Document:

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                              CONVERSION AGREEMENT

                                 By and Between

                           VIVA GAMING & RESORTS INC.

                               ZANA HOLDINGS, INC.

                                       and

                                  BRAM SOLLOWAY

                                  July __, 2001

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                              CONVERSION AGREEMENT
                              --------------------

         THIS CONVERSION AGREEMENT (this "Agreement") is made as of July __,
2001, by and between Viva Gaming & Resorts Inc., a Florida corporation with
headquarters at 3611 S. Lindell Road, Suite 108, Las Vegas, Nevada 89103-1241
(the "Company"), Zana Holdings, Inc. ("Zana") and Bram Solloway (the
"Investor").

         THE PARTIES HEREBY AGREE AS FOLLOWS:

         1.       Conversion of Existing Debt into Equity.
                  ---------------------------------------

                  1.1      Cancellation of Existing Debt. Subject to the terms
and conditions of this Agreement, upon closing of this Agreement, as
consideration for the issuance of securities in Section 1.2 hereof, the amount
owing by the Company to Zana (the "Indebtedness"), as evidenced by the
following, shall be cancelled:

                           (a) that certain Promissory Note in the amount of
$200,000 payable to the order of Zana, dated August 15, 2000;

                           (b) that certain Promissory Note in the amount of
$144,300 payable to the order of Maxwell Capital Inc. ("Maxwell"), dated August
15, 2000, which was assigned by Maxwell to Zana on September 30, 2000;

                           (c) that certain Promissory Note in the amount of
$164,000 payable to the order of Zana, dated December 31, 2000; and

                           (d) the interest accrued on (a), (b) and (c) hereof.

                  1.2 Issuance of Securities. Subject to the terms and
conditions of this Agreement, upon closing of this Agreement, as consideration
for the cancellation of the Indebtedness, the Company agrees to issue at Closing
(as defined below) from its authorized but unissued capital stock and to give to
the Investor in exchange for the cancellation of the Indebtedness, 2,500,000
shares (the "Shares") of the Company's common stock, $.001 par value per share
(the "Common Stock").

                  1.3 Closing. (a) The cancellation of the Indebtedness and the
issuance of the Shares of Common Stock (the "Closing") shall take place as soon
as reasonably practical after the satisfaction of the conditions set forth in
Sections 4 and 5 hereof, at the offices of Sklar Warren Conway & Williams, 221
North Buffalo Drive, Suite A, Las Vegas, Nevada 89145, or at such other time and
place as shall be mutually agreed upon between the Investor and the Company (the
"Closing Date").

                      (b) At the Closing, the Company shall deliver to the
Investor a certificate for the Shares to be issued to the Investor in definitive
form and duly registered in the name of the Investor.

                                       -2-

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         2.       Representations and Warranties of the Company. The Company
hereby represents and warrants to the Investor (it is expressly acknowledged and
agreed that Eric L. Nelson and Peter R. LaFemina, the Company's newly appointed
President and Chief Executive Officer and Secretary and Chief Financial Officer,
respectively, did not participate in the drafting of this Agreement, related
exhibits and schedules and shall have no accountability whatsoever in connection
with the information contained in this Agreement, exhibits or schedules) that:

                  2.1      Organization; Good Standing; Qualification and
                           ----------------------------------------------
                           Corporate Power.
                           ----------------

                           (a) The Company is a corporation duly organized,
validly existing and in good standing under the laws of the State of Florida and
has all requisite corporate power and authority to carry on its business as now
conducted and as proposed to be conducted. The Company is duly qualified to
transact business and is in good standing in each jurisdiction in which the
failure so to qualify would have a material adverse effect on its business or
properties. True and correct copies of the Company's Articles of Incorporation,
as amended, and Bylaws have been provided to the Investor.

                           (b) The Company has all requisite legal and corporate
power and authority to execute and deliver this Agreement, to issue the Shares
of Common Stock, to carry out and perform its obligations under the terms of
this Agreement and to consummate the transactions contemplated hereby. All
necessary corporate action has been taken by the Company with respect to the
execution, delivery and performance by the Company of this Agreement and the
consummation of the transactions contemplated hereby.

                  2.2      Capitalization and Voting Rights. The authorized
capital of the Company consists of, and will consist at the Closing of:

                           (a) Common Stock. 100,000,000 shares of Common Stock,
of which 8,942,700 shares are issued and outstanding as of the date hereof.

                           (b) Preferred Stock. 10,000,000 shares of preferred
stock, par value $0.10 (the "Preferred Stock"), no shares of which are issued
and outstanding as of the date hereof.

                           (c) Except as set forth on Schedule 2.2, there are no
outstanding options, warrants, rights (including conversion or preemptive
rights) or agreements for the purchase or acquisition from the Company of any
shares of its capital stock. The Company is not a party or subject to any
agreement or understanding of any kind, and, to the Company's knowledge, there
is no agreement or understanding of any kind between any individual,
corporation, partnership, limited liability company, association, trust or other
entity or organization, including a government or political subdivision or an
agency or instrumentality thereof (a "Person"), which affects or relates to the
acquisition, disposition or voting or giving of written consents with respect to
any security of the Company.

                  2.3      Subsidiaries; Interests of the Company. The Company
does not currently own or control, directly or indirectly, any equity interest
in any other Person, except as listed on Schedule 2.3.

                                       -3-

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                  2.4      No Breach.  The execution, delivery and performance
of this Agreement by the Company and the consummation of the transactions
contemplated herein will not (with the passage of time or otherwise):

                           (a) violate any provision of the Articles of
Incorporation or By-Laws of the Company;

                           (b) violate, conflict with or result in the breach of
any of the terms of, result in a material modification of, otherwise give any
other contracting party the right to terminate, or constitute (or with notice or
lapse of time or both constitute) a default under, any contract or other
agreements to which the Company is a party or by or to which the Company or any
of its assets or properties may be bound or subject; or

                           (c) violate any law, rule or regulation to which the
Company is a party.

                  2.5      No Undisclosed Liabilities. There are no liabilities
or obligations of the Company of any kind whatsoever, liquidated or
unliquidated, whether accrued, direct, contingent, absolute, determined,
determinable or otherwise, and there is no existing condition, situation or set
of circumstances which could reasonably be expected to result in such a
liability, other than (a) liabilities included as part of the Company's
unaudited balance sheet dated March 31, 2001, (b) liabilities incurred
subsequent to March 31, 2001 in the ordinary course of business consistent with
past practice, which in the aggregate are not material to the Company and (c)
liabilities disclosed on Schedule 2.5.

                  2.6      Authorization. This Agreement has been duly
authorized, executed and delivered by the Company and constitute the legal,
valid and binding obligations of the Company, enforceable in accordance with its
terms, subject to (i) applicable bankruptcy, insolvency, reorganization and
moratorium laws, (ii) other laws of general application affecting the
enforcement of creditors' rights generally and general principles of equity,
(iii) the discretion of the court before which any proceeding therefor may be
brought and (iv) rights to indemnity that may be limited by federal or state
securities laws or by public policy.

                  2.7      Valid Issuance of Stock.
                           -----------------------

                           (a) The outstanding shares of Common Stock are duly
and validly authorized and issued, fully paid, and non-assessable. The issuance,
sale and delivery of the Shares being purchased by the Investor hereunder have
been duly authorized by all requisite corporate action on the part of the
Company and paid for and delivered in accordance with the terms hereof for the
consideration expressed herein, will be duly and validly issued, fully paid and
non-assessable and free of any liens or encumbrances, except for restrictions
under applicable federal and state securities laws.

                          (b) Except as set forth in this Agreement, and on
Schedule 2.7, no other shares of Common Stock have been reserved for issuance by
the Company.

                                       -4-

<PAGE>

                  2.8     Financial Statements. The Company has delivered to the
Investor (i) its audited income statement and balance sheet as of December 31,
2000, and (ii) its unaudited income statement and balance sheet as of March 31,
2001 (together, the "Financial Statements"). The Financial Statements (A) have
been prepared from the books and records of the Company, (B) present fairly the
financial condition of the Company at the balance sheet dates and its results of
operations, stockholders' equity and cash flows as at the dates and for the
periods therein specified and (C) have been prepared in accordance with
generally accepted accounting principles ("GAAP"), except, with respect to the
March 31, 2001 financial statements, for the absence of accompanying notes
thereto, applied on a consistent basis (except as required by changes
promulgated by accounting authorities) throughout the periods indicated. The
Financial Statements fairly present the financial condition and results of
operations of the Company as of the date and during the periods indicated
therein, subject to normal year end audit adjustments which are neither
individually nor in the aggregate expected to be material. At March 31, 2001, to
the best of the Company's knowledge, the Company had no material liability
(matured or unmatured, fixed or contingent) which was not provided for on the
balance sheet of the Company as of such date, and all reserves established by
the Company and set forth on such balance sheet were adequate for the purposes
for which they were established. There were no loss contingencies (as such term
is used in Statement of Financial Accounting Standards No. 5 issued by the
Financial Accounting Standards Board in March 1975) which were not adequately
provided for in the March 31, 2001 balance sheet.

                  2.9     Changes. Except as disclosed on Schedule 2.9, since
March 31, 2001, there has not been:

                           (a) any change in the assets, liabilities, condition
(financial or otherwise), affairs, earnings, business, operations or other
prospects of the Company from that reflected in the balance sheet as at March
31, 2001, referred to in Section 2.8 above, except for changes in the ordinary
course of business, which, individually or in the aggregate have not been
materially adverse;

                           (b) any borrowings or other material change in the
liabilities or obligations of the Company, contingent or otherwise, whether due
or to become due, whether by way of guaranty, endorsement, indemnity, warranty,
or otherwise, except current liabilities incurred in the ordinary course of
business, none of which materially and adversely affects the business,
prospects, condition, affairs, properties, or assets of the Company;

                           (c) any damage, destruction or loss, whether or not
covered by insurance, materially and adversely affecting the properties,
operation, or business of the Company;

                           (d) any waiver or compromise by the Company of a
material valuable right held by it or of a material debt owed to it;

                           (e) any loans made by the Company to its employees,
officers, or directors other than advances of expenses made in the ordinary
course of business;

                                       -5-

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                           (f) any declaration or payment of any dividend or
other distribution of the assets of the Company to stockholders or any direct or
indirect redemption, purchase, or acquisition of any securities of the Company
other than repurchases of Common Stock from terminated employees, consultants,
officers, and directors pursuant to written agreements;

                           (g) any labor organization activity or organized
labor trouble;

                           (h) any other event or condition of any character
which has materially and adversely affected the business, operations,
properties, or assets of the Company;

                           (i) any increase in compensation of any of its
existing officers, or the rate of pay of its employees as a group, except as
part of regular compensation increases in the ordinary course of business, or
any material change of such officers' or employees' employment agreements;

                           (j) any resignation or termination of employment of
any officer, director or key employee of the Company and the Company has not
received any written notice of the impending resignation or termination of any
such officer, director or key employee;

                           (k) any material change in any material contract or
agreement by which the Company or any of its assets is bound or subject;

                           (l) any mortgage, pledge, transfer of a security
interest in, or lien, created by the Company with respect to any of its material
properties or assets, except for liens (i) incurred in the ordinary course of
business or (ii) for taxes not yet due or payable;

                           (m) any issuance of any capital stock, bonds or other
corporate securities by the Company or options, warrants or rights or agreements
or commitments to purchase or issue such securities or grant such options,
warrants or rights;

                           (n) any change in the accounting methods or practices
followed by the Company;

                           (o) any satisfaction or discharge of any lien, claim,
or encumbrance or payment of any obligation by the Company, except in the
ordinary course of business and that is not material to the business,
properties, prospects, or financial condition of the Company (as such business
is presently conducted and as it is presently proposed to be conducted); or

                           (p) any agreement to do or enter into any of the
foregoing.

                  2.10     Registration Rights. The Company has not granted,
except as set forth on Schedule 2.10, or agreed to grant any registration
rights, including piggyback registration rights, to any person.

                                       -6-

<PAGE>

                  2.11     Litigation. The Company is not a party to any legal
proceeding, the outcome of which could (i) adversely affect consummation of the
transactions contemplated herein or (ii) result in any representation or
warranty of the Company contained herein becoming inaccurate.

                  2.12     Title to Property and Assets. The Company has good
and marketable title to its property and assets free and clear of all mortgages,
liens, loans, and encumbrances, except such encumbrances and liens which arise
in the ordinary course of business and do not materially impair the Company's
ownership or use of such property or assets. With respect to the property and
assets it leases, the Company is in compliance in all material respects with
such leases and holds a valid leasehold interest free of any liens, claims, or
encumbrances. All of the Company's properties and assets are, in all material
respects, in good operating and usable condition, subject to normal wear and
tear.

                  2.13     Agreements; Action.
                           ------------------

                           (a) Except for agreements expressly contemplated by
this Agreement, there are no agreements, understandings, or proposed
transactions between the Company and any of its officers, directors, affiliates,
or any affiliate thereof.

                           (b) Except as contemplated by this Agreement or as
listed on Schedule 2.13 ereto, there are no agreements, understandings,
instruments or contracts to which the Company is a party or by which it is
bound, which (i) involve obligations (contingent or otherwise) of, or payments
to, the Company in excess of $100,000, (ii) are material to the conduct and
operations of the Company's business or properties, including, without
limitation, the license of any patent, copyright, trade secret, or other
proprietary rights to or from the Company or provisions restricting or affecting
the development, manufacture, or distribution of the Company's products or
services, or (iii) involve any employment or consulting arrangement, whether
written or oral, between the Company and any Person.

                           (c) Except as listed on Schedule 2.13 hereto, the
Company has not (i) declared or paid any dividends, or authorized or made any
distribution upon or with respect to any series or classes of its capital stock,
(ii) incurred any indebtedness for money borrowed or any other liabilities
individually in excess of $100,000 or, in the case of indebtedness and/or
liabilities individually less than $100,000, in excess of $200,000 in the
aggregate, or (iii) sold, exchanged, or otherwise disposed of any of its assets
or rights, other than the sale of its inventory in the ordinary course of
business.

                           (d) For the purposes of subsections (b) and (c)
above, all indebtedness, liabilities, agreements, understandings, instruments,
contracts, and proposed transactions involving the same Person (including
Persons the Company has reason to believe are affiliated therewith) shall be
aggregated for the purpose of meeting the individual minimum dollar amounts of
such subsections.

                           (e) The Company is not a party to any indenture, loan
or credit agreement or any lease or other agreement or instrument or subject to
any charter or corporate restriction which has a material adverse effect on the
Company, or limits or restricts the ability of the Company to carry out its
obligations under this Agreement. The Company is not in default in any respect
in the performance,

                                       -7-
<PAGE>

observance or fulfillment of any of the obligations, covenants or conditions
contained in any agreement or instrument material to its business to which it is
a party.

                           (f) The contracts, agreements and instruments listed
on Schedule 2.13 are valid, binding and in full force and effect in all material
respects, and are valid, binding and enforceable by the Company in accordance
with their respective terms, subject to laws of general application relating to
bankruptcy, insolvency and the relief or other equitable remedies. The Company
is not in material default under any material contract, and, to the Company's
knowledge, no other party to any such contract is in material default.

                  2.14     Compliance with Laws; No Defaults. The Company is
not, in violation of any provisions of any law, regulation, judgment,
injunction, order or decree binding upon or applicable to the Company, except
for violations that have not had and would not reasonably be expected to have,
individually or in the aggregate, a material adverse effect upon the Company.

                  2.15     Insurance. The Company has in full force and effect
fire, casualty, and liability insurance policies, in such amounts and with such
coverage as is reasonable and prudent in view of the business and operations of
the Company.

                  2.16     Tax Matters. The Company (i) has filed all tax
returns that are required to have been filed by it with all appropriate
governmental agencies (and all such returns are true and correct and fairly
reflect its operations for tax purposes); and (ii) has paid all taxes owed or
assessments by it as indicated on such tax returns (other than taxes the
validity of which are being contested in good faith by appropriate proceedings).
The assessment of any additional taxes for periods for which returns have been
filed is not expected to exceed the recorded liability therefor and, to the
Company's knowledge, there are no material unresolved questions or claims
concerning the Company's tax liability. Except as disclosed on Schedule 2.16, to
the Company's knowledge, there is no pending dispute with any taxing authority
relating to any of said returns which, if determined adversely to the Company,
would result in the assertion by any taxing authority of any valid deficiency in
a material amount for taxes. The Company has withheld or collected from each
payment made to each of its employees the amount of all taxes, including, but
not limited to, income taxes, Federal Insurance Contribution Act taxes and
Federal Unemployment Tax Act taxes required to be withheld or collected
therefrom, and has paid the same to the proper tax receiving officers or
authorized depositaries, except for failures to pay the same which, either
individually or in the aggregate, have not had, or may be reasonably expected to
result in, a material adverse effect.

                  2.17     Governmental Regulation. The Company is not subject
to regulation under the Investment Company Act of 1940, or to any United States
of America, state or local statute or regulation limiting its or their ability
to incur Debt.

                  2.18     Securities Act.
                           --------------

                           (a) Assuming the accuracy of the representations of
the Investor set forth in Sections 3.4 and 3.6 hereof, no registration of any
security under the Securities Act of 1933, as amended

                                       -8-

<PAGE>

(the "Securities Act") or the securities laws of any state, is required in
connection with the issuance, execution and delivery of the Shares the manner
contemplated hereunder.

                           (b) All outstanding capital stock of the Company has
been offered, issued and sold in material compliance with the requirements of
all Federal and state laws applicable to the offer, issuance and sale of
securities.

                  2.19     Related Party Transactions. Except as set forth on
Schedule 2.19, no employee, officer, stockholder or director of the Company or
member of his or her immediate family is indebted to the Company, nor is the
Company indebted (or committed to make loans or extend or guarantee credit) to
any of them, other than (i) for payment of salary for services rendered, (ii)
reimbursement for reasonable expenses incurred on behalf of the Company, and
(iii) for other standard employee benefits made generally available to all
employees (not including stock option agreements outstanding under any stock
option plan approved by the Board of Directors of the Company). To the Company's
knowledge, no employee or officer of the Company has any direct or indirect
ownership interest in any firm or corporation with which the Company is
affiliated or with which the Company has a business relationship, or any firm or
corporation that competes with the Company, except that employees, officers or
directors of the Company and members of their immediate families may own stock
in publicly traded companies that may compete with the Company. Except as set
forth in Schedule 2.19, to the best of the Company's knowledge, no officer or
stockholder or any member of their immediate families is, directly or
indirectly, interested in any material contract with the Company (other than
such contracts as relate to any such person's ownership of capital stock or
other securities of the Company and other than employment agreements).

                  2.20     SEC Documents. The Company has filed all required
reports, schedules, forms, statements and other documents with the SEC (the "SEC
Documents"). As of their respective dates, the SEC Documents complied in all
material respects with the requirements of the Securities Act of 1933, as
amended (the "Securities Act"), or the Securities Exchanges Act of 1934, as
amended (the "Exchange Act"), as the case may be, and the rules and regulations
of the SEC promulgated thereunder applicable to such SEC Documents and, except
to the extent that information contained in any SEC Document has been revised or
superseded by a later SEC Document, none of the SEC Documents contained any
untrue statement of a material fact or omitted to state any material fact
required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not
misleading. Except as set forth in the SEC Documents, neither the Company nor
any of its subsidiaries has any liabilities or obligations of any nature
(whether accrued, absolute, contingent or otherwise) that, individually or in
the aggregate, would reasonably be expected to have a material adverse effect on
the Company.

         3.       Representations and Warranties of the Investor. The Investor
hereby represents and warrants to the Company that:

                  3.1      Authorization. This Agreement has been duly
authorized, executed and delivered by the Investor and constitute the legal,
valid and binding obligations of the Investor, enforceable in accordance with
their respective terms, subject to (i) applicable bankruptcy, insolvency,
reorganization and

                                       -9-

<PAGE>

moratorium laws, (ii) other laws of general application affecting the
enforcement of creditors' rights generally and general principles of equity
(iii) the discretion of any court before which any proceeding therefor be
brought and (iv) rights to indemnity that may be limited by federal or state
securities laws or by public policy. All action required for the lawful
execution and delivery of this Agreement has been taken.

                  3.2      Purchase Entirely for Own Account. The Shares to be
received by the Investor pursuant to the terms hereof will be acquired for
investment for the Investor's own account, not as a nominee or agent, and not
with a view to the resale or distribution of any part thereof. The Investor has
no present intention of selling, granting any participation in, or otherwise
distributing the Shares acquired by the Investor. The Investor has no contract,
undertaking, agreement or arrangement with any Person to sell or transfer, or
grant any participation to such Person or to any third Person, with respect to
any of the Shares to be acquired by the Investor.

                  3.3      [Intentionally Omitted.]

                  3.4      Restricted Securities. The Investor understands that
the Shares to be acquired by the Investor have not been registered under the
Securities Act or the laws of any state and may not be sold or transferred, or
otherwise disposed of, without registration under the Securities Act and
applicable state securities laws or an exemption therefrom. The Investor will
sell or transfer, or otherwise dispose of, the Shares to be acquired by the
Investor only in a manner consistent with the representations and warranties set
forth herein and any applicable federal and state securities laws.

                  3.5      Legends. It is understood that the certificates
evidencing the shares of Common Stock may bear one or all of the following
legends:

                           (a) THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT
TO THE SECURITIES EVIDENCED BY THIS CERTIFICATE, FILED AND MADE EFFECTIVE UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, AND SUCH APPLICABLE STATE SECURITIES
LAWS, OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER SUCH ACT AND
SUCH APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

                           (b) Any legend required by the Blue Sky laws of any
state.

         The legend referred to in clause (a) above shall be removed by the
Company from any certificate at such time as the holder of the securities
represented by the certificate delivers an opinion of counsel reasonably
satisfactory to the Company to the effect that such legend is not required in
order to establish compliance with any provisions of the Securities Act, or at
such time as the holder of such shares satisfies the requirements of Rule 144(k)
or such other substantially similar rule promulgated under the Securities

                                      -10-

<PAGE>

Act then in effect under the Securities Act; provided, that the Company has
received from the holder a written representation that (i) such holder is not an
affiliate of the Company and has not been an affiliate during the preceding
three (3) months, (ii) such holder has beneficially owned the shares represented
by the certificate for a period of at least two (2) years (or the period of time
then required by Rule 144(k) or such other substantially similar rule
promulgated under the Securities Act then in effect), and (iii) such holder
otherwise satisfies the requirements of Rule 144(k) as then in effect with
respect to such shares.

                  3.6      No Violation. Neither the execution and delivery of
this Agreement nor the consummation by Investor of the transaction contemplated
hereby will (i) constitute a violation by Investor of any statute or law or any
rule, regulation or order of any governmental authority or (ii) constitute a
violation of, or a default under, or conflict with any contract, commitment,
indenture or other agreement, or any other private restrictions of any kind, to
which Investor is a party or by which it is bound.

         4.       Conditions of the Investor's Obligations at Closing. The
obligations of the Investor under Sections 1.1 and 1.2 of this Agreement are
subject to the fulfillment on or before the Closing of each of the following
conditions, the waiver of which shall not be effective against the Investor
unless the Investor has consented in writing thereto:

                  4.1      Representations of this Agreement. The
representations and warranties of the Company contained in Section 2 shall be
true and correct in all material respects on and as of the date of the Closing
with the same effect as though such representations and warranties had been made
on and as of the date of the Closing.

                  4.2      Compliance Certificate. The Chairman of the Board,
Robert Sim, shall deliver to the Investor at Closing a certificate certifying to
the matters set forth in Section 4.1.

                  4.3      Share Certificates. The Investor shall have received
a certificate or certificates representing the Shares to be issued hereby, with
all such certificates registered in the name of the Investor.

                  4.4      Other Documents. The Investor shall have received all
documents they may reasonably request relating to the existence of the Company
and its authority to enter into and perform this Agreement, all in form and
substance reasonably satisfactory to the Investors.

                  4.5      Consents and Waivers. The Company shall have obtained
any and all consents and waivers necessary or appropriate for consummation of
the transactions contemplated by this Agreement.

                  4.6       Delivery of Gaming Machines. The delivery of all
components of all Gaming Machines constituting the Assets (as such terms are
defined in that certain Revised and Restated Gaming Equipment Sale Agreement, by
and between Phoenix Leisure, Inc. and ABD Gaming Supply, dated as of the date
hereof (the "Gaming Equipment Agreement")) shall have been completed.

         5.       Conditions of the Company's Obligations at Closing. The
obligations of the Company under Sections 1.1 and 1.2 of this Agreement are
subject to the fulfillment on or before the Closing of each

                                      -11-

<PAGE>

of the following conditions, the waiver of which shall not be effective against
the Company unless the Company has consented to such waiver in writing:

                  5.1      Representations of this Agreement. The
representations and warranties of Investors contained in Section 3 shall be true
and correct in all material respects on and as of the date of the Closing with
the same effect as though such representations and warranties had been made on
and as of the date of the Closing.

                  5.2      Evidence of Canceled Indebtedness. Zana shall deliver
at the Closing evidence that the Indebtedness has been canceled pursuant to the
terms and conditions of this Agreement.

                  5.3      Delivery of Gaming Machines. The delivery of all
components of all Gaming Machines constituting the Assets (as such terms are
defined in the Gaming Equipment Agreement) shall have been completed.

         6.       Indemnity

                  6.1      Indemnification by the Company. Subject to the limits
set forth in this Article 7, the Company agrees to indemnify, defend and hold
the Investor and each of its directors and officers harmless from and against
any and all loss, liability, damage, costs and expenses (including interest,
penalties and attorneys' fees) (collectively, "Losses") that the Investor or any
of its affiliates may incur or become subject to arising out of or due to any
(i) inaccuracy of any representation or the breach of any warranty or covenant
of the Company contained in this Agreement (including, without limitation, the
Schedules, Annexes and Exhibits hereto and the certificates delivered hereunder)
or as provided herein, and (ii) any and all Losses arising from any actions,
suits, proceedings, claims, demands, assessments, judgments incidental to the
foregoing or the enforcement of such indemnification. The Company will reimburse
the Investor and each controlling person for any legal or any other expenses
reasonably incurred by them in connection with investigating or defending any
such loss, claim, liability, action or proceeding.

                  6.2      Indemnification by the Investor. Subject to the
limits set forth in this Article 7, the Investor agrees to indemnify, defend and
hold the Company harmless from and against any and all Losses that the Company
or its affiliates may incur or become subject to arising out of or due to (i)
any inaccuracy of any representation or the breach of any warranty or covenant
of the Investor contained in this Agreement (including, without limitation, the
Schedules, Annexes and Exhibits hereto and thereto and the Certificates
delivered hereunder) or as provided herein and (ii) arising out of the conduct
of the business of the Company from and after the date hereof, except to the
extent any such Loss arises out of or is related to any matter for which
Investor is entitled to be indemnified by Company hereunder. The Investor will
reimburse the Company for any legal or other expenses reasonably incurred by him
in connection with investigating or defending any such loss, claim, liability,
action or proceeding.

                  6.3      Survival. The representations and warranties of the
Company set forth in Article 2 of this Agreement shall survive the Closing until
the first anniversary of the Closing Date. The representations and warranties of
the Investor set forth in Article 3 of this Agreement shall survive the

                                      -12-

<PAGE>

Closing until the first anniversary of the Closing Date. The covenants and
agreements of the Company and the Investor shall survive the Closing, and shall
continue in full force and effect forever, except as otherwise explicitly
limited by their terms and as otherwise provided by applicable law.

                  6.4      Limitations. No Indemnified Person hereunder shall be
entitled to seek indemnification from an Indemnifying Person until and unless
the aggregate of all claims for indemnification by the Indemnified Person
exceeds $50,000, in which event the Indemnified Person shall be entitled to
indemnity for all amounts in excess of $50,000. The indemnification obligations
of the Company pursuant to this Agreement shall be limited to an aggregate of
$500,000.

                  6.5      Third Party Claims. In order for a party (the
"Indemnified Party") to be entitled to any indemnification provided for under
this Agreement in respect of, arising out of, or involving a claim or demand or
written notice made by any third party against the Indemnified Party (a "Third
Party Claim") after the Closing Date, such Indemnified Party must notify the
Indemnifying Party (the "Indemnifying Party") in writing of the Third Party
Claim within 30 business days after receipt by such Indemnified Party of written
notice of the Third Party Claim; provided that the failure of any Indemnified
Party to give timely notice shall not affect his right of indemnification
hereunder except to the extent the Indemnifying Party has actually been
prejudiced or damaged thereby. If a Third Party Claim is made against an
Indemnified Party, the Indemnifying Party shall be entitled, if it so chooses,
to assume the defense thereof with counsel selected by the Indemnifying Party
(which counsel shall be reasonably satisfactory to the Indemnified Party). If
the Indemnifying Party assumes the defense of a Third Party Claim, the
Indemnified Party will cooperate in all reasonable respects with the
Indemnifying Party in connection with such defense, and shall have the right to
participate in such defense with counsel selected by it. The fees and
disbursements of such counsel, however, shall be at the expense of the
Indemnified Party; provided, however, that, in the case of any Third Party Claim
of which the Indemnifying Party has not employed counsel to assume the defense,
the fees and disbursements of such counsel shall be at the expense of the
Indemnifying Party.

                  6.6      Reduction for Insurance. The gross amount which an
Indemnifying Party is liable to, for, or on behalf of the Indemnified Party
pursuant to this Article 7 (the "Indemnifiable Loss") shall be reduced
(including, without limitation, retroactively) by any insurance proceeds
actually recovered by or on behalf of such Indemnified Party related to the
Indemnifiable Loss. If an Indemnified Party shall have received or shall have
had paid on its behalf an indemnity payment in respect of an Indemnifiable Loss
and shall subsequently receive directly or indirectly insurance proceeds in
respect of such Indemnifiable Loss, then such Indemnified Party shall pay to
such Indemnifying Party the net amount of such insurance proceeds or, if less,
the amount of such indemnity payment.

         7.       Miscellaneous.
                  -------------

                  7.1      No Additional Debt. The Investor and Zana acknowledge
that they are not owed any additional monies by the Company as of the date
hereof.

                  7.2      Representation. The Company has been represented by
Olshan Grundman Frome Rosenzweig & Wolosky LLP in connection with this
transaction and the documents executed in connection

                                      -13-

<PAGE>

therewith. The Investor and Zana have not been represented by Olshan Grundman
Frome Rosenzweig & Wolosky LLP in connection with this transaction and the
documents executed in connection therewith and have been advised to seek
independent counsel.

                  7.3      Successors and Assigns. The provisions of this
Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and permitted assigns; provided that the Company
may not assign, delegate or otherwise transfer any of its rights or obligations
under this Agreement without the consent of the Investor. Except as provided
under Section 7, neither this Agreement nor any provision hereof is intended to
confer upon any Person other than the parties hereto any rights or remedies
hereunder.

                  7.4      Governing Law. This Agreement shall be governed by
and construed under the laws of the State of Florida, without regard to
principles of conflicts of laws and rules of such state. The parties hereto
agree to submit to the jurisdiction of any Federal or state court located in the
State of Nevada for the purpose of resolving any action or claim arising out of
the performance of the provisions of this Agreement.

                  7.5      Counterparts. This Agreement may be executed in two
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

                  7.6      Further Assurances. Each party shall do and perform,
or cause to be done or performed, all such further acts and things and shall
execute and deliver all such other agreements, certificates, instruments and
documents, as the other party may reasonably request in order to carry out the
intent and accomplish the purposes of this Agreement, and the consummation of
the transactions contemplated hereby and thereby.

                  7.7      Titles and Subtitles. The titles and subtitles used
in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

                  7.8      Notices. Unless otherwise provided, any notice
required or permitted under this Agreement shall be given in writing and shall
be deemed effectively given (i) upon personal delivery to the party to be
notified, (ii) four (4) days after deposit with the United States Post Office,
by registered or certified mail, postage prepaid, or (iii) one day after deposit
with a reputable overnight courier service and addressed to the party to be
notified at the address indicated for such party on the signature page hereto,
or at such other address as such party may designate by ten (10) days' advance
written notice to the other parties, with a copy for the Company to Olshan
Grundman Frome Rosenzweig & Wolosky LLP, 505 Park Avenue, New York, New York
10022-1170, Attention: Robert Friedman, Esq.

                  7.9      Entire Agreement; Amendments and Waivers. This
Agreement, including the schedules and exhibits hereto constitute the full and
entire understanding and agreement among the parties with regard to the subjects
hereof. Any term of this Agreement may be amended and the observance of any term
of this Agreement may be waived (either generally or in a particular instance
and either

                                      -14-

<PAGE>

retroactively or prospectively), only with the written consent of the Company
and the Investor. Any amendment or waiver effected in accordance with this
Section 7.7 shall be binding upon the Investor and the Company.

                  7.10      Severability. If one or more provisions of this
Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of the Agreement shall be
interpreted as if such provision were so excluded and shall be enforceable in
accordance with its terms.

                  7.11      Expenses. The Company shall be responsible for all
costs and expenses (except for any and all taxes incurred with the transaction
shall be the responsibility of each respective party) incurred in connection
with the transactions contemplated by this Agreement.

                  IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first above written.

                                      VIVA GAMING & RESORTS, INC.

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

                                         Address:     3611 Lindell Road
                                                      Suite 108
                                                      Las Vegas, Nevada 89103

                                      ZANA HOLDINGS, INC.

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

                                        Address:
                                                 ----------------------------

                                                 ----------------------------

                                                 ----------------------------

                                       ----------------------------
                                       Bram Solloway

                                      -15-

<PAGE>

                                                     TABLE OF CONTENTS
                                                     -----------------
<TABLE>
<CAPTION>
                                                                                                                      Page
<S>      <C>                                                                                                           <C>

1.       Conversion of Existing Debt into Equity.......................................................................-2-
         ---------------------------------------
         1.1       Cancellation of Existing Debt.......................................................................-2-
                   -----------------------------
         1.2      Issuance of Securities...............................................................................-2-
                  ----------------------
         1.3      Closing..............................................................................................-2-
                  -------

2.       Representations and Warranties of the Company.................................................................-3-
         ---------------------------------------------
         2.1      Organization; Good Standing; Qualification and Corporate Power.......................................-3-
                  --------------------------------------------------------------
         2.2      Capitalization and Voting Rights.....................................................................-3-
                  --------------------------------
         2.3      Subsidiaries; Interests of the Company...............................................................-3-
                  --------------------------------------
         2.4      No Breach............................................................................................-4-
                  ---------
         2.5      No Undisclosed Liabilities...........................................................................-4-
                  --------------------------
         2.6      Authorization........................................................................................-4-
                  -------------
         2.7      Valid Issuance of Stock..............................................................................-4-
                  -----------------------
         2.8      Financial Statements.................................................................................-5-
                  --------------------
         2.9      Changes..............................................................................................-5-
                  -------
         2.10     Registration Rights..................................................................................-6-
                  -------------------
         2.11     Litigation...........................................................................................-7-
                  ----------
         2.12     Title to Property and Assets.........................................................................-7-
                  ----------------------------
         2.13     Agreements; Action...................................................................................-7-
                  ------------------
         2.14     Compliance with Laws; No Defaults....................................................................-8-
                  ---------------------------------
         2.15     Insurance............................................................................................-8-
                  ---------
         2.16     Tax Matters..........................................................................................-8-
                  -----------
         2.17     Governmental Regulation..............................................................................-8-
                  -----------------------
         2.18     Securities Act.......................................................................................-8-
                  --------------
         2.19     Related Party Transactions...........................................................................-9-
                  --------------------------
         2.20     SEC Documents........................................................................................-9-
                  -------------

3.       Representations and Warranties of the Investor................................................................-9-
         ----------------------------------------------
         3.1      Authorization........................................................................................-9-
                  -------------
         3.2      Purchase Entirely for Own Account...................................................................-10-
                  ---------------------------------
         3.3      [Intentionally Omitted.]............................................................................-10-
         3.4      Restricted Securities...............................................................................-10-
                  ---------------------
         3.5      Legends.............................................................................................-10-
                  -------
         3.6      No Violation........................................................................................-11-
                  ------------

4.       Conditions of the Investor's Obligations at Closing..........................................................-11-
         ---------------------------------------------------
         4.1      Representations of this Agreement...................................................................-11-
                  ---------------------------------
         4.2      Compliance Certificate..............................................................................-11-
                  ----------------------
         4.3      Share Certificates..................................................................................-11-
                  ------------------
</TABLE>

                                                           -i-

<PAGE>

<TABLE>
<CAPTION>
                                                                                                                      Page
<S>      <C>                                                                                                           <C>

         4.4      Other Documents.....................................................................................-11-
                  ---------------
         4.5      Consents and Waivers................................................................................-11-
                  --------------------
         4.6      Delivery of Gaming Machines. .......................................................................-11-
                  ---------------------------

5        Conditions of the Company's Obligations at Closing...........................................................-11-
         --------------------------------------------------
         5.1      Representations of this Agreement...................................................................-12-
                  ---------------------------------
         5.2      Evidence of Canceled Indebtedness...................................................................-12-
                  ---------------------------------
         5.3      Delivery of Gaming Machines ........................................................................-12-
                  ---------------------------

6.       Indemnity....................................................................................................-12-
         ---------
         6.1      Indemnification by the Company......................................................................-12-
                  ------------------------------
         6.2      Indemnification by the Investor.....................................................................-12-
                  -------------------------------
         6.3      Survival............................................................................................-12-
                  --------
         6.4      Limitations.........................................................................................-13-
                  -----------
         6.5      Third Party Claims..................................................................................-13-
                  ------------------
         6.6      Reduction for Insurance.............................................................................-13-
                  -----------------------

7        Miscellaneous................................................................................................-13-
         -------------
         7.1      No Additional Debt..................................................................................-13-
                  ------------------
         7.2      Representation......................................................................................-13-
                  --------------
         7.3      Successors and Assigns..............................................................................-14-
                  ----------------------
         7.4      Governing Law.......................................................................................-14-
                  -------------
         7.5      Counterparts........................................................................................-14-
                  ------------
         7.6      Further Assurances..................................................................................-14-
                  ------------------
         7.7      Titles and Subtitles................................................................................-14-
                  --------------------
         7.8      Notices.............................................................................................-14-
                  -------
         7.9      Entire Agreement; Amendments and Waivers............................................................-14-
                  ----------------------------------------
         7.10     Severability........................................................................................-15-
                  ------------
         7.11     Expenses............................................................................................-15-
                  --------
</TABLE>

Schedules, Exhibits and Annexes

Schedule 2.2               Outstanding Warrants, Rights, etc.
Schedule 2.3               Subsidiaries
Schedule 2.5               Liabilities
Schedule 2.7               Shares Reserved for Issuance
Schedule 2.9               Changes
Schedule 2.10              Registration Rights
Schedule 2.11                       Governmental Consents
Schedule 2.13                       Agreements
Schedule 2.16                       Tax Matters
Schedule 2.19                       Related Party Transactions

                                      -ii-REVISED AND RESTATED
                              --------------------
                         GAMING EQUIPMENT SALE AGREEMENT
                         -------------------------------

         THIS REVISED AND RESTATED GAMING EQUIPMENT AGREEMENT ("Agreement") is
made and entered into as of this ___ day of July, 2001, by and between PHOENIX
LEISURE, INC., a Nevada corporation (the "Seller"); and ABD GAMING SUPPLY, a
Mississippi corporation, and its designees and assigns (the "Purchaser").

                                    RECITALS
                                    --------

         WHEREAS, Seller owns certain gaming equipment (as more fully described
below the "Assets"); and

         WHEREAS, the Purchaser is desirous of buying said Assets and Seller is
desirous of selling said Assets, for the consideration and pursuant to the terms
and conditions as set forth below; and

         WHEREAS, the Purchaser and Seller are parties to a Gaming Equipment
Sale Agreement (the "Prior Sale Agreement"), dated April 18, 2001, and a related
convertible promissory note (the "Prior Note") of the same date, in the amount
of Four Hundred Thousand Dollars ($400,000)(collectively the "Prior
Agreements").

         NOW, THEREFORE, in consideration of the premises and of the mutual
agreements hereinafter set forth, the parties hereto agree as follows:

         This Agreement shall revise and replace, supersede and replace the
Prior Agreements in their entirety.

1.       SALE AND PURCHASE OF ASSETS
         ---------------------------

         1.1      Description of Assets. The Assets consist of gaming equipment
                  (the "Gaming Machines") described on Exhibit A, attached
                  hereto and incorporated herein by reference. It is agreed and
                  understood that One Hundred Sixty (160) of the total Six
                  Hundred (600) Gaming Machines were previously delivered to
                  Purchaser pursuant to the Prior Sale Agreement (described on
                  Exhibit A thereto), and Viva Gaming & Resorts, Inc., a Florida
                  corporation ("Viva") hereby acknowledges receipt of same to an
                  address designated by the Purchaser to Seller in writing (the
                  "Destination"), and agrees that the delivery of the Assets
                  described herein shall be net of such Assets previously
                  delivered (also referred to as the "Remaining Assets").

         1.2      Sale of Assets. Subject to the terms and conditions
                  hereinafter set forth, and exchanged for the consideration
                  described herein, Seller shall sell, transfer, assign and
                  deliver to Purchaser and Purchaser shall purchase and acquire
                  from Seller on the Closing Date (as such term is hereinafter
                  defined), all of Seller's right, title and interest in and to
                  the Assets.

<PAGE>

         1.3.     Use of Licensed Intermediary/True Party in Interest. It is
                  specifically agreed and understood that Purchaser is a
                  licensed gaming distributor under the laws of the State of
                  Mississippi, and is acting solely in an intermediary capacity
                  with respect to the purchase of the Assets. Accordingly,
                  Purchaser shall, immediately upon the effectiveness of this
                  Agreement, transfer the Remaining Assets to Viva, and that for
                  the purposes of the payment provisions herein, Viva shall be
                  an intended beneficiary of this Agreement, and an express
                  designee and assign of the Purchaser, and, that therefore,
                  Viva shall be considered the real party in interest receiving
                  the benefit of this Agreement, and shall be delivering the
                  Purchase Price to the Seller in consideration therefor.

         1.4      Purchase Price. The total purchase price (the "Purchase
                  Price") to be paid by the Purchaser (by its designee and
                  assigns, Viva) to the Seller for all of the Assets shall be
                  equal to the sum of One Million Five Hundred Thousand Dollars
                  ($1,500,000).

         1.5      Manner of Payment of Purchase Price. The Purchase Price shall
                  be paid by delivery by Viva to Seller at Closing (defined
                  below): (i) a convertible promissory note in the amount of
                  Five Hundred Thousand Dollars ($500,000), with a one (1) year
                  maturity, convertible at any time prior to maturity into Five
                  Hundred Thousand 500,000 shares of Viva's common stock
                  ("Common Stock"), par value $0.001 per share (the "Conversion
                  Shares") attached hereto as Exhibit B (the "Note"), and (ii)
                  One Million (1,000,000) shares of Viva's common stock (the
                  "Purchased Shares"). The Conversion Shares and the Purchased
                  Shares are collectively referred to as the "Shares."

         1.6      Closing Date and Place. The Closing shall take place
                  concurrently with the execution of this Agreement and delivery
                  of the Note and the Purchased Shares by Viva to Seller, at the
                  offices of the Seller or attorney of the Seller, located in
                  Las Vegas, Nevada, or by mail. (The date of Closing is
                  sometimes referred to herein as the "Closing Date.")

         1.7      Delivery of Assets. Seller shall ship the Remaining Assets to
                  the Destination. The cost of such shipping shall be paid by
                  the Seller, provided, however, that upon the delivery of the
                  Assets to the shipping carrier, Seller shall have no further
                  liability or obligation for the Assets (including, without
                  limitation, the condition of the Assets and the ultimate
                  delivery of the Assets to the Destination). By its execution,
                  Purchaser and Viva specifically acknowledge and agree that
                  while Seller shall pay the cost of shipping the Assets to Viva
                  at the Destination, Seller shall have no liability,
                  obligation, or other responsibility whatsoever with respect to
                  the transport of the Assets to the Destination, and Viva
                  agrees to be solely responsible for the Assets during shipping
                  and upon arrival at the Destination.

                                       2

<PAGE>

         1.8      Condition of the Assets. The Assets shall be in reasonable
                  working order but without any further or continuing guaranty
                  or warranty, either express or implied by the Seller, as to
                  the condition thereof. Viva shall have thirty (30) days after
                  its receipt of the Assets at the Destination to notify Seller
                  that the Assets are not in reasonable working order ("Notice
                  Period") together with a reasonably detailed explanation of
                  the defects ("Defect Notice"). If Viva has not so notified
                  Seller within the Notice Period, the Assets shall be
                  considered to be in reasonable working order for the purposes
                  of this Agreement. If a Defect Notice has been given to Seller
                  by Viva within the Notice Period, Seller shall have the right
                  to (a) repair the Asset and re-deliver, (b) replace the Asset
                  and re-deliver, or (c) deduct the prorata portion of the value
                  of the Asset ($2,500 per machine) from the balance due on the
                  Note. Re-delivery of a repaired Asset or a replaced Asset
                  shall recommence the Notice Period with respect to such Asset.
                  Seller agrees to provide to Viva technical support and
                  maintenance for the Assets once they commence gaming
                  activities in the Grandsur Casino located in the Grandsur Mall
                  in Mexico City, Mexico by Seller, under the terms of a
                  Technical Services Agreement to be executed at a later date
                  between parties.

2.       REPRESENTATIONS AND WARRANTIES OF SELLER
         ----------------------------------------

         The Seller represents and warrants to Purchaser and Viva that the
following representations and warranties are true and correct on the date
hereof, and will be so on the Closing Date.

         2.1.     Power and Authority; Authorization and Validity. The Seller
                  has full power and authority to execute, deliver, and perform
                  its obligations under this Agreement and all other agreements
                  and documents it is or will be executing in connection with
                  this Agreement and the transactions contemplated hereby. This
                  Agreement and each other agreement contemplated by this
                  Agreement have been or will be duly executed and delivered by
                  the Seller and constitute or will constitute legal, valid, and
                  binding obligations of the Seller, enforceable in accordance
                  with their terms, except as may be limited by applicable
                  bankruptcy, insolvency, or similar laws affecting creditors'
                  rights generally or the availability of equitable remedies.

         2.2.     Organization and Good Standing. The Seller is a corporation
                  validly existing under the laws of Nevada.

         2.3.     Title. The Seller has good and marketable title to the
                  Remaining Assets and there are no liens thereon which will
                  interfere with Viva's use and enjoyment of said Assets.

         2.4      Investment.
                  ----------

                  2.4.1    Purchase Entirely for Own Account. The Shares to be
                           received by the Seller pursuant to the terms hereof
                           will be acquired for investment for the Seller's own

                                       3

<PAGE>

                           account, not as a nominee or agent, and not with a
                           view to the resale or distribution of any part
                           thereof. The Seller has no present intention of
                           selling, granting any participation in, or otherwise
                           distributing the Shares acquired by the Seller. The
                           Seller has no contract, undertaking, agreement or
                           arrangement with any person to sell or transfer, or
                           grant any participation to such person or to any
                           third person, with respect to any of the Shares to be
                           acquired by the Seller.

                  2.4.2    Access to Information, Experience, Etc

                           (a)      The Seller has been furnished access to the
                                    business records of the Company and such
                                    additional information and documents as the
                                    Investor has requested and has been afforded
                                    an opportunity to ask questions of, and
                                    receive answers from, representatives of the
                                    Company concerning the terms and conditions
                                    of this Agreement, the purchase of the
                                    Shares, the business, operations, market
                                    potential, capitalization, financial
                                    condition and prospects of the Company, and
                                    all other matters deemed relevant to such
                                    Investor.

                           (b)      The Seller acknowledges that it has had an
                                    opportunity to evaluate all information
                                    regarding the Company as it has deemed
                                    necessary or desirable in connection with
                                    the transactions contemplated by this
                                    Agreement, has independently evaluated the
                                    transactions contemplated by this Agreement
                                    and has reached its own decision to enter
                                    into this Agreement.

                  2.4.3    Restricted Securities. The Seller understands that
                           the Shares to be acquired by the Seller have not been
                           registered under the Securities Act or the laws of
                           any state and may not be sold or transferred, or
                           otherwise disposed of, without registration under the
                           Securities Act and applicable state securities laws
                           or an exemption therefrom. The Seller will sell or
                           transfer, or otherwise dispose of, the Shares to be
                           acquired by the Seller only in a manner consistent
                           with the representations and warranties set forth
                           herein and any applicable federal and state
                           securities laws.

                  2.4.4    Legends. It is understood that the certificates
                           evidencing the Shares may bear one or all of the
                           following legends:

                           (a)      THE SECURITIES REPRESENTED BY THIS
                                    CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
                                    THE SECURITIES ACT OF 1933, AS AMENDED, OR
                                    APPLICABLE STATE SECURITIES LAWS AND MAY NOT
                                    BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED
                                    OF IN THE ABSENCE OF AN EFFECTIVE
                                    REGISTRATION STATEMENT WITH RESPECT TO THE
                                    SECURITIES EVIDENCED BY THIS CERTIFICATE,
                                    FILED AND MADE EFFECTIVE UNDER THE

                                       4

<PAGE>

                                    SECURITIES ACT OF 1933, AS AMENDED, AND SUCH
                                    APPLICABLE STATE SECURITIES LAWS, OR UNLESS
                                    THE COMPANY RECEIVES AN OPINION OF COUNSEL
                                    REASONABLY SATISFACTORY TO THE COMPANY TO
                                    THE EFFECT THAT REGISTRATION UNDER SUCH ACT
                                    AND SUCH APPLICABLE STATE SECURITIES LAWS IS
                                    NOT REQUIRED.

3.       REPRESENTATIONS AND WARRANTIES OF PURCHASER.
         -------------------------------------------

         Purchaser (including Viva) represents and warrants to Seller, knowing
and intending that Seller shall rely thereon in entering into this Agreement and
performing the obligations on its part to be performed hereunder, that the
following representations and warranties are true and correct on the date
hereof, and will be so on the Closing Date.

         3.1.     Power and Authority; Authorization and Validity. The Purchaser
                  has full power and authority to execute, deliver, and perform
                  its obligations under this Agreement and all other agreements
                  and documents it is or will be executing in connection with
                  this Agreement and the transactions contemplated hereby. This
                  Agreement and each other agreement contemplated by this
                  Agreement (including the Note) have been or will be duly
                  executed and delivered by the Purchaser and constitutes or
                  will constitute the legal, valid, and binding obligations of
                  the Purchaser, enforceable in accordance with their terms,
                  except as may be limited by applicable bankruptcy, insolvency,
                  or similar laws affecting creditors' rights generally or the
                  availability of equitable remedies.

         3.2      Organization and Good Standing. Purchaser is duly organized
                  and in good standing in its jurisdiction of formation, and is
                  qualified to do business where it is required to be so
                  qualified.

         3.3      Binding Obligation. The execution and delivery of this
                  Agreement and the other instruments and agreements
                  contemplated hereby by Purchaser and the performance by
                  Purchaser of the transactions contemplated by this Agreement
                  have been duly authorized by all required corporate action of
                  Purchaser and will not violate Purchaser's articles of
                  incorporation or bylaws, or any judgment, indenture, agreement
                  or contract to which Purchaser is a party or by which
                  Purchaser is bound. The Agreement constitutes the valid and
                  legally binding obligation of Purchaser, enforceable in
                  accordance with its terms and conditions, except as such
                  enforceability may be limited by applicable bankruptcy,
                  insolvency or similar laws affecting the enforcement of
                  creditors rights generally and by general principals of
                  equity.

         3.4      Authorization. The Shares are duly authorized and, when
                  delivered in compliance with this Agreement, or pursuant to
                  the Convertible Note, as the case may be, will be duly and
                  validly issued and outstanding, fully paid and nonassessable,
                  and will be free of any liens, encumbrances and restrictions
                  whatsoever.

                                       5

<PAGE>

         3.5      Compliance with Securities Laws. Viva has issued the Purchased
                  Shares, and will issue the Conversion Shares, in compliance
                  with all applicable state and federal laws regulating the
                  offer, sale and issuance of securities.

         3.6      Availability of Shares. Viva shall at all times reserve and
                  maintain a sufficient number of its authorized but unissued
                  Common Stock to satisfy the conversion feature of the
                  Convertible Note and deliver the Conversion Shares.

         3.7      Rule 144. Viva has and shall continue to meet all the
                  prerequisites of Rule 144 of the Securities Act such that
                  Purchaser shall be entitled to rely on the "Safe Harbor"
                  provisions of same if and when it re-sells the Shares.

4.       CONDITIONS PRECEDENT TO PURCHASER'S OBLIGATION.
         ----------------------------------------------

         Notwithstanding any other provision of this Agreement to the contrary,
Purchaser's obligations hereunder are subject to, and Purchaser shall have no
obligation to consummate the transactions contemplated hereunder unless all of
the following conditions are satisfied (provided that any of the same may be
waived in writing by Purchaser). Unless otherwise expressly provided elsewhere
in this Agreement, no failure of any of the following conditions shall
constitute a breach or default hereunder on the part of the Seller.

         4.1      Representations and Warranties. Seller's representations and
                  warranties contained herein and in any certificate or document
                  delivered to Purchaser pursuant hereto shall be deemed to have
                  been made again at and as of the date of the Closing and shall
                  then be true and correct in all material respects.

         4.2      Performance. Seller shall have performed and complied with all
                  covenants and agreements that Seller is required to perform or
                  with which it is required to comply prior to or at the
                  Closing.

         4.3      No Liens. The Assets shall be free and clear of all liens and
                  encumbrances, except liens that are terminated simultaneously
                  with the Closing.

                                       6
<PAGE>

5.       CONDITIONS PRECEDENT TO SELLER'S OBLIGATIONS.
         --------------------------------------------

         Seller's obligations hereunder are subject to the fulfillment prior to
or at the Closing of each of the following conditions and Seller shall have no
obligation to consummate the transactions contemplated hereunder unless all of
the following conditions are satisfied (provided that any of the same (except
the Gaming Laws, as defined below) may be waived in writing by Seller):

         5.1      Gaming Laws. This Agreement and Seller's obligations
                  hereunder, are expressly subject to all applicable gaming
                  laws, rules and regulations (the "Gaming Laws"), including,
                  without limitation, the laws of the States of Mississippi,
                  Nevada and Washington. Any action herein in contravention of
                  such laws, rules and regulations shall be null and void ab
                  initio.

         5.2      Representations and Warranties. The Purchaser's
                  representations and warranties contained herein and in any
                  certificate or document delivered to Seller pursuant hereto
                  shall be deemed to have been made again at and as of the date
                  of the Closing and shall then be true and correct in all
                  material respects.

         5.3      Performance. Purchaser shall have performed and complied with
                  all covenants and agreements that Purchaser is required to
                  perform or with which it is required to comply prior to or at
                  the Closing.

         5.4      Purchase Price. Viva shall deliver the Purchase Price in the
                  form and on or before the date provided for herein.

6.       INDEMNIFICATION

         6.1      Indemnification by Seller. From and after completion of the
                  Closing, Seller will indemnify, defend, and hold harmless
                  Purchaser and Viva and its shareholders, directors and
                  officers from and against:

                  (a)      all damages to Purchaser and Viva resulting from or
                           arising out of (A) any breach of any representation
                           or warranty made by Seller in this Agreement; or (B)
                           any act or omission of Seller with respect to, or any
                           event or circumstance related to, the ownership of
                           the Assets, which occurred or existed prior to or at
                           the Closing Date; and

                  (b)      all claims, actions, suits, proceedings, demands,
                           judgments, assessments, fines, interest, penalties,
                           costs and expenses (including settlement costs and
                           reasonable legal, account, experts and other fees,
                           costs and expenses) resulting from the foregoing.

                                       7

<PAGE>

         6.2      Indemnification by Purchaser and Viva. From and after the
                  completion of the Closing, Purchaser will indemnify, defend
                  and hold harmless Seller, and Seller's shareholders,
                  directors, officers, employees, agents, successors and
                  assigns, from and against:

                  (a)      all damages to Seller or any such other indemnified
                           person resulting from or arising out of (i) any
                           breach of any representation or warranty made by
                           Purchaser in this Agreement; (ii) the breach of any
                           covenant, agreement, or obligation of Purchaser
                           contained in this Agreement, (iii) any act or
                           omission of Purchaser with respect to, or any event
                           or circumstance related to, the ownership or
                           operation of the Assets, which act, omission, event
                           or circumstance occurs after the Closing Date, or
                           (iv) the failure by Purchaser to perform any of its
                           obligations hereunder and with regard to the Assets;
                           and

                  (b)      all claims, actions, suits, proceedings, demands,
                           judgments, assessments, fines, interest, penalties,
                           costs and expenses (including, without limitation,
                           settlement costs and reasonable legal, accounting,
                           experts and other fees, costs and expenses) incident
                           or relating to or resulting from any of the
                           foregoing.

         6.3      Procedures; Third-Party Claims.
                  ------------------------------

                  (a)      If a claim to which the indemnification provisions of
                           this Article 6 apply arises out of any suit, claim or
                           other assertion of liability by a third party
                           (hereinafter referred to collectively as the "Claims"
                           and individually as a "Claim"), the indemnified party
                           agrees to promptly give written notice to the
                           indemnifying party of the existence of such claim.

                  (b)      The obligations and liabilities of the parties hereto
                           with regard to their respective indemnities hereunder
                           resulting from any Claim shall be subject to the
                           following additional terms and conditions:

                           (i)      The indemnifying party shall have the right
                                    to undertake, by counsel or other
                                    representatives of its own choosing, the
                                    defense of or opposition to such Claim;

                           (ii)     In the event that the indemnifying party
                                    shall elect not to undertake such defense or
                                    opposition, or within fourteen (14) days
                                    after notice of any such Claim the
                                    indemnified party shall fail to defend or
                                    oppose such Claim, the indemnified party
                                    (upon further written notice to the
                                    indemnifying party) shall have the right to
                                    undertake the defense, opposition,
                                    compromise or settlement of such Claim, by
                                    counsel or other representatives of its own
                                    choosing, on behalf of and for the account

                                       8

<PAGE>

                                    and risk of the indemnifying party (subject
                                    to the right of the indemnifying party to
                                    assume defense of or opposition to such
                                    Claim at any time prior to settlement,
                                    compromise or final determination thereof).

                           (iii)    Anything in this Article 6 to the contrary
                                    notwithstanding: (A) if there is a
                                    reasonable probability that a Claim may
                                    materially and adversely affect the
                                    indemnified party, the indemnified party
                                    shall have the right, at its own cost and
                                    expense, to participate in the defense,
                                    opposition, compromise or settlement of the
                                    Claim; (B) the indemnifying party shall not,
                                    without the indemnified party's written
                                    consent, settle or compromise any Claim or
                                    consent to entry of any judgment which does
                                    not include as an unconditional term thereof
                                    the release of the indemnified party by the
                                    claimant or the plaintiff to such Claim from
                                    all liability regarding said Claim, and (C)
                                    in the event that the indemnifying party
                                    undertakes defense of or opposition to any
                                    Claim, the indemnified party, by counsel or
                                    other representative of its own choosing,
                                    and at its sole cost and expense, shall have
                                    the right to consult with the indemnifying
                                    party and its counsel or other
                                    representatives concerning such Claim and
                                    the indemnifying party and the indemnified
                                    party, and their respective counsel or other
                                    representatives, shall cooperate in good
                                    faith with respect to such Claim.

                           (iv)     No undertaking of defense or opposition to a
                                    Claim shall be construed as an
                                    acknowledgment by such party that it is
                                    liable to the party claiming indemnification
                                    with respect to such Claim or other similar
                                    Claims.

         6.4      Certain Limitations on Indemnity.
                  --------------------------------

                  (a)       Notwithstanding the abovesaid, no claims shall be
                            brought against either party hereunder and/or
                            pursuant to the indemnification provisions of this
                            Agreement (except as the result of the intentional
                            misconduct or fraud of a party) until the aggregate
                            amount of such claims or losses exceeds the total of
                            $15,000, provided that if such aggregate claims and
                            losses by such party exceed $15,000, Purchaser,
                            Seller or the other indemnified parties hereunder,
                            as the case may be, may seek indemnification
                            hereunder for the entire amount of all such claims
                            and losses (and shall not be limited to seeking
                            indemnification for the claims and losses in excess
                            of up to the amount of the Purchase Price
                            hereunder).

                  (b)      Except for losses, claims or liabilities arising due
                           to the intentional or gross misconduct and/or
                           fraudulent action of the Seller with regard to which
                           there will be no time limitation pursuant to this
                           Section 6.4 or otherwise, any claim, loss or
                           liability by the Purchaser for breaches of the

                                       9

<PAGE>

                           representations and warranties made by Seller in this
                           Agreement must be first made by Purchaser no later
                           than 1 year from the date of the Closing.

7.       NOTICES
         -------

         All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed to have been duly given when either personally
served or mailed by certified or registered mail, return receipt requested, at
the addresses set forth on the signature page of this Agreement or to such other
address or to such other persons as Purchaser or Seller shall have last
designated by written notice to the other party hereto.

8.       MISCELLANEOUS.
         -------------

                  (a)      Benefits. This Agreement shall inure to the benefit
                           of and be binding upon the parties hereto and their
                           respective successors, heirs, designees and/or
                           assigns.

                  (b)      Further Assurances. The parties hereto agree and
                           acknowledge that they shall execute and deliver any
                           and all additional writings, instruments, and other
                           documents contemplated hereby or referred to herein,
                           and shall take such further action as is reasonably
                           required in order to effectuate the terms and
                           conditions of this Agreement.

                  (c)      Governing Law. This Agreement shall be governed by
                           and construed according to the laws of the State of
                           Nevada, without regard to its conflicts of law
                           principles.

                  (d)      Article Headings. The article headings contained in
                           this Agreement are for reference purposes only, and
                           shall not affect the meaning or interpretation of
                           this Agreement or any provision hereof.

                  (e)      Costs and Expenses. Purchaser and Seller shall each
                           pay its own costs and expenses, including attorneys'
                           fees, relating to the execution and delivery of this
                           Agreement and the consummation of all transactions
                           contemplated herein.

                  (f)      Assignment. Seller may assign its rights and
                           obligations under this Agreement to an entity under
                           common control with and/or affiliated with or a
                           partner or joint venturer with the Seller. Except as
                           set forth above, neither Seller nor Purchaser may
                           assign this Agreement or any rights or obligations
                           hereunder without the prior consent of the other
                           party. Any such consents required hereunder shall
                           not be unreasonably withheld or delayed, provided
                           the assignee agrees to perform all of the
                           obligations of the assignor and the assignor is not
                           relieved of its obligations hereunder.

                                       10

<PAGE>

                  (g)      Modification. This Agreement shall not be amended,
                           modified or supplemented at any time except by a
                           writing executed by the parties hereto. No
                           amendment, supplement or termination of this
                           Agreement shall affect or impair any rights or
                           obligations that have heretofore matured hereunder.

                  (h)      Confidentiality. The parties (including their
                           respective designees and/or assigns) will keep the
                           existence and terms of this Agreement, including
                           without limitation, the Purchase Price, confidential
                           and will not disclose the same to any person, except
                           for disclosures required by law, disclosures on tax
                           returns, disclosures to employees of Purchaser or
                           Seller who have a need to know such information, and
                           to attorneys, accountants and similar advisors of
                           Purchaser or Seller.

                           [SIGNATURE PAGE TO FOLLOW]

                                       11
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused these presents to be
signed sealed and delivered as of the date first above written.

                                   PURCHASER:

                                   ABD GAMING SUPPLY, a Mississippi corporation

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

                                   Address:     3611 S. Lindell Road, Suite 201
                                                Las Vegas, Nevada 89103
                                                Attention:
                                                           ---------------------

                                   PURCHASER DESIGNEE - VIVA:

                                   VIVA GAMING & RESORTS INC., a Florida
                                   corporation

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

                                    Address:    3611 S. Lindell Road, Suite 201
                                                Las Vegas, Nevada 89103
                                                Attention:
                                                           ---------------------

                                    SELLER:

                                    PHOENIX LEISURE, INC., a Nevada corporation

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

                                    Address:    3611 S. Lindell Road, Suite 201
                                                Las Vegas, Nevada 89103
                                                Attention:
                                                           ---------------------

                                       12

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