Document:

<PAGE>
                                                                   Exhibit 10.83

                                                               EXECUTION VERSION

                      FIRST AMENDMENT TO UNLIMITED GUARANTY

     This Agreement is made as of the 22nd day of December, 2004, by and among
Lakes Entertainment, Inc., f/k/a Lakes Gaming, Inc., a Minnesota corporation
("Lakes") and Lakes Gaming and Resorts, LC, a Minnesota limited liability
company ("LG & R"; collectively with Lakes, and each of Lakes and LG&R
individually, the "Guarantor"), and the Pokagon Band of Potawatomi Indians (the
"Band").

                                   WITNESSETH:

     WHEREAS, the Band and Lakes entered into a Development Agreement dated as
of July 8, 1999 (the "1999 Development Agreement") and a Management Agreement
dated as of July 8, 1999 (the "1999 Management Agreement"; collectively, with
the 1999 Development Agreement, the "1999 Agreements"), pursuant to which the
Band engaged Lakes to, among other things, assist the Band in the design,
development, construction and management of a gambling casino and certain
related amenities (as defined in the 1999 Development Agreement, the
"Facility"); and

     WHEREAS, pursuant to the 1999 Development Agreement Lakes agreed to make
certain payments and advances to the Band, including without limitation the
Transition Loan, the Lakes Development Loan and the Non-Gaming Land Acquisition
Line of Credit (collectively the "Lakes Loans"), and the Scholarship Program
Fee, and has agreed to perform development services with regard to the Facility,
all on the terms set out in that Agreement; and

     WHEREAS, pursuant to the 1999 Management Agreement Lakes agreed to manage
the Facility on the terms set out in that Agreement; and

     WHEREAS, Lakes assigned its rights and obligations under the 1999
Agreements to Great Lakes Gaming of Michigan, LLC ("Great Lakes"), pursuant to
an Assignment and Assumption Agreement dated as of October 16, 2000, subject to
the terms and conditions set out in that Agreement; and

     WHEREAS, the 1999 Agreements were amended and restated by First Amended and
Restated Development Agreement dated as of October 16, 2000 and by First Amended
and Restated Management Agreement dated as of October 16, 2000 (the "First
Amended and Restated Agreements"); and

     WHEREAS, Guarantor unconditionally guaranteed the obligations of Great
Lakes to the Band under the First Amended and Restated Agreements pursuant to an
Unlimited Guaranty dated as of October 16, 2000 (the "Guaranty"); and

     WHEREAS, Great Lakes, Lakes and the Band have entered into a Second Amended
and Restated Development Agreement dated as of December 22, 2004 and a Second
Amended and

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Restated Management Agreement dated as of December 22, 2004 (the "Second Amended
and Restated Agreements"); and

     WHEREAS, the parties wish to amend the Guaranty to reflect the execution of
the Second Amended and Restated Agreements, and to provide that pursuant to the
Guaranty each Guarantor shall unconditionally guarantee the obligations of Great
Lakes to the Band under the Second Amended and Restated Agreements and all
related documents and instruments;

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

1.   Recitals True. The above recitals are true.

2.   Defined Terms. Capitalized terms used but not otherwise defined herein and
     defined in the Second Amended and Restated Agreements shall have the same
     meaning herein as therein.

3.   Amendment to Guaranty. The Guaranty is amended as follows:

     a.   All references to the term "Development Agreement" shall mean the
          development agreement dated as of July 8, 1999 between Lakes and the
          Band, as assumed by Great Lakes under the Assignment and Assumption
          Agreement dated as of October 16, 2000, and as amended and restated by
          First Amended and Restated Development Agreement dated as of October
          16, 2000 and by Second Amended and Restated Development Agreement
          dated as of December 22, 2004.

     b.   All references to the term "Management Agreement" shall mean the
          management agreement dated as of July 8, 1999 between Lakes and the
          Band, as assumed by Great Lakes under the Assignment and Assumption
          Agreement dated as of October 16, 2000, and as amended and restated by
          First Amended and Restated Management Agreement dated as of October
          16, 2000 and by Second Amended and Restated Management Agreement dated
          as of December 22, 2004.

     c.   All references to the term "Lakes Loans" shall mean the Transition
          Loan, the Lakes Development Loan, the Non-Gaming Land Acquisition Line
          of Credit and the Lakes Facility Loan.

     d.   All references to the term "Obligations" shall mean any and all
          obligations of Great Lakes to the Band under or relating to the
          following documents and instruments:

          i.   Development Agreement;

          ii.  Management Agreement;

          iii. Second Amended and Restated Non-Gaming Land Acquisition Line of
               Credit dated as of December 22, 2004;

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     iv.  Control Agreement, as assumed by Great Lakes pursuant to Assignment
          and Assumption Agreement dated as of October 16, 2000, and as amended
          by First Amendment dated as of October 16, 2000 and by Second
          Amendment dated as of December 22, 2004;

     v.   Pledge and Security Agreement, as assumed by Great Lakes pursuant to
          Assignment and Assumption Agreement dated as of October 16, 2000, and
          as amended by First Amendment dated as of October 16, 2000 and by
          Second Amendment dated as of December 22, 2004;

     vi.  Assignment and Assumption Agreement dated as of October 16, 2000, as
          amended by First Amendment dated as of December 22, 2004.

4.   Consent. Each Guarantor consents to the Second Amended and Restated
     Agreements and to all documents executed in connection therewith or related
     thereto.

5.   Reservation of Rights. By entering into this Agreement, the Band does not
     waive or affect any rights against any Guarantor.

6.   Warranties and Representations - Great Lakes and Lakes. Each of the
     Guarantors warrants, represents and covenants to the Band that:

     a.   The Guaranty, as amended by this Agreement, constitutes the legal,
          valid and binding obligation of each of the Guarantors, and is fully
          enforceable in accordance with its terms; and

     b.   Neither the execution or delivery of this Agreement nor fulfillment of
          or compliance with the terms and provisions hereof or of the Guaranty,
          as amended by this Agreement, will conflict with, or result in a
          breach of the terms, conditions or provisions of, constitute a default
          under or result in the creation of any lien, charge or encumbrance
          upon any property or assets of any Guarantor under any agreement or
          instrument to which they or either of them is now a party or by which
          they may be bound.

7.   Further Assurances. From time to time hereafter, each Guarantor and the
     Band will execute and deliver, or will cause to be executed and delivered,
     such additional instruments, certificates or documents, and will take all
     such actions, as may reasonably be requested by the other party or parties,
     for the purpose of implementing or effectuating the provisions of this
     Agreement.

8.   Governing Law. This Agreement shall be interpreted in accordance with the
     law of the internal law of Minnesota.

9.   Amendments, Assignments, Etc. Any provision of this Agreement may be
     amended if, but only if, such amendment is in writing and is signed by each
     of the parties hereto. No modification shall be implied from course of
     conduct.

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10.  Gender and Number; Counterparts. Whenever the context so requires the
     masculine gender shall include the feminine and/or neuter and the singular
     number shall include the plural, and conversely in each case. This
     Agreement may be executed in separate counterparts and said counterparts
     shall be deemed to constitute one binding document.

11.  Arbitration; Limited Waiver of Sovereign Immunity. Any disputes under this
     Agreement shall be subject to arbitration as provided in 18 of the
     Guaranty. The Band's limited waiver of sovereign immunity in 19 of the
     Guaranty shall apply to this Agreement.

12.  Ratification. Except as expressly modified in this Agreement, the Guaranty
     is ratified and confirmed and remains in full force and effect.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the 22nd day of December, 2004.

WITNESS:

                                        LAKES ENTERTAINMENT, INC., f/k/a LAKES
                                        GAMING, INC.

                                        BY: /s/ Timothy Cope
-------------------------------------       ------------------------------------
                                        NAME: Timothy J. Cope
                                        ITS: President

                                        LAKES GAMING AND RESORTS, LLC

                                        BY: /s/ Timothy Cope
-------------------------------------       ------------------------------------
                                        NAME: Timothy J. Cope
                                        ITS: President

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                                        THE POKAGON BAND OF POTAWATOMI INDIANS

                                        BY:
-------------------------------------       ------------------------------------
                                            John Miller
                                        ITS: Council Chairman

                                        BY:
-------------------------------------       ------------------------------------
                                            Daniel Rapp
                                        ITS: Secretary

                                        5<PAGE>
                                                                   Exhibit 10.84

                                                               EXECUTION VERSION

                 SECOND AMENDED AND RESTATED INDEMNITY AGREEMENT

     This Indemnity Agreement is dated as of the 22nd day of December, 2004, by
and between the Pokagon Band of the Potawatomi Indians (the "Band") and Great
Lakes Gaming of Michigan, LLC, a Minnesota limited liability company ("Lakes"):

                                   WITNESSETH:

     WHEREAS, the Band and Lakes Entertainment, Inc., f/k/a Lakes Gaming, Inc.
("Lakes Entertainment") previously entered into Development Agreement dated as
of July 8, 1999, as assigned by Lakes Entertainment to Lakes pursuant to that
certain Assignment and Assumption Agreement dated October 16, 2000, by and among
the Band, Lakes Entertainment and Lakes, and as amended and restated by that
certain First Amended and Restated Development Agreement dated October 16, 2000
by and between the Band and Lakes, and as amended and restated by that certain
Second Amended and Restated Development Agreement dated as of December 22, 2004,
by and between the Band and Lakes (collectively, and as heretofore and hereafter
amended, the "Development Agreement"), pursuant to which the Band has engaged
Lakes to, among other things, assist the Band in the design, development,
construction and management of the Facility; and

     WHEREAS, Article 2 of the Development Agreement provides, among other
things, that Lakes shall finance the acquisition of all parcels of land
comprising the Gaming Site and the Non-Gaming Lands through the making of
advances (a) under the Lakes Note for the acquisition of each parcel of land
constituting the Gaming Site (all such advances, whether heretofore or hereafter
made, shall be collectively referred to as the "Gaming Site Advances"), and (b)
under the Non-Gaming Land Acquisition Line of Credit for each parcel of land
constituting the Non-Gaming Lands (all such advances, whether heretofore or
hereafter made, shall be collectively referred to as the "Non-Gaming Land
Advances" and together with all Gaming Site Advances shall be collectively
referred to as the "Advances"); and

     WHEREAS, as further provided in Article 2 of the Development Agreement, all
of the Gaming Site Advances and the Non-Gaming Land Advances are to be secured
by mortgages in favor of Lakes on the related parcels of land constituting the
Gaming Site and the Non-Gaming Lands; and

     WHEREAS, the Band, with the consent of Lakes, has formed and may hereafter
form certain related entities known as "Band Designees", including but not
limited to Pokagon Properties, LLC, a Delaware limited liability company
("PPLLC") and Filbert Land Development, LLC, an Indiana limited liability
company ("Filbert"), for the purpose of, at Band's option, acquiring title to
all or a portion of the Gaming Site and all or a portion of the Non-Gaming
Lands; and

     WHEREAS, each of the Advances (to the extent made in connection with any
Band

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Designee's acquisition of Gaming Site or Non-Gaming Land parcels) will be made
available by the Band to the Band Designee for the purpose of paying all costs
associated with the acquisition of the parcels of land constituting the Gaming
Site and the Non-Gaming Lands; and

     WHEREAS, Lakes has required and will be requiring each Band Designee to
execute and deliver certain Band Designee Guaranties and Band Designee Mortgages
(as each of such terms are defined in the Development Agreement) and amendments
thereto from time to time in connection with each acquisition of parcels of land
related to the Gaming Site and the Non-Gaming Lands and has required the Band to
execute and deliver that certain Indemnity Agreement dated October 16, 2000 by
and between the Band and Lakes, as amended and restated by that certain First
Amended and Restated Indemnity Agreement dated February 28, 2001 (collectively
the "Original Indemnity Agreement") to Lakes, all as a condition precedent to
the making of such Advances; and

     WHEREAS, in connection with the execution of the Second Amended and
Restated Development Agreement, the Band and Lakes desire to amend and restate
the Original Indemnity Agreement as set forth herein.

     NOW, THEREFORE, for valuable consideration, the receipt of which is hereby
acknowledged, and as an inducement to the Lakes to make the Advances to the
Band, the Band agrees as follows:

     1. Recitals True. The above recitals are true and this Second Amended and
this Second Amended and Restated Indemnity Agreement shall amend and restate the
Original Indemnity Agreement in its entirety.

     2. Definitions. Capitalized terms used but not otherwise defined herein and
defined in the Development Agreement shall have the same meaning herein as
therein.

     3. Indemnity - General. The Band agrees to indemnify and to hold Lakes (the
"Indemnitee") harmless from any and all claims, causes of action, damages,
penalties, fees and costs (to the extent such fees and costs are payable under
the respective Band Designee Mortgages) which may be asserted against, or
incurred by, Indemnitee resulting from or due to any Band Designee's failure to
pay and perform each of its obligations under any Band Designee Guaranty and the
respective Band Designee Mortgages (excluding obligations under Section 25 of
any Band Designee Mortgage) as and when required thereunder (collectively, the
"Indemnified Obligation"); provided that such indemnity shall only be due and
owing after an Event of Default has occurred under the applicable Band Designee
Guaranty or respective Band Designee Mortgage and all applicable notices have
been given and all rights of cure have expired, and either (a) the time within
which arbitration may be demanded has expired, or (b) if arbitration has been
timely demanded, as and to the extent allowed in an arbitration award. The
Band's duty to indemnify and hold harmless includes, but is not limited to,
proceedings or actions commenced by any person (including, but not limited to,
any federal, state, or local governmental agency or entity) before any court or
administrative agency asserting a claim for which Band must indemnify Indemnitee
under this section. The Band further agrees that pursuant to its duty to
indemnify under this section, the Band shall indemnify the Indemnitee against
all Indemnified Obligations incurred by it as they become due and not waiting
for the

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ultimate outcome of such litigation or administrative proceeding.

     4. Indemnity - Hazardous Waste. The Band agrees to indemnify and to hold
Lakes and each of its officers, directors, shareholders, employees, agents,
attorneys and other representatives (individually and collectively, the
"Hazardous Waste Indemnitees") harmless from any and all claims, causes of
action, damages, penalties, fees and costs (to the extent such fees and costs
are payable under the respective Band Designee Mortgages) which may be asserted
against, or incurred by, any of the Hazardous Waste Indemnitees resulting from
or due to any Band Designee's failure to pay and perform its obligations under
Section 25 of any Band Designee Mortgage as and when required thereunder
(collectively, the "Hazardous Waste Indemnity Obligation"); provided that such
indemnity shall only be due and owing after an Event of Default has occurred
under the applicable Band Designee Guaranty or respective Band Designee Mortgage
and all applicable notices have been given and all rights of cure have expired,
and either (a) the time within which arbitration may be demanded has expired, or
(b) if arbitration has been timely demanded, as and to the extent allowed in an
arbitration award. The Band's duty to indemnify and hold harmless includes, but
is not limited to, loss or liability asserted in proceedings or actions
commenced by any person (including, but not limited to, any federal, state, or
local governmental agency or entity) before any court or administrative agency
asserting a claim for which Band must indemnify Hazardous Waste Indemnitees
under this section. The Band further agrees that pursuant to its duty to
indemnify under this section, the Band shall indemnify the Hazardous Waste
Indemnitees against all Hazardous Waste Indemnity Obligations incurred by them
as they become due and not waiting for the ultimate outcome of such litigation
or administrative proceeding. The Band's obligations to indemnify and hold the
Hazardous Waste Indemnitees harmless hereunder shall survive repayment,
satisfaction and/or foreclosure of the Guaranty, the respective Band Designee
Mortgages and all other obligations now or hereafter owed by the Band to Lakes
or its permitted assigns under the Development Agreement, the Management
Agreement (as defined in the Development Agreement) and any other instruments,
documents or agreements related thereto, but shall remain subject to the
provisions of Sections 6, 7, 8, 9 and 10 of this Indemnity Agreement, which
shall also survive such repayment, satisfaction or foreclosure.

     5. Advances under Loan Agreements. Notwithstanding the foregoing and
without limiting the rights of Lakes under each Band Designee Guaranty and the
respective Band Designee Mortgages, prior to the occurrence of the Commencement
Date for the Facility, all Indemnified Obligations and Hazardous Waste Indemnity
Obligations (collectively, the "Indemnity Obligations") accruing prior thereto
and not paid by the Band on demand by any of the Indemnitees, shall be deemed to
be an Advance made by Lakes to the Band under the terms of the Lakes Development
Note or the Non-Gaming Lands Acquisition Line of Credit, as applicable, and
shall accrue interest from the date incurred and be repayable in accordance with
the terms set forth therein; subject to timely demand for arbitration under
Section 6 and, if so demanded, the arbitration award. Thereafter, to the extent
any Indemnity Obligations are not paid on demand, the same shall constitute
"Operating Expenses" (as defined in the Management Agreement) paid by Lakes and
Lakes shall be entitled to reimbursement of the same under the Management
Agreement without any further consent or approval of the Band; subject to timely
demand for arbitration under Section 6 and, if so demanded, the arbitration
award.

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     6. Arbitration; Limited Waiver of Sovereign Immunity. Any disputes under
this Indemnification Agreement shall be subject to arbitration as provided in
Section 14.2 of the Development Agreement and be resolved in the venues provided
in Section 14.1 of the Development Agreement. The Band's limited waiver of
sovereign immunity in Section 14.1 of the Development Agreement shall apply to
this Agreement.

     7. Limited Recourse. The liability of the Band under or relating to this
Agreement shall always be Limited Recourse, and in no instance shall any
enforcement of any kind whatsoever be allowed against any assets of the Band
other than the limited assets of the Band specified in the definition of Limited
Recourse and Section 14.3(a) of the Development Agreement.

     8. Governing Law. This Agreement shall be interpreted in accordance with
the law of Michigan.

     9. Amendments, Assignments, Etc. Any provision of this Agreement may be
amended if, but only if, such amendment is in writing and is signed by each of
the parties hereto. No modification shall be implied from course of conduct.
Lakes may not assign its rights and obligations hereunder except to an assignee
permitted under Section 10.5(a) of the Development Agreement. This Agreement may
be executed in separate counterparts and such counterparts shall be deemed to
constitute one binding document.

     10. Notices. The Band agrees that any notice or demand upon it shall be
deemed to be sufficiently given or served if it is in writing and is personally
served or in lieu of personal service is mailed by first class certified mail,
postage prepaid, or be overnight mail or courier service, addressed to the Band
at the address of the Band and with copies set forth in Section 15.4 of the
Development Agreement. Any notice or demand so mailed shall be deemed received
on the date of actual receipt, on the third business day following mailing as
herein set forth or one day following delivery to a courier service, whichever
first occurs.

     11. Termination. This Indemnity Agreement shall terminate (except as
provided in Section 4) upon the discharge of all Band Designee Mortgages.

                 (Balance of this page intentionally left blank)

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     IN WITNESS WHEREOF, the parties hereto have caused this Second Amended and
Restated Indemnity Agreement to be executed as of the 22nd day of December,
2004.

WITNESS:

                                        THE POKAGON BAND OF POTAWATOMI INDIANS

                                        /s/ John Miller
-------------------------------------   ----------------------------------------
                                        By: John Miller
                                        Its: Council Chairman

                                        /s/ Daniel Rapp
-------------------------------------   ----------------------------------------
                                        By: Daniel Rapp
                                        Its: Secretary

                                        GREAT LAKES GAMING OF MICHIGAN, LLC

                                        /s/ Timothy Cope
-------------------------------------   ----------------------------------------
                                        By: Timothy J. Cope
                                        Its: President

                                        5

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