Document:

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                                                                   Exhibit 10.8

                                Vestin Mortgage

                                 April 9, 2004

Raceway Ventures, LLC
5300 NW 12th Ave. Suite 1
Ft. Lauderdale, Florida 33309

Re:      Vestin Mortgage, Inc. ("Vestin") with Mid-State Raceway, Inc. and
         Mid-State Development Corporation (collectively "Borrower")

Gentlemen:

                  Reference is hereby made to that certain Loan Agreement dated
June 30, 2003, as amended (the "Loan Agreement"), the Consolidated Secured
Promissory Note in the amount of $26,000,000 issued pursuant to the Loan
Agreement (the "Note") and the mortgage, security and other documentation
executed pursuant to the terms and conditions of the Loan Agreement and/or the
Note (the "Ancillary Documents", and the Loan Agreement, Note and Ancillary
Documents collectively referred to herein as the "Loan Documents").

                  In connection with your proposed acquisition (the
"Acquisition") of all of the shares of capital stock of Mid-State Raceway, Inc.
("Raceway") and warrants to purchase shares of the capital stock of Raceway
owned by All Capital LLC and Victoria Scott you are hereby advised that:

         1.       The outstanding principal balance of the Note as of April 9,
                  2004 is $25,916,254.15; and as of April 10, 2004 -- there
                  was no interest required to be paid pursuant to the Note
                  which had not been paid;

         2.       Assuming that the closing of the Acquisition is consummated on
                  or before April 9, 2004, there will be no default in payment
                  of principal, interest or other sums payable to Vestin as of
                  April 9, 2004 pursuant to any of the Loan Documents;

         3.       Based upon the current conscious awareness of Daniel Stubbs,
                  but not based on any review of files or other investigation by
                  Vestin, Vestin is not aware of any non-monetary
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                  default(s) pursuant to the Loan Documents as of April 9,
                  2004;

         4.       Subject to the provisions of Paragraph 5 hereof, if there is a
                  non-monetary default pursuant to the Loan Documents as of
                  April 9, 2004, Vestin will give the Borrower written notice
                  and at least 10 days opportunity to cure before charging any
                  late fees or default interest and/or pursuing any remedies or
                  rights arising as a result of that non-monetary default; and

         5.       During the period from the date of the consummation of the
                  closing of the Acquisition to the date upon which video
                  terminal lottery operations commence at Vernon Downs Vestin
                  shall not exercise any rights IT may have with respect to any
                  non-monetary default under the Loan Documents provided that
                  all of the obligations of the Borrower under the Loan
                  Documents for the payment of principal, interest, real estate
                  taxes and insurance premiums are timely and fully satisfied.

                                    Very truly yours,

                                    Vestin Mortgage, Inc.

                                    By: /s/ Daniel B. Stubbs<PAGE>

                                                                    Exhibit 10.9

                        FIRST AMENDMENT TO LOAN AGREEMENT

                  FIRST AMENDMENT TO LOAN AGREEMENT Dated June 30, 2003 between
and among Mid-State Raceway, Inc. ("Raceway"), Mid-State Development Corporation
("Development" and Raceway and Development collectively the "Borrower") and All
Capital LLC (the "Lender").

                                   WITNESSETH

                  WHEREAS, on January 29, 2003 the Borrower and Lender entered
into a Loan Agreement with respect to a certain $18,000,000 loan (the "Loan
Agreement"); and

                  WHEREAS, the Borrower and Lender desire to amend the Loan
Agreement upon the terms and conditions herein below set forth.

                  NOW THEREFORE, in consideration of the premises and the terms,
covenants and conditions hereincontained, the parties hereto do hereby agree as
follows:

1.       Subject to the terms and conditions of this agreement ("Agreement") and
         irrespective of the repayment in whole or in part of the Loan described
         in the Loan Agreement, the term or the management agreement and
         management fee described in subparagraph 4(b)(xii)(F) of the Loan
         Agreement shall commence on January 29, 2003 and shall terminate on
         December 31, 2004.

2.       In consideration of the limitation of the term as described in
         Paragraph I hereof, the Borrower shall pay to or for the benefit and
         direction of the Lender the sum of $30,000.

3.       Until the later of (a) such time as the Borrower has repaid in full all
         present and/or future loans, financial accommodations and/or credits
         made or granted to or for the benefit of the Borrower by the Lender,
         its parent, any of its subsidiaries and/or Shawn A Scott, or (b) the
         expiration of all Warrants currently held by the Lender, the Lender
         shall be entitled to designate and Raceway shall cause to be elected 6
         nominees to the Board of Directors of Raceway. The Lender shall have
         the right to unilaterally renounce in whole or in part and/or on a
         permanent or temporary basis its rights pursuant to this Paragraph 3.

4.       Except as herein expressly provided to the contrary the Loan Agreement
         and all documents and instruments therein defined as "Loan Documents"
         are hereby expressly ratified and shall remain in full force and
         effect.

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                  IN WITNESS WHEREOF, the parties hereto have hereunto executed
this Agreement as of the 10th day of April, 2004.

                                           Mid-State Raceway, Inc.

                                           By: /s/ William B. Thornton

                                           Mid-State Development Corporation

                                           By: /s/ William B. Thornton

                                           All Capital LLC

                                           By: /s/ Shawn Scott<PAGE>
                                                                  Exhibit 10.10

                       SECOND AMENDMENT TO LOAN AGREEMENT

                  SECOND AMENDMENT TO LOAN AGREEMENT, dated April 10, 2004
between and among Vestin Mortgage, Inc. ("Lender"), Mid-State Raceway, Inc.
("Raceway") and Mid-State Development Corporation ("Development" and Raceway and
Development collectively the "Borrower").

                                   WITNESSETH

                  WHEREAS, the Lender and the Borrower entered into a certain
Loan Agreement dated June 30, 2003 and amended the same on November 21, 2003, by
document entitled "First Amendment to Loan Agreement" (which Loan Agreement, as
so amended being referred to herein as the "Loan Agreement", the terms,
conditions and definitions of which are hereby incorporated herein by reference
`with the same full force and effect as of set forth herein in full); and

                  WHEREAS, the parties hereto desire to further amend the Loan
Agreement to provide for the deposit by the Borrower of additional sums in the
Interest Reserve established pursuant to the provisions of subparagraph 5(b) of
the Loan Agreement, upon the terms and conditions hereinbelow set forth.

                  NOW THEREFORE, in consideration of the premises and the terms,
covenants and conditions hereinbelow set forth, the parties hereto do hereby
agree as follows:

         1.       Paragraph 5(b) of the Loan Agreement is hereby amended by
                  restating the same to read in its entirety, as amended, as
                  follows:

                  "(b) deposit with the Lender (out of the proceeds of the
                  Initial Disbursement) as an interest reserve (the "interest
                  Reserve") the amount of

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         $1,686,666.66; the proceeds of which Interest Reserve (together with
         such other and further sums as the Borrower shall from time to time
         and at one or more times deposit therein) the Lender shall apply in
         satisfaction of the first to mature interest payment obligations of
         the Borrower under the Note; and".

2.       In order to induce the Lender to execute and perform this agreement
         ("Second Amendment") the Borrower does hereby represent, warrant,
         covenant and agreement that each of Raceway and Development: has the
         full power and authority to execute, deliver and perform this Second
         Amendment; has taken all action necessary to authorize the execution,
         delivery and performance of this Second Amendment; that the execution,
         delivery and performance of this Second Amendment does not violate the
         constitutional documents of Raceway or Development, respectively, any
         agreement to which either of them is a party or by which either of them
         is bound, or any law; and upon the execution and delivery hereof by an
         officer of Raceway and Development, respectively, this Second Amendment
         shall be valid and binding upon each of Raceway and Development and
         fully enforceable in accordance with its terms.

3.       The agreement sets forth the entire agreement among the parties hereto
         with respect to the subject matter herein contained; shall be governed
         and construed in accordance with the laws of the State of Nevada;
         cannot be altered, amended, modified, terminated or rescinded except by
         a writing executed by all of the parties hereto; and shall inure to the
         benefit of and be

                   REMAINDER OF PAGE Intentionally LEFT BLANK

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                  binding upon the parties hereto and their respective
                  successors, transferees and assigns.

                  IN WITNESS WHEREOF, the parties hereto have executed this
First Amendment as of the day and year first above written.

                                   Mid-State Raceway, Inc.

                                   By: /s/ William B. Thornton

                                   Mid-State Development Corporation

                                   By: /s/ William B. Thornton

                                   Vestin Mortgage, Inc.

                                   By: /s/ Daniel B. Stubbs

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