<PAGE 35>

                                                    EXHIBIT 10.25

                   FIRST AMENDMENT TO CHARTER

     This Amendment (the "Amendment"), amending the Charter dated as of 
February 17, 1995 (the "Charter") between American Gaming & Entertainment, 
Ltd. ("AGEL"), owner, and President Mississippi Charter Corporation 
("Charterer"), is made and entered into this 6th day of November, 1998, 
(effective as of December 1, 1997), by Charterer, on the one hand, and 
AGEL, as owner with the concurrence of the following parties (hereinafter 
sometimes referred to collectively as the "AmGam Group"), on the other 
hand: AmGam Associates, a Mississippi partnership ("AmGam"), American 
Gaming & Resorts of Mississippi, Inc., a Mississippi corporation ("AGRM"), 
the Official Committee of the Unsecured Creditors of AmGam, the Official 
Committee of the Unsecured Creditors of AGRM, AGEL and Shamrock Holdings,  
Inc. (formerly known as Bennett Holdings Group, Inc.) ("Shamrock").

     WHEREAS, pursuant to the Charter, Charterer chartered from AGEL the 
vessel known as the Gold Coast Barge, U.S.O.C. No. 995650;

     WHEREAS, Charterer desires to amend the Charter as hereinafter set 
forth; and

     WHEREAS, the parties have entered into a letter agreement dated 
October 22, 1997 setting forth the financial terms of this Amendment, 
agreeing to settle certain litigation, and setting forth other 
understandings among the parties (the "Term Sheet");

     WHEREAS, this Term Sheet has been approved by the United States 
Bankruptcy Court for the Northern District of New York and the United 
States Bankruptcy Court for Southern District of Mississippi.

     WHEREAS, the members of the AmGam Group have proposed to settle all 
disputes among themselves pursuant to an agreement dated November 11, 1996 
(the "Global Settlement");

     NOW THEREFORE, in consideration of the foregoing and of the 
representations, warranties and covenants in this Amendment and in the 
Charter, and for other good and valuable consideration set forth in the 
Term Sheet, the parties agree that the Charter shall be amended to conform 
with provisions of the Term Sheet as follows:

                           DEFINITIONS

Capitalized terms used herein and not otherwise defined or redefined shall 
have the meanings set forth in the Charter.  The following terms, however, 
shall be defined for purposes of this Amendment and for purposes of the 
Charter provisions that survive this Amendment as follows:


<PAGE 36>

     1.     The term "Owner" as used in this Charter shall refer to AGEL.
     
     2.  The term "Charter" as used hereinbelow and in the Charter shall
hereinafter refer to the Charter, as it has been amended by this Amendment. 
  Any reference to the Charter in the Charter itself, whether directly or 
through the use of words such as "herein," shall refer to the Charter as 
amended by this Amendment.

     3.     The term "Closing Date" shall mean the date of execution of 
this Amendment.

     4.     The term "Payee" shall refer to the law firm of Rimmer, 
Rawlings, MacInnis & Hedglin, in its capacity as the escrow agent for the 
escrow account of AmGam established pursuant to the Order of the Bankruptcy 
Court dated April 28, 1996 (as amended on August 1, 1996), or such other 
person or entity designated by the Bankruptcy Court or designated to 
Charterer by the Owner in writing.

                      I. CHARTER PERIOD

     Section 2 of the Charter shall be amended by deleting the entire 
Section 2 and substituting, in lieu thereof, the following:

     The amended charter period for the Vessel shall extend from December 
1, 1997 until April 15, 2000, unless earlier terminated because the Vessel 
has been sold to Charterer or a third party (the "Charter Period").   The 
date of the expiration of the Charter Period shall be referred to herein as 
the "Charter Expiration Date".  Upon the Charter Expiration Date, unless 
the Vessel shall have been purchased by Charterer pursuant to Section 15 of 
the Charter  (as amended by this Amendment), the Vessel shall be returned 
to the Owner in accordance with the terms of Section 13 of the Charter.

                 II. CHARTER HIRE AND INITIAL PAYMENT

     Section 3 of the Charter shall be amended by deleting the entire 
Section 3 and substituting, in lieu thereof, the following:

     (a)  On the Closing Date, Charterer shall pay the Payee the sum of One 
Million, Five Hundred Twenty-Five Thousand Dollars 


<PAGE 37>

($1,525,000.00) representing past due sums pursuant to the original charter 
and in addition thereto, all monthly Charter Hire payments that have 
accrued since December 1, 1997, up until the Closing Date.  In connection 
therewith, the parties shall execute the Agreement of Release attached 
hereto as Exhibit A.

     (b)  The Charter Hire owed by Charterer under the Charter for each 
month of the Charter Period shall be Two Hundred Fifteen Thousand Dollars 
($215,000.00).  The Charter Hire for any partial calendar month during the 
Charter Period shall be equal to Two Hundred Fifteen Thousand Dollars 
($215,000.00) multiplied by a fraction the numerator of which is the number 
of Charter Period days in such partial month and the denominator of which 
is the total number of days in such month.  From and after the Closing 
date, the Charter Hire for each month shall be paid prior to the tenth of 
the month.

     (c)  From and after the Closing date, if the Charter Hire in any 
particular month is not paid by the tenth calendar day of such month, then 
Charterer shall pay to Payee a late fee of $21,500, together with the 
Charter Hire for such month.

                          III.  INSURANCE

     Subsection (a) of Section 5 of the Charter shall be amended to delete 
Subsection 5(a) and to substitute the following language prior to the 
"provided however":

(a)   Charterer shall obtain and maintain during the Charter Period, at 
Charterer's sole cost and expense, insurance in such amounts covering the 
Vessel and all equipment aboard the Vessel against such risks as Owner 
shall reasonably determine to be desirable to fully protect its economic 
interests in the Vessel (which amounts shall in no event be less than 
$9,000,000, provided that the value survey submitted to Charterer's 
underwriter supports such value to the reasonable satisfaction of such 
underwriter), and shall obtain and maintain during the Charter Period at 
Charterer's sole cost and expense general liability and such other 
insurance policies with respect to the Vessel and the operation to be 
conducted on the Vessel and at the Dockage Site, and in such amounts, as 
Charterer shall reasonably determine to be necessary or appropriate.  In no 
event shall the amount of general liability insurance be less than 
$12,000,000.  Both the Owner and Charterer shall be named as insureds with 
waiver of subrogation under the general liability policies (and such other 
policies as Charterer shall deem appropriate) and as  loss payees under all 
other insurance policies so obtained and maintained. Charterer's 
responsibility for the cost of the insurance required to be obtained and 
maintained under this Section 5 shall for the cost of the insurance 
required to be obtained and maintained under this Section 5 shall commence 
upon delivery of the Vessel to Charterer at the Delivery Site on the 
Commencement Date.


<PAGE 38>

                   IV. REPRESENTATIONS AND WARRANTIES

     Section 6(b) of the Charter shall be amended to add a new paragraph 
(xi), which shall read as follows:

     (xi) Except as disclosed on Exhibit B to this Amendment, (A) Charterer 
is not aware of nor has it received any notice, written or oral, by any 
governmental agency or entity that an order or directive has been issued or 
will be issued relating to any known condition or defect with respect to 
the Vessel; (B) Charterer is unaware of any condition or defect that may 
result in a claim for a breach of the representations and warranties of 
Owner under Section 6(a) of the Charter, other that those items released 
pursuant to the release attached hereto as Exhibit A; and  (C) following 
the date hereof, Charterer will disclose to Owner each and every notice, 
written or oral, by any governmental agency or entity advising that an 
order or directive has been or will be issued relating to a breach of any 
representation and warranty under Section 6(a) hereof.

          V.  SURVIVAL OF REPRESENTATIONS; INDEMNIFICATION

     Section 8(a) shall be amended to add the following clause at the end 
of the sentence comprising Section 8(a) of the Charter, to read as follows:

"; provided, however, that Owner shall be responsible for any breach of the 
representations and warranties of Owner under Section 6(a) of the Charter 
only to the extent that such breach was not known  to  Charterer  on  the  
Closing  Date. Breaches  of representations and warranties that were known 
to Charterer on or before the Closing Date are waived and released to the 
fullest extent of the law."

                          VI.  REDELIVERY

     The first sentence of Section 13(a) shall be deleted in its entirety, 
and the following shall be substituted in lieu thereof:

     (a)  Subject to Charterer's exercise of the Purchase Option set forth 
in Section 15 of the Charter (as amended by this Amendment), Owner shall 
cause the Vessel (other than the Electrical Equipment, the Fire Pump and 
the Transition Equipment) to be removed from the Dockage Site no later than 
ten (10) business days after the Charter Expiration Date.

     Section 13(b) shall be amended to read as follows:

     Upon redelivery of the Vessel, the Owner may require that the Vessel 
be surveyed by a qualified independent marine surveyor 


<PAGE 39>

mutually acceptable to the Owner and the Charterer. Charterer shall 
reimburse Owner for one-half of the reasonable costs of the marine survey 
obtained pursuant to this Section 13(b) up to a maximum reimbursement of 
Five Thousand ($5,000.00) Dollars. In addition to Charterer's obligations 
pursuant to Sections 9 and 11 of the Charter, which shall remain intact, 
Charterer shall be obligated to redeliver the Vessel in the same condition 
that Charterer last used the Vessel in its normal business operations.


          A new section 13(c) shall be added as follows:

     (c)  On February 1, 2000 (assuming the Charter has not been terminated 
prior thereto), Charterer shall establish an escrow account, and shall 
escrow up to $500,000.00 of the Charter Hire due from February 1, 2000 
until the end of the Charter Period (the "Removal Escrow"), to fund Owner's 
share of the cost of the removal of the Vessel at the termination of the 
Charter Period.  The Charterer shall  fund its  equal  share of the Removal 
Escrow concurrently with Owner.  If the amounts held in the Removal Escrow 
are greater than the cost of the removal of the Vessel under Section 13(a), 
then any excess shall be paid to Owner and Charterer equally upon the 
removal of the Vessel in accordance with Section 13(a).

          A new Section 13(d) shall be added to the Charter, to read, in 
its entirety, as follows:

     (d)  Upon termination of the Charter, for any reason (i) Charterer 
shall leave in place all wiring, connections, switches, splitters, 
couplings and junctions necessary to operate slot and player tracking 
Systems; and (ii) Charterer shall be entitled to remove from the Vessel all 
furniture, slot, tracking and other equipment and all other property owned 
by Charterer;

                    VII. PURCHASE OPTION

     Section 15 shall be deleted in its entirety, and a new Section 15 
shall be substituted in lieu thereof to read as follows:

     Section 15.  Purchase Option.  At any time during the Charter Period, 
Charterer shall have the right to make a written offer to purchase the 
Vessel, which offer shall be addressed to every member of the AmGam Group, 
or their assigns.  The AmGam Group (or their assigns) shall have the right 
to accept or reject the offer within thirty  days  receipt  of  the  
written  notice  from Charterer. Charterer's written offer shall state "The 
AmGam Group shall have the right to accept or reject this offer within 
thirty days of receipt of this written notice from Charterer, and if it 
this written offer is not rejected in 30 days, it is deemed accepted." The 
offer shall contain the following language:


<PAGE 40>

"If the Charterer delivers a written offer containing the 
foregoing language and if the AmGam Group does not reject the 
offer within 30 days of receipt of the written offer, then such 
offer shall be deemed to have been accepted."

Any rejection shall be communicated in writing. Upon acceptance, the 
parties shall take all actions necessary or appropriate (including the 
cancellation of any liens that members of the AmGam Group shall have) to 
cause Charterer to receive a good and merchantable title to the Vessel, 
free and clear of all liens and encumbrances.

                       VIII.  ASSIGNMENT

     Section 17 of the Charter shall be amended by deleting Section 17 in 
its entirety and substituting in lieu thereof, the following:

     Section 17.  Assignment of Sale of Barge.

     (a)  The Charter, the right to receive payments thereunder, or any 
other interest therein, may be assigned by individual members of the AmGam 
Group upon the written consent of Charterer, which consent shall not be 
unreasonably withheld; provided, however, that the assignee must assume in 
writing all of the assignor's obligations under the Charter  (including 
without limitation, Owner's indemnification obligations pursuant to Section 
8 of the Charter). No assignment shall be permitted unless the transferring 
party and the transferee shall have received all governmental approvals, 
consents and actions necessary to effectuate such Transfer, and such 
Transfer shall not unreasonably disturb Charterer's peaceful enjoyment of 
the Vessel during the Charter Period.  Any assignment of a percentage 
interest in the Charter must also include the sale of the same percentage 
interest in the Vessel pursuant to Section 17(b), and the "Sale Notice" 
provided for in Section 17(b) shall include the terms and conditions of the 
assignment of the Charter.

     (b)  The Vessel, or any interest therein, may be sold subject to the 
Charter at any time during the Charter Period; provided, however, that 
Charterer shall have the first right of refusal with respect to any such 
sale.  Notice of a proposed sale shall be provided to Charterer by 
registered mail, setting forth the name of the proposed transferee, the 
price to be paid and any other relevant terms of the proposed transaction 
(a "Sale Notice"). Charterer shall have the right, exercisable within 
thirty days of the date that a Sale Notice is received, (a) to purchase 
only the Vessel, or any interest therein, on the same terms and conditions 
set forth in the Sale Notice, in which case the Charter shall remain 
outstanding, or (b) to purchase both the interest in the 


<PAGE 41>

Vessel and the interest in the Charter proposed to be transferred. If 
Charterer does not exercise its right of first refusal, then the proposed 
transfer can be effected on the same terms and conditions contained in the 
Sale Notice within sixty days of the termination of the thirty-day period 
during which Charterer had the right to exercise its right of first 
refusal. If the Vessel, or such interest therein, is not sold within such 
sixty-day period, then the proposed sale cannot be consummated without 
giving Charterer another Sale Notice and allowing Charterer to exercise its 
right of first refusal.

     (c)  The AmGam Group shall structure any settlement among the members 
of the AmGam Group so that, if Charterer exercises its rights to purchase 
the Vessel (or portion thereof) pursuant to this Section 17, Charterer 
shall receive a good and merchantable title to the Vessel (or portion 
thereof), free and clear of all liens or encumbrances.

                         IX.  NOTICES

     Section 19 of the Charter shall be amended to provided for notice as 
follows:

If to Charterer:

President Mississippi Charter Corporation
c/o President Casinos, Inc.
800 North First Street
St. Louis, Missouri 63102
Fax:     (314) 622-3049
Attention:     John S. Aylsworth

With a copy to;

Virginia Boulet
Phelps Dunbar, L.L.P.
400 Poydras Street
New Orleans, Louisiana 70130

If to Owner, to all of the following:

American Gaming & Entertainment, Ltd.

c/o Douglas Wellington
1 Woodland Avenue
Paramus, New Jersey 07652

with a copy to:

Robert A. Byrd
145 Main Street
Biloxi, Mississippi 39530


<PAGE 42>

AmGam Associates and American Gaming & Resorts of Mississippi, Inc.
c/o John Hedglin
Rimmer, Rawlings, MacInnis & Hedglin, P.A.
1290 Deposit Guaranty Plaza
Jackson, Mississippi 39201

The Official Committee of the Unsecured Creditors of AmGam Associates
c/o T. Glover Roberts
Sheinfeld, Maley & Kay, P.C.
1700 Pacific Avenue
Suite 4400
Dallas, Texas 75201

The Official Committee of the Unsecured Creditors of American Gaming & 
Resorts of Mississippi, Inc.
c/o William S. Boyd, III
Attorney at Law
1225 Thirty-First Avenue
Gulfport, Mississippi 39501

Shamrock Holdings, Inc.
c/o Richard Breeden
2 Clinton Square
Syracuse, New York 13202

with a copy to:

Brenda T. Rhoades
Baker & Botts, L.L.P.
2001 Ross Avenue
Dallas, Texas 75201

     WHEREFORE, this Amendment has been executed by the parties as of the 
date first above mentioned.

PRESIDENT MISSISSIPPI CHARTER CORPORATION

________________________
BY:
ITS:

PRESIDENT RIVERBOAT CASINO-MISSISSIPPI, INC.

________________________
BY:
ITS:


<PAGE 43>

AMERICAN GAMING & ENTERTAINMENT, LTD.

J. DOUGLAS WELLINGTON     
________________________
BY: J. Douglas Wellington
ITS: President & CEO


AMGAM ASSOCIATES

J. DOUGLAS WELLINGTON     
________________________
BY: J. Douglas Wellington
ITS: Manager


AMERICAN GAMING & RESORTS OF MISSISSIPPI, INC.

J. DOUGLAS WELLINGTON     
________________________
BY: J. Douglas Wellington
ITS: President


THE OFFICIAL COMMITTEE OF THE UNSECURED CREDITORS OF AMGAM ASSOCIATES


________________________
BY:
ITS:


THE OFFICIAL COMMITTEE OF THE UNSECURED CREDITORS OF AMERICAN GAMING & 
RESORTS OF MISSISSIPPI, INC.


________________________
BY:
ITS:


SHAMROCK HOLDINGS, INC.


________________________
BY:
ITS:

Subject to Bankruptcy Court approval in the United States Bankruptcy Court 
for the Northern District of New York.


<PAGE 44>

STATE OF ___________________

COUNTY OF __________________

     Personally appeared before me, the undersigned authority in and for 
the said County and State, within my jurisdiction, the within  
_____________________, who acknowledged that he is _____________________, 
respectively of PRESIDENT MISSISSIPPI CHARTER CORPORATION, a 
_________________ Corporation, and that for and on behalf of said 
corporation, and as its act and deed, he signed, sealed and delivered the 
above and foregoing instrument for the purposes mentioned on the day and 
year therein mentioned, after first having been duly authorized by said 
corporation so to do.
     GIVEN under my hand and official seal of office on this the ___ day of 
________________________, 1998.


                                           ______________________
                                              Notary Public 
My Commission Expires:

________________________

STATE OF ___________________

COUNTY OF __________________

     Personally appeared before me, the undersigned authority in and for 
the said County and State, within my jurisdiction, the within  
_____________________, who acknowledged that he is _____________________, 
respectively of PRESIDENT RIVERBOAT CASINO-MISSISSIPPI, INC., a 
_________________ Corporation, and that for and on behalf of said 
corporation, and as its act and 


<PAGE 45>

deed, he signed, sealed and delivered the above and foregoing instrument 
for the purposes mentioned on the day and year therein mentioned, after 
first having been duly authorized by said corporation so to do.
GIVEN under my hand and official seal of office on this the ____ day 
of ________________________, 1998.

                                           _____________________
Notary Public 
My Commission Expires:


________________________




STATE OF New Jersey

COUNTY OF Bergen

          Personally appeared before me, the undersigned authority in and 
for the said County and State, within my jurisdiction, the within J. 
Douglas Wellington, who acknowledged that he is President & CEO, 
respectively of AMERICAN GAMING & ENTERTAINMENT, LTD., a Delaware 
Corporation, and that for and on behalf of said corporation, and as its act 
and deed, he signed, sealed and delivered the above and foregoing 
instrument for the purposes mentioned on the day and year therein 
mentioned, after first having been duly authorized by said corporation so 
to do.
     GIVEN under my hand and official seal of office on this the 26 day of 
October, 1998.

                                             MONICA SHAMON
                                             _________________
Notary Public 
My Commission Expires:
Dec. 8, 2002