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                                                                    EXHIBIT 10.5

                              EMPLOYMENT AGREEMENT



THIS EMPLOYMENT AGREEMENT is made and entered into as of, March 24, 2003,
(Employment Agreement") by and between The Majestic Star Casino, LLC ("the
Company") and Troy L. Keeping ("Executive).

                                    RECITALS

A.       The Company and the Executive desire to enter into an Employment
         Agreement, which supersedes any and all other agreements, either oral
         or in writing with respect to the employment of Executive by the
         Company.

B.       The Company and the Executive desire that the Employment Agreement
         shall become effective on March 24, 2003.

1.       Terms

         The Company hereby agrees to employ Executive, and Executive hereby
         agrees to serve the Company, on the terms and conditions of the
         Employment Agreement, for Twenty-Four (24) month period ("Period of
         Employment") commencing on or about May 1, 2003 (such Period of
         Employment being subject to earlier termination as provided herein).
         Upon the expiration of the Period of Employment, Executive's employment
         with the Company shall cease, unless mutually extended by both parties.

2.       Duties and Services

         During the period(s) of employment, Executive agrees to serve the
         Company as its Vice President and Assistant General Manager for its
         Gary, Indiana location and offices and positions of the Company within
         his areas of expertise and to perform such other reasonable and
         appropriate duties consistent with such positions (s) as may be
         requested of him by the President and Chief Executive Officer and /or
         his designee of the Company, in accordance with the terms herein set
         forth. Excluding periods of personal time off to which Executive is
         entitled, Executive shall devote his full time energy and skills to the
         business and affairs of the Company and to the promotion of its
         interests. The Executive shall perform all such duties to the best of
         his ability and in a diligent manner. Executive may be reasonably
         required to travel outside Gary, Indiana from time to time. Executive
         acknowledges and agrees that this Employment is subject to the
         licensing and regulatory control of the Indiana Gaming Control
         Commission and various other state, county and city gaming regulatory
         enforcement agencies (collectively the "Gaming Authorities") which may
         require that Executive be investigated for personal suitability and
         licensing. Executive shall fully cooperate with the Gaming Authorities
         in order that he may obtain all required licenses, permits, approvals
         or findings of suitability required in connection with his employment
         hereunder. Company agrees to pay all reasonable costs associated with
         licensing of Executive.



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3.       Compensation

         (a)      Salary. As compensation for his services hereunder, the
                  Company shall pay Executive, during the Period of Employment,
                  an annual salary of One Hundred Fifty-Eight Thousand, Six
                  Hundred Dollars ($ 158,600) less all applicable federal, state
                  and local taxes, social security and other governmental
                  mandated deductions, which shall be payable in installments in
                  accordance with the Company's compensation schedule as in
                  existence from time to time. After six months (6) of
                  employment, the Executive shall receive a performance review
                  at which time he shall be considered for a merit increase in
                  his annual salary. Thereafter, Executive will be eligible for
                  a performance review on the anniversary date of his original
                  hire date.

         (b)      Executive shall be entitled to participate in the managerial
                  incentive plan pursuant to which bonus distributions are made.

         (c)      Fringe Benefits. For such period of time as Executive is
                  employed by the Company during the Period of Employment,
                  Executive shall receive coverage for himself and eligible
                  dependents under the Company's medical insurance program (as
                  such program is in effect from time to time) on terms no less
                  favorable than those generally made available to the Company's
                  executives. Executive shall receive life insurance coverage at
                  three (3) times his annual pay as well as long-term and
                  short-term disability. In addition, Executive shall receive a
                  Five Thousand Dollar ($5,000) per annum allowance for
                  unreimbursed medical expenses submitted in accordance with
                  expense reporting procedures. Nothing contained herein shall
                  preclude the Executive from participating in the any present
                  or future employee benefit plans of the Company, including
                  without limitation any 401 (k) plan, profit- sharing plan,
                  savings plan, deferred compensation plan and health and
                  accident plan or arrangement, if he meets the eligibility
                  requirements therefor.

         (d)      Vacation. Executive shall be entitled to three (3) weeks
                  vacation to be taken at time or times mutually acceptable to
                  Executive and the Company, in accordance with the vacation
                  policy in effect at the time.

         (e)      Business Expenses. All reasonable travel and other expenses
                  incident to the rendering of services by Executive hereunder
                  shall be paid by the Company. If any such expenses are paid in
                  the first instance by Executive, the Company shall reimburse
                  him therefor on presentation of appropriate documentation
                  required by the Internal Revenue Code and Regulations or
                  otherwise required under the Company policy in connection with
                  such expenses.

4.       Early Termination

         (a)      Notwithstanding the provisions of Section 1 hereof, the
                  Executive may be terminated by the Company for Cause (as
                  defined herein), in which event the period of employment
                  hereunder shall cease and terminate and the Company



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                  shall have no further obligation or duties under this
                  Employment Agreement, except for obligations accrued and
                  earned under Section 3 as of the date of termination.

         (b)      Prior to termination for a performance deficiency as described
                  in Sections 4(a)(v), (vi), (vii) and (viii). Executive shall
                  be given notice of deficiency and thirty (30) days within
                  which to cure the same.

         For the purposes of this Employment Agreement ("Cause") shall be deemed
         to exist only upon (i) conviction of a felony (ii) embezzlement or
         misappropriation of funds or property of the Company or any affiliates;
         (iii) failure to obtain and maintain during the period (s) of
         employment all licenses, permits, approvals or findings or suitability
         with Gaming and other Regulatory Authorities approval or finding of
         suitability; (iv) conviction of any criminal or other improper act
         which could result in the suspension or revocation of any such license,
         permit, approval or finding of suitability; (v) Executive's repeated
         failure to comply with any policies or procedures of the Company
         whether or not now in effect; (vi) upon the material breach by
         Executive of this Employment Agreement; (vii) excessive absenteeism in
         accordance with Company guidelines on the part of the Executive or
         (viii) any other conduct, such as moral turpitude which has or may
         reasonably be expected to have a material adverse effect on the Company
         or the business of the Company.

         (c)      In addition, the Period of Employment hereunder shall cease
                  and terminate upon the earliest to occur of the following
                  events: (i) death of executive, or (ii) the inability of
                  Executive by reason of physical or mental disability to
                  continue the proper performance of his duties hereunder for a
                  period of sixty (60) consecutive days (subject to the
                  requirements of the Americans with Disabilities Act and Family
                  Medical Leave Act). Upon the occurrence of these events the
                  Company shall continue to pay to Executive or his estate, the
                  entire compensation otherwise payable to him under Section
                  3(a) hereof for the lesser of sixty (60) days or the remaining
                  Period of Employment and shall have no further obligation or
                  duties under this Employment Agreement.

         (d)      In the event that the Executive is discharged by the Company
                  other than for cause, pursuant to Section 4 (a) hereof or is
                  discharged by reason of physical or mental disability pursuant
                  to Section 4 (b) hereof, the Company shall continue to pay the
                  Executive for a period of twelve (12) months under Section (1)
                  hereof or the balance of his Employment Agreement otherwise
                  payable to him under Section 3 (a) hereof, whichever is
                  greater; provided, however, that Executive shall continue to
                  be bound by the provisions of Section 5 hereof. However, if
                  Executive should die prior to the end of such period, the
                  provisions of Section 4 (a) hereof shall be applicable as
                  though the Executive's employment hereunder had not been
                  terminated.

         (e)      This Employment Agreement may be terminated by mutual
                  agreement of the Company and the Executive. The terms and
                  conditions of any such termination agreement shall be set
                  forth in writing and signed by both parties.



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5.)      Confidentiality, Intellectual Property and Non- Competition

         (a)      The Company and Executive acknowledge that the services to be
                  performed by Executive under this Employment Agreement are
                  unique and extraordinary and, as a result of such employment,
                  Executive will be in possession of confidential information,
                  proprietary information and trade secrets (collectively,
                  "Confidential Information") relating to the business practices
                  of the Company and its affiliates, and that these constitute
                  "Trade Secrets" under the Indiana Trade Secrets Act.

         Trade Secrets Act. The Confidential Information referenced herein
         includes but is not limited to the following which are or were
         developed for the Company by Executive or any other Company employee or
         agent; names and addresses of guests; computer programs; software and
         disks; business plans; analytical techniques and methodology;
         measurement criteria; guest development techniques; market research;
         training manuals and video tapes. Executive agrees that he will not
         disclose or use the Confidential Information, directly or indirectly
         during or after his employment, other than in the performance of his
         duties for the Company.

         (b)      The Company and Executive agree that violation of Executive's
                  obligations under Section 5(a) of this Employment Agreement
                  shall constitute "misappropriation" of the Company's trade
                  secrets under the Indiana Trade Secrets Act, and the Company's
                  remedies for any such violation shall be those set out in the
                  said Act.

         (c)      Upon termination of his employment with Company for any
                  reason, Executive shall (i) immediately return to the Company
                  all the materials delivered to Executive during employment or
                  paid for by the Company, including but not limited to,
                  originals, duplicates or copies of keys, tools, telephones,
                  pagers, manuals, plans, memoranda, reports, systems,
                  procedures, forms, advertising materials, office supplies,
                  presentations, flow charts, narratives, organization charts
                  and other employment agreements, (ii) give to the Company on
                  computer disk and then destroy any trade secrets in any
                  physical form, including originals, duplicates, or copies to
                  the Company and (iii) give to the Company on computer disk and
                  then destroy any trade secrets or any other Company
                  information stored in any computer or electronic device owned
                  or used by Executive.

         (d)      All programs, ideas, strategies, approaches, practices or
                  inventions created, developed, obtained or conceived of by
                  Executive during the term hereof by reason of his employment
                  by the Company, shall be owned and belong exclusively to the
                  Company, provided that they are related in any manner to
                  business or that of any of it's affiliates. Executive shall
                  (i) promptly disclose all such programs ideas, strategies,
                  approaches, practices, inventions or business opportunities to
                  the Company and (ii) execute and deliver to the Company,
                  without additional compensation, such instruments as the
                  Company may require from time to time to evidence its
                  ownership of any such terms.



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         (e)      Executive agrees that during the period of employment, he will
                  not become a stockholder, director, officer, employee or agent
                  of or consultant to any corporation, or member of or
                  consultant to any partnership or other entity, or engage in
                  any business as a sole proprietor or act as a consultant to
                  any such entity, or otherwise engage, directly or indirectly,
                  in any enterprise, in each case which competes with or has a
                  vendor relationship with any business or activity engaged in,
                  or known by Executive to be contemplated to be engaged in, by
                  the Company or any of it's affiliates, provided, however, that
                  competition shall not include the ownership (solely as an
                  investor and without participation in or contact with the
                  management of the business) of less than one percent of the
                  outstanding shares of stock of any corporation engaged in any
                  such business, which shares are regularly traded on a national
                  securities exchange or in an over-the counter market. The
                  Company, in its sole discretion, may waive one or more of the
                  restrictions set forth in this subsection; however, any such
                  waiver must be in writing executed by an authorized Company
                  representative, and shall be effective only to the extent it
                  is set forth in writing.


         (f)      Executive agrees that for a period of one (1) year in
                  Northwest Indiana or any gaming operation within direct
                  competition with Majestic Star Casino, should he terminate his
                  employment with the Company before the end of Twenty-Four (24)
                  month period "(Employment Period)" he will not become a
                  stockholder, director, officer, employee or agent of or
                  consultant to any corporation, or member of or consultant to
                  any partnership or other entity or engage in any business as a
                  sole proprietor in or act as a consultant to any such entity
                  in or otherwise engage, directly or indirectly, in any
                  enterprise in each case which competes with or has a vendor
                  relationship with any business or activity engaged in, or
                  known by Executive to be contemplated to be engaged in, by the
                  Company or any of its affiliates, provided, however, that
                  competition shall not include the ownership (solely as an
                  investor and without any other participation in or contact
                  with the management of the business) of less than one percent
                  of the outstanding shares of stock of any corporation engaged
                  in any such business, which shares are regularly traded on a
                  national securities exchange or in an over-the-counter market.
                  Should the Executive and or the Company or any of its
                  affiliates decide not to renew the Employment Agreement
                  following the initial Twenty-Four (24) month term of
                  Employment, the Company shall waive the non-compete agreement
                  as set forth in this subsection. The Company, in its sole
                  discretion, may waive one or more of the restrictions set
                  forth in this subsection; however, any such waiver must be in
                  writing executed by an authorized Company representative, and
                  shall be effective only to the extent it is set forth in
                  writing.

         (g)      Executive further agrees that neither Executive nor any person
                  or enterprise controlled by Executive will solicit for
                  employment any person employed by the Company or any of its
                  sister properties during and within one year following the
                  termination of Executive's employment.



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         (h)      Unless required by law, Executive shall not disclose the
                  existence of this Employment Agreement or the terms and
                  conditions hereof to any other person, except to Executive's
                  attorneys, accountants and financial/banking institutions who
                  have a need to know.

         (i)      The covenants in this Section 5 on the part of the Executive
                  shall be construed as an agreement independent of any other
                  provision in this Employment Agreement; and the existence of
                  any claim or cause of action of Executive against Company,
                  whether predicated on this Employment Agreement or otherwise,
                  shall not constitute a defense to the enforcement by Executive
                  of these covenants. It is agreed by the parties hereto that if
                  any portion of these covenants against solicitation are held
                  to be unreasonable, arbitrary or against public policy, the
                  covenants herein shall be considered divisible both as to time
                  and scope; and each month of the specified period shall be
                  deemed a separate period of time, so that the lesser period of
                  time shall remain effective so long as the same is not
                  unreasonable, arbitrary, or against public policy. The parties
                  hereto agree that, in the event any court determines the
                  specified time period to be unreasonable, arbitrary or against
                  public policy, a lesser time period which is determined to be
                  reasonable, not arbitrary and not against public policy may be
                  enforced against Executive. It is further agreed by the
                  parties hereto that, in the event of a breach or violation or
                  threatened breach or violation by Executive of the provisions
                  of this section, the Company shall be entitled to obtain
                  injunctive relief from a court of competent jurisdiction
                  restraining the activities set forth herein in breach or
                  violation of this section (without posting a bond therefor and
                  upon 24 hours notice to Executive), whether directly or
                  indirectly. Nothing herein shall be construed as prohibiting
                  Company from pursuing any other remedies available to it by
                  law or by this Employment Agreement for breach, violation or
                  threatened breach or violation of the provisions of this
                  section, including, by way of illustration and not by way of
                  limitation, the recovery of damages from Executive or any
                  other person, firm, corporation or entity. The provisions of
                  this section shall survive any termination of this Employment
                  Agreement for the purpose of providing Company with the
                  protection of Covenants of Executive provided herein.
                  Executive acknowledges that his capabilities and education are
                  such that enforcement of the restrictions contained herein
                  shall not prevent him from earning a livelihood.

6.       Representations and Warranties

         (a)      Executive represents and warrants to Company that his
                  execution, delivery and performance of this Employment
                  Agreement will not result in or constitute a breach of or
                  conflict with any term, covenant, condition, or provision of
                  any commitment, contract, or other agreement or instrument,
                  including, without limitation, any other employment agreement,
                  to which Executive is or has been a party.

         (b)      Executive shall indemnify, defend, and hold harmless Company
                  for, from, and against any and all losses, claims, suits,
                  damages, expenses, or liabilities, including court costs and
                  counsel fees, which Company has incurred or to which




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                  Company may become subject, insofar as such losses, claims,
                  suits, damages, expenses, liabilities, costs, or fees, arise
                  out of or are based upon any failure of any representation or
                  warranty of Executive in section 6(a) hereof to be true and
                  correct when made.

7.       Assignment and Change of Control

         (a)      Executive shall not assign his rights or delegate the
                  performance of these obligations hereunder without the prior
                  written consent of the Company. Subject to the provisions of
                  the preceding sentence, all the terms of this Employment
                  Agreement shall be binding upon and shall inure to the benefit
                  of the parties and their legal representatives, heirs,
                  successors and assigns.

         (b)      Upon a "Change of Control", the Company may assign this
                  Employment Agreement. For this purpose, a "Change of Control"
                  shall mean a sale of substantially all of the assets of the
                  Company. Upon the occurrence of a Change of Control, Company
                  will pay Employee all payments Company would have been
                  obligated to make pursuant to Section 3 hereof, based upon a
                  termination date that is twelve (12) months after the date on
                  which the period of employment would have expired but for such
                  termination by reason of a Change of Control.

8.       Arbitration

         Any dispute which may arise between the parties hereto shall be
         submitted to binding arbitration in accordance with the Rules of the
         American Arbitration Association; provided that any such dispute shall
         first be submitted to the Board of Managers in an effort to resolve
         such dispute without resort to arbitration, and provided, further, that
         the Board shall have a period of sixty (60) days within which to
         respond to the Executive's submitted dispute, and of the Board of
         Managers fails to respond within said time, or the Executives dispute
         is not resolved, the matter may then be submitted for arbitration.

9.       Notice

         Any notice or other communication required or permitted to be given
         hereunder shall be made in writing and shall be delivered in person or
         mailed by prepaid registered or certified mail, return receipt
         requested, addressed to the parties as follows:

         If to the Company:

         The Majestic Star Casino, LLC
         1 Buffington Harbor Drive
         Gary, Indiana  46406- 3000
         Attention: Executive Vice President and Chief Operating Officer




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         If to the Executive:

         Troy L. Keeping
         509 Beech Lane
         New Lenox, Illinois  60451

         or to such other addresses as the party shall have furnished in writing
         in accordance with this Section. Such notices or communication shall be
         effective upon delivery in person, and upon actual receipt or three (3)
         days after mailing, whichever is earlier, if delivered by mail.


10.      Breach of Agreement

         Should the Company be in breach of this Employment Agreement and/or it
         be determined that Executive has not been terminated for Cause (the
         position first taken by Company for terminating the contract), then
         this entire Employment Agreement shall be null and void and of no
         further force or effect. Further, Executive shall be entitled to all
         benefits and compensation under the Employment Agreement as well as
         attorney fees and costs incurred in vindicating himself or establishing
         a breach by the Company. Conversely, if the Executive is determined to
         be in breach of this Employment Agreement, the Company shall be
         entitled to costs and attorney fees in validating that breach.


11.      Parties In Interest

         The benefits and obligations of this Employment Agreement shall be
         binding upon and inure to the benefit of Executive, and it shall be
         binding upon and inure to the benefit of the Company, its subsidiaries
         and related entities, as well as any corporation succeeding to all or
         substantially all of the business assets of the Company by merger,
         consolidation, purchase of assets or otherwise.

12.      Entire Agreement

         This Employment Agreement supersedes any and all other agreements,
         either oral or in writing, between the parties hereto with respect to
         the employment of Executive by the Company and contains all of the
         covenants and agreements between the parties with respect to such
         employment in any manner whatsoever. Any modification of this
         Employment Agreement will be effective only if it is in writing signed
         by the party to be charged.




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13.      Governing Law and Venue

         This Agreement is to be governed by and construed in accordance with
         the laws of the State of Indiana applicable to contracts made and to be
         performed wholly within such State, and without regard to the conflicts
         of laws principles thereof.

14.      Acknowledgement

         Executive acknowledges that he has been given a reasonable period of
         time to study this Agreement before signing it. Executive certifies
         that he has fully read, has received an explanation of, and completely
         understands the terms, nature, and effect of this Agreement and to seek
         the advice of legal counsel. Executive further acknowledges that he is
         executing this Agreement freely, knowingly, and voluntarily and that
         Executive's execution of this Agreement is not the result of any fraud,
         duress, mistake, or undue influence whatsoever. In executing this
         Agreement, Executive does not rely on any inducements, promises, or
         representations by Company other than the terms and conditions of this
         Agreement.

15.      Effective Date

         This Employment Agreement shall become effective on March 24, 2003.







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         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
         duly executed as of the date first set forth hereinabove.


         COMPANY:                                   EXECUTIVE:
         The Majestic Star Casino, LLC




         By: /s/ Judith F. Talbott                  By: /s/ Troy L. Keeping
            ---------------------------                -------------------------
         Judith F. Talbott                          Troy L. Keeping
         Corporate Vice President, Human Resources  Executive












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                        ADDENDUM TO EMPLOYMENT AGREEMENT

The following addendum to the Employment Agreement ("Agreement") entered into as
of March 24, 2003 by and between The Majestic Star Casino, LLC ("Company") and
Troy L. Keeping. ("Executive") represents the amended terms pursuant to SECTION
2 DUTIES AND SERVICES, SECTION 3 AND 3C COMPENSATION AND FRINGE BENEFITS of
Executive's Agreement. All other terms not addressed in this Addendum shall
remain in effect for the term of the Agreement.

         1.       Executive agrees to serve the Company as its Vice President
                  and General Manager for its Gary, Indiana location.

         2.       As compensation for his services hereunder, the Company shall
                  pay Executive during the period of Employment and annual
                  salary of Two Hundred Thousand Dollars ($200,000) less all
                  applicable federal, state and local taxes, social security and
                  other governmental mandated deductions which shall be payable
                  in installments in accordance with the Company's compensation
                  schedule. After twelve (12) months from the date of
                  Executive's promotion, Executive shall receive a performance
                  review at which time he shall be considered for an increase in
                  his annual salary. Thereafter, Executive shall be eligible for
                  a performance review on the anniversary of his promotion date.

         3.       Executive shall be entitled to an automobile allowance to
                  cover all associated automobile costs of Five Hundred Dollars
                  ($500.00) per month during the term of Executive's Agreement.

         In witness WHEREOF, the parties hereto have caused this Addendum to
         Executive's Agreement to be duly executed as of the date set forth in
         the Agreement.

FOR THE COMPANY:                                     FOR THE EXECUTIVE
The Majestic Star Casino, LLC

By: /s/ Judith F. Talbott                            By: /s/ Troy L. Keeping
   ---------------------------                          ------------------------
   Judith F. Talbott                                        Troy L. Keeping
   Corporate Vice President Human Resources



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