Document:

Exhibit 10.21

 

SEVENTH
AMENDMENT TO

MASTER VIDEO LOTTERY TERMINAL CONTRACT

 

This Amendment (this
“Amendment”) entered into this 13th day of September, 2018, and effective as set forth in Section 2 below, is
by and between the Division of Lotteries of the Rhode Island Department of Revenue, an agency of the State of Rhode Island (f/k/a
the Division of Lotteries of the Rhode Island Department of Administration) with its principal address at 1425 Pontiac Avenue,
Cranston, Rhode Island 02920 (the “Division”), and Twin River-Tiverton, LLC, a Delaware limited liability company
(assignee of Premier Entertainment II, LLC d/b/a Newport Grand (assignee of Newport Grand, LLC), d/b/a Newport Grand)), with its
principal address at 777 Tiverton Casino Blvd., Tiverton, Rhode Island 02878 (“Twin River-Tiverton”).

 

Among other things,
this Amendment constitutes the Seventh Amendment (the “Newport Grand Seventh Amendment”) to that certain Master
Video Lottery Terminal Contract by and between the Division and Twin River-Tiverton’s predecessor in interest dated as of
November 23, 2005 (the “Original Newport Grand Master Contract”), as amended by that certain Amendment dated
January 25, 2006 (the “Newport Grand Amendment”), that certain First Amendment to Master Video Lottery Terminal
Contract, as Previously Amended dated December 21, 2010 (the “Newport Grand First Amendment”), that certain
Second Amendment to Master Video Lottery Terminal Contract dated May 31, 2012 (the “Newport Grand Second Amendment”),
that certain Third Amendment to Master Video Lottery Terminal Contract dated May 1, 2013 (the “Newport Grand Third Amendment”),
that certain Assignment and Assumption of Master Video Lottery Terminal Contract by and between Newport Grand, L.L.C. (“Newport
Grand”), as assignor and Premier Entertainment II, LLC, (“Premier”), as assignee, and, solely for
the purposes of Section 10 thereof, the Division, dated July 14, 2015 (the “First Newport Grand Assignment”),
that certain Fourth Amendment to Master Video Lottery Terminal Contract dated July 14, 2015 (the” Newport Grand Fourth
Amendment”), that certain Fifth Amendment to Master Video Lottery Terminal Contract dated May 2, 2017 (the “Newport
Grand Fifth Amendment”), that certain Sixth Amendment to Master Video Lottery Terminal Contract dated May 12, 2018 (the
“Newport Grand Sixth Amendment”), and that certain Assignment and Assumption of Master Video Lottery Terminal
Contract by and between Premier, as assignor and Twin River-Tiverton, as assignee, and, solely for the purposes of Section 10 thereof,
the Division, dated of even date herewith (the “Second Newport Grand Assignment”). The Original Newport Grand
Contract, as amended by the Newport Grand Amendment and by the First, Second, Third, Fourth, Fifth and Sixth Amendments, and as
assigned pursuant to the First and Second Newport Grand Assignments, is referred to herein as the “Newport Grand Master
Contract.”

 

The Division and Twin
River-Tiverton are referred to herein collectively as the “Parties,” and individually, as a “Party.”

 

WITNESSETH

 

WHEREAS, the Division
and Newport Grand entered into the Newport Grand Master Contract, which contract has been amended as indicated above;

 

    	 	 	 

     

    

 

WHEREAS, in connection
with the purchase by Premier of substantially all of the assets of Newport Grand, pursuant to the First Newport Grand Assignment,
Newport Grand assigned the Newport Grand Master Contract to Premier, the Division having formally consented to such assignment;
and

 

WHEREAS, pursuant to
the Second Newport Grand Assignment, Premier subsequently assigned the Newport Grand Master Contract to Twin River-Tiverton, the
Division having formally consented to such assignment;

 

WHEREAS, the Town Council
of the Town of Tiverton, Rhode Island approved an ordinance allowing casino gaming within the Town of Tiverton at the Twin River-Tiverton
Casino Gaming Facility twenty-four (24) hours a day, seven (7) days a week; and

 

WHEREAS, Section 12.4
of the Newport Grand Master Contract permits amendments thereto by a writing of subsequent date, executed by duly authorized representatives
of the parties; and

 

NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
and in consideration of the mutual promises, covenants, obligations and conditions herein contained, the Division and Twin River-Tiverton
hereby agree as follows:

 

		1.	Hours of Operation.

 

		1.1	Notwithstanding Section 6.1 of the Newport Grand First Amendment, or anything else to the contrary
in the Newport Grand Master Contract, Twin River-Tiverton Casino Gaming Facility shall be permitted to maintain and operate casino
gaming at the Twin River-Tiverton Casino Gaming Facility twenty-four (24) hours a day, seven (7) days a week, including without
limitation federal and state recognized holidays.

 

		2.	Effectiveness of this Amendment.

 

Except as otherwise expressly
stated in this Amendment, the provisions of this Amendment shall take effect on the date and at the time that the Twin River-Tiverton
Casino Gaming Facility begins hosting state-operated casino gaming.

 

		3.	Miscellaneous.

 

		3.1	This Amendment contains the entire agreement of the Parties and supersedes and replaces all prior
understandings or agreements (if any), oral or written, with respect to the subject matter hereof. For the avoidance of doubt,
if and to the extent any provision of this Amendment conflicts with the Newport Grand Master Contract, the provision of this Amendment
shall control.

 

		3.2	Except to the extent amended and/or clarified pursuant to this Amendment, the terms, provisions
and conditions of the Newport Grand Master Contract remain in full force and effect, enforceable in accordance with their terms.

 

    	 	- 2 -	 

     

    

 

		3.3	This Amendment shall not be amended except by a writing of subsequent date hereto, executed by
duly authorized representatives of the Parties hereto.

 

		3.4	This Amendment shall not be assigned by any Party without the prior written consent of the other
Parties, which consent shall not be unreasonably withheld or delayed.

 

		3.5	This Amendment shall be binding upon and inure to the benefit of each of the Parties hereto, and
each of their respective successors and permitted assigns.

 

		3.6	The failure of any Party to enforce at any time any of the provisions of this Amendment shall in
no way be construed to be a waiver of such provisions, nor in any way affect the validity of this Amendment or any part thereof,
or the right of any other Party thereafter to enforce each and every provision.

 

		3.7	The illegality, invalidity or unenforceability of any provision of this Amendment shall not affect
the legality, validity or enforceability of any other provision, and to this end the provisions hereof are declared to be severable.
If for any reason a court of competent jurisdiction finds any provision of this Amendment to be illegal, invalid or unenforceable,
that provision of this Amendment shall be enforced to the maximum extent permissible so as to effect the intent of the Parties,
and the remainder of this Amendment will continue in full force and effect.

 

		3.8	Each Party warrants to the others that it is authorized to execute and deliver this Amendment and
to perform the obligations set forth herein, and the persons executing this Amendment on behalf of such Party are authorized to
do so.

 

		3.9	This Amendment shall be governed by, construed and enforced in accordance with the Laws of the
State of Rhode Island, without regard to conflict of law principles. Each Party agrees that any suit for the enforcement of this
Amendment may be brought in the courts of the State of Rhode Island or any federal court sitting therein, and consents to the non-exclusive
jurisdiction of such court and to service of process in any such suit being made upon it at the addresses set forth for it above.
Each Party hereby waives any objection that it may now or hereafter have to the venue of any such suit or any such court or that
such suit was brought in an inconvenient court.

 

		3.10	This Amendment may be executed in one or more counterparts each of which shall be deemed an original
copy of this Amendment, and all of which, when taken together, will be deemed to constitute one and the same agreement.

 

[Remainder of page intentionally blank;
Signature page follows]

 

    	 	- 3 -	 

     

    

 

IN WITNESS WHEREOF,
the Parties have caused this Agreement to be signed by their duly authorized representatives as of the date first set forth above.

 

	TWIN RIVER-TIVERTON, LLC	 
	 	 
	By:	/s/ Craig Eaton	 
	 	 	 
	Name:	Craig Eaton	 
	 	 	 
	Title:	Sr. VP and General Counsel	 

 

	DIVISION OF LOTTERIES OF THE RHODE ISLAND DEPARTMENT OF REVENUE	 
	 	 
	By:	/s/ Gerald S. Aubin	 
	 	 	 
	Name:	Gerald S. Aubin	 
	 	 	 
	Title:	Director	 

 

    	 	- 4 -Exhibit
10.22

 

ASSIGNMENT,
ASSUMPTION AND AMENDMENT

OF MASTER VIDEO LOTTERY TERMINAL CONTRACT

 

This Assignment,
Assumption and Amendment of Master Video Lottery Terminal Contract (“Assignment”) is made by and between
PREMIER ENTERTAINMENT II, LLC, a Delaware limited liability company (“Assignor”), and TWIN RIVER-TIVERTON LLC,
a Delaware limited liability company (“Assignee”). The Rhode Island Division of Lotteries of the Rhode Island
Department of Revenue, an agency of the State of Rhode Island (formerly known as the Division of Lotteries of the Rhode Island
Department of Administration) (the “Division”) is a party solely for purposes of Section 10. Capitalized terms
not otherwise defined herein shall have the meanings ascribed to them in the Master VLT Contract.

 

Recitals:

 

WHEREAS, the Assignor
is a party to that certain Master Video Lottery Terminal Contract by and between Assignor, as successor in interest, and the Division
dated as of November 23, 2005, as amended pursuant to amendments thereto dated as of January 25, 2006, December 21, 2010, May 31,
2012, May 1, 2013, July 14, 2015, May 2, 2017 (the “Fifth Amendment”), and March 12, 2018 (the “Sixth
Amendment”), and as previously assigned on July 14, 2015 (as so amended and assigned, the “Master VLT Contract”);
and

 

WHEREAS, pursuant to
the Sixth Amendment to Newport Grand Master Video Lottery Terminal Contract dated as of March 12, 2018, the Assignor, the Assignee
and the Division acknowledged that the Assignee will own and operate that certain gaming facility (now under construction) located
in the town of Tiverton, Rhode Island, at 777 Tiverton Casino Blvd., Tiverton, Rhode Island (the “Tiverton VLT Facility”);
and

 

WHEREAS,
it is the intention of the Assignor and the Assignee that the Assignee be the successor in interest to the Assignor under the Master
VLT Contract, and will host at such Tiverton VLT Facility video lottery games and casino gaming operated by the Division; and

 

WHEREAS,
Assignor desires to assign all its right, title and interest in and to the Master VLT Contract to Assignee; and Assignee desires
to accept the same; and

 

WHEREAS,
Section 12.4 of the Master VLT Contract permits amendments thereto by a writing of subsequent date, executed by duly authorized
representatives of the Parties.

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.          Assignor
hereby assigns to Assignee all of Assignor’s right, title and interest in and to the Master VLT Contract.

 

2.          The
effective date of this Assignment shall be on the date that the Tiverton VLT Facility begins hosting state-operated Video Lottery
Games (the “Effective Date”).

 

     

     

    

 

3.          Assignee
hereby accepts the foregoing assignment of the Master VLT Contract, and Assignor hereby agrees that it will remain liable for the
performance of all of the terms, covenants and conditions thereunder prior to Effective Date.

 

4.          Assignor
hereby represents that all terms, covenants and conditions under the Master VLT Contract required to be performed by Assignor through
the Effective Date have been or will be performed.

 

5.          Subject
to Section 10, Assignor hereby represents that it has the authority to assign the Master VLT Contract.

 

6.          As
of, and at all times after, the Effective Date, Assignee shall assume, satisfy, perform, pay and discharge as and when due and
payable, and otherwise be solely responsible for, the Master VLT Contract, including all liabilities arising under or in respect
of the Master VLT Contract to the extent not fully performed (and not required by its terms to have been so performed) prior to
the Effective Date; provided however, that to the extent such liabilities under the Master VLT Contract relate to the delivery
of goods or the performance of services prior to the Effective Date, Assignor shall be responsible for making the payments and
otherwise satisfying the responsibilities and obligations in respect thereof under the Master VLT Contract.

 

7.          This
Assignment will be binding upon and inure to the benefit of Assignor, Assignee and their respective heirs, executors, administrators,
successors in interest and assigns.

 

8.          This
Assignment may be executed in one or more counterparts, each of which will be deemed an original, but all of which taken together
will constitute one and the same instrument.

 

9.          The
Assignor and Assignee, from time to time, shall execute and deliver such additional documents and instruments and take such additional
actions as may be requested by the other in order to carry out the aforesaid transaction.

 

10.        Section
12.5 of the Master VLT Contract provides that the Master VLT Contract shall not be assigned without the prior written consent of
the other party. In addition, assignment by the Assignor is subject to its receipt of all appropriate regulatory approvals from
the Division and the Department of Business Regulation (the “DBR”). The Division and DBR having given such regulatory
approvals, including having found Assignee qualified to hold the pari-mutuel license and other gaming licenses held by the Assignor,
the Division hereby consents to the foregoing assignment of the Master VLT Contract by Assignor to Assignee.

 

11.        As
contemplated by the Fifth Amendment and the Sixth Amendment, the Parties acknowledge and agree that all references in the Master
VLT Contract to “Newport Grand”, when it is referring to a legal entity, shall be interpreted to mean Twin River-Tiverton
LLC, and its permitted successors and assigns under the Master VLT Contract, and when referring to a gaming facility, shall be
interpreted to mean the Tiverton VLT Facility, as such term is defined in the Sixth Amendment.

 

12.         The
Parties acknowledge and agree that the term “Business” as defined in the Master VLT Contract shall mean the ownership,
operation and development of the Tiverton VLT Facility by Twin River-Tiverton.

 

    	-2-

     

    

  

13.         The
Parties acknowledge and agree that Section 12.6 of the Master Contract shall be amended by revising the addresses for notice as
follows:

 

	If to Twin River-Tiverton:	Craig Eaton, General Counsel
	 	Twin River-Tiverton LLC
	 	100 Twin River Road
	 	Lincoln, RI 02865
	 	 
	With copy to:	Mark Hichar, Esq.
	 	Hinckley, Allen & Snyder LLP
	 	100 Westminster Street, #1500
	 	Providence, RI 02903
	 	 
	If to the Division:	Director, Division of Lotteries
	 	1425 Pontiac Avenue
	 	Cranston, RI 02920
	 	 
	With copy to:	Director, Department of Revenue
	 	One Capitol Hill
	 	Providence, RI 02908

 

14.         This
Assignment contains the entire agreement of the parties and supersedes and replaces all prior understandings or agreements (if
any), oral or written, with respect to the subject matter hereof.

 

15.         Except
to the extent amended and/or clarified pursuant to this Assignment the terms, provisions and conditions of the Master VLT Contract
remain in full force and effect, enforceable in accordance with their terms.

 

16.         This
Assignment shall not be amended except by a writing of subsequent date hereto, executed by duly authorized representatives of the
parties hereto.

 

[Signature page to follow]

 

    	-3-

     

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Assignment to be signed by their respective duly authorized officers on September 13, 2018.

 

	 	PREMIER ENTERTAINMENT II, LLC
	 	 	 
	 	By: 	/s/ Craig Eaton
	 	Name:  	Craig Eaton
	 	Title:  	Sr. VP & General Counsel
	 	 	 
	 	TWIN RIVER-TIVERTON LLC
	 	 	 
	 	By: 	/s/ Craig Eaton
	 	 	Name: Craig Eaton
	 	 	Title: Sr. VP & General Counsel

 

The Division of Lotteries of the Department of Revenue hereby
agrees and consents to the foregoing, including expressly consenting to the assignment of the Master VLT Contract by Assignor to
Assignee:

 

	By:	/s/ Gerald S. Aubin	 
	Name:  	Gerald S. Aubin	 
	Title:  	Director	 

 

    	-4-

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