<PAGE>   1
                                                                   EXHIBIT 10.26

              AMENDMENT NUMBER ELEVEN TO CONSOLIDATED, AMENDED AND
                      RESTATED LOAN AND SECURITY AGREEMENT

                  THIS AMENDMENT NUMBER ELEVEN TO CONSOLIDATED, AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT (this "Amendment"), is entered into as of
March 22, 2000, between FOOTHILL CAPITAL CORPORATION, a California corporation
("Foothill"), with a place of business located at 11111 Santa Monica Boulevard,
Suite 1500, Los Angeles, California 90025-3333, MALIBU ENTERTAINMENT WORLDWIDE,
INC., a Georgia corporation ("MEWI"), with its chief executive office located at
717 North Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA MANAGEMENT
COMPANY, a Georgia corporation ("MMC"), with its chief executive office located
at 717 North Harwood, Suite 1650, Dallas, Texas 75201, MALIBU GRAND PRIX
CORPORATION, a Delaware corporation ("MGPC"), with its chief executive office
located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, TUCSON MGPC,
INC., an Arizona corporation ("Tucson"), with its chief executive office located
at 717 North Harwood, Suite 1650, Dallas, Texas 75201, FRESNO MGPC, INC., a
California corporation ("Fresno"), with its chief executive office located at
717 North Harwood, Suite 1650, Dallas, Texas 75201, NORTH HOLLYWOOD CASTLE MGPC,
INC., a California corporation ("NHC"), with its chief executive office located
at 717 North Harwood, Suite 1650, Dallas, Texas 75201, PUENTE HILLS MGPC, INC.,
a California corporation ("PH"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, PUENTE HILLS SHOWBOAT MGPC,
INC., a California corporation ("PHS"), with its chief executive office located
at 717 North Harwood, Suite 1650, Dallas, Texas 75201, REDONDO BEACH CASTLE
MGPC, INC., a California corporation ("RBC"), with its chief executive office
located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, REDWOOD CITY
CASTLE MGPC, INC., a California corporation ("RCC"), with its chief executive
office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, REDWOOD
CITY MGPC, INC., a California corporation ("RC"), with its chief executive
office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, SAN DIEGO
MGPC, INC., a California corporation ("San Diego"), with its chief executive
office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, PORTLAND
MGPC, INC., an Oregon corporation ("Portland"), with its chief executive office
located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, AUSTIN MGPC,
INC., a Texas corporation ("Austin"), with its chief executive office located at
717 North Harwood, Suite 1650, Dallas, Texas 75201, DALLAS CASTLE MGPC, INC., a
Texas corporation ("DC"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, SAN ANTONIO CASTLE MGPC, INC., a Texas
corporation ("SAC"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, SAN ANTONIO MGPC, INC., a Texas
corporation ("San Antonio"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA DEVELOPMENT COMPANY, a
Georgia corporation ("MDC"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, MALIBU GRAND PRIX DESIGN &
MANUFACTURING, INC., a California corporation ("MGPDMI"), with its chief
executive office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201,
MALIBU GRAND PRIX FINANCIAL SERVICES, INC., a California corporation ("MGPFSI"),
with its chief executive office located at 717 North Harwood, Suite 1650,
Dallas, Texas 75201, OFF TRACK MANAGEMENT, INC., a California corporation ("Off
Track"), with its chief executive office



<PAGE>   2

located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, MGP SPECIAL,
INC., a California corporation ("Special"), with its chief executive office
located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, AMUSEMENT
MANAGEMENT FLORIDA, INC., a Florida corporation ("Amusement"), with its chief
executive office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201,
MALIBU GRAND PRIX CONSULTING, INC., a California corporation ("Consulting"),
with its chief executive office located at 717 North Harwood, Suite 1650,
Dallas, Texas 75201, MOUNTASIA - MEI INTERNATIONAL, INC., a Georgia corporation
("MMEII"), with its chief executive office located at 717 North Harwood, Suite
1650, Dallas, Texas 75201, MOUNTASIA - MEI LIMITED COMPANY, INC., a California
corporation ("MMEILC"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA - MEI CALIFORNIA, INC., a
California corporation ("MCNC"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA - MEI CALIFORNIA
LIMITED PARTNERSHIP, a California limited partnership ("MMEICLP"), with its
chief executive office located at 717 North Harwood, Suite 1650, Dallas, Texas
75201, and MOUNTASIA FAMILY ENTERTAINMENT CENTERS, INC., a Texas corporation
("MFEC"), with its chief executive office located at 717 North Harwood, Suite
1650, Dallas, Texas 75201.

                                    Recitals:

A.       Foothill and Borrower are parties to the Consolidated, Amended, and
         Restated Loan and Security Agreement, entered into as of August 22,
         1996, (as amended from time to time prior to the date hereof, the "Loan
         Agreement").

B.       Borrower has requested Foothill to amend the Loan Agreement to permit
         the disposition by Borrower of certain assets (the McAllen and North
         Richland parks), to agree on the application of the proceeds of those
         asset dispositions, and to modify the levels of Adjusted Net Worth
         required to be maintained by Borrower.

C.       Foothill is willing to so amend the Loan Agreement in accordance with
         the terms and conditions hereof.

                                   Agreement:

                  NOW, THEREFORE, in consideration of the mutual promises
contained herein, Foothill and Borrower hereby agree as follows:

                  All capitalized terms used herein and not defined herein shall
have the meanings ascribed to them in the Loan Agreement.

                  1. Amendments to the Loan Agreement.

                     a.  Section 1.1 of the Loan Agreement hereby is amended by
                         adding each of the following definitions in
                         alphabetical order:

                                       2

<PAGE>   3

                  "Eleventh Amendment" means that certain Amendment Number
Eleven to Consolidated, Amended, and Restated Loan and Security Agreement, dated
as of March 22, 2000.

                  "Eleventh Amendment Closing Date" means the date on which each
of the conditions precedent set forth in Section 2 of the Eleventh Amendment are
satisfied in full.

                    b.   Subsection 7.19(c) of the Loan Agreement hereby is
                         amended and restated in its entirety to read as
                         follows:

                  (c) Minimum Adjusted Net Worth. Adjusted Net Worth of at least
the amount shown below as of the corresponding dates set forth below:

<TABLE>
<CAPTION>
                Period Ending                   Minimum Adjusted Net Worth
                -------------                   --------------------------
<S>                                            <C>
                   12/31/99                            $23,000,000
                  3/31/2000                            $17,500,000
                  6/30/2000                            $16,750,000
                  9/30/2000                            $16,000,000
                 12/31/2000                            $14,250,000
                  3/31/2001                            $12,000,000
                  6/30/2001                            $11,500,000
</TABLE>


                    c.   Section 7.4 of the Loan Agreement hereby is amended to
                         add the following sentence at the end thereof: "The
                         foregoing notwithstanding, Borrower may dispose of
                         those certain assets consisting of its limited
                         partnership interest in the North Richland Hills park
                         and settlement of the related construction note
                         receivable, and the assets relating to the McAllen
                         park, in accordance with the terms of that certain
                         letter dated March 8, 2000 from Borrower to Foothill
                         with respect to North Richland Hills, and in accordance
                         with the terms of that certain letter dated February
                         22, 2000 from Borrower to Foothill with respect to
                         McAllen, provided that the combined gross proceeds from
                         such dispositions shall total at least $258,242 and
                         shall be applied such that Foothill will receive 70% of
                         such proceeds, but in any event not less than $180,000,
                         to be applied as a permanent paydown of the Term Loans,
                         with the Borrower being entitled to retain the

                                       3

<PAGE>   4

                         balance of such proceeds to be used for general working
                         capital purposes."

         2. Condition to the Effectiveness of this Amendment. The effectiveness
of this Amendment is subject to the fulfillment, to the satisfaction of Foothill
and its counsel, of each of the following conditions precedent:

                    a.   The representations and warranties in this Amendment,
                         the Agreement as amended by this Amendment, and the
                         other Loan Documents shall be true and correct in all
                         respects on and as of the date hereof as though made on
                         such date (except to the extent that such
                         representations and warranties relate solely to an
                         earlier date);

                    b.   After giving effect hereto, no Event of Default or
                         event which with the giving of notice or passage of
                         time would constitute an Event of Default shall have
                         occurred and be continuing on the date hereof, nor
                         shall result from the consummation of the transactions
                         contemplated herein; and

                    c.   No injunction, writ, restraining order, or other order
                         of any nature prohibiting, directly or indirectly, the
                         consummation of the transactions contemplated herein
                         shall have been issued and remain in force by any
                         governmental authority against Borrower, Foothill, or
                         any of their Affiliates.

                    d.   Payment to Foothill in cash of a non-refundable and
                         fully-earned amendment fee of $5,000.

         3. Representations and Warranties. Borrower hereby represents and
warrants to Foothill that (a) the execution, delivery, and performance of this
Amendment are within its corporate powers, have been duly authorized by all
necessary corporate action, and are not in contravention of any law, rule, or
regulation, or any order, judgment, decree, writ, injunction, or award of any
arbitrator, court, or governments authority, or of the terms of its charter or
bylaws, or of any contract or undertaking to which it is a party or by which any
of its properties may be bound or affected, and (b) the Loan Agreement, as
amended by this Amendment, constitutes Borrower's legal, valid, and binding
obligation, enforceable against Borrower in accordance with its terms.

         4. Further Assurances. Borrower shall execute and deliver all financing
statements, agreements, documents, and instruments, in form and substance
satisfactory to Foothill, and take all actions as Foothill may reasonably
request from time to time, to perfect and maintain the perfection and priority
of Foothill's security interests in the Collateral, and to fully consummate the
transactions contemplated under the Loan Agreement and this Amendment.

         5. Effect on Loan Documents. The Loan Agreement, as amended hereby, and
the other Loan Documents shall be and remain in full force and effect in
accordance with their respective terms and each hereby is ratified and confirmed
in all respects. Except as expressly set

                                       4

<PAGE>   5

forth herein, the execution, delivery, and performance of this Amendment shall
not operate as a waiver of or as an amendment of any right, power, or remedy of
Foothill under the Loan Agreement, as in effect prior to the date hereof.

         6. Miscellaneous.

                    a.   Upon the effectiveness of this Amendment, each
                         reference in the Loan Agreement to "this Agreement",
                         "hereunder", "herein", "hereof" or words of like import
                         referring to the Loan Agreement shall mean and refer to
                         the Loan Agreement as amended by the First Amendment,
                         the Second Amendment, the Third Amendment, the Fourth
                         Amendment, the Fifth Amendment, the Sixth Amendment,
                         the Seventh Amendment, the Eighth Amendment, the Ninth
                         Amendment, the Tenth Amendment, and this Amendment.

                    b.   Upon the effectiveness of this Amendment, each
                         reference in the Loan Documents to the "Loan
                         Agreement", "thereunder", "therein", 'thereof" or words
                         of like import referring to the Loan Agreement shall
                         mean and refer to the Loan Agreement as amended by the
                         First Amendment, the Second Amendment, the Third
                         Amendment, the Fourth Amendment, the Fifth Amendment,
                         the Sixth Amendment, the Seventh Amendment, the Eighth
                         Amendment, the Ninth Amendment, the Tenth Amendment,
                         and this Amendment.

                    c.   This Amendment shall be governed by and construed in
                         accordance with the laws of the State of California.

                    d.   This Amendment may be executed in any number of
                         counterparts and by different parties on separate
                         counterparts, each of which, when executed and
                         delivered, shall be deemed to be an original, and all
                         of which, when taken together, shall constitute but one
                         and the same Amendment. Delivery of an executed
                         counterpart of this Amendment by telefacsimile shall be
                         equally as effective as delivery of an original
                         executed counterpart of this Amendment. Any party
                         delivering an executed counterpart of this Amendment by
                         telefacsimile also shall deliver an original executed
                         counterpart of this Amendment but the failure to
                         deliver an original executed counterpart shall not
                         affect the validity, enforceability, and binding effect
                         of this Amendment.

            [The remainder of this page is intentionally left blank]


                                       5
<PAGE>   6



         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed on the date first written above.

MALIBU ENTERTAINMENT WORLDWIDE, INC., a Georgia corporation
MOUNTASIA FAMILY ENTERTAINMENT CENTERS, INC., a Texas corporation
MOUNTASIA MANAGEMENT COMPANY, a Georgia corporation
MALIBU GRAND PRIX CORPORATION, a Delaware corporation
TUCSON MGPC, INC., an Arizona corporation
FRESNO MGPC, INC., a California corporation
NORTH HOLLYWOOD CASTLE MGPC, INC., a California corporation
PUENTE HILLS MGPC, INC., a California corporation
PUENTE HILLS SHOWBOAT MGPC, INC., a California corporation
REDONDO REACH CASTLE MGPC, INC., a California corporation
REDWOOD CITY CASTLE MGPC, INC., a California corporation
REDWOOD CITY MGPC, INC., a California corporation
SAN DIEGO MGPC, INC., a California corporation
PORTLAND MGPC, INC., an Oregon corporation
AUSTIN MGPC, INC., a Texas corporation
DALLAS CASTLE MGPC, INC., a Texas corporation
SAN ANTONIO CASTLE MGPC, INC., a Texas corporation
SAN ANTONIO MGPC, INC., a Texas corporation
MOUNTASIA DEVELOPMENT COMPANY, a Georgia corporation
MALIBU GRAND PRIX DESIGN & MANUFACTURING, INC., a California corporation
MALIBU GRAND PRIX FINANCIAL SERVICES, INC., a California corporation
OFF TRACK MANAGEMENT, INC., a California corporation
MGP SPECIAL, INC., a California corporation
AMUSEMENT MANAGEMENT FLORIDA, INC., a Florida corporation
MALIBU GRAND PRIX CONSULTING, INC., a California corporation
MOUNTASIA - MEI INTERNATIONAL, INC., a Georgia corporation
MOUNTASIA - MEI LIMITED COMPANY, INC., a California corporation
MOUNTASIA - MEI CALIFORNIA, INC., a California corporation
MOUNTASIA - MEI INTERNATIONAL, INC., a Georgia corporation, in its capacity as
general partner of MOUNTASIA - MEI CALIFORNIA LIMITED PARTNERSHIP, a
California limited partnership

By:
    --------------------------
Name:
Title:

FOOTHILL CAPITAL CORPORATION,
a California corporation

By:
    --------------------------
Name:
Title:



                                       6