**Exhibit 10.3**

 

 **AIA Document G701-2001**

***Change Order***

 
| Owner      | ý |
|------------|--------|
| Architect  | ý |
| Contractor | ý |
| Field      | ý |
| Other      | o      |

 
| **PROJECT***(Name and address)*        | **CHANGE  ORDER NUMBER:**         | 001                 |
|----------------------------------------|-----------------------------------|---------------------|
|                                   | **HARD  ROCK HOTEL & CASINO** |                |   |
|                                   | 777 BEACH  BOULEVARD              | **DATE:**           | October 7,  2004 |
|                                   | BILOXI, MS  39530                 |                |   |
|                                   |                              |                |
| **TO  CONTRACTOR**(*Name and address*) | **ARCHITECT’S  PROJECT NO**  | 23020               |
|                                   | **ROY  ANDERSON CORP**            | **CONTRACT  DATE:** | December 24, 2003 |
|                                   | PO BOX 2                          | **CONTRACT  FOR**   | Hard Rock Construction |
|                                   | GULFPORT, MS  39502               |                |   |
|                                        |                                   |                     |  |  |  |

 

**THECONTRACT IS CHANGED AS FOLLOWS**

 

Drywall and EIFSchanges to accommodate the finalized Architectural design for each area

 
| 1  Casino                                                                                                           |   | 894,631   |   |
|--------------------------------------------------------------------------------------------------------------------------|--------|-----------|--------|
| •  Revised Buffet layout to a station type configuration                                                            |   |      |   |
| •  Revised Casino, Steak House, High Limit and Buffet Ceiling design                                                |   |      |   |
| •  Added program space for 24/7 Dinner                                                                              |   |      |   |
| •  Revised Center Bar Design                                                                                        |   |      |   |
| • Premium  for labor requirement (Drywall portion only no EIFS)                                                     |   |      |   |
|                                                                                                                     |   |      |   |
| 2  Lowrise  Building                                                                                                |   | 1,796,392 |   |
| • Revised  design for Pool club, VIP Lounge, Green Rooms, Warehouse Spaces, Mech and  Elec Spaces                   |   |      |   |
| •  Additional 31,000 sf of program spaces for BOH, Retail, Restaurant, Spa,  Office, Mech, Elec & Misc. support |   |      |   |
| • Build out Executive Office Spaces and added  load bearing walls requirement at Spa and Office area                |   |      |   |
| •  Revised ceiling design at various Lowrise area with greater detailing and  elevation changes                     |   |      |   |
| •  Premium for labor requirement (Drywall portion only no EIFS)                                                     |   |      |   |
|                                                                                                                     |   |      |   |
| 3  Hotel                                                                                                            |   | 241,351   |   |
| •  Additional 10 typical guestrooms and 2 suites                                                                    |   |      |   |
| •  Typical guestroom and hallway design changes                                                                     |   |      |   |
| •  Premium for labor requirement (Drywall portion only no EIFS)                                                     |   |      |   |
|                                                                                                                     |   |      |   |
| 4  Additional  concrete formwork scope at Parking Garage                                                            |   | 74,141    |   |
|                                                                                                                     |   |      |   |
| 5  Additional  concrete formwork scope at the Hotel                                                                 |   | 241,296   |   |
|                                                                                                                     |   |      |   |
| 6  Additional  concrete formwork scope at the Lowrise and Casino                                                    |   | 174,037   |   |
|                                                                                                                     |   |      |   |
| 7  Additional  operators requirement                                                                                |   | 152,401   |   |
|                                                                                                                     |   |      |   |
| 8  Additional  doors, frames and hardware to accommodate the added program spaces and design  revisions.            |   | 66,684    |   |
| Total                                                                                                                    |   | 3,640,933 |   |

 
|                                                                       |   |   |       |
|----------------------------------------------------------------------------|--------|--------|------------|
| The original Contract Sum Was                                              |   | $      | 81,957,183 |   |
| The Net Change By Previously Authorized  Change Orders                     |   | $      | 0          |   |
| The Contract Sum Prior To This Change Order  Was                           |   | $      | 81,957,183 |   |
| The Contract Sum Will Be Increased By This  Changer Order in the Amount of |   | $      | 3,640,933  |   |
| The New Contract Sum Including This Change  Order Will Be                  |   | $      | 85,598,116 |   |

 
| The Contract  Time will be increased by          **Zero (0)**         Days |               |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|
| The date of  Substantial Completion as of the date of this Change Order therefore is                                                                                 | **July 23,  2005** |

 

**NOTE:**This Change Order does not include changes in the Contract Sum, Contract Timeor Guaranteed Maximum Price Which have been authorized by Construction ChangeDirective until the cost and time have been agreed upon by both the Owner andContractor, in which case a Change Order is executed to supersede theConstruction Change Directive

 

**NOT VALIDUNTIL SIGNED BY THE ARCHITECT, CONTRACTOR AND OWNER**

 
| Paul  Steelman Design Group |       | Roy Anderson  Corp          |       | Premier  Entertainment Biloxi LLC (Premier)             |
|-----------------------------|------------|-----------------------------|------------|---------------------------------------------------------|
| **ARCHITECT***(Firm Name)*  | * *   | **CONTRACTOR***(Flrm Name)* | * *   | **OWNER***(Firm Name)*Premier Finance Biloxi Corp (PFC) |
|                        | * *   |                        | * *   |                                                    |
| 3330 W  Desert Inn Road     |       | P.O.BOX 2                   |       | P.O. BOX 268                                            |
| Las Vegas,  NY 89102        |       | Gulfport, MS  39502         |       | Biloxi, MS  39533-0268                                  |
| **ADDRESS**                 | ** ** | **ADDRESS**                 | ** ** | **ADDRESS**                                             |
|                        |       |                        |       |                                                    |
| /s/ Robert  A. Murphy       |       | /s/ Meng  Chai              |       | /s/ Joe Billhimer                                       |
| **By***(Signature)*         | * *   | **By***(Signature)*         | * *   | **By***(Signature)*                                     |
|                        |       |                        |       | For Premier  and PFC                                    |
| Robert A.  Murphy           |       | Meng Chai                   |       | Joe  Billhimer                                          |
| (Type Name)                 |       | (Type Name)                 |       | (Type Name)                                             |
|                        |       |                        |       |                                                    |
| 10/29/04                    |       | 10/12/04                    |       | 10/22/04                                                |
| **DATE:**                   | ** ** | **DATE:**                   |       | **DATE:**                                               |

 

AIA Document G701 - 2001.Copyright 1978 and 2001 by The American Institute ofArchitects.  All rights reserved.  Warning: This AIA Document is protected bythe U.S. Copyright Law and International Treaties.  Unauthorized reproduction or distribution ofthis AIA Document, or any Portion of it, may result in severe civil andcriminal penalties and will be prosecuted to the maximum extent possible underthe law.  This document was produced byAIA software under Order No 1000097216 1 which expires on 2/8/2005, and is notfor resale.

 

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