Document:

EXHIBIT 10.2

    [ LOGO APPEARS HERE ]

                                                   American National Bank and
                                                     Trust Company of Chicago

                         REVOLVING NOTE (UNSECURED)

 $12,000,000

                                         Chicago, Illinois  September 1, 2000
                                                        Due:  August 31, 2003

      FOR VALUE RECEIVED,  the undersigned ("Borrower"),  promises to pay  to
 the order of AMERICAN NATIONAL BANK  AND TRUST COMPANY OF CHICAGO  ("Bank"),
 at its principal place of business in Chicago, Illinois, or such other place
 as Bank may  designate from  time to time  hereafter, the  principal sum  of
 TWELVE MILLION AND 00/100 Dollars ($12,000,000.00), or such lesser principal
 sum as may then be owed by Borrower to Bank hereunder.

      Borrower's  obligations  and  liabilities  to  Bank  under  this   Note
 ("Borrower's Liabilities") shall be due and payable on August 31, 2003.

      This Note restates and, effective as  of September 1, 2000, replaces  a
 Revolving Note (Unsecured) in the  principal amount of $8,000,000.00,  dated
 June 5, 1998 executed by Borrower in favor of Bank (the "Prior Note") and is
 not a repayment or novation of the Prior Note.

      The unpaid principal  balance of Borrower's  Liabilities due  hereunder
 shall bear interest from  the date of disbursement  until paid, computed  as
 follows:  (i) at the rate  of interest announced or published publicly  from
 time to time by Bank as its prime or base rate of interest (the "Base Rate")
 per annum (computed on the basis of a 360 day year and actual days elapsed),
 or (ii) at Borrower's option exercised in accordance with and subject to the
 terms of the Amended  and Restated London  Interbank Offered Rate  ("LIBOR")
 Borrowing Agreement dated September 1, 2000 (the "LIBOR Agreement"), by  and
 between Bank and Borrower, at the rate per annum determined by adding  1.60%
 to LIBOR in accordance with the LIBOR Agreement; provided, however, that  in
 the event that  any of  Borrower's Liabilities are  not paid  when due,  the
 unpaid amount of Borrower's  Liabilities shall bear  interest after the  due
 date until paid at a rate equal to the sum of the rate that would  otherwise
 be in effect plus 3%.

      The rate of interest to be charged by Bank to Borrower shall  fluctuate
 hereafter from time to  time concurrently with, and  in an amount equal  to,
 each increase or decrease in the  Base Rate or with increases and  decreases
 in LIBOR under the LIBOR Agreement, whichever is applicable.

      Accrued interest shall be payable by  Borrower to Bank on the same  day
 of each month and at maturity, commencing with the 1st day of October, 2000,
 or as billed by Bank to Borrower, at Bank's principal place of business,  or
 at such  other place  as Bank  may designate  from time  to time  hereafter.
 After maturity, accrued interest on all  of Borrower's Liabilities shall  be
 payable on demand.
<PAGE>

      Borrower warrants and represents  to Bank that  Borrower shall use  the
 proceeds represented by this  Note solely for  proper business purposes  and
 consistently with all applicable laws and statutes.

      Any deposits or other sums  at any time credited  by or payable or  due
 from Bank to Borrower,  or any monies,  cash, cash equivalents,  securities,
 instruments, documents  or other  assets of  Borrower in  the possession  or
 control of Bank or its bailee  for any purpose, may  be reduced to cash  and
 applied by Bank to or setoff by Bank against Borrower's Liabilities.

      The occurrence of any  one of the following  events shall constitute  a
 default by  the  Borrower ("Event  of  Default")  under this  Note:  (a)  if
 Borrower fails to pay any scheduled principal or interest payment or  fails,
 after ten days' written notice, to  pay any other of Borrower's  Liabilities
 when due  and payable  or declared  due and  payable (whether  by  scheduled
 maturity, required  payment,  acceleration,  demand or  otherwise);  (b)  if
 Borrower or any guarantor of any of Borrower's Liabilities fails or neglects
 to perform,  keep  or  observe any  term,  provision,  condition,  covenant,
 warranty or representation contained in this Note and such failure continues
 for thirty (30) days after notice  thereof, except default under Sections  4
 and 5 of the  Loan Agreement, which  shall become Events  of Default if  not
 cured within  ten  (10)  days  of  their  occurrence,  without  notice;  (c)
 occurrence of  a  default  or  an event  of  default  under  any  agreement,
 instrument or document heretofore, now or at any time hereafter delivered by
 or on behalf of Borrower to Bank; (d) occurrence of a default or an event of
 default under any agreement,  instrument or document  heretofore, now or  at
 any time  hereafter  delivered  to  Bank  by  any  guarantor  of  Borrower's
 Liabilities or by any person or entity which has granted to Bank a  security
 interest or lien in and to some or all of such person's or entity's real  or
 personal property to secure  the payment of  Borrower's Liabilities; (e)  if
 any of Borrower's assets are attached,  seized, subjected to a writ, or  are
 levied upon or become subject to any lien, or come within the possession  of
 any receiver, trustee, custodian  or assignee for  the benefit of  creditors
 provided that in the case of any such condition existing as to assets which,
 in the aggregate, are not material in value to the Borrower's business, such
 condition shall  not  become  an Event  of  Default  unless  such  condition
 continues for thirty days; (f)  if a notice of  lien, levy or assessment  is
 filed of  record  or  given to  Borrower  with  respect to  all  or  any  of
 Borrower's assets by any federal, state,  local department or agency  unless
 Borrower is contesting  the liability for  which such lien  relates in  good
 faith with adequate reserves; (g) if Borrower or any guarantor of Borrower's
 Liabilities becomes insolvent or generally fails to pay or admits in writing
 its inability to pay debts as they become due, if a petition under Title  11
 of the United States Code or  any similar law or  regulation is filed by  or
 against Borrower or any  such guarantor, if Borrower  or any such  guarantor
 shall make  an assignment  for the  benefit  of creditors,  if any  case  or
 proceeding is filed  by or against  Borrower or any  such guarantor for  its
 dissolution or liquidation, or if Borrower is enjoined, restrained or in any
 way prevented by court order from conducting all or any material part of its
 business affairs; (h) the death or incompetency of Borrower or any guarantor
 of Borrower's Liabilities, or  the appointment of a  conservator for all  or
 any portion  of  Borrower's  assets;  (i)  the  revocation,  termination  or
 cancellation of  any  guaranty  of Borrower's  Liabilities  without  written
 consent of Bank; (j)  if a contribution failure  occurs with respect to  any
 pension plan maintained by  Borrower or any  corporation, trade or  business
 that is, along with Borrower, a member of a controlled group of corporations
 or a controlled  group of  trades or  businesses (as  described in  Sections
<PAGE>
 414(b) and (c) of the Internal Revenue Code  of 1986 or Section 4001 of  the
 Employee Retirement  Income  Security  Act of  1974,  as  amended,  "ERISA")
 sufficient to give  rise to a  lien under Section  302(f) of  ERISA; (k)  if
 Borrower or any  guarantor of Borrower's  Liabilities is in  default in  the
 payment of any obligations, indebtedness or  other liabilities to any  third
 party and such default is declared and is not cured within the time, if any,
 specified therefor  in any  agreement  governing the  same;  or (l)  if  any
 material statement, report or certificate made or delivered by Borrower, any
 of Borrower's partners, officers,  employees or agents  or any guarantor  of
 Borrower's Liabilities is not true and correct.

      Upon the occurrence of an Event  of Default, at Bank's option,  without
 notice by  Bank  to  or  demand  by Bank  of  Borrower,  all  of  Borrower's
 Liabilities shall be immediately due and payable.

      All of Bank's rights  and remedies under this  Note are cumulative  and
 non-exclusive.  The acceptance by Bank of any partial payment made hereunder
 after the time  when any of  Borrower's Liabilities become  due and  payable
 will not establish a custom  or waive any rights  of Bank to enforce  prompt
 payment hereof.  Bank's failure to require strict performance by Borrower of
 any provision of this Note shall not waive, affect or diminish any right  of
 Bank thereafter to demand strict compliance and performance therewith.   Any
 waiver of an Event of Default  hereunder shall not suspend, waive or  affect
 any other Event  of Default hereunder.   Borrower and  every endorser  waive
 presentment, demand and protest and notice of presentment, protest, default,
 non-payment, maturity, release, compromise, settlement, extension or renewal
 of this Note, and  hereby ratify and  confirm whatever Bank  may do in  this
 regard.   Borrower further  waives any  and all  notice or  demand to  which
 Borrower might  be entitled  with respect  to  this Note  by virtue  of  any
 applicable statute or law (to the extent permitted by law).

      Borrower agrees to pay,  immediately upon demand by  Bank, any and  all
 costs, fees and  expenses (including reasonable  attorneys' fees, costs  and
 expenses) incurred by Bank (i) in enforcing any of Bank's rights  hereunder,
 and (ii) in representing Bank in  any litigation, contest, suit or  dispute,
 or to commence, defend or  intervene or to take  any action with respect  to
 any litigation,  contest,  suit  or dispute  (whether  instituted  by  Bank,
 Borrower or any other person) in any way relating to this Note or Borrower's
 Liabilities, and  to the  extent not  paid  the same  shall become  part  of
 Borrower's Liabilities.

      This Note shall be  deemed to have been  submitted by Borrower to  Bank
 and to have  been made at  Bank's principal place  of business.   This  Note
 shall be governed and controlled by,  and construed in accordance with,  the
 internal laws of the State of  Illinois, without reference to any choice  of
 law rule, or  any principles of  comity or any  conflicts of law  principles
 (whether of the  State of  Illinois or  any other  jurisdiction) that  would
 cause the application of the law of any jurisdiction other than the State of
 Illinois.
<PAGE>

      This Note is  executed pursuant  to a  revolving line  of credit  under
 which Borrower  is  indebted to  Bank  and evidences  the  aggregate  unpaid
 principal amount of  all advances made  or to be  made by  Bank to  Borrower
 under the Note.  All advances and repayments hereunder shall be evidenced by
 entries on the books and records of Bank which shall be presumptive evidence
 of the principal amount and interest owing  and unpaid on this Note, or  any
 renewal or extension thereof.  The failure  to so record any such amount  or
 any error  so  recording  any  such amount  shall  not,  however,  limit  or
 otherwise affect the obligations of Borrower hereunder or under any note  to
 repay the  principal  amount of  Borrower's  Liabilities together  with  all
 interest accruing thereon.

      Advances under this  Note, and  changes based  on the  exercise of  any
 option of  Borrower hereunder,  may be  made by  Bank upon  oral or  written
 request of any person authorized to make such requests on behalf of Borrower
 ("Authorized Person").  Borrower agrees that Bank may act on requests  which
 Bank in good faith believes to  be made by an Authorized Person,  regardless
 of whether such requests are in fact made by an Authorized Person.  Any such
 advance or change shall be conclusively  presumed to have been made by  Bank
 to or  for  the benefit  of  Borrower.   Borrower  does  hereby  irrevocably
 confirm, ratify and approve all such advances and changes by Bank and agrees
 to indemnify  Bank against  any and  all  losses, liabilities  and  expenses
 (including reasonable attorneys'  fees) and  shall hold  Bank harmless  with
 respect thereto.

      TO INDUCE BANK TO ACCEPT THIS  NOTE, BORROWER IRREVOCABLY AGREES  THAT,
 SUBJECT TO BANK'S SOLE  AND ABSOLUTE ELECTION,  ALL ACTIONS OR  PROCEEDINGS,
 INCLUDING WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ANY CONTROVERSY,
 DISPUTE OR QUESTION, IN ANY WAY, MANNER  OR RESPECT, ARISING OUT OF OR  FROM
 OR RELATED TO THIS NOTE SHALL BE LITIGATED IN COURTS HAVING SITUS WITHIN THE
 CITY OF CHICAGO, STATE OF ILLINOIS.  BORROWER HEREBY IRREVOCABLY CONSENTS TO
 THE EXERCISE OF JURISDICTION OVER ITS PERSON AND PROPERTY BY, AND VENUE  IN,
 ANY COURT OF COMPETENT JURISDICTION SITUATED  IN THE CITY OF CHICAGO,  STATE
 OF ILLINOIS (WHETHER IT BE A COURT OF SUCH  STATE, OR A COURT OF THE  UNITED
 STATES OF  AMERICA SITUATED  IN  SUCH CITY  AND  STATE), AND  IN  CONNECTION
 THEREWITH, AGREES TO SUBMIT TO, AND BE BOUND BY, THE JURISDICTION AND  VENUE
 OF SUCH COURT, ANY OBJECTION TO SUCH JURISDICTION AND VENUE BEING  EXPRESSLY
 WAIVED HEREBY.  BORROWER HEREBY WAIVES ANY RIGHT IT MAY HAVE TO TRANSFER  OR
 CHANGE THE  VENUE OF  ANY LITIGATION  BROUGHT AGAINST  BORROWER BY  BANK  IN
 ACCORDANCE WITH THIS PARAGRAPH.
<PAGE>

      BORROWER HEREBY KNOWINGLY,  VOLUNTARILY, AND INTENTIONALLY  IRREVOCABLY
 WAIVES ANY  RIGHT TO  TRIAL BY  JURY IN  ANY ACTION,  SUIT, COUNTERCLAIM  OR
 PROCEEDING (I) TO ENFORCE OR DEFEND  ANY RIGHTS UNDER OR IN CONNECTION  WITH
 THIS NOTE OR ANY AMENDMENT, INSTRUMENT,  DOCUMENT OR AGREEMENT DELIVERED  OR
 WHICH MAY IN THE  FUTURE BE DELIVERED IN  CONNECTION HEREWITH, (II)  ARISING
 FROM ANY DISPUTE OR CONTROVERSY IN  CONNECTION WITH OR RELATED TO THIS  NOTE
 OR ANY SUCH AMENDMENT,  INSTRUMENT, DOCUMENT OR  AGREEMENT OR (III)  ARISING
 OUT OF,  UNDER  OR IN  CONNECTION  WITH ANY  COURSE  OF CONDUCT,  COURSE  OF
 DEALINGS, STATEMENTS (WHETHER  ORAL OR WRITTEN)  OR ACTIONS  OF BORROWER  OR
 BANK, AND  AGREES THAT  ANY SUCH  ACTION, SUIT,  COUNTERCLAIM OR  PROCEEDING
 SHALL BE  TRIED BEFORE  A COURT  AND NOT  BEFORE A  JURY.   BORROWER  HEREBY
 EXPRESSLY ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT FOR BANK TO
 ACCEPT THIS REPLACEMENT NOTE.

                                    WELLS-GARDNER ELECTRONICS CORPORATION

                                    By:
                                    _________________________________________

                                    Print or Type
                                    Name:___________________________

                                    Its:
                                    _________________________________________EXHIBIT 10.3

                             AMENDED AND RESTATED
              LONDON INTERBANK OFFERED RATE BORROWING AGREEMENT

      THIS AMENDED  AND  RESTATED  LONDON INTERBANK  OFFERED  RATE  ("LIBOR")
 BORROWING AGREEMENT (the "LIBOR Agreement") is  made and entered into as  of
 the 1st day  of September, 2000  by and between  AMERICAN NATIONAL BANK  AND
 TRUST COMPANY OF CHICAGO ("Bank"), a  national banking association with  its
 principal place of business at 120 South LaSalle Street, 2nd Floor, Chicago,
 Illinois 60603, and WELLS-GARDNER ELECTRONICS CORPORATION ("Borrower").

      A.   Borrower requested,  and Bank  agreed, that  Bank extend  interest
           rate options based on LIBOR; and

      B.   Borrower executed  in favor  of  Bank, on  June  5, 1998,  a  Loan
           Agreement (the "Prior  Loan Agreement"), a  Revolving Note in  the
           amount  of  $8,000,000  (the  "Prior  Revolving  Note"),  and   an
           Installment Note  in the  amount of  $3,350,000 (the  "Installment
           Note") which reflect the LIBOR option; and

      C.   Borrower has  requested,  and  Bank has  agreed,  that  Bank  make
           available to Borrower an increased revolving line of credit of  up
           to $12,000,000 and that Bank reduce  the LIBOR Margin (as  defined
           below) with respect to said revolving line of credit as set  forth
           herein; and

      D.   Borrower has executed in favor of  Bank, as of September 1,  2000,
           an Amended and Restated Loan Agreement (the "Loan Agreement"), and
           a Revolving  Note in  the amount  of $12,000,000  (the  "Revolving
           Note," and together with  the Installment Note, collectively,  the
           "Notes"), which reflect the LIBOR option; and

      E.   This LIBOR Agreement shall amend  and restate that certain  London
           Interbank Offered Rate  Borrowing Agreement  between Borrower  and
           Bank (the "Prior LIBOR Agreement")  and the Prior LIBOR  Agreement
           shall no longer be in force or effect as of the date hereof.

      NOW, THEREFORE, in  consideration of  the foregoing  Recitals, each  of
 which is an  integral part hereof,  any loan, advance,  extension of  credit
 and/or other financial accommodation at any time made by Bank to or for  the
 benefit of  Borrower, and  of the  promises set  forth herein,  the  parties
 hereto agree as follows:

                          1.  DEFINITIONS AND TERMS

      1.1  The following words, terms and/or phrases shall have the  meanings
 set forth thereafter and such meanings  shall be applicable to the  singular
 and plural form thereof;  whenever the context so  requires, and the use  of
 "it" in  reference to  Borrower shall  mean Borrower  as identified  at  the
 beginning of this Agreement:

           (a)  Amortization Date:   the dates  specified in  the Notes  when
                principal payments are due.

           (b)  Borrowing:   any portion  of Borrower's  liabilities  bearing
                interest at LIBOR.
<PAGE>

           (c)  Business Day:   any day  on which  Bank is  open for  regular
                business.

           (d)  Event of Default:   the definition ascribed  to this term  in
                the Loan Agreement and the Notes.

           (e)  Interest Period:  the period commencing  on the date a  LIBOR
                Loan is made and ending, as  the Borrower may select, 7,  30,
                60, 90, 120  or 180  days thereafter,  or 12  months for  the
                Installment Note.

           (f)  LIBOR Loans:  any principal portion of Borrower's liabilities
                bearing interest at LIBOR.

           (g)  LIBOR Margin:  1.60% on the  Revolving Note and 2.25% on  the
                Installment Note.

           (h)  Maturity Date:  the dates specified  in the Notes upon  which
                the Borrower's liabilities are due and payable in full.

      1.2  Any terms or  phrases not specifically  defined in this  Agreement
 shall have meanings ascribed to them in the Notes.

                         2.  MANNER OF LIBOR ELECTION

      2.1  Borrower may elect  to cause  all or  a portion  of the  principal
 outstanding on the Notes to bear interest at a daily rate equal to the daily
 rate equivalent of 1.60% in excess of LIBOR on the Revolving Note and  2.25%
 in excess  of  LIBOR on  the  Installment  Note, subject  to  the  following
 conditions:

      (a)  Not more than five (5) nor  less than two (2) Business Days  prior
           to the  requested  date of  any  LIBOR Borrowing,  Borrower  shall
           deliver to  Bank  an  irrevocable  written  or  telephonic  notice
           setting forth  the requested  date and  amount of  such  Borrowing
           (which amount shall not be less than $100,000.00 and, if in excess
           of $100,000.00, shall be in  integral multiples of $1,000.00)  and
           the requested Interest Period of such Borrowing;

      (b)  The LIBOR used in computing the  interest rate applicable to  such
           Borrowing shall be  the LIBOR  as quoted  by Bank  to Borrower  as
           being in effect  for the  date of  such Borrowing  plus the  LIBOR
           Margin, computed on the  basis of a 360-day  year and actual  days
           elapsed, and  shall be  fixed for  the  requested period  of  such
           Borrowing;

      (c)  Such Borrowing may not be prepaid  prior to the expiration of  the
           requested Interest Period of such Borrowing and shall be repaid in
           full or  reborrowed on  the last  day  of the  requested  Interest
           Period of such Borrowing;

      (d)  With respect to  any Borrowing of  LIBOR Loans,  Borrower may  not
           select an  Interest  Period  that extends  beyond  the  respective
           Maturity Dates of the Notes; and
<PAGE>

      (e)  With respect to  any Borrowing of  LIBOR Loans under  each of  the
           Notes, Borrower may  not select  an Interest  Period that  extends
           beyond any Amortization Date unless,  after giving effect to  such
           requested Borrowing, the aggregate unpaid principal amount of such
           Loans having Maturity Dates after such Amortization Date does  not
           exceed the aggregate principal amount of the Note scheduled to  be
           outstanding after such Amortization Date.

      2.2  In the event  Borrower fails to  give notice  pursuant to  Section
 2.1(a) above of  the re-borrowing of  the principal amount  of any  maturing
 LIBOR Borrowing and has not notified  the Bank by 10:00 a.m. (Chicago  time)
 on the day such Borrowing matures  that it intends to renew such  Borrowing,
 then Borrower shall  be deemed  to have requested  a borrowing  of loans  at
 Prime Rate (as defined in the Loan Agreement)  on such day in the amount  of
 the maturing Borrowing.

                            3.  GENERAL PROVISIONS

      3.1  Funding Indemnity.  In the event  Bank shall incur any loss,  cost
 or expense (including, without limitation, any loss of profit, and any loss,
 cost or expense incurred  by reason of the  liquidation or re-employment  of
 deposits or other funds acquired by such Bank to fund or maintain any  LIBOR
 Loan or the re-lending  or reinvesting of such  deposits or amounts paid  or
 prepaid to such Bank) as a result of:

      (a)  any payment or prepayment of a LIBOR Loan on a date other than the
           last day of its Interest Period,

      (b)  any failure  by  Borrower to  borrow  a  LIBOR Loan  on  the  date
           specified in a notice given pursuant to Section 2.1 hereof,

      (c)  any failure by Borrower  to make any payment  of principal on  any
           LIBOR Loan when due (whether by acceleration or otherwise), or

      (d)  any acceleration of the  maturity of a LIBOR  Loan as a result  of
           the occurrence of any Event of Default,

 then, upon the demand  of Bank, Borrower  shall pay to  Bank such amount  as
 will reimburse Bank for such loss,  cost or expense.   If Bank makes such  a
 claim for compensation, it shall provide to Borrower a certificate  executed
 by an officer of Bank setting forth the amount of such loss, cost or expense
 in reasonable  detail  (including  an  explanation  of  the  basis  for  the
 computation of such  loss, cost or  expense) and the  amounts shown on  such
 certificate if reasonably calculated shall be conclusive.

      3.2  Availability of LIBOR Loans.  If Bank determines that  maintenance
 of its  Loans  would  violate  any  applicable  law,  rule,  regulation,  or
 directive, whether or  not having the  force of law,  or if Bank  determines
 that deposits of a type and  maturity appropriate to match fund LIBOR  Loans
 are not available  to it then  Bank shall forthwith  give notice thereof  to
 Borrower, whereupon,  until Bank  notifies Borrower  that the  circumstances
 giving rise to such suspension no longer exist, the obligations of the  Bank
 to make LIBOR Loans shall be suspended.
<PAGE>

      IN WITNESS WHEREOF, this Agreement has been duly executed as of the day
 and year specified at the beginning hereof.

 WELLS-GARDNER ELECTRONICS CORPORATION

 By:
      --------------------------------

 Its:
      --------------------------------

 Accepted this __ day of  September, 2000, in the  City of Chicago, State  of
 Illinois.

 AMERICAN NATIONAL BANK AND
 TRUST COMPANY OF CHICAGO

 By:
      --------------------------------

 Its:
      --------------------------------

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