----

|  1.  | Recitals.  The      Borrowers have requested Bank to lend them up to the sum of Eight Million      and no/100s ($8,000,000.00) on a draw down and term loan      basis.  Bank is willing to provide such financing based upon the      terms and conditions set forth below.  Therefore, in      consideration of the promises herein contained, and each intending to be      legally bound hereby, the parties agree as provided in this      Agreement. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.  | Definitions.  Terms      used in the Uniform Commercial Code presently in effect in the State of      Iowa (the “Iowa      UCC”) and not otherwise defined in this Agreement shall have the      meanings assigned to such terms in the Iowa UCC.  In addition,      as used in this Agreement, the following capitalized terms shall have the      meanings set forth in this Section2: |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| (i)   | All      indebtedness guaranteed, directly, in any manner, or endorsed (other than      for collection or deposit in the ordinary course of business) or      discounted with recourse; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | All      indebtedness in effect guaranteed, directly or indirectly, through      agreements, contingent or otherwise (a) to purchase such indebtedness, (b)      to purchase, sell, or lease (as lessee or lessor) property, products,      materials, or supplies or to purchase or sell services, primarily for the      purpose of enabling the debtor to make payment of such indebtedness or to      insure the owner of the indebtedness against loss, or (c) to supply funds      to, or in any other manner invest in, the  debtor; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iii)   | All      indebtedness secured by (or for which the holder of such indebtedness has      a right, contingent or otherwise, to be secured by) any mortgage, deed of      trust, pledge, lien, security interest, or other charge or encumbrance      upon property owned or acquired subject thereto, whether or not the      liabilities secured thereby have been assumed;  and |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iv)   | All      indebtedness incurred as the lessee of goods or services under leases      that, in accordance with GAAP, should not be reflected on the lessee’s      balance sheet. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| (i)   | Liens      permitted under any of the Senior Debt Documents (other than any such      Liens securing any Indebtedness or other obligations evidenced thereby or      arising thereunder on anyCollateral); |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | Liens      for taxes, assessments, or similar charges, incurred in the ordinary      course of business, that are not yet due and  payable; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| (iii)   | Pledges      or deposits made in the ordinary course of business to secure payment of      worker’s compensation or to participate in any fund in connection with      worker’s compensation, unemployment insurance, old-age pensions, or other      social security programs; |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iv)   | Liens      of mechanics, materialmen, warehousemen, carriers or other like liens,      securing obligations incurred in the ordinary course of business that are      not yet due and payable; |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (v)   | Good      faith pledges or deposits made in the ordinary course of business to      secure performance of bids, tenders, contracts (other than for the      repayment of borrowed money) or leases, or to secure statutory      obligations, or surety, appeal, indemnity, performance, or other similar      bonds required in the ordinary course of  business; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (vi)   | Liens      in favor of Bank under this Agreement;and |
|------------------|------------------------------------------------------|

| (vii)   | The      following, if the validity or amount thereof is being contested in good      faith by appropriate and lawful proceedings, so long as levy and execution      thereon have been stayed and continue to be stayed and they do not, in the      aggregate, materially detract from the value of the Collateral, or      materially impair the use thereof in the operation of its business: (a)      Claims or liens for taxes, assessments, or charges due and payable and      subject to interest or penalty, (b) claims, liens, and encumbrances upon,      and defects of title to the Collateral, including any attachment of      Collateral or other legal process prior to adjudication of a dispute on      the merits, (c) claims or liens of mechanics, materialmen, warehousemen      carriers      or other like liens, (d) adverse judgments on appeal, and (e) any      other liens to which Bank has consented in  writing. |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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|        3.  | The      Loan.  Subject to all of the terms and provisions of this      Agreement, Bank agrees to grant a loan to the Borrowers, concurrently with      the execution of this Agreement, in the principal amount of up to Eight      Million & 00/100 Dollars ($8,000,000.00), due December 1, 2013 (the      “Loan”). |
|----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1   | Note.  The      Loan shall be evidenced by the Note which shall be dated the date of this      Agreement, and shall mature on the Maturity Date, when the full amount of      principal and unpaid interest shall be due and payable.  Any      extension of time for payment of principal or interest on the Note      resulting from any date on which any such payment is due falling on a      Saturday, Sunday or legal holiday, shall be included in the computation of      interest. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 3.2   | Interest.  Interest      on the unpaid principal balance of this Note shall be (i) payable monthly      beginning June 1, 2008, and on the first of each month thereafter until      the Maturity Date, which payment of interest shall consist of all interest      billed and unpaid through the last day of the month preceding the month in      which such payment of interest is due, and (ii) calculated as      follows: |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2.1   | Interest      during the Draw Down Period shall accrue from the date of the Note’s      execution, or the date funds are first provided, whichever is later, until      December 31, 2008, on the unpaid principal balance of the Note from time      to time outstanding, computed on the basis of a year of three hundred      sixty (360) days and the actual number of days lapsed, at a rate equal to      the Wall Street Journal Prime Rate per annum;  and |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2.2   | Interest      on the Term Period of the Note shall be calculated at a rate of six and a      half percent (6.5%) per annum from January 1, 2009 until the Maturity      Date. |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.3   | Principal.  No      principal payments shall be due during the Draw Down      Period.  During the Term Period the Borrowers shall pay the      outstanding balance of principal plus accrued interest in equal monthly      installments commencing on February 1, 2009, and on the first day of each      month thereafter, in an amount that will amortize the loan through the      Maturity Date, at which time the entire principal balance and accrued      interest shall be due. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.4   | Payment.  All      sums payable to Bank under the Note or this Agreement shall be paid in      immediately available funds.  Bank shall send to the Borrowers      periodic statements of all amounts due under the Note or this Agreement,      which shall be considered correct and conclusively binding on the      Borrowers unless one or more Borrowers notify Bank to the contrary within      thirty (30) days of the Borrowers’ receipt of any statement that any      Borrower deems to be incorrect. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.5   | Prepayment.  The      Borrowers have the right at any time to prepay the Loan in whole or in      part, provided, that      interest accrued to the date of such prepayment plus a fee equal to the      applicable amount set forth in this Section 3.5 (the “Prepayment      Fee”) shall be paid on such prepayment date; provided further      however, that the Borrowers shall only pay a Prepayment Fee if such      prepayment of the Loan is being financed with proceeds from a loan issued      by a financial institution other than the Bank or an affiliate      thereof. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.5.1   | If      the Borrowers prepay the Loan prior to the first anniversary of the      Closing, the Prepayment Fee shall be equal to three percent (3%) of the      amount prepaid on such prepaymentdate. |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.5.2   | If      the Borrowers prepay the Loan on or after the first anniversary of the      Closing but before the second anniversary of the Closing, the Prepayment      Fee shall be equal to two percent (2%) of the amount prepaid on such      prepayment date. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 3.5.3   | If      the Borrowers prepay the Loan on or after the second anniversary of the      Closing, the Prepayment Fee shall be equal to one percent (1%) of the      amount prepaid on such prepaymentdate. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.6   | Purpose.  The      purpose of this Loan is to provide the Borrowers with some of the funds      necessary to finance the purchase of the FF&E for the Diamond Jo      Casino located in Dubuque, Dubuque County, Iowa, and the funds provided      hereunder will be used only suchpurpose. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.7   | Cost of      Purchase. |
|-----------------|------------------------|

| 3.7.1   | The      total purchase price of the FF&E purchased with the proceeds of the      Loan is estimated to be $8,000,000.  Any amount owed for such      purchase in excess of this Loan shall be the sole responsibility of the      Borrowers. |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.7.2   | Each      Borrower agrees that no liability shall attach to Bank, its agents or      employees in connection with the purchase of the FF&E, it being      understood that the Borrowers shall continue to be liable for the payment      of any and all debts, actions, claims, demands, accounts or causes of      action which may arise hereunder, liability on the part of Bank being      expressly waived and released. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.8   | Disbursement. |
|-----------------|---------------|

| 3.8.1   | Bank      shall disburse to the Borrowers the Loan proceeds for the purchase of      FF&E.  The net proceeds of the Loan shall be conclusively      deemed a full and complete consideration for the  Note. |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.8.2   | The      Borrower shall use the proceeds of the Loan for the purposes set out in      this Agreement. |
|-------------------|-------------------------------------------------------------------------------------------------------|

| 4.   | Conditions      Precedent.  The obligation of Bank to make the Loan is      subject to the conditions precedent set forth in this Section      4. |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1   | Documents      Required for the Initial Disbursement.  The Borrowers shall have      delivered to Bank, in form and content acceptable to Bank, prior to the      initial disbursement of the Loan (the “Closing”), the      following: |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.1   | The      Note, duly executed by theBorrowers; |
|-------------------|-----------------------------------------------|

| 4.1.2   | The      financing statements and other instruments required to be delivered by the      Borrowers pursuant to Section5; |
|-------------------|--------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 4.1.3   | A      copy, certified as of the date of the Closing, of resolutions of the      members of each Borrower authorizing the execution, delivery and,      performance of this Agreement and the Note and each other document to be      delivered pursuant hereto; |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.4   | A      certificate (dated the date of the Closing) of the managing members of      each Borrower as to the incumbency and signature of the Officers of each      Borrower signing this Agreement and the Note and each other document to be      delivered pursuant hereto; |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.5   | A      written opinion of the Borrowers’ counsel, dated the date of the Closing      and addressed to Bank to the effectthat: |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.5.1   | The      Borrowers are limited liability companies organized, existing and in good      standing under the laws of the State of Delaware and Louisiana, as the      case may be, and are qualified to transact business and are in good      standing in the States of Delaware, Louisiana, as the case may be, and      Iowa; |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.5.2   | To      the knowledge of such counsel, each Borrower has the power to execute and      deliver this Agreement, to borrow money hereunder, to grant the Collateral      required hereunder, to execute and deliver the Note, and to perform its      obligations hereunder andthereunder; |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.5.3   | All      actions by the Borrowers and all consents and approvals of any Persons      necessary to the validity of this Agreement and the Note and such other      documents to be delivered hereunder do not conflict with any provision of      the Operating Agreements of the Borrowers, or of any applicable Laws, or      any other agreement binding the Borrowers or their respective property of      which, after reasonable inquiry, such counsel has    knowledge. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.5.4   | This      Agreement and the Note and all other documents to be delivered hereunder      have been duly executed by, and each is a valid and binding obligation of,      the Borrowers, each of the foregoing documents is in all respects      sufficient to achieve its purported function and is enforceable in      accordance with its terms, except as limited by bankruptcy, insolvency,      reorganization, moratorium, or other similar laws affecting creditors’      rights generally or by general equitable  principles. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1.6   | At      the Closing and at each subsequent disbursement of Loan proceeds, the      Borrowers shall provide evidence satisfactory to Bank of the total cost of      the purchase of the FF&E and a description of such      FF&E. |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 4.2   | Certain      Events.  As of the date of the Closing and the date of      each subsequent disbursement of Loan proceeds, and as a condition      thereof: |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.1   | The      representations and warranties set forth herein shall be    true; |
|-------------------|----------------------------------------------------------------------------|

| 4.2.2   | No      Event of Default shall have occurred and be continuing, and no event shall      have occurred and be continuing that, with the giving of notice or passage      of time or both, would be an Event ofDefault; |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.3   | No      material adverse change shall have occurred in the financial condition of      the Borrowers or any of their Subsidiaries since the dates of the      financial statements previously delivered to  Bank; |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.4   | Approval      of the FF&E, satisfactory to Bank, by the Iowa Racing and Gaming      Commission; and |
|-------------------|---------------------------------------------------------------------------------------------------------|

| 4.2.5   | All      legal matters incidental to the transactions contemplated by this      Agreement shall be satisfactory to Bank and its legal    counsel. |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.3   | Loan Financing      Fee.  A one-time financing fee of 0.25% of the principal      amount of the Loan shall be paid to Bank by the Borrowers at      Closing. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.4   | Bank’s Obligation to      Close.  Bank’s obligation to close or otherwise perform      is excused if, before or at the time of Closing, Bank, in good faith, and      in its full discretion, believes to its personal satisfaction      that:  (i) The Borrowers will be unable to perform fully and      completely the Obligations under the terms of this Agreement, (ii) Bank      will not have, as of the time of Closing, a first lien priority in the      Collateral agreed upon to fully secure the Obligations, or (iii) a change      in circumstances affecting the Borrowers or Bank, or new information has      been acquired since the delivery of the Commitment Letter dated January      24, 2008 by Bank or the Borrowers that significantly adversely affects      Bank’s decision to loan.  For the purposes of this Section, and      every other provision or duty, express or implied, of this Agreement,      “good faith” means honesty in fact, determined subjectively, rather than      by an objective standard. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | Collateral      Security.  As further security for the prompt      satisfaction of all Obligations, the Borrowers hereby assign to Bank all      of their right, title, and interest in and to, and grant Bank a lien upon,      and a purchase money security interest in the following assets acquired      with the proceeds of the Loan (the “Collateral”):  (i)      the FF&E, wherever located, whether now owned or hereafter acquired,      together with all parts, accessories and replacements, (ii) any computer      programs embedded in the FF&E at the time the FF&E is purchased by      the Borrowers and any supporting information relating to such programs (as      provided in Section 1(ar) of Article 9 of the Iowa UCC (Iowa Code Ann. §      554.9102 (2007))), and (iii) all FF&E acquired upon the sale, lease,      license, exchange, or other disposition of any  FF&E. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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|   |   |
|--------|--------|

| 5.1   | Priority of Liens.  The foregoing      liens over the Collateral shall be first and prior liens except for      Permitted Liens.  |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2   | Financing      Statements.  The Borrowers  will: |
|-----------------|------------------------------------------------------------|

| 5.2.1   | Assist      the Bank in filing such financing statements (including amendments thereto      and continuation statements thereof) in form satisfactory to Bank as Bank,      from time to time, may specify; |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2.2   | Pay,      or reimburse Bank for paying, all costs and taxes of filing or recording      the same in such public offices as Bank may  designate; |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2.3   | Take      such other steps as Bank, from time to time, may direct, including the      noting of Bank’s lien on the Collateral on any certificates of title      therefor, all to perfect to the satisfaction of Bank, Bank’s interest in      the Collateral; and |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2.4   | In      addition to the foregoing, and not in limitation thereof:  (i)      to the extent permitted by law, carbon, photographic, or other      reproduction of this Agreement shall be sufficient as a financing      statement and may be filed in any appropriate office in lieu thereof, and      (ii) to the extent lawful, the Borrowers hereby appoint Bank as their      attorney-in-fact (without requiring Bank to act as such) to execute any      financing statement in the name of the Borrowers and to perform all other      acts that Bank deems appropriate to perfect and continue its security      interest in, and to protect and preserve, the  Collateral. |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.3   | Release of      Collateral.  Upon the full and final payment of the      Obligations under this Agreement and the Note, this Agreement shall      terminate, and all of the liens on the Collateral created hereunder shall      be released.  In addition, Bank shall release from the liens      created hereunder any Collateral that is sold, transferred, disbursed or      otherwise disposed of in accordance with the provisions of this Agreement      (either in the ordinary course of business or otherwise).  Upon      compliance with the provisions of this Section 5.3, Bank shall execute,      deliver or acknowledge any necessary or proper instruments of termination,      satisfaction or release to evidence the release of the      Collateral. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.   | Representations and      Warranties.  To induce Bank to enter into this Agreement,      the Borrowers represent and warrant that, as of the date of the      Closing: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.1   | The      Borrowers are Peninsula Gaming, LLC (a Delaware limited liability      company), Diamond Jo, LLC (a Delaware limited liability company), and Old      Evangeline Downs, L.L.C. (a Louisiana limited liability company), all      organized, existing and in good standing under the Laws of each of their      respective jurisdictions of organization and authorized to conduct      business under the Laws of the State of Iowa; the Borrowers have the power      to own their respective properties and to engage in the businesses each      conducts, and are qualified and in good standing under each of their      respective jurisdictions of organization and in  good |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 6.2   | No      Borrower is directly or indirectly controlled by, or acting on behalf of,      any Person which is an “Investment Company,” within the meaning of the      Investment Company Act of 1940, asamended; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.3   | The      execution and performance of this Agreement and the Note will not      (immediately or with the passage of time, the giving of notice, or both)      (i) violate the Operating Agreement of any Borrower or violate any      applicable Laws or result in a default under any contract, agreement, or      instrument to which any Borrower is a party or by which any Borrower or      its property is bound, or (ii) result in a violation of the terms and      conditions of any of the Senior Debt Documents, or (iii) result in the      creation or imposition of any security interest in, or lien or encumbrance      upon, any of the assets of the Borrowers, except in favor of      Bank; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.4   | Each      Borrower has the power and authority to enter into and perform this      Agreement and the Note and to incur the obligations herein and therein      provided for, and has taken all actions necessary to authorize the      execution, delivery and performance of this Agreement and the      Note; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.5   | This      Agreement and the Note are, or when delivered will be, valid, binding and      enforceable in accordance with their respective  terms; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.6   | Except      as set forth in the Borrowers’ filings with the Securities and Exchange      Commission or as previously disclosed in writing to Bank, there is no      pending order, notice, claim, litigation, proceeding, or investigation      against or affecting the Borrowers, whether or not covered by insurance,      that would in the aggregate involve the payment of $50,000.00 or more or      would otherwise materially or adversely affect the financial condition or      business prospects of the Borrowers if adversely    determined; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.7   | The      Borrowers have good and merchantable title to all of the Collateral, none      of which is subject to any security interest, encumbrance or lien, or      claim of any third Person, except for Permitted  Liens; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.8   | Except      as set forth in the Borrowers’ filings with the Securities and Exchange      Commission or in Schedule B attached hereto, no Borrower has material      Indebtedness of any nature, including, but without limitation, liabilities      for taxes and any interest or penalties relating thereto (except to the      extent such taxes, interest or penalties are being contested by the      Borrowers in good faith or to the extent permitted by this Agreement), and      the Borrowers do not know or have reasonable ground to know of any basis      for the assertion against them of any such  Indebtedness; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 6.9   | Except      as otherwise permitted herein, each Borrower has filed all federal, state      and local tax returns and other reports required by any applicable Laws to      have been filed prior to the date hereof, has paid or caused to be paid      all taxes, assessments, and other governmental charges that are due and      payable prior to the date hereof except to the extent any such taxes,      assessments and other governmental charges are being contested by the      Borrowers in good faith, and has made adequate provision for the payment      of such taxes, assessments, or other charges accruing but not yet payable,      and the Borrowers have no knowledge of any deficiency or additional      assessment in any materially important amount in connection with any      taxes, assessments, or charges not provided for on its    books; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.10   | Except      to the extent that the failure to comply would not materially interfere      with the conduct of the business of such Borrower, each Borrower has      complied with all applicable Laws with respect to (i) any restrictions,      specifications, or other requirements pertaining to the services it      performs, (ii) the conduct of its business, and (iii) the use,      maintenance, and operation of the real and personal properties owned or      leased by it in the conduct of itsbusiness; |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.11   | No      representation or warranty by, or with respect to, the Borrowers contained      herein or in any certificate or other document furnished by the Borrowers      pursuant hereto contains any untrue statement of a material fact or omits      to state a material fact necessary to make such representation or warranty      not misleading in light of the circumstances under which it was      made; |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.12   | Each      consent, approval, or authorization of, or filing, registration, or      qualification with, any Person required to be obtained or effected by each      Borrower in connection with the execution and delivery of this Agreement      and the Note or the undertaking or performance of any obligation hereunder      or thereunder has been duly obtained or  effected; |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.13   | A      list of all existing Indebtedness of the Borrowers for money borrowed, or      under any security agreement, mortgage, or agreement covering the lease by      any Borrower as lessee of real or personal property, is attached hereto as      Schedule B attached hereto; |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.14   | Except      as set forth in the Borrowers’ filings with the Securities and Exchange      Commission or as previously disclosed to Bank in writing, no Borrower has      material leases, contracts, or commitments of any kind (including, without      limitation, employment agreements, collective bargaining agreements,      powers of attorney, distribution arrangements, patent license agreements,      contracts for future purchase or delivery of goods or rendering of      services, bonuses, pension, and retirement plans, or accrued vacation pay,      insurance, and welfare agreements).  To the best of each      Borrower’s knowledge no party is in default under any material agreement      to which it is a party, and no event has occurred which, but for the      giving of notice or the passage of time, or both, would constitute a      default; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.15   | No      Borrower has made any agreement or taken any action which may cause anyone      to become entitled to a commission or finder’s fee as a result of, or in      connection with, the making of the Loan;and |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 6.16   | None      of the Borrowers or any Subsidiary maintains or contributes to any      employee pension benefit plans, as defined in the Employee Retirement      Income Security Act of 1974, asamended. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.   | Affirmative Covenants of      Borrower.  Each Borrower hereby covenants and agrees with      Bank that so long as any of the Obligations remain unsatisfied or any      commitments hereunder remain outstanding, it will comply at all times with      the following affirmativecovenants: |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.1        | Use of Proceeds.  The Borrowers will      use the proceeds of the Loan only for the purposes set forth herein and      will furnish Bank such evidence as it may reasonably require with respect      to such use;   |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 7.2   | Reports to      Bank.  The Borrowers will furnish  Bank:                                                                                                                                                             |

| 7.2.1   | Within      sixty (60) days after the close of each quarterly accounting period in      each fiscal year the Borrowers’ consolidated income statements for such      quarter and balance sheets as of the end of such quarter.  All      such statements shall be in reasonable detail, and certified by the      Borrowers’ authorized representative to have been prepared in accordance      with GAAP; |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.2.2   | Within      ninety (90) days after the close of each fiscal year the Borrowers’      consolidated income statements for such fiscal year and balance sheets as      of the end of such fiscal year.  All such statements and balance      sheets shall be in reasonable detail, including all supporting schedules      and comments; and the statements and balance sheets shall be audited by      independent certified public accountants selected by the Borrowers and      acceptable to Bank, and certified by such accountants to have been      prepared in accordance with GAAP and to present fairly the financial      position and results of operations of the Borrowers.  In      addition, the Borrowers will obtain from such independent certified public      accountants and deliver to Bank, within ninety (90) days after the close      of each fiscal year, their written statement that in making the      examination necessary for their certification they have obtained no      knowledge of any Event of Default by the Borrowers, or disclosing all      Events of Default of which they have obtained knowledge (it being      understood and agreed by Bank that in making their examination such      accountants shall not be required to go beyond the bounds of generally      accepted auditing procedures for the purpose of certifying financial      statements).  Bank shall have the right, from time to time, to      discuss the affairs of the Borrowers directly with such independent      certified public accountants after notice to the Borrowers and opportunity      of the Borrowers to be represented at any such  discussions; |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3   | Agreements,      Etc.  Upon Bank’s request, from time to time, copies of      any or all agreements, contracts or commitments referred to herein      relating to the FF&E; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 7.4   | Maintenance.  The      Borrowers will maintain the FF&E in good condition and repair (normal      wear and tear excepted) and will pay and discharge or cause to be paid and      discharged when due, the cost of repairs to, or maintenance of, the same,      and will pay or cause to be paid in a timely manner all rental or mortgage      payments due on such FF&E.  The Borrowers hereby agree that,      in the event they fail to make or cause to be made any such payment, they      will promptly notify Bank thereof, and Bank, in its discretion, may make      such payment and on demand be reimbursed therefor by the      Borrowers; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.5   | Insurance.  The      Borrowers will maintain public liability insurance (subject to a maximum      of $50,000.00 in deductibles for each claim) and fire and extended      coverage insurance on all FF&E, all in form and amount sufficient to      indemnify the Borrowers for one hundred percent (100%) of the appraised      value of any such lost or damaged FF&E (subject to any deductible      customary in the Borrowers’ industry) or in an amount consistent with the      amount of insurance generally carried on comparable assets within the      industry and with such insurers as may be satisfactory to      Bank.  The Borrowers shall deliver copies of such insurance      policies to Bank.  Such policies shall contain a provision      whereby they cannot be canceled except after thirty (30) days written      notice to Bank.  The Borrowers will cause all such insurance      policies to name Bank as a loss payee as its interests may appear and will      furnish to Bank such evidence of insurance as Bank may      require.  The Borrowers hereby agree that, in the event it fails      to pay or cause to be paid the premium on any such insurance when due,      Bank, in its discretion, may pay such premium and be reimbursed by      Borrower therefor. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 7.6   | Books &      Records.  The Borrowers will keep accurate and complete      Records of their respective accounts, inventory, and the FF&E,      consistent with sound business practice.  The Borrowers, when      requested to do so, will make available for inspection by authorized      representatives of Bank any of its books and Records which relate to the      Collateral and will deliver to Bank any information regarding their      business affairs and financial condition within a reasonable time after      written request therefor; provided that      Bank shall keep confidential all such information  obtained; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.7   | Preservation of Existence;      Compliance with Laws.  Each Borrower will take all      necessary steps to preserve its corporate existence and comply with all      present and future Laws applicable to it in the operation of its business      and all material agreements to which it is  subject; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.8   | Notices.  The      Borrowers will give immediate notice to Bank of (i) any litigation or      proceeding in which it is a party if an adverse decision therein would      require them to pay more than $100,000.00 or deliver assets the value of      which exceeds such sum (whether or not the claim is considered to be      covered by insurance), (ii) the loss of or casualty damage to any item      that is not covered by the insurance described in Section 7.5 or for which      a claim is being asserted in excess of the insured coverage, and (iii) the      institution of any other suit or proceeding involving the Borrowers that      might materially and adversely affect their operations, financial      condition, property, or businessprospects; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.9   | Taxes.  The      Borrowers will pay when due all taxes, assessments, and charges or levies      imposed upon them or on any of their respective property or which they are      required to withhold and pay, except when contested in good faith by      appropriate proceedings with adequate reserves therefor having been set      aside on their books.  However, the Borrowers shall pay all such      taxes, assessments, charges or levies forthwith whenever foreclosure on      any lien that may have attached (or security therefor) appears      imminent; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.10   | Income Tax Returns and      Notices.  The Borrowers will furnish Bank with copies of      federal income tax returns filed by the Borrowers within twenty (20) days      after the filing thereof.  The Borrowers will notify Bank      immediately of the receipt of any notices from the Internal Revenue      Service, or any other taxing authority (including any notice of proposed      assessment, notice of assessment and demand for payment, or notice of      delinquency in payment of payroll taxes), and shall immediately provide      Bank with a copy of the same; |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.11   | Events of      Default.  The Borrowers will notify Bank immediately if      they become aware of the occurrence of any Event of Default or of any      fact, condition, or event that only with the giving of notice or passage      of time or both could become an Event of Default or if they become aware      of any material adverse change in the business prospects, financial      condition (including, without limitation, proceedings in bankruptcy,      insolvency, reorganization, or the appointment of a receiver of trustee),      or results of operations of the Borrowers or of the failure of any      Borrower to observe any of its undertakings  hereunder; |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 7.12   | Places of      Business.  The Borrowers will notify Bank thirty (30)      days in advance of any change in the location of any of their places of      business or of the establishment of any new, or the discontinuance of any      existing, place of business; and |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.13   | Value of      Collateral.  The Borrowers shall promptly transmit to      Bank all information that they may have or receive with respect to the      Collateral which may affect in any way the value of the Collateral or      Bank’s rights or remedies with respectthereto. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.        | Negative      Covenants.  The Borrowers do hereby covenant and agree      with Bank that, so long as any of the Obligations remain unsatisfied or      any commitments hereunder remain outstanding, they will comply at all      times with the following negative covenants and no Borrower shall, unless      Bank shall otherwise have agreed inwriting: |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.1   | Name,      Etc.  Change its name, enter into any merger,      consolidation, reorganization, or recapitalization, or reclassify its      capital stock; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2   | Disposition of      Assets.  Except as otherwise permitted by the Senior Debt      Documents, sell, transfer, lease, or otherwise dispose of all or (except      in the ordinary course of business) any material part of its      assets; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3   | Disposition of      Collateral.  Sell, lease, transfer, assign, or otherwise      dispose of any of the Collateral except in the ordinary course of      business; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.4   | Disposition of Business,      Etc.  Except as otherwise permitted by the Senior Debt      Documents, sell or otherwise dispose of, or for any reason cease      operating, any of its divisions, franchises, or lines of      business; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.5   | Liens.  Mortgage,      pledge, grant, or permit to exist a security interest in, or a lien upon,      any of the Collateral, except for the liens granted hereunder and      Permitted Liens.  Not in limitation but in furtherance of the      immediately preceding sentence and for the avoidance of doubt, no      Indebtedness evidenced by any Senior Debt Document shall be permitted to      be secured by any Lien on anyCollateral; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.6   | Liability.  Except      as otherwise permitted by the Senior Debt Documents, become liable,      directly or indirectly, as guarantor or otherwise for any obligation of      any other Person, except as set forth in the Senior Debt Documents or for      the endorsement of commercial paper for deposit or collection in the      ordinary course of business; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.7   | Indebtedness.  Incur,      create, assume, or permit to exist any Indebtedness except (i) the Loan,      (ii) trade indebtedness incurred in the ordinary course of business      (provided, however, that no Borrower nor any Subsidiary may acquire      inventory other than for cash or on open account except as expressly      approved in writing and in advance by Bank), (iii) Indebtedness secured by      Permitted Liens, and (iv) any indebtedness permitted under any of the      Senior Debt Documents; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 8.8   | Subsidiaries,      Etc.  Except as otherwise permitted by the Senior Debt      Documents, form any subsidiary, make any investment in (including any      assignment of inventory or other property), or make any loan in the nature      of an investment to, any Person, other than investments of the Borrowers      in any Subsidiaries and as previously disclosed to Bank in      writing; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.9   | Loans,      Etc.  Except as otherwise permitted by the Senior Debt      Documents, make any loan or advance to any officer, shareholder, director,      or employee of any Borrower, except for business travel and similar      temporary advances in the ordinary course of  business; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.10   | Prepayment.  Prepay      any Indebtedness for borrowed money except the Obligations, or enter into      or modify any agreement as a result of which the terms of payment of any      of the foregoing Indebtedness are waived or modified; provided, that      the Borrowers may (i) prepay any Indebtedness permitted to be prepaid      under the Senior Debt Documents, and (ii) enter into or modify any      agreement as a result of which the terms of payment of any Indebtedness      incurred pursuant to any of the Senior Debt Documents are waived or      modified; |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.11   | Acquisitions.  Except      as otherwise permitted by the Senior Debt Documents, acquire or agree to      acquire any stock in, or all or substantially all of the assets of, any      Person; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.12   | Misrepresentations.  Furnish      Bank any certificate or other document that will contain any untrue      statement of material fact or that will omit to state a material fact      necessary to make it not misleading in light of the circumstances under      which it was furnished; and |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.13   | Margin      Stock.  Directly or indirectly apply any part of the      proceeds of the Loan to the purchasing or carrying of any “margin stock”      within the meaning of Regulation U of the Board of Governors of the      Federal Reserve System, or any regulations, interpretations, or rulings      thereunder. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.    | Default.  The      occurrence of any one or more of the following events constitutes an Event      of Default hereunder: |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------|

| 9.1   | Payments.  The      Borrowers fail to pay when due any installment of principal or interest or      fee payable hereunder and such failure shall continue for a period of ten      (10) days; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2   | Observance of      Obligations.  The Borrowers fail to observe or perform      any other obligation to be observed or performed by it hereunder and such      failure shall continue for thirty (30) days after Bank’s notice of such      failure to Borrower; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 9.3   | Misrepresentation.  Any      financial statement, representation, warranty, or certificate made or      furnished by, or with respect to, the Borrowers to Bank in connection with      this Agreement, or as inducement to Bank to enter into this Agreement, or      in any separate statement or document to be delivered to Bank hereunder is      materially false, incorrect, or incomplete when  made. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.4   | Inability to Pay      Debts.  Any Borrower admits its inability to pay its      debts as they mature or makes an assignment for the benefit of itself or      any of its creditors; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.5   | Bankruptcy,      Etc.  Proceedings in bankruptcy or for reorganization of      any Borrower, or for the readjustment of any of its debts, under the      Bankruptcy Reform Act of 1978, as amended and codified as 11 U.S.C. §§ 101      et seq., or any      part thereof, or under any other Laws, whether state or federal, for the      relief of debtors, now or hereafter existing, shall be commenced against      or by any Borrower and, except with respect to any such proceedings      instituted by a Borrower, are not discharged within thirty (30) days of      their commencement. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.6   | Receiver,      Etc.  A receiver or trustee is appointed for a Borrower      or for any substantial part of its assets, or any proceedings shall be      instituted for the dissolution or the full or partial liquidation of a      Borrower, and, except with respect to any such appointments requested or      instituted by a Borrower, such receiver or trustee is not discharged      within thirty (30) days of his appointment, and, except with respect to      any such proceedings instituted by a Borrower, such proceedings are not      discharged within thirty (30) days of their commencement, or a Borrower      discontinues business or materially changes the nature of its business, or      the Collateral becomes, in the reasonable judgment of Bank, insufficient      in value to satisfy theObligations; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.7   | Judgments.  Any      Borrower suffers a final judgment for payment of money aggregating in      excess of $500,000.00 (other than to the extent of any judgment as to      which a reputable insurance company has accepted liability) and does not      discharge the same within a period of sixty (60) days unless, pending      further proceedings, execution has not been commenced or, if commenced,      has been effectively stayed; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.8   | Levy, Etc.  A      judgment creditor of a Borrower obtains possession of any of the      Collateral by any means, including (without implied limitation) levy,      distraint, replevin, or self-help; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.9   | Liens.  If any      of the FF&E is purchased on conditional bills of sale, or otherwise,      so that ownership of such FF&E will not vest unconditionally in one or      more of the Borrowers, free from encumbrance, on delivery to the      Borrowers; and |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.10   | Government      Action.  If any governmental authority restricts the      ability of any Borrower to operate, or restricts, limits or prohibits any      Borrower from operating, its gaming business as conducted as of the date      hereof and such restriction has a material adverse effect on the      Borrowers’ operation of theirbusinesses. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 10.    | Materiality and      Acceleration.  Each of the Events of Default is a      material term of this Agreement.  Upon the occurrence and the      continuance of an Event of Default, Bank may, after the end of any      applicable cure period, with five (5) days notice to the Borrowers,      declare the unpaid principal and interest of the Loan due and payable and      pursue any and all remedies provided hereunder or by law; provided that      upon the occurrence of any of the events specified in Sections 9.4, 9.5      and 9.6, all Obligations shall immediately become due and payable without      further action of any kind.  Bank’s failure to act on any such      breach, or tolerating the same for any period of time, does not waive the      breach or otherwise modify or affect the terms or conditions of this      Agreement or Bank’s rights thereunder.  In no event can the      terms or conditions of this Agreement be waived or modified, expressly or      implicitly by any conduct of one or both parties, other than by a writing      signed by both of them. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.    | Remedies.  After      any acceleration pursuant to Section 10, Bank shall have, in addition to      the rights and remedies given to it by this Agreement, all those allowed      by all applicable Laws, including, but without limitation, the Uniform      Commercial Code as enacted in any jurisdiction in which any Collateral may      be located.  Without limiting the generality of the foregoing,      Bank may immediately after such acceleration, without demand of      performance and without other notice (except as may be specifically      required hereunder) or demand whatsoever to the Borrowers, all of which      are hereby expressly waived, and without advertisement, sell at public or      private sale or otherwise realize upon, in Dubuque County, Iowa, or in any      other place where the Collateral may be located, or in such other place or      places as Bank may designate, the whole or, from time to time, any part of      the Collateral, or any interest that the Borrowers may have      therein.  After deducting from the proceeds of sale or other      disposition of the Collateral all expenses (including all reasonable      expenses for legal services), Bank shall apply such proceeds toward the      satisfaction of the Obligations.  Any remainder of the proceeds      after satisfaction in full of the Obligations shall be distributed as      required by applicable Laws.  Notice of any sale or other      disposition shall be given to the Borrowers at least ten (10) days before      the time of any intended public sale or of the time after which any      intended private sale or other disposition of the Collateral is to be      made, which the Borrowers hereby agree shall be reasonable notice of such      sale or other disposition.  At any such sale or other      disposition, Bank may, to the extent permissible under applicable Laws,      purchase the whole or any part of the Collateral, free from any right of      redemption on the part of the Borrowers, which right is hereby waived and      released.  Without limiting the generality of any of the rights      and remedies conferred upon Bank under this paragraph, Bank may, to the      full extent permitted by the applicableLaws: |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.1   | Enter      upon the premises of any Borrower and take immediate possession of any      Collateral, either personally or by means of a receiver appointed by a      court of competent jurisdiction and, for purposes of this Section 11, the      Borrowers hereby agree not to interfere with Bank’s entry upon its      premises and taking possession of such  Collateral; |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.2   | At      Bank’s option, use, operate, manage, and control the Collateral in any      lawful manner; |
|------------------|----------------------------------------------------------------------------------------------------------|

| 11.3   | Collect      and receive all rents, income, revenue, earnings, issues, and profits      therefrom; and |
|------------------|--------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 11.4   | Maintain,      repair, renovate, alter, or remove the Collateral as Bank may determine in      its discretion. |
|------------------|----------------------------------------------------------------------------------------------------------------|

| 12.   | Bank as      Attorney-in-Fact.  The Borrowers hereby appoint Bank to      be the Borrowers’ attorney-in-fact (without requiring Bank to act as such)      for the purpose of carrying out the provisions hereof and taking any      action and executing any instrument which Bank may deem necessary or      advisable to accomplish the purposes hereof, at any time after which an      Event of Default has occurred and is continuing, which appointment as      attorney-in-fact is irrevocable and coupled with an    interest. |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.    | Possession of      Collateral.  It shall not be necessary that Bank take      possession of the Collateral, or any part thereof, prior to the time that      any sale pursuant to this Section is conducted, and it shall not be      necessary that the Collateral, or any part thereof, be present at the      location of such sale; provided, that      Bank shall give notice of such sale to the Borrowers in accordance with      Section 11. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.    | Miscellaneous      Provisions. |
|------------------|--------------------------------|

| 14.1   | Provisions.  The      provisions of this Agreement shall be in addition to those of any      guaranty, pledge or security agreement, note or other evidence of      liability of the Borrowers now or hereafter held by Bank, all of which      shall be construed as complementary to each other.  Nothing      herein contained shall prevent Bank from enforcing any or all other      guaranty, pledge or security agreements, notes or other evidences of      liability of the Borrowers in accordance with their respective      terms. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.2   | Further      Assurance.  From time to time, each party hereto will      execute and deliver to the other party such additional documents and will      provide such additional information as such other party may reasonably      require to carry out the terms of this  Agreement. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.3   | Enforcement and Waiver by      Bank.  Bank shall have the right at all times to enforce      the provisions of this Agreement in strict accordance with the terms      hereof and thereof, notwithstanding any conduct or custom on the part of      Bank in refraining from so doing at any time or times.  The      failure of Bank at any time or times to enforce its rights under such      provisions, strictly in accordance with the same, shall not be construed      as having created a custom in any way or manner contrary to specific      provisions of this Agreement or as having in any way or manner modified or      waived the same.  All rights and remedies of Bank are cumulative      and concurrent, and the exercise of one right or remedy shall not be      deemed a waiver or release of any other right or  remedy. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.4   | Expenses of      Bank.  The Borrowers will, on demand, reimburse Bank for      all expenses, including the reasonable fees and expenses of legal counsel      for Bank, incurred by Bank in connection with the preparation,      administration, amendment, modification, or enforcement of this Agreement      and the collection or attempted collection of the Note (except in the case      of fraud, willful misconduct or gross negligence by Bank), and in      connection with the preparation of documents, filings and other legal      expenses in relation to the initial making of the  Loan. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 14.5   | Notices.  Any      notices or consents required or permitted by this Agreement shall be in      writing and shall be deemed delivered if delivered in person or if sent by      certified mail, postage prepaid, return receipt requested, or electronic      transmission (upon confirmation that the transmission was received), as      follows, unless such address is changed by written notice      hereunder. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.6   | Waiver and Release by      Borrowers.  To the maximum extent permitted by applicable      Laws: |
|------------------|-----------------------------------------------------------------------------------------------------------|

| 14.6.1   | The      Borrowers waive (i) protest of all commercial paper at any time held by      Bank on which the Borrowers are in any way liable, (ii) except as the same      may herein be specifically granted, notice of acceleration and of      intention to accelerate, (iii) notice and opportunity to be heard, after      acceleration in the manner provided in this Agreement, before exercise by      Bank of the remedies of self-help, set-off, or of other summary procedures      permitted by any applicable Laws or by any agreement with the Borrowers,      and except where required hereby or by any applicable Laws, notice of any      other action taken by Bank, and (iv) the right to assert any statute of      limitations as a bar to the enforcement of the lien of this Agreement, or      to any action brought to enforce the Obligations secured by this      Agreement. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.6.2   | Notwithstanding      the existence of any other security interest in the property held by Bank,      or by any other party, Bank shall have the right to determine the order in      which any or all of the property shall be subjected to the remedies      provided herein.  Bank shall have the right to determine the      order in which any or all portions of the Obligations secured hereunder      are satisfied from the proceeds realized after the exercise of the      remedies provided herein.  The Borrowers and any party who      consents to this Agreement, hereby waive any and all right to require the      marshaling of assets in connection with the exercise of any other remedies      permitted by applicable Law, or provided herein;  and |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 14.6.3   | The      Borrowers release Bank and its officers, attorneys, agents and employees      from all claims for loss or damage caused by any act or omission on the      part of any of them except fraud, willful misconduct and gross      negligence. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.7   | Participation.  Notwithstanding      any other provisions of this Agreement, the Borrowers understand that Bank      may at any time enter into participation agreements with one or more      participating banks whereby Bank will allocate certain percentages of its      commitment to them.  The Borrowers acknowledge that, for the      convenience of all parties, this Agreement is being entered into with Bank      only. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.8   | Governing Law; Waiver of Jury      Trial;      Venue. |
|------------------|-------------------------------------------------------|

| 14.8.1   | This      Agreement is entered into and performable in Dubuque, Dubuque County,      Iowa, and shall be subject to, and construed and enforced in accordance      with, the laws of the State ofIowa. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.8.2   | EACH      OF THE PARTIES HERETO IRREVOCABLY WAIVES AS AGAINST THE OTHER PARTY ANY      RIGHTS IT MAY HAVE TO A JURY TRIAL IN RESPECT OF ANY CIVIL ACTION ARISING      UNDER THIS AGREEMENT. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.8.3   | Each      party hereto (i) expressly submits to the jurisdiction of any state or      federal court sitting in, or having jurisdiction over, Dubuque County,      Iowa; and (ii) irrevocably waives any objection which it may now or      hereafter have to the laying of venue in any suit, action or proceeding      brought in any such court. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.9   | Binding Effect; Assignment; Entire      Agreement.  This Agreement shall inure to the benefit of,      and shall be binding upon, the respective successors and permitted assigns      of the parties hereto.  The Borrowers have no right to assign      any of their rights or obligations hereunder without the prior written      consent of Bank.  Except as set forth in Section 14.7, Bank has      no right to assign any of its rights or obligations hereunder without the      prior written consent of the Borrowers.  This Agreement,      including the Exhibits hereto, all of which are hereby incorporated herein      by reference, and the documents executed and delivered pursuant hereto,      constitute the entire agreement between the parties, and may be amended      only by a writing signed on behalf of each party.  All      agreements, instruments and documents referred to in this Agreement are by      this reference made a part of this Agreement for all    purposes. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.10   | Severability.  If      any provision of this Agreement shall be held invalid under any applicable      Law, such invalidity shall not affect any other provision of this      Agreement that can be given effect without the invalid provision, and, to      this end, the provisions hereof areseverable. |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.11   | Counterparts.  This      Agreement may be executed in any number of counterparts, each of which      shall be deemed to be an original, but all of which together shall      constitute but one and the sameinstrument. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
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| 14.12   | Interpretation;Headings.  Words      and phrases herein shall be interpreted and understood according to the      context in which they are used, and all words and phrases used herein      shall be construed as in the singular or plural number, and masculine,      feminine or neuter gender, as the context may require.  The      headings in this Agreement are intended solely for convenience of      reference, and shall be given no effect in the construction or      interpretation of this Agreement. |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.13   | Incorporation by      Reference.  All agreements, instruments and documents      referred to in this Agreement are by this reference made a part of this      Agreement for all purposes. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.14   | Disclaimer.  In      no event shall either party to this Agreement be liable to the other for      indirect, special or consequential damages, including loss of anticipated      profits. |
|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.15   | Liability.  The      Borrowers have selected all parties and items furnishing services or      materials to the FF&E, and Bank has, and shall have, no responsibility      for them, or for the quality of their materials or      workmanship.  Bank’s sole function is that of lender, and the      only consideration passing from Bank to the Borrowers is the loan proceeds      in accordance with and subject to the terms of this      Agreement.  The Borrowers shall have no right to rely on any      procedures required by Bank, the procedures being for Bank’s protection as      lender, and no one else.  The Borrowers shall hold Bank harmless      and indemnify it against claims of any kind, of any persons, including but      without limiting the generality of the foregoing, the Borrowers’      employees, any contractor and such contractor’s employees, any tenant of      the Borrowers, any subtenant or concessionaire of any such tenant, and the      employees and business invitees of any tenant, subtenant or concessionaire      arising from or out of the use or possession of the FF&E in accordance      with the Borrowers’ plans andspecifications. |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 14.16   | Priority of      Documents.  In case of a conflict between a provision of      this Agreement, and the provisions of any other agreement, document or      instrument related to the Loan or the Collateral, the provisions of this      Agreement shall govern. |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |             By: s/Natalie      Schramm |
|--------|----------------------------------------------------------------------|

|   | Name:  Natalie      Schramm |
|--------|---------------------------------------|

|   |   | Title:         Chief Financial Officer |
|--------|--------|-------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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|   | DIAMOND      JO, LLC |
|--------|----------------------|

|   | By:      s/Natalie      Schramm |
|--------|---------------------------------|

|   | Name:  Natalie      Schramm |
|--------|---------------------------------------|

|   |   | Title:        Chief Financial Officer |
|--------|--------|-------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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|   | THE      OLD EVANGELINE DOWNS, L.L.C. |
|--------|---------------------------------------|

|  | By:      s/Natalie      Schramm |
|--|---------------------------------|

|   | Name:  Natalie      Schramm |
|--------|---------------------------------------|

|   |   | Title:        Chief Financial Officer |
|--------|--------|-------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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|  By:      s/Victoria J.      Richter |   |
|-------------------------------------------|--------|

|  Name:       Victoria J. Richter |   |
|--------------------------------------------|--------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 1.   | Peninsula      Gaming, LLC: |
|----------------|-----------------------------|

| 2.   | Diamond      Jo, LLC: |
|----------------|-----------------------|

| 3.   | The      Old Evangeline Downs, L.L.C.: |
|----------------|----------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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| 1.   | Indebtedness      incurred by DJL and OED under the Loan and Security Agreement, dated as of      June 16, 2004, among DJL, OED, the Lenders (as defined in said Loan and      Security Agreement) and Wells Fargo Foothill, Inc., a California      corporation, as the arranger and agent for the Lenders, as such Loan and      Security Agreement was subsequently amended as of November 10, 2004; July      12, 2005; December 6, 2006; and December 22,  2006; |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Indebtedness      incurred by DJL and PGL and guaranteed by OED under the Indenture, dated      as of April 16, 2004, among PGL, Peninsula Gaming Corp., the guarantors      named therein and U.S. Bank National Association, as trustee, as such      Indenture was subsequently amended as of June 16, 2004 and June 30,      2005; |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | Indebtedness      incurred by OED under the Indenture, dated as of February 25, 2003, among      OED, Peninsula Gaming Corp. and U.S. Bank National Association, as      trustee, as such Indenture was subsequently amended as of March 25,      2004; |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | Indebtedness      incurred by OED under a Note delivered pursuant to a Purchase Agreement      between Bart C. Warner and OED; |
|----------------|--------------------------------------------------------------------------------------------------------------------------------|

| 5.   | Indebtedness      of OED as lessee of personal property under the Value Lease Agreement,      dated September 28, 2006, between OED and Copy & Camera, Inc.;      and |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.   | Indebtedness      of DJL as lessee of personal property under the Financed Equipment Sales      Agreement, dated October 30, 2006, between Diamond Jo, LLC and Shuffle      Master, Inc. and the Addendum to Financed Equipment Sales Agreement, dated      January 4, 2007, between DJL and Shuffle Master,  Inc. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NEWYORK      6524131 v13 (2K) |   | Loan      and Security Agreement |
|-------------------------------|--------|----------------------------------|

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