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Exhibit 10.5
 EXHIBIT A
  
  SENIOR SECURED CONVERTIBLE NOTE
DUE JANUARY 1, 2008
 Las Vegas Gaming,
Inc. 4000 W. Ali Baba Lane, Las
Vegas, NY 89118 Company Note(s)
 CAMOFI Master LDC Holder Maturity Date
 Section 1 Definitions
 Alternate Consideration
 Business Day
 Change of Control Transaction
 1




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Common Stock
 Conversion Date
 Conversion Price
 Conversion Shares
 Effectiveness Period
 Equity Conditions
 Event of Default
 Exchange Act
 Fundamental Transaction
 Late Fees
 2




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Mandatory Prepayment Amount
 Monthly Redemption
 Monthly Redemption Amount
 Monthly Redemption Date
 Monthly Conversion Price
 Optional Prepayment Amount
 Original Issue Date
 Person
 Purchase Agreement
 Registration Rights Agreement
 Registration Statement
 Securities Act
 Subsidiary
 Threshold Period
 Trading Day
 Trading Market
 Transaction Documents
 3




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VWAP
 Section 2 Prepayment and Commitment Fee
 Optional Prepayment
 Mandatory Prepayment
 Commitment Fee
 Section 3. Registration of Transfers and Exchanges
 Different Denominations
 Investment Representations
 Reliance on Note Register
 Section 4. Share Issuance Limitations; Holders Restriction on Shares
 4




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Section 5 Conversion
 Voluntary Conversion Annex A Notice of Conversion Conversion Date
 Automatic Conversion
 Conversion Price
 5




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Conversion Limitations Holders Restriction on Conversion
 Mechanics of Conversion
 Conversion Shares Issuable Upon Conversion of Principal Amount
 Delivery of Certificate Upon Conversion
 6




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Failure to Deliver Certificates
 Obligation Absolute; Partial Liquidated Damages provided however
 7




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Compensation for Buy-In on Failure to Timely Deliver Certificates Upon
Conversion Buy-In
 Reservation of Shares Issuable Upon Conversion
 Fractional Shares
 8




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Transfer Taxes
 Section 6 Certain Adjustments
 Stock Dividends and Stock Splits
 Subsequent Equity Sales
 9




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Pro Rata Distributions
 Calculations
 Notice to Holders
 Adjustment to Conversion Price
 Notice to Allow Conversion by Holder
 10




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provided
 Fundamental Transaction Fundamental
Transaction Alternate Consideration
 11




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Exempt Issuance
 Section 7 Monthly Redemption
 Monthly Redemption.
 Redemption Procedure ab initio
 Section 8 Negative Covenants
    12




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Section 9 Events of Default
 Event of Default
    13




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14




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th
 provided however
    Remedies Upon Event of Default
 15




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Section 10 Seniority
  Section 11 Miscellaneous
 Notices (702) 733-4907), Attn: Zak Khal, President,
 Absolute Obligation pari passu
 Lost or Mutilated Note
 Security Interest
 16




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Governing Law New York Courts
 Waiver
 Severability
 17




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Next Business Day
 Headings
  18




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LAS VEGAS GAMING, INC._/s/ Russell R. RothRussell R. Roth, CEO
 19




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ANNEX A
 NOTICE OF CONVERSION
 Company Common Stock
   Conversion calculations:Date to Effect Conversion:Principal Amount of Notes to be Converted:Number of shares of Common Stock to be issued:Signature:Name:Address:
 20




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Schedule 1
 CONVERSION SCHEDULE
   AggregatePrincipal AmountRemainingSubsequent toConversionDate of Conversion
    
    
    
    
    
    (or original(or for first entry,
    
    Amount of
    
    
    PrincipalOriginal Issue Date)
    
    Conversion
    
    
    Amount)
    
    
    Company Attest
 21