Document:

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                                                                    EXHIBIT 10.1

                     PARTNERSHIP INTEREST PURCHASE AGREEMENT

                                      AMONG

                             CONCORDE CRUISES, INC.,

                     GOLDCOAST ENTERTAINMENT CRUISES, INC.,

                                MICHAEL A. HLAVSA

                                       AND

                                 DAVID GROSSMAN

                            ========================

                           Dated as of March 31, 2000

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                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                     PAGE NO.
                                                                                     --------
<S>                                                                                  <C>
Article I DEFINITIONS.......................................................................1

     Section 1.01.   Definitions............................................................1

Article II SALE AND PURCHASE OF PARTNERSHIP INTERESTS.......................................5

     Section 2.01.   Sale and Purchase......................................................5
     Section 2.02.   Purchase Price.........................................................5
     Section 2.03.   Escrow.................................................................6
     Section 2.04.   Closing................................................................6
     Section 2.05.   Deliveries by the Shareholders and Goldcoast...........................6
     Section 2.06.   Deliveries by Buyer....................................................7
     Section 2.07.   Allocation of Purchase Price...........................................7
     Section 2.08.   Further Assurances.....................................................7

Article III REPRESENTATIONS AND WARRANTIES BY GOLDCOAST AND THE SHAREHOLDERS................8

     Section 3.01.   Due Incorporation......................................................8
     Section 3.02.   No Subsidiaries........................................................8
     Section 3.03.   Due Authorization......................................................8
     Section 3.04.   Consents and Approvals; Authority Relative to this Agreement...........8
     Section 3.05.   Title to Partnership Interests.........................................8
     Section 3.06.   Financial Statements; Undisclosed Liabilities; Other Documents.........9
     Section 3.07.   Management of Bayfront and Princesa....................................9
     Section 3.08.   Contracts..............................................................9
     Section 3.09.   Litigation............................................................10
     Section 3.10.   Accuracy of Statements................................................10

Article IV REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDERS..............................11

     Section 4.01.   Shareholders' Power and Authority.....................................11
     Section 4.02.   Ownership of Goldcoast................................................11
     Section 4.03.   Effect of Agreement on the Shareholders...............................11
     Section 4.04.   Agreements Among Shareholders.........................................11

Article V REPRESENTATIONS AND WARRANTIES OF BUYER..........................................11

     Section 5.01.   Due Incorporation.....................................................11
     Section 5.02.   Due Authorization.....................................................12
     Section 5.03.   Consents and Approvals; Authority Relative to This Agreement..........12
     Section 5.04.   Litigation............................................................13
</TABLE>

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<TABLE>
<S>                                                                                  <C>
     Section 5.05.   Accuracy of Statements................................................12

Article VI TAX REPRESENTATIONS AND COVENANTS...............................................12

     Section 6.01.   Tax Representations...................................................12

Article VII additional AGREEMENTS OF THE PARTIES...........................................13

     Section 7.01.   Public Announcements..................................................13
     Section 7.02.   Confidentiality.......................................................13
     Section 7.03.   Personal Guarantees...................................................13

Article VIII INDEMNIFICATION...............................................................13

     Section 8.01.   Survival..............................................................13
     Section 8.02.   Indemnification Obligations...........................................14
     Section 8.03.   Method of Asserting Claims, Etc.......................................14
     Section 8.04.   Arbitration...........................................................16
     Section 8.05.   Payment...............................................................17
     Section 8.06.   Equitable Relief......................................................18

Article IX MISCELLANEOUS...................................................................18

     Section 9.01.   Expenses..............................................................18
     Section 9.02.   Amendment.............................................................18
     Section 9.03.   Notices...............................................................18
     Section 9.04.   Waivers...............................................................20
     Section 9.05.   Counterparts..........................................................20
     Section 9.06.   Interpretation........................................................20
     Section 9.07.   Applicable Law........................................................20
     Section 9.08.   Assignment............................................................20
     Section 9.09.   No Third-Party Beneficiaries..........................................20
     Section 9.10.   Severability..........................................................20
     Section 9.11.   Remedies Cumulative...................................................21
     Section 9.12.   Entire Understanding..................................................21

Exhibit A:      Escrow Agreement..........................................................A-1
Exhibit B:      Form of Assignment of Partnership Interests...............................B-1
Exhibit C:      Form of Goldcoast's Officers Certificate..................................C-1
Exhibit D:      Form of Mutual Release....................................................D-1
Exhibit E:      Form of Buyer's Officers Certificate......................................E-1
</TABLE>

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                     PARTNERSHIP INTEREST PURCHASE AGREEMENT

     This PARTNERSHIP INTEREST PURCHASE AGREEMENT (this "Agreement") is dated as
of March 31, 2000, among Concorde Cruises, Inc., a South Dakota corporation
("Buyer"), Goldcoast Entertainment Cruises, Inc., a Florida corporation
("Goldcoast"), and Michael A. Hlavsa, a shareholder of Goldcoast, and David
Grossman, a shareholder of Goldcoast (each referred to herein individually as a
"Shareholder" and collectively as the "Shareholders"). The Buyer, Goldcoast and
the Shareholders are each sometimes referred to herein individually as a "Party"
and collectively as the "Parties."

                                P R E A M B L E:

     WHEREAS, pursuant to a joint venture agreement dated August 27, 1997, as
amended, Goldcoast owns 20% of the outstanding partnership interest in Bayfront
Ventures, a Florida general partnership ("Bayfront"), and Buyer, a wholly owned
subsidiary of Concorde Gaming Corporation ("Concorde"), owns 80% of the
outstanding partnership interest in Bayfront;

     WHEREAS, pursuant to a joint venture agreement dated October 1, 1998, as
amended, Goldcoast owns 20% of the outstanding partnership interest in Princesa
Partners, a Florida general partnership ("Princesa"), and Conami, Inc., a wholly
owned subsidiary of Concorde, owns 80% of the outstanding partnership interest
in Princesa;

     WHEREAS, the Shareholders own all of the issued and outstanding shares of
common stock of Goldcoast; and

     WHEREAS, Goldcoast wishes to sell its partnership interests in Bayfront and
Princesa (collectively, the "Partnership Interests") to Buyer and Buyer desires
to purchase such Partnership Interests from Goldcoast.

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
covenants, agreements and warranties contained herein, and for other good and
valuable consideration, the Parties agree as follows:

                                   ARTICLE I

                                   DEFINITIONS

     Section 1.01. DEFINITIONS.

          (a) The following terms shall have the following meanings for the
     purposes of this Agreement:

     "Affiliate" means, with respect to any specified Person, (i) any other
Person which, directly or indirectly, owns or controls, is under common
ownership or control with, or is owned or controlled by, such specified Person,
(ii) any other Person that is a director, officer or partner or is, directly or
indirectly, the beneficial owner of 10% or more of any class of equity
securities

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of the specified Person or a Person described in clause (i) of this paragraph,
(iii) another Person of which the specified Person is a director, officer or
partner or is, directly or indirectly, the beneficial owner of 10% or more of
any class of equity securities, or (iv) any relative or spouse of the specified
Person or any of the foregoing Persons.

     "Business Day" means any day of the year other than (i) any Saturday or
Sunday or (ii) any other day on which commercial banks located in New York, New
York, are generally closed for business.

     "Code" means the United States Internal Revenue Code of 1986, as amended,
and the regulations promulgated thereunder.

     "Company" means individually either Bayfront or Princesa, and collectively
Bayfront and Princesa are herein referred to as "Companies."

     "Confidential Information" means any information relating to the
properties, prospects, products, services or operations of the Companies or any
direct or indirect Affiliate thereof that is not generally known, is proprietary
to the Companies or such Affiliate and is made known to such Person or learned
or acquired by such Person while such Person was a general partner, officer,
director, employee or independent contractor of the Companies, including,
without limitation, submission and proposal procedures of the Companies,
customer or contact lists, information concerning trade secrets of the
Companies, or any of its Affiliates and any improvements relating to the
products of the Companies in accounting, marketing, selling, leasing, financing
and other business methods and techniques. However, Confidential Information
shall not include (i) at the time of disclosure to any Person such information
that was in the public domain or later entered the public domain other than as a
result of a breach of an obligation herein; or (ii) subsequent to disclosure to
any Person, such Person received such information from a third party under no
obligation to maintain such information in confidence, and the third party came
into possession of such information other than as a result of a breach of an
obligation herein.

     "Contract" means any contract, lease, commitment, understanding, sales
order, purchase order, agreement, indenture, mortgage, note, bond, right,
warrant, instrument, plan, permit or license, whether written or oral, that is
intended or purports to be binding and enforceable.

     "Escrow Agent" means the escrow agent designated in the Escrow Agreement.

     "Escrow Agreement" means the escrow agreement to be entered into by and
among Buyer, Goldcoast and the Escrow Agent in the form attached hereto as
Exhibit A.

     "Financial Statements" means collectively, for each Company the (i) balance
sheets dated as of September 30, 1999 and 1998 and February 29, 2000, (ii)
related statements of income, changes in shareholders equity, and cash flows for
the fiscal years ended September 30, 1999 and 1998 and five months ended
February 29, 2000, and (iii) related notes and schedules, if any.

     "Governmental Authority" means the government of the United States or any
foreign country or any state or political subdivision thereof and any entity,
body or authority exercising

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executive, legislative, judicial, regulatory or administrative functions of or
pertaining to government.

     "Holdback Escrow" means an account established by the Escrow Agent in
accordance with Section 2.03 and the Escrow Agreement.

     "Indemnified Person" means the Person or Persons entitled to, or claiming a
right to, indemnification.

     "Indemnifying Person" means the Person or Persons claimed by the
Indemnified Person to be obligated to provide indemnification.

     "Indemnity Escrow" means an account established by the Escrow Agent in
accordance with Section 2.03 and the Escrow Agreement.

     "Joint Venture Agreements" means (a) the agreement dated August 27, 1997,
as amended, between Goldcoast and Buyer for Bayfront, and (b) the agreement
dated October 1, 1998, as amended, between Goldcoast and Conami, Inc. for
Princesa.

     "Knowledge" of a particular fact or other matter means:

     (a) such Person is actually aware of such fact or other matter; or

     (b) such Person should have discovered or become aware of such fact or
other matter in the course of conducting a reasonable investigation concerning
such fact or other matter.

     A Person other than an individual shall be deemed to have "Knowledge" of a
particular fact or matter only if a director, officer or key employee of such
Person has, had or should have had Knowledge of such fact or matter.

     "Law" means any law, statute, regulation, ordinance, rule, order, decree,
judgment, consent decree, settlement agreement or governmental requirement
enacted, promulgated, entered into, agreed or imposed by any Governmental
Authority.

     "Legislative Session Expiration Date" means the last day on which the
governor of Florida may approve a bill passed by the Florida legislature during
the 2000 regular session of the Florida legislature.

     "Lien" means any security agreement, financing statement filed with any
Governmental Authority, conditional sale or other title retention agreement, any
lease, consignment or bailment given for purposes of security, any lien,
mortgage, indenture, pledge, option, encumbrance, adverse interest, constructive
trust or other trust, claim, attachment, exception to or defect in title or
other ownership interest (including but not limited to reservations, rights of
entry, possibilities of reverter, encroachments, easement, rights-of-way,
restrictive covenants, and licenses) of any kind, which otherwise constitutes an
interest in or claim against property, whether arising pursuant to any Law,
Contract, or otherwise.

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     "Loss" or "Losses" means any and all liabilities, losses, costs, claims,
damages (including consequential damages), penalties and expenses (including
reasonable attorneys' fees and expenses and costs of investigation and
litigation). In the event any of the foregoing are indemnifiable hereunder, the
terms "Loss" and "Losses" shall include any and all reasonable attorneys' fees
and expenses and costs of investigation and litigation incurred by the
Indemnified Person in enforcing such indemnity. No Loss shall be reduced by
reason of tax benefits allegedly enjoyed as a result of such Loss by any
Indemnified Person.

     "Material Adverse Effect" means any material adverse change in, or material
adverse effect on, the business, assets, prospects, results of operations, value
or financial or other condition of Goldcoast, or any event or circumstance that
would likely prevent, hinder or materially delay the consummation of any of the
transactions contemplated by this Agreement and the Related Agreements.

     "Person" means any individual, corporation, proprietorship, firm,
partnership, limited partnership, limited liability company, trust, association
or other entity, including a government or government department, agency or
instrumentality.

     "Related Agreement" means any Contract that is or is to be entered into at
the Closing or otherwise pursuant to this Agreement.

     "Subsidiaries" means any Person 50.1% or more of the voting power of which
is controlled by another Person.

     "Tax" or "Taxes" means (a) any net income, alternative or add-on minimum
tax, gross income, gross receipts, sales, use, ad valorem, value added,
transfer, franchise, profits, license, withholding, payroll, employment, excise,
severance, stamp, occupation, premium, property, environmental or windfall
profit tax, custom, duty or other tax, governmental fee or other like assessment
or charge of any kind whatsoever, together with any interest, penalty,
addition-to-tax or additional amount imposed by any governmental authority
(domestic or foreign) responsible for the imposition of any such tax (a "Taxing
Authority"), (b) any liability of the Companies for the payment of any amount of
the type described in clause (a) above as a result of being a member of an
affiliated, consolidated, combined or unitary group, and (c) any liability of
the Companies for the payment of any amount as a result of being party to any
Tax Sharing Agreement or with respect to the payment of any amounts of the type
described in clauses (a) or (b) above as a result of any express or implied
obligation to indemnify any other Person.

     "Tax Sharing Agreement" means any existing Tax sharing agreements or
arrangements (whether or not written) binding Goldcoast and any other agreement
or arrangement (including any arrangement required or permitted by law) that (a)
requires Goldcoast to make any Tax payment to or for the account of any other
person, (b) affords any other person to utilize any tax attributes of Goldcoast
to reduce such other person's Taxes, (c) affords Goldcoast to utilize any tax
attributes of any other person to reduce any Taxes of Goldcoast, (d) requires or
permits the transfer or assignment of income, revenues, receipts, or gains, or
(e) requires or permits Goldcoast to determine its Tax liability by taking into
account or by reference to the Tax liability, income, revenues, receipts or
gains of any other person.

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     "Treasury Regulations" means the U.S. income tax regulations, including
temporary regulations, promulgated under the Code, as of the date hereof.

          (b) Each of the following terms is defined in the section set forth
     opposite such term below:

<TABLE>
<S>                                           <C>
          Agreement...........................Introductory Paragraph
          Balance Sheet Date.........................Section 3.06(b)
          Bayfront..........................................Preamble
          Buyer...............................Introductory Paragraph
          Claim Notice............................Section 8.03(a)(i)
          Closing.......................................Section 2.04
          Closing Date..................................Section 2.04
          Company Contracts.............................Section 3.08
          Concorde..........................................Preamble
          Escrow Amount.................................Section 2.03
          Final Determination........................Section 8.03(d)
          GAAP..........................................Section 3.06
          Goldcoast...........................Introductory Paragraph
          Holdback Amount............................Section 2.03(b)
          Indemnification Obligation.................Section 8.02(a)
          Indemnity Amount...........................Section 2.03(a)
          Notice Period..........................Section 8.03(a)(ii)
          Partnership Interest..............................Preamble
          Party.............................................Preamble
          Personal Guarantees...........................Section 7.03
          Princesa..........................................Preamble
          Purchase Price................................Section 2.02
          Shareholder.........................Introductory Paragraph
</TABLE>

                                   ARTICLE II

                   SALE AND PURCHASE OF PARTNERSHIP INTERESTS

     Section 2.01. SALE AND PURCHASE. Subject to the terms and conditions set
forth in this Agreement, Goldcoast hereby agrees to sell, assign, transfer and
deliver to Buyer all right, title and interest in and to (i) its Partnership
Interest in Bayfront and (ii) its Partnership Interest in Princesa, free and
clear of all Liens, and Buyer hereby agrees to purchase such Partnership
Interests.

     Section 2.02. PURCHASE PRICE. The purchase price for the Partnership
Interests (the "Purchase Price") of $1,500,000, less the Escrow Amount, shall be
paid to Goldcoast in immediately available funds by wire transfer to a bank
account designated by Goldcoast at least two days prior to the Closing Date or,
if not so designated, then by certified or official bank check payable in
immediately available funds to the order of Goldcoast in such amount.

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     Section 2.03. ESCROW. Subject to the terms and conditions set forth herein
and in the Escrow Agreement, Buyer shall withhold an aggregate of 30% from the
Purchase Price otherwise payable to Goldcoast (the "Escrow Amount") and deposit
the Escrow Amount into the Indemnity Escrow and the Holdback Escrow, as follows:

          (a) 5% of the Purchase Price ("Indemnity Amount") shall be deposited
     into the Indemnity Escrow, for a period of twelve months, as partial
     security for the Indemnification Obligations as set forth in Article VIII;
     and

          (b) 25% of the Purchase Price ("Holdback Amount") shall be deposited
     into the Holdback Escrow, until the Legislative Session Expiration Date, to
     be distributed to Buyer in the event that during such time period any rule,
     law, regulation or statute is adopted or enacted by a federal, state, local
     or other governmental or quasi-governmental entity, or any decision or
     proceeding by a court or other tribunal that (i) prohibits or has a
     material adverse affect on the business of the Companies as such business
     is currently conducted as of the date hereof, or (ii) permits Class III
     gaming on Indian reservations.

     Section 2.04. CLOSING. The closing of the transactions contemplated herein
(the "Closing") shall take place concurrently with the execution of this
Agreement at the offices of Morrison & Foerster LLP, at 370 Seventeenth Street,
Suite 5200, Denver, Colorado 80202, unless another place or time is agreed to in
writing by Buyer and Goldcoast. The date upon which the Closing actually occurs
is referred to in this Agreement as the "Closing Date." The Closing, and all
transactions to occur at the Closing, shall be deemed to have taken place at,
and shall be effective as of, the close of business on the Closing Date.

     Section 2.05. DELIVERIES BY THE SHAREHOLDERS AND GOLDCOAST. On or prior to
the Closing, the Shareholders and Goldcoast, as applicable, shall deliver to
Buyer the following:

          (a) a copy of this Agreement, duly and validly executed by each
     Shareholder and an authorized officer of Goldcoast;

          (b) a copy of the Escrow Agreement, duly and validly executed by an
     authorized officer of Goldcoast;

          (c) a copy of the Assignment of Partnership Interests assigning the
     Partnership Interests owned by Goldcoast in the form attached hereto as
     Exhibit B;

          (d) a certificate, dated as of the Closing Date, executed on behalf of
     Goldcoast by Goldcoast's Secretary and Chief Executive Officer in the form
     attached hereto as Exhibit C;

          (e) evidence, in form satisfactory to Buyer, that all consents
     required by Section 3.04, if any, have been obtained;

          (f) a copy of the mutual release, whereby Goldcoast, Concorde and
     Bayfront agree to release each other from amounts payable to each other as
     set forth therein, duly and validly executed by an authorized officer of
     Goldcoast, in the form attached hereto as Exhibit D (the "Release"); and

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          (g) a copy of the consulting agreement between Buyer and Michael A.
     Hlavsa, duly and validly executed by Mr. Hlavsa.

     Section 2.06. DELIVERIES BY BUYER. On or prior to Closing, the Buyer shall
deliver or cause to be delivered to Goldcoast, the Shareholders or the Escrow
Agent, as the case may be, the following:

          (a) a copy of this Agreement, duly and validly executed by an
     authorized officer of Buyer;

          (b) a certificate, dated as of the Closing Date, executed on behalf of
     Buyer, by Buyer's Chairman of the Board and Chief Executive Officer in the
     form attached hereto as Exhibit E;

          (c) a copy of the Escrow Agreement, duly and validly executed by an
     authorized officer of Buyer;

          (d) the Purchase Price;

          (e) a copy of the Release duly and validly executed by an authorized
     officer of Concorde; and

          (f) a copy of the Consulting Agreement duly and validly executed by an
     authorized officer of Buyer and delivered to Mr. Hlavsa.

     Section 2.07. ALLOCATION OF PURCHASE PRICE. The Parties agree that the
Purchase Price shall be allocated 100% to the Partnership Interests and that
such allocation will be used by the Parties in reporting the transactions
contemplated hereby for federal, state, county and local tax purposes.

     Section 2.08. FURTHER ASSURANCES. At any time and from time to time after
the Closing Date, at the request of Buyer and without further consideration,
Goldcoast or its officers will execute and deliver such other instruments of
sale, transfer, conveyance, assignment and confirmation as may be reasonably
requested in order to more effectively transfer, convey and assign to the
applicable Buyer and to confirm such Buyer's title to the Partnership Interests.
Subject to the terms and conditions hereof, each Party hereto shall use its
reasonable best efforts to take all action required of it to fulfill its
obligations under the terms of this Agreement and to facilitate the consummation
of the transactions contemplated hereby.

                                  ARTICLE III

        REPRESENTATIONS AND WARRANTIES BY GOLDCOAST AND THE SHAREHOLDERS

     Goldcoast and the Shareholders, jointly and severally, represent and
warrant to Buyer as of the date of this Agreement, as follows:

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     Section 3.01. DUE INCORPORATION. Goldcoast is duly organized, validly
existing and in good standing under the laws of the state of its organization,
with all requisite power and authority to own, lease and operate its properties
and to carry on its business as they are now being owned, leased, operated and
conducted.

     Section 3.02. NO SUBSIDIARIES. Goldcoast has no direct or indirect
Subsidiaries, either wholly or partially owned, and Goldcoast does not hold any
direct or indirect economic, voting or management interest in any Person or
directly or indirectly own any security issued by any Person.

     Section 3.03. DUE AUTHORIZATION. Goldcoast has full power and authority to
enter into this Agreement and the other Related Agreements to which it is a
party and to consummate the transactions contemplated hereby and thereby. This
Agreement and the Related Agreements to which it is a party, have been duly
authorized and approved by all necessary corporate action on the part of
Goldcoast. Goldcoast has duly and validly executed and delivered this Agreement
and the other Related Agreements to which it is a party. This Agreement and each
Related Agreement to which Goldcoast is a party constitutes the legal, valid and
binding obligation of Goldcoast enforceable in accordance with their respective
terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, moratorium, reorganization or similar laws in effect that affect the
enforcement of creditors' rights generally and by equitable limitations on the
availability of specific remedies.

     Section 3.04. CONSENTS AND APPROVALS; AUTHORITY RELATIVE TO THIS AGREEMENT.

          (a) Except as set forth on Schedule 3.04(a), no consent, authorization
     or approval of, filing or registration with, or cooperation from, any
     Governmental Authority or any other Person not a party to this Agreement is
     necessary in connection with the execution, delivery and performance by
     Goldcoast of this Agreement, the Related Agreements to which Goldcoast is a
     party or the consummation of the transactions contemplated hereby or
     thereby.

          (b) The execution, delivery and performance by Goldcoast of this
     Agreement and the Related Agreements to which Goldcoast is a party does not
     and will not, and the consummation of the transactions contemplated hereby
     and thereby does not and will not, (i) violate any Law; (ii) violate or
     conflict with, result in a breach or termination of, constitute a default
     or give any third party any additional right (including any right of
     termination or acceleration or right of acceleration) under, permit
     cancellation of, result in the creation of any Lien upon any of the assets
     or properties of Goldcoast under, or result in or constitute a circumstance
     which, with or without notice or lapse of time or both, would constitute
     any of the foregoing under, any Contract to which Goldcoast is a party or
     by which Goldcoast or any of its assets or properties are bound; (iii)
     permit the acceleration of the maturity of any indebtedness of Goldcoast or
     indebtedness secured by its assets or properties; or (iv) violate or
     conflict with any provision of the articles of incorporation and bylaws of
     Goldcoast.

     Section 3.05. TITLE TO PARTNERSHIP INTERESTS. Except as set forth on
Schedule 3.05, Goldcoast (i) owns all right, title and interest to the
Partnership Interests in the Companies, free

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and clear of any Lien, restriction on sale or transfer (other than restrictions
imposed by applicable securities laws), preemptive right, limitations on voting
rights or option or requirement to make any capital contributions that have not
previously been made and (ii) has the authority to dispose of such Partnership
Interests to Buyer pursuant to this Agreement.

     Section 3.06. FINANCIAL STATEMENTS; UNDISCLOSED LIABILITIES; OTHER
DOCUMENTS.

          (a) To Goldcoast's Knowledge, the Financial Statements of the
     Companies have been prepared in accordance with generally accepted
     accounting principles consistently applied ("GAAP"), subject to any
     qualifications set forth in the applicable notes and schedules, present
     fairly the financial condition of each Company as of such dates and the
     results of operations of each Company for such periods, include all
     adjustments that are necessary for a fair presentation of the information
     shown, are correct and complete in all material respects, and are
     consistent with the books and records of each Company (which books and
     records are true and complete in all material respects). The Financial
     Statements of the Companies reflect reserves appropriate and adequate for
     all known liabilities and reasonably anticipated losses as required by GAAP
     (including appropriate and adequate reserves for inventory, bad debt and
     accrued liabilities). Goldcoast has disclosed to Buyer all material facts
     relating to the preparation of the Financial Statements.

          (b) Except as set forth on Schedule 3.06 or in the balance sheet dated
     as of February 29, 2000 (the "Balance Sheet Date") for each Company, to
     Goldcoast's Knowledge, the Companies have no liabilities, debts, claims or
     obligations, whether accrued, absolute, contingent or otherwise, whether
     due or to become due, other than trade payables and accrued expenses
     incurred in the ordinary course of business since the Balance Sheet Date.
     Except as set forth on Schedule 3.06, the Companies have no liabilities not
     directly related to, and that did not arise directly out of, the business
     of the Companies.

     Section 3.07. MANAGEMENT OF BAYFRONT AND PRINCESA. (a) Except as set forth
on Schedule 3.07, Goldcoast, in its capacity as a general partner and/or manager
of the Companies, has conducted the business of the Companies in the ordinary
course consistent with past practices and in accordance with the terms of the
Joint Venture Agreements, and to Goldcoast's Knowledge, since the date of the
Financial Statements, there has not been any Material Adverse Effect and there
is no condition or development or contingency of any kind existing that could
reasonably be expected to result in a Material Adverse Effect on the Companies.

     Section 3.08. CONTRACTS.

          (a) Each of the Contracts to which either of the Companies is a party
     were entered into in accordance with the terms and provisions of the Joint
     Venture Agreement (the "Company Contracts").

          (b) Except as set forth on Schedule 3.08(b), each Company Contract is
     valid and in full force and effect, and is enforceable by each applicable
     Company in

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     accordance with its material terms, except as enforceability may be limited
     by bankruptcy and other similar laws and general principles of equity.

          (c) Except as set forth on Schedule 3.08(c), neither the Companies
     nor, to the Knowledge of Goldcoast and the Shareholders, any party to a
     Company Contract is in default under any Company Contract. To the Knowledge
     of Goldcoast and the Shareholders, no event has occurred, and no
     circumstance or condition exists, that likely would (with or without notice
     or lapse of time) (A) result in a violation or breach of any of the
     provisions of any Company Contract, (B) give any Person the right to
     declare a default or exercise any remedy or hinder any Company Contract,
     (C) give any Person the right to accelerate the maturity or performance of
     any Company Contract, or (D) give any Person the right to cancel, terminate
     or modify any Company Contract.

          (d) Except as set forth on Schedule 3.08(d), the Company has not
     received from any party to any Company Contract notification of a claim to
     the effect that either Company has failed to perform a material obligation
     thereunder. In addition, to the Knowledge of Goldcoast and the
     Shareholders, there is no plan, intention or indication of any contracting
     party to any Company Contract to cause the termination, cancellation or
     modification of such Contract or to reduce or otherwise change its activity
     thereunder so as to adversely affect the benefits derived or expected to be
     derived therefrom by the Companies.

          (e) The Company Contracts collectively constitute all of the Contracts
     necessary to enable the Companies to conduct their respective business in
     the manner in which such business is currently being conducted. Goldcoast
     has made available to Buyer a copy of each Company Contract.

     Section 3.09. LITIGATION. Except as set forth on Schedule 3.09, there are
no claims, actions, suits, arbitrations, grievances, proceedings or
investigations pending or, to the Knowledge of Goldcoast or any Shareholder,
threatened against the Companies, Goldcoast or any Shareholder, at law, in
equity or before any Governmental Authority involving the Companies, the
Partnership Interests or the transactions contemplated by this Agreement and any
Related Agreements.

     Section 3.10. ACCURACY OF STATEMENTS. Neither this Agreement nor any
schedule, statement, list, document, certificate or other information furnished
or to be furnished by or on behalf of Goldcoast or the Shareholders to Buyer or
any representative or Affiliate of Buyer in connection with this Agreement, the
Related Agreements or any of the transactions contemplated hereby or thereby
contains or will contain any untrue statement of a material fact or omits or
will omit to state a material fact necessary to make the statements contained
herein or therein, in light of the circumstances in which they are made, not
misleading.

                                       10
<PAGE>   14

                                   ARTICLE IV

               REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDERS

     Each Shareholder, severally, represents and warrants to Buyer, as of the
date of this Agreement, as follows:

     Section 4.01. SHAREHOLDERS' POWER AND AUTHORITY. The Shareholders have
legal capacity to execute, deliver and perform this Agreement and the other
Related Agreements to which the Shareholders are a party. This Agreement and
each of the Related Agreements to which the Shareholders are a party have been
duly executed and delivered by each Shareholder, constitutes a legal, valid and
binding obligation of such Shareholders, enforceable against each Shareholder in
accordance with its terms, except as enforcement thereof may be limited by
liquidation, conservatorship, bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting the enforcement of creditors' rights generally from
time to time in effect and except that equitable remedies are subject to
judicial discretion.

     Section 4.02. OWNERSHIP OF GOLDCOAST. The Shareholders, collectively, own
100% of the issued and outstanding capital stock of Goldcoast.

     Section 4.03. EFFECT OF AGREEMENT ON THE SHAREHOLDERS. Neither the
execution and delivery of this Agreement nor the Related Agreements to which the
Shareholders are a party nor the consummation of the transactions contemplated
hereby or thereby will: (i) result in the acceleration, breach or termination
of, or the creation in any party of the right to accelerate, terminate, modify,
cancel or require any notice under, any Contract or other obligation or
liability to which the Shareholders are a party or is bound or to which the
Shareholders' assets are subject, (ii) conflict with or violate any Law
applicable to the Shareholders by which any of their properties or assets are
bound or affected, or (iii) result in the creation of any Lien upon the
Partnership Interests or any assets, tangible or intangible, of the
Shareholders.

     Section 4.04. AGREEMENTS AMONG SHAREHOLDERS. There are no agreements,
written or oral, between Goldcoast and any Shareholder relating to the
acquisition (including without limitation rights of first refusal or pre-emptive
rights), disposition or otherwise of the Partnership Interests.

                                   ARTICLE V

                     REPRESENTATIONS AND WARRANTIES OF BUYER

     Each Buyer represents and warrants to Goldcoast and the Shareholders, as of
the date of this Agreement, as follows:

     Section 5.01. DUE INCORPORATION. Buyer is a corporation duly organized,
validly existing and in good standing under the laws of its state of
organization, with all requisite power and authority to own, lease and operate
its properties and to carry on its business as they are now being owned, leased,
operated and conducted.

                                       11
<PAGE>   15

     Section 5.02. DUE AUTHORIZATION. Buyer has full power and authority to
enter into this Agreement and the Related Agreements to which Buyer is a party
and to consummate the transactions contemplated hereby and thereby. This
Agreement and the Related Agreements to which it is a party, have been duly
authorized and approved by all necessary corporate action on the part of Buyer.
Buyer has duly and validly executed and delivered this Agreement and the other
Related Agreements to which it is a party. This Agreement and each Related
Agreement to which Buyer is a party constitutes the legal, valid and binding
obligation of Buyer enforceable in accordance with their respective terms,
except as such enforceability may be limited by applicable bankruptcy,
insolvency, moratorium, reorganization or similar laws in effect which affect
the enforcement of creditors' rights generally and by equitable limitations on
the availability of specific remedies.

     Section 5.03. CONSENTS AND APPROVALS; AUTHORITY RELATIVE TO THIS AGREEMENT.

          (a) Except as set forth on Schedule 5.03, no consent, authorization or
     approval of, filing or registration with, or cooperation from, any
     Governmental Authority or any other Person not a party to this Agreement is
     necessary in connection with the execution, delivery and performance by
     Buyer of this Agreement and the Related Agreements to which Buyer is a
     party and the consummation of the transactions contemplated hereby and
     thereby.

          (b) The execution, delivery and performance by Buyer of this Agreement
     and the Related Agreements to which Buyer is a party do not and will not,
     and the consummation of the transactions contemplated hereby and thereby
     does not and will not, (i) violate any Law, or (ii) violate or conflict
     with any provision of the articles of incorporation, bylaws or similar
     organizational instruments of Buyer.

     Section 5.04. LITIGATION. Except as set forth on Schedule 5.04, there are
no claims, actions, suits, arbitrations, grievances, proceedings or
investigations pending or, to the Knowledge of Buyer, threatened against Buyer,
at law, in equity or before any Governmental Authority involving Buyer or the
transactions contemplated by this Agreement and any Related Agreements.

     Section 5.05. ACCURACY OF STATEMENTS. Neither this Agreement nor any
schedule, statement, list, document, certificate or other information furnished
or to be furnished by or on behalf of Buyer to Goldcoast or the Shareholders or
any representative or Affiliate of Goldcoast or the Shareholders in connection
with this Agreement, the Related Agreements or any of the transactions
contemplated hereby or thereby contains or will contain any untrue statement of
a material fact or omits or will omit to state a material fact necessary to make
the statements contained herein or therein, in light of the circumstances in
which they are made, not misleading.

                                   ARTICLE VI

                        TAX REPRESENTATIONS AND COVENANTS

     Section 6.01. TAX REPRESENTATIONS. Goldcoast and each Shareholder, jointly
and severally, represents and warrants to Buyer as of the date hereof, that to
the Knowledge of

                                       12
<PAGE>   16

Goldcoast and the Shareholders, all materials and information provided by
Goldcoast regarding returns required to be filed by or on behalf of the
Companies on or before the Closing Date have been (or will be) provided on a
timely basis and such materials are (or will be) true, complete and correct.

                                  ARTICLE VII

                      ADDITIONAL AGREEMENTS OF THE PARTIES

     Section 7.01. PUBLIC ANNOUNCEMENTS. Each of the Parties acknowledges the
importance of appropriate disclosures in positioning the relationship between
the two companies to the distribution channel, the press, customers and others.
Goldcoast and the Shareholders agree to make no press releases or other public
announcements regarding this Agreement without Buyer's prior written consent.

     Section 7.02. CONFIDENTIALITY. Goldcoast and the Shareholders will treat
and hold as such all Confidential Information, refrain from using any of the
Confidential Information except in connection with this Agreement, and deliver
promptly to Buyer or destroy, at the request and option of Buyer, all tangible
embodiments (and all copies) of the Confidential Information that are in its or
his possession. In the event that Goldcoast or any Shareholder is requested or
required (by oral question or request for information or documents in any legal
proceeding, interrogatory, subpoena, civil investigative demand, or similar
process) to disclose any Confidential Information, that Party will promptly
notify the Buyer of the request or requirement so that the Buyer may seek an
appropriate protective order or waive compliance with the provisions of this
Section 7.02. If, in the absence of a protective order or the receipt of a
waiver hereunder, Goldcoast or the Shareholders are, on the advice of counsel,
compelled to disclose any Confidential Information to any tribunal or else stand
liable for contempt, that Party may disclose the Confidential Information to the
tribunal; provided, however, that the disclosing Party shall use best efforts to
obtain, at the request of the Buyer, an order or other assurance that
confidential treatment will be accorded to such portion of the Confidential
Information required to be disclosed as the Buyer shall designate.

     Section 7.03. PERSONAL GUARANTEES. Buyer will use its reasonable efforts to
assist the Shareholders in releasing the personal guarantees of each Shareholder
for contracts or obligations arising from or relating to the business of the
Companies. In the event that the Buyer cannot secure the release of the Personal
Guarantees, Buyer shall indemnify and hold harmless each Shareholder from any
and all damage, loss, liability and expense (including without limitation
reasonable expenses of investigation and reasonable attorneys' fees and expenses
in connection with any action, suit or proceeding) incurred or suffered by
either Shareholder arising out of the Personal Guarantees.

                                  ARTICLE VIII

                                 INDEMNIFICATION

     Section 8.01. SURVIVAL. The covenants, agreements, representations and
warranties of the Parties contained in this Agreement or in any certificate or
other writing delivered pursuant

                                       13
<PAGE>   17

hereto or in connection herewith shall survive the Closing (i) until the first
anniversary of the Closing Date, except in the case of fraud, in which case such
representations and warranties shall survive indefinitely, and (ii) the
representations and warranties contained in Section 3.05 and the covenants
contained in Section 7.02 shall survive indefinitely. Notwithstanding the
preceding sentence, any covenant, agreement, representation or warranty in
respect of which indemnity may be sought under this Agreement shall survive the
time at which it would otherwise terminate pursuant to the preceding sentence,
if notice of the inaccuracy or breach thereof giving rise to such right of
indemnity shall have been given to the Party against whom such indemnity may be
sought prior to such time.

     Section 8.02. INDEMNIFICATION OBLIGATIONS.

          (a) Indemnification by Goldcoast and the Shareholders. Goldcoast and
     the Shareholders shall indemnify, defend and hold harmless Buyer and its
     Affiliates (the "Indemnification Obligation") from, against and in respect
     of any and all Losses resulting from, relating to or arising out of:

               (i) any misrepresentation, inaccuracy in or breach of
          representations or warranties contained in this Agreement or any
          Related Agreements;

               (ii) any failure to perform, satisfy or observe or the
          non-fulfillment of any agreement or covenant on the part of Goldcoast
          or the Shareholders contained in this Agreement or any Related
          Agreements; and

               (iii) any claim, action, suit, arbitration, grievance, proceeding
          or investigation brought by third party involving Goldcoast as a
          general partner of either of the Companies for any period of time on
          or prior to closing;

provided, however, the maximum indemnification obligation of Goldcoast and the
Shareholders to Buyer shall not exceed an aggregate of $300,000; provided,
further that nothing contained in this Section 8.02(a) shall be deemed to limit
or restrict in any manner (whether by time, amount, procedure or otherwise) any
remedy at law or in equity to which Buyer may be entitled as a result of actual
fraud by the Shareholders or Goldcoast.

          (b) Indemnification by Buyer. Buyer shall indemnify, defend and hold
     harmless Goldcoast from, against and in respect of any and all Losses
     resulting from, relating to or arising out of:

               (i) any misrepresentation, inaccuracy in or breach of
          representations and warranties contained in this Agreement or any
          Related Agreement; and

               (ii) any failure to perform, satisfy, or observe or the
          non-fulfillment of any agreement or covenant on the part of Buyer
          contained in this Agreement or any Related Agreement.

     Section 8.03. METHOD OF ASSERTING CLAIMS, ETC. All claims for
indemnification under this Article VIII shall be asserted and resolved as
follows:

                                       14
<PAGE>   18

          (a) In the event that any claim or demand for which an Indemnifying
     Person would be liable to an Indemnified Person hereunder is asserted
     against or sought to be collected by a third party, the Indemnified Person
     shall:

               (i) promptly notify the Indemnifying Person of such claim or
          demand, specifying the nature of such claim or demand and the amount
          or the estimated amount thereof to the extent then feasible (which
          estimate shall not be conclusive of the final amount of such claim or
          demand) (the "Claim Notice"); provided, however, that the failure of
          an Indemnified Person to give notice as provided herein shall not
          relieve an Indemnifying Person of its obligations under this Article
          VIII, except to the extent the Indemnifying Person is prejudiced
          thereby;

               (ii) an Indemnifying Person shall have 15 calendar days from
          their receipt of the Claim Notice (the "Notice Period") to notify the
          Indemnified Person (x) whether or not the Indemnifying Person disputes
          its liability to the Indemnified Person hereunder with respect to such
          claim or demand, and (y) if they do not dispute such liability,
          whether or not they desire, at their sole cost and expense, to defend
          the Indemnified Person against such claim or demand; provided,
          however, that the Indemnified Person is hereby authorized prior to and
          during the Notice Period to file any motion, answer or other pleading
          which it shall deem necessary or appropriate to protect its interests;

               (iii) in the event that the Indemnifying Person notifies the
          Indemnified Person within the Notice Period that the Indemnifying
          Person does not dispute such liability and desires to defend against
          such claim or demand, then except as hereinafter provided, the
          Indemnifying Person shall have the right to defend by appropriate
          proceedings, which proceedings shall be promptly settled or prosecuted
          to a final conclusion in such a manner as to avoid any risk of the
          Indemnified Person becoming subject to liability for any other matter;

               (iv) if the Indemnified Person desires to participate in, but not
          control, any such defense or settlement it may do so at its sole cost
          and expense; provided, however, that the Indemnifying Person shall pay
          such expense if representation of the Indemnified Person by the
          counsel retained by the Indemnifying Person would be inappropriate due
          to actual or potential differing interests between the Indemnified
          Person and any other party represented by such counsel in such
          proceeding;

               (v) if, in the reasonable opinion of the Indemnified Person, any
          such claim or demand involves an issue or matter which could have a
          Material Adverse Effect on the business, operations, assets,
          properties or prospects of the Indemnified Person, or Affiliate of the
          Indemnified Person, the Indemnified Person shall have the right to
          control the defense or settlement of any such claim or demand, and its
          reasonable costs and expenses thereof shall be included as part of the
          Indemnification Obligations of the Indemnified Person hereunder and,
          with respect to subsections (iv) and (v) the Indemnifying Person shall
          make available

                                       15
<PAGE>   19

          to the Indemnified Person any documents and materials in his or her
          possession or control that may be necessary or useful to such defense;
          and/or

               (vi) if the Indemnifying Person disputes the Indemnifying
          Person's liability with respect to such claim or demand or elects not
          to defend against such claim or demand, whether by not giving timely
          notice as provided above or otherwise, then the amount of any such
          claim or demand, or, if the same be contested by the Indemnifying
          Person or by the Indemnified Person (but the Indemnified Person shall
          not have any obligation to contest any such claim or demand), then
          that portion thereof as to which such defense is unsuccessful, shall
          be conclusively deemed to be a liability of the Indemnifying Person
          hereunder (subject, if the Indemnifying Person has timely disputed
          liability, to a determination that the disputed liability is covered
          by these indemnification provisions).

          (b) In the event the Indemnified Person should have a claim against
     the Indemnifying Person hereunder which does not involve a claim or demand
     being asserted against or sought to be collected from it by a third party,
     the Indemnified Person shall promptly send a Claim Notice with respect to
     such claim to the Indemnifying Person. If the Indemnifying Person does not
     notify the Indemnified Person within the Notice Period that they dispute
     such claim, the amount of such claim shall be conclusively deemed a
     liability of the Indemnifying Person hereunder.

          (c) Nothing herein shall be deemed to prevent any Indemnified Person
     from making a claim hereunder for potential or contingent claims or demands
     provided the Claim Notice sets forth the specific basis for any such
     potential or contingent claim or demand and the estimated amount thereof to
     the extent then feasible and the Indemnified Person has reasonable grounds
     to believe that such a claim or demand will be made.

          (d) As used herein, a "Final Determination" of a disputed claim shall
     mean (i) as to third party claims, a judgment of any court determining the
     validity of a disputed claim, if no appeal is pending from such judgment or
     if the time to appeal therefrom has elapsed; (ii) as between Goldcoast, any
     Shareholder and/or the Buyer an award of any arbitration determining the
     validity of such disputed claim; (iii) a written agreement as to the
     termination of the dispute with respect to such claim signed by all of the
     Parties thereto or their attorneys; (iv) a written acknowledgement of the
     Indemnifying Person that he or it no longer disputes the validity of such
     claim; or (v) such other evidence of final determination of a disputed
     claim as shall be acceptable to the Parties.

     Section 8.04. ARBITRATION. All disputes under this Article VIII and all
other controversies or claims arising out of or relating to this Agreement, or
the breach thereof, not subject to a third party claim, shall be settled by
arbitration in accordance with the Commercial Arbitration Rules of the American
Arbitration Association in Denver, Colorado if Goldcoast or the Shareholders
request such arbitration or in Miami, Florida if Buyer requests such
arbitration. One arbitrator shall be selected by the Indemnifying Persons or
Parties, one arbitrator shall be selected by the Indemnified Person, and the
third arbitrator shall be chosen by the first two arbitrators chosen. The cost
and expense of arbitration shall be shared equally by the Parties to

                                       16
<PAGE>   20

the arbitration, regardless of which Party or Parties prevail. The arbitration
shall be conducted in accordance with the following time schedule unless
otherwise mutually agreed to in writing by the Parties: (i) Parties to the
arbitration proceeding shall each appoint their respective arbitrator within 15
Business Days after the end of the Notice Period; (ii) within five Business Days
thereafter, such arbitrators shall appoint the third arbitrator; (iii) within 10
Business Days after the appointment of the third arbitrator, Parties to the
arbitration proceeding shall provide all documents, records and supporting
information reasonably necessary to resolve the dispute; and (iv) within 15
Business Days after the date the above records are due, the arbitrators shall
render their decision. The decision or award of the arbitrators shall be final
and binding upon the Parties hereto to the same extent and to the same degree as
if the matter had been adjudicated by a court of competent jurisdiction and
shall be enforceable under the Federal Arbitration Act.

     Section 8.05. PAYMENT.

          (a) As partial security for the Indemnification Obligations of the
     Shareholders to Buyer set forth in Section 8.02(a), the Indemnity Amount
     shall be deposited into the Indemnity Escrow in accordance with Section
     2.03 hereof and the terms of the Escrow Agreement. In the event that any
     amounts are due and owing to Buyer under the indemnification provisions of
     this Article VIII, Buyer shall be entitled to offset such amounts against
     the Indemnity Amount pursuant to the terms and provisions of the Escrow
     Agreement. If the Indemnity Amount is insufficient, the Buyer may, in its
     sole discretion, seek payment for such amount directly from Goldcoast or
     the Shareholders, as the case may be.

          (b) Except as set forth in Section 8.05(a), in the event that any
     Party is required to make any payment under this Article VIII, such Party
     shall promptly pay the Indemnified Person the amount so determined. If
     there should be a dispute as to the amount or manner of determination of
     any indemnity obligation owed under this Article VIII, the Party from which
     indemnification is due shall nevertheless pay when due such portion, if
     any, of the obligation as shall not be subject to dispute. The difference,
     if any, between the amount of the obligation ultimately determined as
     properly payable under this Article VIII and the portion, if any,
     theretofore paid shall bear interest as provided in Section 8.05(d). Upon
     the payment in full of any claim, either by setoff or otherwise, the Party
     or Person making payment shall be subrogated to the rights of the
     Indemnified Person against any Person with respect to the subject matter of
     such claim.

          (c) The foregoing indemnification provisions are in addition to, and
     not in derogation of, any statutory or common law remedy any Party may have
     for breach of representation, warranty, or covenant.

          (d) If all or part of any Indemnification Obligation under this
     Agreement is not paid when due, then the Indemnifying Person or parties
     shall pay the Indemnified Person or parties interest on the unpaid amount
     of the obligation for each day from the date the amount became due until
     payment in full, payable on demand, at the "prime rate" set forth in The
     Wall Street Journal on the date the payment was due.

                                       17
<PAGE>   21

     Section 8.06. EQUITABLE RELIEF. In the event of a breach or threatened
breach by any Shareholder of Section 7.02 hereof, each Shareholder hereby
consents and agrees that Buyer shall be entitled to an injunction or similar
equitable relief restraining the breaching party from committing or continuing
any such breach or threatened breach or granting specific performance of any act
required to be performed by such Shareholders under any such provision, without
the necessity of showing any actual damage or that money damages would not
afford an adequate remedy and without the necessity of posting any bond or other
security. Nothing herein shall be construed as prohibiting Buyer, Goldcoast or
the Shareholders from pursuing any other remedies at law or in equity which it
may have.

                                   ARTICLE IX

                                  MISCELLANEOUS

     Section 9.01. EXPENSES. Goldcoast shall pay all expenses of the
Shareholders and Goldcoast (including attorneys' fees and expenses) and Buyer
shall pay all expenses of Buyer (including attorneys' fees and expenses), in
each case incurred in connection with this Agreement and the transactions
contemplated hereby. Goldcoast shall pay all sales, use, stamp, transfer,
service, recording, real estate and like taxes or fees, if any, imposed by any
Governmental Authority in connection with the transfer and assignment of the
Partnership Interests.

     Section 9.02. AMENDMENT. This Agreement may be amended, modified or
supplemented but only in writing signed by the Parties.

     Section 9.03. NOTICES. Any notice, request, instruction or other document
to be given hereunder by a Party hereto shall be in writing and shall be deemed
to have been given, (a) when received if given in person or by courier or a
courier service, (b) on the date of transmission if sent by facsimile or other
wire transmission, or (c) four Business Days after being deposited in the U.S.
or Canadian mail, certified or registered mail, postage prepaid:

          (a) If to David Grossman, addressed as follows:

              1429 Capri Lane, #5113
              Weston, Florida 33326
              Attention: David Grossman
              Telephone No.: (954)385-1003
              Facsimile No.: (954)385-1004

          with a copy to:

              Haley, Sinagra & Perez, P.A.
              100 South Biscayne Blvd., Suite 800
              Miami, Florida 33131
              Attention: Al Perez, Esq.
              Telephone No.: (305)374-1300
              Facsimile No.: (305)358-8305

                                       18
<PAGE>   22

          (b) If to Michael Hlavsa, addressed as follows:

              Michael Hlavsa
              2221 SW 131 Terrace
              Davie, Florida 33325
              Telephone No.: (954) 476-4300

          with a copy to:

              Cohen, Berke, Bernstein, Brodie & Kondell, P.A.
              2601 South Bayshore Drive, 19th Floor
              Miami, Florida 33133
              Attention: Richard Bernstein, Esq.
              Telephone No.: (305)854-5900
              Facsimile No.: (305)857-0857

          (c) If to Goldcoast, addressed as follows:

              Goldcoast Entertainment Cruises, Inc.
              100 S. Biscayne Blvd., Suite 850
              Miami, Florida 33132
              Attention: Michael Hlavsa
              Telephone No.: (305)379-4422
              Facsimile No.: (305)379-5522

          (d) If to Buyer, addressed as follows:

              Concorde Cruises, Inc.
              c/o Concorde Gaming Corporation
              3290 Lien Street
              Rapid City, South Dakota 57702
              Attention: Jerry L. Baum, President
              Telephone No.: (605)341-7738
              Facsimile No.: (605)342-0247

          with a copy to:

              Morrison & Foerster LLP
              5200 Republic Plaza
              370 17th Street
              Denver, Colorado 80202
              Attention: Warren L Troupe, Esq.
              Telephone No.: (303)592-1500
              Facsimile No.: (303)592-1510

or to such other individual or address as a Party hereto may designate for
itself by notice given as herein provided.

                                       19
<PAGE>   23

     Section 9.04. WAIVERS. The failure of a Party hereto at any time or times
to require performance of any provision hereof shall in no manner affect its
right at a later time to enforce the same. No waiver by a Party of any condition
or of any breach of any term, covenant, representation or warranty contained in
this Agreement shall be effective unless in writing, and no waiver in any one or
more instances shall be deemed to be a further or continuing waiver of any such
condition or breach in other instances or a waiver of any other condition or
breach of any other term, covenant, representation or warranty.

     Section 9.05. COUNTERPARTS. This Agreement may be executed in one or more
counterparts, and by different Parties hereto in separate counterparts, each of
which when so executed shall be deemed an original, but all of which together
shall constitute one and the same instrument. Signatures on the Agreement may be
communicated by facsimile transmission and shall be binding upon the Party
transmitting the same by facsimile transmission.

     Section 9.06. INTERPRETATION. The headings preceding the text of Articles
and Sections included in this Agreement and the headings to Schedules attached
to this Agreement are for convenience only and shall not be deemed part of this
Agreement or be given any effect in interpreting this Agreement. The use of the
masculine, feminine or neuter gender herein shall not limit any provision of
this Agreement. The use of the terms "including" or "include" shall in all cases
herein mean "including, without limitation" or "include, without limitation,"
respectively. References to Articles, Sections, Subsections or Schedules shall
refer to those portions of this Agreement. Consummation of the transactions
contemplated herein shall not be deemed a waiver of a breach of or inaccuracy in
any representation, warranty or covenant or of any Party's rights and remedies
with regard thereto. No specific representation, warranty or covenant contained
herein shall limit the generality or applicability of a more general
representation, warranty or covenant contained herein. A breach of or inaccuracy
in any representation, warranty or covenant shall not be affected by the fact
that any more general or less general representation, warranty or covenant was
not also breached or inaccurate.

     Section 9.07. APPLICABLE LAW. This Agreement shall be governed by and
construed and enforced in accordance with the internal laws of the State of
Florida without giving effect to the principles of conflicts of law thereof.

     Section 9.08. ASSIGNMENT. This Agreement shall be binding upon and inure to
the benefit of the Parties hereto and their respective estates, heirs, legal
representatives, successors and assigns; provided, however, that no assignment
of any rights or obligations shall be made by any Party hereto without the
written consent of each other Party hereto, except that Buyer may assign its
rights hereunder, but not its obligations, without such consent to any Affiliate
of Buyer.

     Section 9.09. NO THIRD-PARTY BENEFICIARIES. This Agreement is solely for
the benefit of the Parties hereto and, to the extent provided herein, their
respective estates, heirs, successors, Affiliates, directors, officers,
employees, agents and representatives, and no provision of this Agreement shall
be deemed to confer upon other third parties any remedy, claim, liability,
reimbursement, cause of action or other right.

     Section 9.10. SEVERABILITY. If any provision of this Agreement shall be
held invalid, illegal or unenforceable, the validity, legality or enforceability
of the other provisions hereof

                                       20
<PAGE>   24

shall not be affected thereby, and there shall be deemed substituted for the
provision at issue a valid, legal and enforceable provision as similar as
possible to the provision at issue.

     Section 9.11. REMEDIES CUMULATIVE. Unless otherwise specified, the remedies
provided in this Agreement shall be cumulative and shall not preclude the
assertion or exercise of any other rights or remedies available by law, in
equity or otherwise.

     Section 9.12. ENTIRE UNDERSTANDING. This Agreement, together with all
Exhibits and Schedules referenced herein, and the Related Agreements set forth
the entire agreement and understanding of the Parties hereto and supersede any
and all prior agreements, arrangements and understandings among the Parties.

                                       21
<PAGE>   25
     IN WITNESS WHEREOF, the Parties hereto have executed and delivered or
caused this Agreement to be executed and delivered by their authorized
representatives as of the date first above written.

                                     BUYER:

                                     CONCORDE CRUISES, INC.

                                     By: /s/ JERRY L. BAUM
                                        ----------------------------------------
                                     Name:   Jerry L. Baum
                                     Title:  President

                                     GOLDCOAST:

                                     GOLDCOAST ENTERTAINMENT CRUISES,
                                     INC.

                                     By: /s/ MICHAEL A. HLAVSA
                                        ----------------------------------------
                                     Name:   Michael A. Hlavsa
                                     Title:  President

                                     SHAREHOLDERS:

                                     /s/ MICHAEL A. HLAVSA
                                     -------------------------------------------
                                     Michael A. Hlavsa

                                     /s/ DAVID GROSSMAN
                                     -------------------------------------------
                                     David Grossman

                                       22
<PAGE>   26

                                    EXHIBIT A

                                ESCROW AGREEMENT

                                       A-1
<PAGE>   27

                                    EXHIBIT B

                   FORM OF ASSIGNMENT OF PARTNERSHIP INTERESTS

                                       B-1
<PAGE>   28

                                    EXHIBIT C

                    FORM OF GOLDCOAST'S OFFICERS CERTIFICATE

                                       C-1
<PAGE>   29

                                    EXHIBIT D

                             FORM OF MUTUAL RELEASE

                                       D-1
<PAGE>   30

                                    EXHIBIT E

                      FORM OF BUYER'S OFFICERS CERTIFICATE

                                       E-1<PAGE>   1
                                                                    EXHIBIT 10.2

                                ESCROW AGREEMENT

     This Escrow Agreement (this "Escrow Agreement") dated March 31, 2000
("Effective Date") is entered into by and among Concorde Cruises, Inc., a South
Dakota corporation ("Buyer"), Goldcoast Entertainment Cruises, Inc., a Florida
corporation ("Goldcoast"), and National City Bank of Evansville, as escrow agent
(the "Escrow Agent").

                                    RECITALS

     A. Buyer, Goldcoast and Michael A. Hlavsa and David Grossman (collectively,
the "Shareholders") have entered into that certain Partnership Interest Purchase
Agreement dated March 31, 2000 (the "Purchase Agreement") attached hereto as
Exhibit A, whereby Buyer shall purchase Goldcoast's interest in Bayfront
Ventures, a Florida general partnership, and Princesa Partners, a Florida
general partnership (collectively, the "Partnerships").

     B. The Purchase Agreement provides for Goldcoast and the Shareholders to
indemnify Buyer for certain expenses and liabilities in accordance with the
terms and provisions contained in Article VIII of the Purchase Agreement.

     C. The Purchase Agreement requires that Buyer deposit with the Escrow Agent
the sum of $75,000 in cash (the "Indemnity Amount"), which shall be a fund
against which claims for indemnification against Goldcoast and the Shareholders
shall first be made.

     D. The Purchase Agreement also requires Buyer to deposit the sum of
$375,000 in cash (the "Holdback Amount" and together with the Indemnity Amount,
the "Escrow Amounts"), which amount shall be payable to Buyer in the event that
prior to the Legislative Session Expiration Date any rule, law, regulation or
statute is adopted or enacted by a federal, state, local or other governmental
or quasi-governmental entity, or any decision or proceeding by a court or other
tribunal is given, that (i) prohibits or has a material adverse affect on the
business of the Companies as such business is currently conducted as of the date
of the Purchase Agreement, or (ii) permits Class III gaming on Indian
reservations (the "Holdback Distribution Event").

     D. Capitalized terms used but not otherwise defined herein shall have the
meanings assigned to them in the Purchase Agreement.

     NOW, THEREFORE, in consideration of the premises set forth above and other
good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto agree as follows:

                                   ARTICLE I
                           APPOINTMENT OF ESCROW AGENT

     Section 1.01. APPOINTMENT OF ESCROW AGENT.

          (a) The Escrow Agent is hereby appointed escrow agent in accordance
     with the instructions set forth in this Escrow Agreement and National City
     Bank of Evansville hereby agrees to act as the Escrow Agent under this
     Escrow Agreement. The Escrow

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<PAGE>   2

     Agent shall have no duty to enforce any provision hereof requiring
     performance by any other party hereunder.

          (b) The Escrow Agent hereby acknowledges receipt of an escrow deposit
     as follows: (i) $75,000 for the Indemnity Amount; and (ii) $375,000 for the
     Holdback Amount.

          (c) The Escrow Agent shall not have any interest in the Escrow
     Amounts, but shall serve as escrow holder only and have only possession
     thereof. The Escrow Agent expressly waives any right to set off and
     appropriate any amounts under the Escrow Amounts.

          (d) The Escrow Agent shall establish two separate escrow accounts. One
     account shall be for the Indemnity Amount (the "Indemnity Escrow") and the
     second account shall be for the Holdback Amount (the "Holdback Escrow").

                                   ARTICLE II
                                       TAX

     Section 2.01. TAX WITHHOLDING AND REPORTING.

          (a) General. Any payments of income from the Escrow Amounts shall be
     subject to any withholding required with respect to Taxes. For federal,
     state and local income tax purposes, all interest earned on the Escrow
     Amounts shall be reportable to Goldcoast. The Escrow Agent shall file
     annually all information returns with the Internal Revenue Service and
     other governmental authorities documenting such interest income. As
     required by law, the parties hereto will provide Escrow Agent with
     appropriate Internal Revenue Service Forms W-9 for tax identification
     number certification, or non-resident alien, certifications.

          (b) Tax Treatment of Payments. Any indemnification payments or
     payments made in connection with a Holdback Distribution Event, whether
     from the Indemnity Escrow or Holdback Escrow, shall be treated as
     adjustments to the purchase price for all purposes.

                                  ARTICLE III
                                ESCROW PROCEDURE

     Section 3.01. CLAIM CERTIFICATES. Buyer, from time to time on or prior to
the first anniversary of the date of this Agreement (the "Termination Date"),
may make a claim for indemnification pursuant to Article VIII of the Purchase
Agreement, on behalf of itself or another indemnitee, for up to all of the
Indemnity Amount (a "Claim") by delivering to the Escrow Agent a certificate (a
"Claim Certificate") signed by an authorized officer of Buyer in substantially
the form of Exhibit B attached hereto; provided, however, that none of the
Indemnity Amount shall be distributed to Buyer by the Escrow Agent unless a
Final Determination has been made with respect to the Claim. If a Final
Determination has not been

                                       2
<PAGE>   3

made with respect to the Claim, the Claim Certificate shall include the
following additional information:

          (a) a statement that Buyer or its Affiliates ("Buyer Indemnitee") is
     entitled to be indemnified under Article VIII of the Purchase Agreement;

          (b) the reasons therefore, set forth in reasonable detail;

          (c) the amount of the Claim by Buyer Indemnitee, provided that where
     the amount of the Claim is not a liquidated sum, the amount of the Claim
     shall be the amount reasonably estimated by Buyer Indemnitee in good faith;
     and

          (d) a statement that Buyer Indemnitee has delivered a copy of such
     Claim Certificate to Goldcoast and its legal counsel and the date on which
     such copy was delivered.

     Whenever a Claim Certificate is delivered to the Escrow Agent, the Escrow
Agent shall thereupon promptly deliver a copy to Goldcoast and its legal
counsel.

     Section 3.02. DISPUTED CLAIMS. For any Claim in which a Final Determination
has not been made, Goldcoast may dispute such Claim in whole or in part (a
"Disputed Claim"), by delivering to the Escrow Agent a written notice (an
"Objection Notice") within fifteen (15) calendar days of receipt of the Claim
Certificate from Buyer (such date referred to herein as the "Last Notice Date")
stating:

          (a) that Goldcoast disputes or objects to such Claim;

          (b) the reasons for such objection or dispute, to the extent then
     known;

          (c) that Goldcoast has delivered a copy of the Objection Notice to
     Buyer and its legal counsel and the date on which such copy was delivered;
     and

          (d) the portion of the Claim set forth in the Claim Certificate, if
     any, to which there is no dispute or objection, including the dollar amount
     of such portion of the Claim (an "Undisputed Claim").

     Whenever there shall be delivered to the Escrow Agent an Objection Notice,
the Escrow Agent shall thereupon promptly deliver a copy to Buyer and its legal
counsel.

     Section 3.03. PAYMENT OF CLAIMS.

          (a) For Claims for which a Final Determination has been made and
     submitted to the Escrow Agent, the Escrow Agent shall, within two (2)
     business days after the date it receives the Claim Certificate, pay to
     Buyer from the Indemnity Escrow an amount equal to the amount of the Claim
     specified in the Final Determination.

                                       3
<PAGE>   4

          (b) Claims for which a Final Determination has not been made shall be
     paid as follows:

               (i) If the Escrow Agent does not receive an Objection Notice by
          the Last Notice Date, the Escrow Agent shall, within two business days
          after such date, pay to Buyer from the Indemnity Escrow an amount
          equal to the amount of the Claim specified in the Claim Certificate.

               (ii) If the Escrow Agent receives from Goldcoast an Objection
          Notice which consents or agrees to part of a Claim, the Escrow Agent
          shall, within two (2) business days after the date it receives the
          Objection Notice, pay to Buyer from the Indemnity Escrow an amount
          equal to the aggregate amount of such Undisputed Claim as specified in
          the Objection Notice from Goldcoast.

          (c) If the Indemnity Amount is not sufficient to pay in full any
     amounts payable to Buyer under the preceding Sections 3.03(a) or 3.03(b),
     the Escrow Agent shall pay to Buyer such amount from the Indemnity Escrow
     as is available and the Escrow Agent's obligations under this Escrow
     Agreement shall terminate.

     Section 3.04. DISTRIBUTION OF INDEMNITY ESCROW. Except as provided in
Section 3.03 hereof, the Escrow Agent shall not make any distribution of the
Indemnity Escrow with respect to any Claim made by Buyer hereunder until:

          (a) it receives the written consent or agreement from Goldcoast with
     respect to such distribution; or

          (b) there is a Final Determination with respect to a Disputed Claim.

     Section 3.05. TERMINATION OF INDEMNITY ESCROW. Unless earlier terminated
pursuant to Section 3.03(c):

          (a) on the Termination Date, all of the Indemnity Amount (including
     any interest earned thereon) held by the Escrow Agent pursuant to the terms
     of this Escrow Agreement, less an amount equal to one hundred percent
     (100%) of the amount of any Disputed Claims as set forth herein, shall be
     paid by Escrow Agent to Goldcoast; and

          (b) upon settlement of all Disputed Claims outstanding as of the
     Termination Date, the Escrow Agent's obligations under this Escrow
     Agreement shall terminate, and all remaining Indemnity Amounts (including
     any interest earned thereon) held by the Escrow Agent shall be paid by the
     Escrow Agent to Goldcoast in accordance with such settlement, written
     notice of which shall be delivered to the Escrow Agent.

                                   ARTICLE IV
                                 HOLDBACK ESCROW

     Section 4.01. HOLDBACK ESCROW. If a Holdback Distribution Event occurs
prior to Legislative Session Expiration Date, Buyer shall deliver to the Escrow
Agent a certificate ("Officer's Certificate") signed by an authorized officer of
Buyer in substantially the form of

                                       4
<PAGE>   5

Exhibit C attached hereto; provided, however, that none of the Holdback Amount
shall be distributed to Buyer by the Escrow Agent unless Goldcoast fails to
object to the Officer's Certificate in the requisite time period or until the
dispute over the matters set forth in such Officer's Certificate are resolved as
set forth in Section 4.03 hereof.

     Whenever an Officer's Certificate is delivered to the Escrow Agent, the
Escrow Agent shall thereupon promptly deliver a copy to Goldcoast and its
counsel.

     Section 4.02. DISPUTED CLAIMS. Goldcoast may dispute such Officer's
Certificate by delivering to the Escrow Agent a written notice (a "Holdback
Objection Notice") within fifteen (15) calendar days of receipt of the Officer's
Certificate from Buyer stating:

          (a) that Goldcoast disputes or objects to such Officer's Certificate;

          (b) the reasons for such objection or dispute; and

          (c) that Goldcoast has delivered a copy of the Holdback Objection
     Notice to Buyer and its legal counsel and the date on which such copy was
     delivered.

     Whenever there shall be delivered to the Escrow Agent a Holdback Objection
Notice, the Escrow Agent shall thereupon promptly deliver a copy to Buyer and
its legal counsel.

     Section 4.03. DISTRIBUTION OF HOLDBACK ESCROW.

          (a) Escrow Agent shall take the following actions with respect to the
     Holdback Escrow:

               (i) If the Escrow Agent does not receive a Holdback Objection
          Notice within fifteen (15) calendar days after the date that it
          receives an Officer's Certificate from Buyer, the Escrow Agent shall,
          within two (2) business days after such fifteen (15) day period, pay
          to Buyer the aggregate amount in the Holdback Escrow.

               (ii) If the Escrow Agent receives from Goldcoast a Holdback
          Objection Notice, the Escrow Agent shall, within two (2) business days
          after the date it receives the Holdback Objection Notice, notify Buyer
          that Goldcoast has sent a Holdback Objection Notice to such Officer's
          Certificate.

               (iii) Upon Buyer's receipt of the Holdback Objection Notice,
          Buyer and Goldcoast shall use their best efforts to resolve such
          dispute and, in the event they are unable to do so, such dispute shall
          be subject to arbitration as set forth in Section 6.07 of this Escrow
          Agreement.

     Section 4.04. TERMINATION OF HOLDBACK ESCROW. If the Holdback Distribution
Event does not occur on or prior to the Legislative Session Expiration Date,
which date is expected to occur in May 2000, then within two (2) business days
after its receipt of written notice executed by Goldcoast and Buyer stating that
the Holdback Distribution Event did not occur, Escrow

                                       5
<PAGE>   6

Agent shall pay to Goldcoast the aggregate amount contained in the Holdback
Escrow (including any interest earned thereon).

                                   ARTICLE V
                                 ESCROW AMOUNTS

     Section 5.01. ADMINISTRATION OF ESCROW AMOUNTS.

          (a) Escrow Agent shall invest the Escrow Amounts in the Federal
     Treasury Obligations Money Market Fund or, if specifically directed in
     writing by Goldcoast, in Investments. Neither the Escrow Agent, Buyer nor
     Goldcoast shall be liable or responsible for any loss resulting from any
     investment or reinvestment made pursuant to this Section 5.01 and Buyer
     acknowledges that its right to any amounts contained in the Indemnity
     Escrow or Holdback Escrow shall be limited to the current balance of such
     accounts.

          As used herein "Investments" means:

               (i) direct obligations of, or obligations fully guaranteed by,
          the United States of America or any agency thereof with any residual
          amount being invested in the Federal Treasury Obligations Money Market
          Fund; and

               (ii) certificates of deposit whether negotiable or nonnegotiable,
          issued by any bank, trust company or national banking association,
          including the Escrow Agent, provided that such certificates of deposit
          shall (A) be issued by a bank, trust company or national banking
          association having a capital stock and surplus of more than
          $500,000,000, (B) be fully insured by the Federal Deposit Insurance
          Corporation or (C) be fully and continuously secured by direct
          obligations of, or obligations unconditionally guaranteed by, the
          United States of America, which (1) shall have a market value
          (exclusive of accrued interest) at all times at least equal to the
          principal amount of such certificates of deposit, (2) shall be lodged
          with the Escrow Agent (or any correspondent bank or trust company
          designated by the Escrow Agent), as custodian, by the bank, trust
          company or national banking association issuing such certificate of
          deposit; and

               (iii) the bank, trust company or national banking association
          issuing each certificate of deposit required to be so secured shall
          furnish the Escrow Agent with an undertaking satisfactory to it that
          the aggregate market value of such obligations securing each such
          certificate of deposit will at all times be an amount equal to the
          principal amount of each such certificate of deposit (and the Escrow
          Agent shall be entitled to rely on each such undertaking).

          (b) Maturities or unexpired terms of maturities of instruments in
     which the Indemnity Amount is invested shall not exceed ninety (90) days
     and in which the Holdback Amount is invested shall not exceed thirty (30)
     days. The Escrow Agent is authorized to sell any such Investments as may be
     required to make any payment under this Escrow Agreement, and the Escrow
     Agent shall not be liable for any loss due to early

                                       6
<PAGE>   7

     redemption. In the event that no such written instructions are given by
     Goldcoast as to any uninvested portion of the Escrow Amounts, such portion
     shall be invested by the Escrow Agent in United States treasury bills for a
     thirty (30) day period; provided, however that if such period is not
     available, such portion shall be invested for the closest period of shorter
     duration.

          (c) Not less than ten (10) nor more than fifteen (15) business days
     prior to the termination of the Escrow Agent's obligations under this
     Escrow Agreement, the Escrow Agent shall deliver to Buyer and Goldcoast a
     report outlining (i) the total amount of the Escrow Amounts as of such date
     and the total amount of interest earned on the Escrow Amounts prior thereto
     and not distributed pursuant to the terms of this Escrow Agreement, and
     (ii) copies of or a description of all Claim Certificates pursuant to which
     payments from the Indemnity Escrow have been made and a description of all
     other payments made from the Indemnity Escrow during the preceding eleven
     (11) month period and all pending Claim Certificates as of such date.

          (d) At the prior written request of either Buyer or Goldcoast at any
     time, the Escrow Agent shall deliver to Buyer and Goldcoast such
     information as shall be reasonably requested with respect to the Escrow
     Amounts and any interest earned thereon or payments made therefrom.

                                   ARTICLE VI
                                      OTHER

     Section 6.01. NOTICES. All notices (including Objection Notices),
certificates (including Claim Certificates), payments and distributions required
or permitted to be given or delivered hereunder shall be in writing (including
facsimile transmissions) and shall be deemed to have been given if delivered
personally or by commercial messenger or courier service, or mailed by
registered or certified mail (return receipt requested) or sent via facsimile
(with acknowledgment of complete transmission) to the parties at the following
addresses (or at such other address for a party as shall be specified by like
notice):

          If to Buyer:                 Concorde Cruises, Inc.
                                       c/o Concorde Gaming Corporation
                                       3290 Lien Street
                                       Rapid City, SD 57702
                                       Attention: Jerry Baum
                                       Telephone: (605)341-7738
                                       Fax: (605)341-0247

          with a copy to:              Morrison & Foerster LLP
                                       5200 Republic Plaza
                                       370 17th Street
                                       Denver, Colorado 80202
                                       Attention: Warren L. Troupe, Esq.
                                       Telephone: (303)592-1500
                                       Fax: (303)592-1510

                                       7
<PAGE>   8

          If to Goldcoast:             Goldcoast Entertainment Cruises, Inc.
                                       100 S. Biscayne Blvd., Suite 850
                                       Miami, Florida  33132
                                       Attention: Michael A. Hlavsa
                                       Telephone: (305)379-4422
                                       Fax: (305)379-5522

          If to Escrow Agent:          National City Bank of Evansville
                                       Box 868
                                       227 Main Street
                                       Evansville, Indiana 47708
                                       Attn: Stuart Harrington
                                       Telephone: (812)464-9608
                                       Fax: (812)464-9691

     Notice so given shall be deemed given and received (i) if by mail on the
fourth calendar day after posting; (ii) by facsimile or personal delivery on the
date of actual transmission or personal delivery, as the case may be; and (iii)
if by overnight courier, on the next business day following the day such notice
is delivered to the courier service.

     Section 6.02. RELIANCE. Escrow Agent may act upon any instrument or other
writing believed by it in good faith to be genuine and to be signed or presented
by the proper person or persons and shall not be liable in connection with the
performance by it of its duties pursuant to the provisions hereof, except for
its own willful misconduct or gross negligence. Buyer and Goldcoast shall each
jointly and severally indemnify and save harmless the Escrow Agent for one half
of all losses, costs, and expenses which may be incurred by it without gross
negligence or willful misconduct on the part of the Escrow Agent, arising out of
or in connection with its entering into this Escrow Agreement and carrying out
its duties hereunder. Such indemnification provisions shall survive the
termination of this Escrow Agreement or the removal or resignation of the Escrow
Agent.

     Section 6.03. FEES AND EXPENSES. The Escrow Agent shall be entitled to
compensation equal to Two Thousand Dollars ($2,000) for all of its services,
which compensation shall be paid one-half by Buyer and one-half by Goldcoast by
wire transfer of immediately available funds to an account designated by Escrow
Agent. The fee agreed upon for the services rendered hereunder is intended as
full compensation for the Escrow Agent's services as contemplated by this Escrow
Agreement.

     Section 6.04. LIABILITY OF THE ESCROW AGENT.

          (a) The Escrow Agent shall hold, invest and disburse the Escrow
     Amounts and any interest accrued thereon only in accordance with (a) this
     Escrow Agreement or (b) written instructions accompanied by a certificate
     signed by Buyer and Goldcoast confirming that such written instructions are
     being given in conformity with this Escrow Agreement. The Escrow Agent
     shall not be bound in any way by, or be deemed to have knowledge of, the
     Purchase Agreement or any other agreement between or among the

                                       8
<PAGE>   9

     parties hereto, other than this Escrow Agreement and the provisions of the
     Purchase Agreement specifically referenced herein. The Escrow Agent shall
     have no duties other than those expressly imposed on it herein and shall
     not be liable with respect to any action taken by it, or any failure on its
     part to act, except to the extent that such actions constitute gross
     negligence or willful misconduct.

          (b) The Escrow Agent makes no representations and has no
     responsibility as to the validity, genuineness or sufficiency of any of the
     documents or instruments delivered to it hereunder. Subject to Section
     6.04(a) hereof, the Escrow Agent (i) shall be entitled to rely upon any
     order, judgment, certification, demand, notice, instrument or other writing
     delivered to it hereunder without being required to determine the
     authenticity or the correctness of any fact stated therein or the propriety
     or validity of the service thereof, and (ii) may act in reliance upon any
     instrument or signature reasonably believed by it to be genuine and may
     assume that any person purporting to give notice, receipt or advice or make
     any statement or execute any document in connection with the provisions
     hereof has been duly authorized to do so. The Escrow Agent may act in
     reliance upon the written advice of counsel satisfactory to it in reference
     to any matter in connection with this Escrow Agreement and shall not incur
     any liability for any action taken in good faith in accordance with such
     written advice.

          (c) In the event the Escrow Agent should at any time be confronted
     with inconsistent or conflicting claims or demands by the parties hereto,
     such dispute shall be adjudicated in accordance with the arbitration
     provisions set forth in Section 6.07.

     Section 6.05. RESIGNATION; REMOVAL.

          (a) The Escrow Agent may resign upon thirty (30) days advance written
     notice to the parties. If a successor escrow agent is not appointed by the
     mutual agreement of Buyer and Goldcoast within the thirty (30) day period
     following such notice, the Escrow Agent may tender into the registry or
     custody of any court of competent jurisdiction any part or all of the
     Escrow Amounts.

          (b) The Escrow Agent shall be entitled to its compensation earned
     prior its resignation hereunder.

          (c) Buyer and Goldcoast may, at any time, substitute a new escrow
     agent by giving thirty (30) days notice thereof to the existing Escrow
     Agent and paying all fees and expenses of such Escrow Agent incurred to the
     date of the substitution. Upon the effective date of the substitution of a
     successor escrow agent, the Escrow Agent shall deposit all of the Escrow
     Amounts with such successor.

     Section 6.06. GOVERNING LAW. This Escrow Agreement shall be governed by and
construed in accordance with the laws of the State of Colorado, regardless of
the laws that might otherwise govern under applicable principles of conflicts of
laws thereof. Each of the parties hereto irrevocably consents to the exclusive
jurisdiction and venue of any court within the City and County of Denver, State
of Colorado, in connection with any matter based upon or arising out of this
Escrow Agreement or the matters contemplated herein, which matters are not
subject

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<PAGE>   10

to arbitration under Section 6.07, and agrees that process may be served upon
them in any manner authorized by the laws of the State of Colorado for such
persons and waives and covenants not to assert or plead any objection which they
might otherwise have to such jurisdiction, venue and such process.

     Section 6.07. ARBITRATION. All disputes, controversies or claims arising
out of or relating to this Escrow Agreement (including filing a Claim or
delivering a Claim Certificate or Officer's Certificate pursuant to Sections
3.01 and 4.01, respectively, and any objections by Goldcoast thereto), or the
breach hereof, shall be settled by arbitration in accordance with the Commercial
Arbitration Rules of the American Arbitration Association in Miami, Florida with
respect to claims brought by the Buyer and Denver, Colorado with respect to
claims brought by Goldcoast and, notwithstanding the preceding, any claim
involving the Escrow Agent. One arbitrator shall be selected by the indemnifying
party or parties (or in the case of a dispute involving the Escrow Agent, the
Escrow Agent), one arbitrator shall be selected by the indemnified party (or in
the case of a dispute involving the Escrow Agent, the other party to such
dispute), and the third arbitrator shall be chosen by the first two arbitrators
chosen. The cost and expense of arbitration shall be shared equally by the
parties to the arbitration, regardless of which party or parties prevail, except
with respect to attorney's fees which shall be subject to the provisions
contained in Section 6.11. The arbitration shall be conducted in accordance with
the following time schedule unless otherwise mutually agreed to in writing by
the parties: (i) parties to the arbitration proceeding shall each appoint their
respective arbitrator within fifteen (15) business days after notice of the
claim is received from the party initiating the arbitration; (ii) within five
(5) business days thereafter, such arbitrators shall appoint the third
arbitrator; (iii) within ten (10) business days after appointment of the third
arbitrator, the parties to the arbitration proceeding shall provide all
documents, records and supporting documentation reasonably necessary to resolve
the dispute; and (iv) within fifteen (15) business days after the date the above
records are due, the arbitrators shall render their decision The decision or
award of the arbitrators shall be final and binding upon the parties hereto to
the same extent and to the same degree as if the matter had been adjudicated by
a court of competent jurisdiction and shall be enforceable under the Federal
Arbitration Act.

     Section 6.08. AMENDMENTS. This Escrow Agreement may be amended or modified,
and any of the terms, covenants, representations, warranties, or conditions
hereof may be waived, only by a written instrument executed by all the parties
hereto, or in the case of a waiver, by the party waiving compliance. Any waiver
by any party of any condition, or of the breach of any provision, term,
covenant, representation, or warranty contained in this Escrow Agreement in any
one or more instances, shall not be deemed to be nor construed as a further or
continuing waiver of any such conditions, or of the breach of any other
provision, term, covenant, representation, or warranty of this Escrow Agreement.

     Section 6.09. SECTION HEADINGS. The section headings in this Escrow
Agreement are for reference purposes only and shall not affect the meaning or
interpretation of this Escrow Agreement.

     Section 6.10. SEVERABILITY. In the event that any part of this Escrow
Agreement is declared by any court or other judicial or administrative body to
be null, void, or unenforceable,

                                       10
<PAGE>   11

said provision shall survive to the extent it is not so declared, and all of the
other provisions of this Escrow Agreement shall remain in full force and affect.

     Section 6.11. ATTORNEY'S FEES. In the event of a dispute under this Escrow
Agreement, the reasonable attorneys' fees and costs of the prevailing party in
such dispute, shall be paid by the opposing party in such dispute.

     Section 6.12. COUNTERPARTS; THIRD PARTY BENEFICIARIES. This Escrow
Agreement may be signed in any number of counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon
the same instrument. Signatures on this Escrow Agreement may be communicated by
facsimile transmission and shall be binding upon the parties transmitting the
same by facsimile transmission. Counterparts with original signatures shall be
provided within seven days of the applicable facsimile transmission, provided,
however, that the failure to provide the original counterpart shall have no
effect on the validity or the binding nature of the Escrow Agreement. If
executed in counterparts, the Escrow Agreement shall be effective as if
simultaneously executed. No provision of this Escrow Agreement is intended to
confer upon any Person other than the parties hereto any rights or remedies
hereunder.

     Section 6.13. ESCROW AGENT REPORTS. Pursuant to the regulations of the
Office of the Comptroller of the Currency 12 C.F.R. 12.5(1), Buyer and Goldcoast
have the right to receive, at no additional cost and within five (5) business
days of the transaction, a written notification disclosing certain information
relating to securities purchase and sale transactions in the Escrow Amounts. The
Escrow Agent has the option of furnishing to Buyer and Goldcoast either (1) a
copy of the broker-dealer confirmation relating to the transaction or (2) a
written notification disclosing: the Escrow Agent's name, the account name, the
Escrow Agent's capacity in the transaction, the date of execution (and, upon
Buyer's and Goldcoast's written request, the time of execution) of the
transaction, the identity, price and number of shares involved, the remuneration
to the broker-dealer and his identity, the total remuneration to be received by
the Escrow Agent, and, if no broker-dealer was involved, the identify of the
person from whom the security was purchased or to whom it was sold.

     In lieu of the foregoing time and form of notification, Buyer and Goldcoast
agree that the Escrow Agent's periodic statements, transmitted pursuant to the
terms of this Escrow Agreement, will suffice.

                                       11
<PAGE>   12
     IN WITNESS WHEREOF, Buyer, Goldcoast and the Escrow Agent have caused this
Escrow Agreement to be signed the day and year first above written.

                                      BUYER

                                      CONCORDE CRUISES, INC.

                                      By:/s/ JERRY L. BAUM
                                         ---------------------------------------
                                      Name:  Jerry L. Baum
                                      Title: President

                                      SELLER

                                      GOLDCOAST ENTERTAINMENT CRUISES,
                                      INC.

                                      By: /s/ MICHAEL A. HLAVSA
                                         ---------------------------------------
                                      Name:  Michael A. Hlavsa
                                      Title: President

                                      ESCROW AGENT

                                      NATIONAL CITY BANK OF EVANSVILLE

                                      By: /s/ SHANE ROBERSON
                                         ---------------------------------------
                                      Name:  Shane Roberson
                                           -------------------------------------
                                      Title: Trust Administrator
                                            ------------------------------------

                                       12
<PAGE>   13

                                    EXHIBIT A

                     PARTNERSHIP INTEREST PURCHASE AGREEMENT

                                       A-1
<PAGE>   14

                                    EXHIBIT B

                            FORM OF CLAIM CERTIFICATE

     This Claim Certificate Notice is delivered pursuant to Section 3.01 of that
certain Escrow Agreement dated as of March 31, 2000 (the "Escrow Agreement"), by
and among Concorde Cruises, Inc., a South Dakota corporation ("Buyer"),
Goldcoast Entertainment Cruises, Inc., a Florida corporation ("Goldcoast"), and
National City Bank of Evansville, as escrow agent (the "Escrow Agent").
Capitalized terms used herein without definition shall have the meanings set
forth in the Escrow Agreement.

     The undersigned hereby instructs Escrow Agent to pay to the undersigned,
within two (2) business days after Escrow Agent's receipt of this Claim
Certificate, at the address set forth below, $______ from the Indemnity Escrow
established and maintained pursuant to the Escrow Agreement. In connection with
such distribution, the undersigned hereby certifies as follows:

     1. Buyer is entitled to submit this Claim Certificate to Escrow Agent
pursuant to Article III of the Escrow Agreement.

     2. The reasons Buyer is entitled to be indemnified are as follows:

     3. There has been a Final Determination with respect to the Claim with
evidence of such Final Determination submitted herewith.

     4. Buyer has delivered a copy of this Claim Certificate to Goldcoast and
its legal counsel on _______________________.

Dated:
      -------------
                                       Concorde Cruises, Inc.,
                                       a South Dakota corporation

                                       By:
                                          --------------------------------------
                                       Name:
                                            ------------------------------------
                                       Its:
                                           -------------------------------------

                                       Address for Payment:
                                       3290 Lien Street
                                       Rapid City, SD 57702

                                       B-1
<PAGE>   15

                                    EXHIBIT C

                              OFFICER'S CERTIFICATE

     This Officer's Certificate is delivered pursuant to Section 4.01 of that
certain Escrow Agreement dated as of March 31, 2000 (the "Escrow Agreement"), by
and among Concorde Cruises, Inc., a South Dakota corporation ("Buyer"),
Goldcoast Entertainment Cruises, Inc., a Florida corporation ("Goldcoast"), and
National City Bank of Evansville, as escrow agent (the "Escrow Agent").
Capitalized terms used herein without definition shall have the meanings set
forth in the Escrow Agreement.

     The undersigned hereby instructs Escrow Agent to pay to the undersigned,
upon the expiration of a fifteen (15) calendar day period from the date this
Officer's Certificate is received by Goldcoast, at the address set forth below,
the entire amount from the Holdback Escrow established and maintained pursuant
to the Escrow Agreement. In connection with such distribution, the undersigned
hereby certifies as follows:

     1. Buyer is entitled to submit this Officer's Certificate to Escrow Agent
pursuant to Article IV of the Escrow Agreement.

     2. The Holdback Distribution Event has occurred.

     3. Buyer has delivered a copy of this Officer's Certificate to Goldcoast
and its legal counsel on ___________________.

Dated:
      -------------
                                       Concorde Cruises, Inc.,
                                       a South Dakota corporation

                                       By:
                                          --------------------------------------
                                       Name:
                                            ------------------------------------
                                       Its:
                                           -------------------------------------

                                       Address for Payment:
                                       3290 Lien Street
                                       Rapid City, SD 57702

                                       C-1

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