contain customary representations, warranties and conditions
          acceptable to Lenders.  NevStar shall pay all reasonable expenses 
          of Lenders in connection with the preparation of such documents, 
          subject to a cap on legal fees of $7,500. 

     7.   Entire Agreement.  This Agreement constitutes the entire agreement 
          between the parties, and supersedes all prior oral or written 
          agreements, understandings, representations and warranties, and 
          courses of conduct and dealing between the parties on the subject 
          matter hereof. Except as otherwise provided herein, this Agreement 
          may be amended or modified only by a writing executed by all of the
          parties.

     8.   Governing Law.  This Agreement will be governed by and construed under
          the laws of the State of Nevada without regard to conflicts of laws 
          principles.

     9.   Jurisdiction; Services of Process.  Any action or proceeding seeking 
          to enforce any provision of, or based on any right arising out of, 
          this Letter may be brought against any of the parties in the courts
          of the State of Nevada, County of Clark, or, if it has or can acquire
          jurisdiction, in the United States District Court, and each of the 
          parties consents to the jurisdiction of such courts (and of the 
          appropriate appellate courts) in any such action or proceeding and 
          waives any objection to venue laid therein. Process in any action or 
          proceeding referred to in the preceding sentence may be served on any 
          party anywhere in the world.

     10.  Counterparts.  This Agreement may be executed in one or more 
          counterparts, all of which when fully executed and delivered by all 
          parties hereto and taken together shall constitute a single 
          agreement, binding against each of the parties.  To the maximum extent
          permitted by law or by any applicable governmental authority, any 
          document may be signed and transmitted by facsimile with the same 
          validity as if it were an ink-signed document.

           [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]<PAGE>
     If you are in 
          agreement with the foregoing, please sign and return one copy of this
          letter agreement, which thereupon will constitute our agreement with 
          respect to its subject matter.

                         Sincerely,

                         NEVSTAR GAMING & ENTERTAINMENT
                         CORPORATION, a Nevada corporation

                              
                         By:                                     
                              Michael J. Signorelli
                              Chairman and Chief Executive Officer

     The undersigned hereby acknowledge and agree to the terms and conditions
     set forth above, as of March 31, 1998.

                              
                                                                 
                         Richard R. Kelley


                                                                 
                         Richard Tam


              [Signature Page to Commitment Letter]

C:\MyFiles\EDGAR980310QSB\commit4W.txt.wpd