Document:

Prepared by MerrillDirect

Exhibit
10.18

EXHIBIT
A

TO FIRST AMENDMENT

REVOLVING
CREDIT NOTE

(Second Restated)

	$75,000,000.00	July
  30, 2001

                                FOR
VALUE RECEIVED, the undersigned, MTR GAMING GROUP, INC., a Delaware
corporation, MOUNTAINEER PARK, INC., a West Virginia corporation, SPEAKEASY
GAMING OF LAS VEGAS, INC., a Nevada corporation, SPEAKEASY GAMING OF RENO,
INC., a Nevada corporation and PRESQUE ISLE DOWNS, INC., a Pennsylvania
corporation (collectively the "Borrowers") jointly and severally
promise to pay to the order of WELLS FARGO BANK, National Association, as Agent
Bank on behalf of itself and the other Lenders as defined and described in the
Credit Agreement described hereinbelow (each, together with their respective
successors and assigns, individually being referred as a "Lender" and
collectively as the "Lenders") such sums as Lenders may hereafter
loan or advance or re-loan to the Borrowers from time to time pursuant to the
Credit Facility as described in the Credit Agreement, hereinafter defined up to
the maximum principal sum of Seventy-Five Million Dollars ($75,000,000.00) (or
such lesser amount of such loans and advances as may be outstanding from time
to time), the unpaid balance of which shall not exceed in the aggregate the
Maximum Permitted Balance at any time, together with interest on the principal
balance outstanding from time to time at the rate or rates set forth in the
Credit Agreement.

                                A.            Incorporation of Credit Agreement.

                                                1.             Reference is made to the Amended
and Restated Credit Agreement dated as of August 15, 2000, as amended by
First Amendment to Amended and Restated Credit Agreement dated as of July 30,
2001 (as may be further amended, modified, extended, renewed or restated from
time to time, the "Credit Agreement"), executed by and among the Borrowers
and the Lenders and Swingline Lender therein named, and Wells Fargo Bank,
National Association, as administrative and collateral agent for itself and for
the Lenders (the "Agent Bank"). 
Terms defined in the Credit Agreement and not otherwise defined herein
are used herein with the meanings defined for those terms in the Credit
Agreement.  This is a restatement of the
Amended and Restated Revolving Credit Promissory Note (the "Prior
Note") dated August 15, 2000, for the purpose of evidencing an increase
of the Aggregate Commitment from Sixty Million Dollars ($60,000,000.00) to
Sixty-Seven Million Five Hundred Thousand Dollars ($67,500,000.00) as of the
First Amendment Effective Date and, subject to the occurrence of the Second
Increase Effective Date, for the purpose of evidencing an additional increase
of the Aggregate Commitment from Sixty-Seven Million Five Hundred Thousand
Dollars ($67,500,000.00) to Seventy-Five Million Dollars ($75,000,000.00) and
shall constitute the Revolving Credit Note (Second Restated) ("Revolving
Credit Note") referred to in the Credit Agreement, and any holder hereof
(in accordance with the Credit Agreement) is entitled to all of the rights,
remedies, benefits and privileges provided for in the Credit Agreement as
originally executed or as it may from time to time be supplemented, modified or
amended.  The Credit Agreement, among
other things, contains provisions for acceleration of the maturity hereof upon
the happening of certain stated events upon the terms and conditions therein
specified.

                                                2.             The outstanding principal
indebtedness evidenced by this Revolving Credit Note shall be payable as
provided in the Credit Agreement and in any event on August 15, 2005, the
Maturity Date.

                                                3.             Interest shall be payable on the outstanding
daily unpaid principal amount of each Borrowing hereunder from the date thereof
until payment in full and shall accrue and be payable at the rates and on the
dates set forth in the Credit Agreement both before and after Default and
before and after maturity and judgment, with interest on overdue interest to
bear interest at the Default Rate, to the fullest extent permitted by
applicable law.

                                                4.             The amount of each payment
hereunder shall be made to the Agent Bank at the Agent Bank's office as specified
in the Credit Agreement for the account of the Lenders at the time or times set
forth therein, in lawful money of the United States of America and in
immediately available funds.

                                                5.             Borrowings hereunder shall be made
in accordance with the terms, provisions and procedures set forth in the Credit
Agreement.

                                B.            Default.  The "Late Charges and Default
Rate" provisions contained in Section 2.10 and the "Events of
Default" provisions contained in Article VII of the Credit Agreement
are hereby incorporated by this reference as though fully set forth
herein.  Upon the occurrence of a
Default or Event of Default, Borrowers' right to convert or exercise its
Interest Rate Option for a LIBOR Loan, or the continuation thereof at the
expiration of the then current Interest Period, shall immediately, without
notice or demand, terminate for so long as a Default or Event of Default is
continuing.

                                C.            Waiver.  Borrowers
waive diligence, demand, presentment for payment, protest and notice of
protest.

                                D.            Collection Costs.  In the event of the occurrence of an Event
of Default, the Borrowers agree to pay all reasonable costs of collection,
including reasonable attorneys fees, in addition to and at the time of the
payment of such sum of money and/or the performance of such acts as may be
required to cure such default.  In the
event legal action is commenced for the collection of any sums owing hereunder
the undersigned agrees that any judgment issued as a consequence of such action
against Borrowers shall bear interest at a rate equal to the Default Rate until
fully paid.

                                E.             Interest Rate Limitation.  Notwithstanding any provision herein or in
any document or instrument now or hereafter securing this Revolving Credit
Note, the total liability for payments in the nature of interest shall not
exceed the limits now imposed by the applicable laws of the State of Nevada or
the United States of America.

                                F.             Security.  This Revolving Credit Note is secured by the
Security Documentation described in the Credit Agreement.

                                G.            Governing Law.  This Revolving Credit Note has been
delivered in Las Vegas, Nevada, and shall be governed by and construed in
accordance with the laws of the State of Nevada.

                                H.            Partial Invalidity.  If any provision of this Revolving Credit
Note shall be prohibited by or invalid under any applicable law, such provision
shall be in­effective only to the extent of such prohibition or invalidity,
without invalidating the remainder of such provision of any other provision of
this Revolving Credit Note.

                                I.              No Conflict with Credit
Agreement.  This Revolving Credit
Note is issued under, and subject to, the terms, covenants and conditions of
the Credit Agreement, which Credit Agreement is by this reference incorporated
herein and made a part hereof.  No
reference herein to the Credit Agreement and no provision of this Revolving
Credit Note or the Credit Agreement shall alter or impair the obligations of
Borrowers, which are absolute and unconditional, to pay the principal of and
interest on this Revolving Credit Note at the place, at the respective times,
and in the currency prescribed in the Credit Agreement.  If any provision of this Revolving Credit
Note conflicts or is inconsistent with any provision of the Credit Agreement,
the provisions of the Credit Agreement shall govern.

                                J.             Effective Date.  This Revolving Credit Note shall not be
binding upon the Borrowers until the occurrence of the First Amendment
Effective Date, as defined in the Credit Agreement.

                                K.            Restatement of Prior Note.  This Revolving Credit Note is a complete
amendment to and restatement of the Prior Note and shall evidence all
Indebtedness evidenced by the Prior Note and upon the execution and delivery of
this Revolving Credit Note to Agent Bank and the occurrence of the First
Amendment Effective Date, the Prior Note shall be of no further force or
effect.

                                IN
WITNESS WHEREOF, this Revolving Credit Note has been executed as of the date
first hereinabove written.

	 	BORROWERS:
	 	 
	 	MTR GAMING GROUP, INC.,

  a Delaware corporation  
	 	 
	 	By	/s/ 
  Edson R. Arneault
	 	 	

	 	 	Edson R. Arneault,
	 	 	President
	 	 	 
	 	MOUNTAINEER PARK, INC.,

  a West Virginia corporation             
  
	 	 
	 	By	/s/ 
  Edson R. Arneault
	 	 	

	 	 	Edson R. Arneault,
	 	 	President
	 	 
	 	SPEAKEASY GAMING OF LAS VEGAS, INC.,

  a Nevada corporation
	 	 
	 	By	/s/ 
  Edson R. Arneault
	 	 	

	 	 	Edson R. Arneault,
	 	 	President
	 	 
	 	SPEAKEASY
  GAMING OF RENO, INC.,

  a Nevada corporation              
	 	 
	 	By	/s/  Edson R. Arneault
	 	 	

	 	 	Edson
  R. Arneault,
	 	 	President
	 	 	 
	 	PRESQUE ISLE DOWNS, INC.,

  a Pennsylvania corporation            
  
	 	 
	 	By	/s/ 
  Edson R. Arneault
	 	 	

	 	 	Edson R. Arneault,
	 	 	PresidentPrepared by MerrillDirect

Exhibit 10.19

THIRD AMENDMENT TO SECURITY AGREEMENT

(MTRI)

                           THIS
THIRD AMENDMENT TO SECURITY AGREEMENT (MTRI) ("Third Amendment to Security
Agreement") is made and entered into as of July 30, 2001 by and
between MTR GAMING GROUP, INC., a Delaware corporation, party of the first part
(hereinafter collectively referred to as "Debtor") and WELLS FARGO
BANK, National Association, as administrative and collateral agent for the
Lenders and the Swingline Lender, all of which are defined in the Credit Agreement
referred to below, party of the second part (hereinafter referred to, in such
capacity, as "Secured Party").

R_E_C_I_T_A_L_S:

                           A.         Debtor and Secured Party executed,
among other instruments, a Security Agreement (MTRI) dated December 20,
1999 (herein­after the "Original Security Agreement").  The Original Security Agreement was amended
by: (i) that certain First Amendment to Security Agreement (MTRI) (the
"First Amendment to Security Agreement") dated June 1, 2000; and
(ii) that certain Second Amendment to Security (MTRI) dated
August 15, 2000.  The Original
Security Agreement as so amended is collectively referred to herein as the
"Existing Security Agreement".

                           B.          The Existing Security Agreement
secures payment and performance under the following (among other obligations):

             (i)          That
certain Amended and Restated Credit Agreement executed under date of
August 15, 2000 (the "Existing Credit Agreement") by Debtor,
Mountaineer Park, Inc., a West Virginia corporation, Speakeasy Gaming of Las
Vegas, Inc., a Nevada corporation and Speakeasy Gaming of Reno, Inc., a Nevada
corporation (collectively, "Existing Borrowers"), the Lenders party
thereto (together with their successors and assigns, the "Lenders"),
the Swingline Lender party thereto (together with its successors and assigns,
the "Swingline Lender") and Secured Party, pursuant to which, among
other things: (aa) the Lenders provided a reducing revolving credit
facility to the Existing Borrowers with an initial maximum principal amount of
Sixty Million Dollars ($60,000,000.00) (the "Existing Credit
Facility"); and (bb) the Swingline Lender provided a swingline
subfacility, under the Existing Credit Facility, in the maximum principal
amount of Five Million Dollars ($5,000,000.00) (as it may be renewed, extended,
amended, restated, replaced, substituted or otherwise modified from time to
time, the "Swingline Facility");

             (ii)         That certain Amended and Restated Revolving Credit
Promissory Note which was executed by Existing Borrowers under date of
August 15, 2000 and is payable to the order of Secured Party in the
principal amount of Sixty Million Dollars ($60,000,000.00), all for the purpose
of evidencing Existing Borrowers' obligation (among other obligations) to repay
amounts advanced under the Existing Credit Facility, together with accrued
interest thereon (the "Existing RLC Note"); and

             (iii)        That certain Swingline Note which was executed by Existing
Borrowers under date of August 15, 2000 and is payable to the order of the
Swingline Lender in the principal amount of Five Million Dollars
($5,000,000.00), all for the purpose of evidencing Existing Borrowers'
obligation (among other obligations) to repay amounts advanced under the
Swingline Facility together with accrued interest thereon (as it may be renewed, extended, amended, restated, replaced,
substituted or otherwise modified from time to time, the "Swingline
Note").

                           C.          Concurrently, or substantially
concurrent, herewith, Presque Isle Downs, Inc., a Pennsylvania corporation
("PIDI") and Existing Borrowers (collectively, "Borrowers")
have entered into a First Amendment to Amended and Restated Credit Agreement
with the Lenders, the Swingline Lender and Secured Party (the "First
Amendment to Credit Agreement') pursuant to which, among other things:
(i) PIDI has become a borrower under the Existing Credit Agreement, as
amended thereby; and (ii) the maximum amount available for borrowing under
the Existing Credit Facility has been increased from Sixty Million Dollars
($60,000,000.00) to Seventy-five Million Dollars ($75,000,000.00) (the
"Commitment Increase"); with the Existing Credit Facility, as
modified pursuant to the Credit Agreement, and as it may be further renewed,
extended, amended, restated, replaced, substituted or otherwise modified, being
collectively referred to herein as the "Credit Facility".

                           D.         Borrowers executed and delivered to
Secured Party a Revolving Credit Note (Second Restated), which is dated
concurrently, or substantially concurrent, herewith, in a maximum principal
amount of Seventy-five Million Dollars ($75,000,000.00) (the "Restated RLC
Note" and, as it may be renewed, extended, amended, restated, replaced,
substituted or otherwise modified from time to time, the "RLC Note")
for the purpose of restating the Existing RLC Note in order to provide, among
other things, for the Existing RLC Note, as so restated, to evidence Borrowers'
obligation to repay amounts advanced under the Credit Facility, together with
accrued interest thereon.

                           E.          Debtor and Secured Party now wish to
amend the Existing Security Agreement for the purpose, among other things, of:
(i) reflecting the enactment of Revised Article 9, which is referred
to below; (ii) providing record notice of the First Amendment to Credit
Agreement, the Commitment Increase and the RLC Note; (iii) confirming that
the Existing Security Agreement secures Borrowers' payment and performance
under the Credit Agreement and the RLC Note; and (iv) to the extent that
Borrowers' payment and performance under the Credit Agreement and the RLC Note
may not be secured by the Existing Security Agreement, amending the Existing
Security Agreement to so secure such payment and performance; (collectively,
the "Security Agreement Modifications").

                           NOW, THEREFORE,
for the purpose, among other things, of: 
(i) amending the Existing Security Agreement; and
(ii) providing for the Existing Security Agreement Modifications; all as
hereinafter set forth, and for other good and valuable consideration, the
parties hereto do agree as follows:

                           1.          Section 1.03 of the Existing Security
Agreement is hereby amended to read, in its entirety, as follows:

             "Section 1.03.  Secured Obligations.  This Agreement secures, and the Collateral
is security for, the following (collectively, the "Secured
Obligations"):

                          (a)         Payment when due, whether at stated
maturity, by required prepayment, declaration, acceleration, demand or
otherwise (including payment of amounts that would become due but for the
operation of the automatic stay under Section 362(a) of the Bankruptcy Code,
11 U.S.C. § 362(a)), of: 
(i) the principal sum which is, at any time, advanced and unpaid
under the Credit Facility (as defined in the Credit Agreement), not to exceed
Seventy-five Million Dollars ($75,000,000.00) at any one time, all on a
reducing revolving line of credit basis; (ii) interest and other charges
accrued on said principal sum, or accrued on interest and other charges then
outstanding under the Credit Facility (all including, without limitation,
interest and other charges that would accrue on such obligations, but for the
filing of a petition in bankruptcy with respect to any of the Borrowers); and
(iii) any other obligations of Borrowers under the RLC Note referred to
below; all according to the terms of a Revolving Credit Note (Second Restated) dated
concurrently, or substantially concurrent, with the Third Amendment to Security
Agreement, which is made by Borrowers and is payable to the order of Secured
Party according to the tenor and effect of said Revolving Credit Note (Second
Restated), and all renewals, extensions, amendments, restatements,
replacements, substitutions and other modifica­tions thereof (hereinafter
collectively referred to as the "RLC Note").

                          (b)        Payment when due, whether at stated
maturity, by required prepayment, declaration, acceleration, demand or
otherwise (including payment of amounts that would become due but for the
operation of the automatic stay under Section 362(a) of the Bankruptcy
Code, 11 U.S.C. § 362(a)), of: 
(i) the principal sum which is, at any time, advanced and unpaid
under the Swingline Facility (as defined in the Credit Agreement), not to
exceed Five Million Dollars ($5,000,000.00) at any one time, all on a revolving
line of credit basis; (ii) interest and other charges accrued on said
principal sum, or accrued on interest and other charges then outstanding under
the Swingline Facility (all including, without limitation, interest and other
charges that, but for the filing of a petition in bankruptcy with respect to
any of the Borrowers, would accrue on such obligations); and (iii) any
other obligations of Borrowers under the S/L Note referred to below; all
according to the terms and conditions of a Swingline Note dated August 15,
2000, which is made by Existing Borrowers (and assumed by PIDI) and payable to
the order of the Swingline Lender according to the tenor and effect of said
Swingline Note, and all renewals, extensions, amendments, restatements,
replacements, substitutions and other modifica­tions thereof (hereinafter
collectively referred to as the "S/L Note" and, together with the RLC
Note, collectively referred to as the "Note").

                          (c)         Payment and performance of every
obligation, warranty, representation, covenant, promise and agreement of
Borrowers, or any of them, contained in that certain Certificate and
Indemnification Regarding Hazardous Substances, which was executed by Borrowers
and delivered to Secured Party under date of December 20, 1999, together with
all extensions, renewals, amendments, restatements and other modifications
thereof.

                          (d)        Payment and performance of every obliga­tion,
covenant, promise and agreement of Debtor contained in this Agreement or
incorporated into this Agreement by reference, including any sums paid or
advanced by Secured Party or any of the Banks pursuant to the terms hereof.

                          (e)         Payment of the expenses and costs
incurred or paid by Secured Party or any of the Banks in the preservation and
enforcement of the rights and remedies of Secured Party and the duties and
liabilities of Debtor under this Agreement, including, but not by way of
limitation, reasonable attorney's fees, court costs, witness fees, expert
witness fees, collection costs, and reasonable costs and expenses paid by
Secured Party or any of the Banks in performing for Debtor's account any
obligation of said Debtor.

                          (f)         Payment of any sums which may hereafter
be owing by Borrowers, or any of them, to any of the Banks or any of their
affiliates, under the terms of any interest rate swap agreement, interest rate
cap agreement, basis swap agreement, forward rate agreement, interest collar
agreement or interest floor agreement to which Borrowers, or any of them, may
be a party, or under any other agreement or arrangement to which Borrowers, or
any of them, may be a party, which in each case is designed to protect
Borrowers, or any of them, against fluctua­tions in interest rates or currency
exchange rates with respect to any indebtedness secured by this Agreement.

                          (g)        Payment of additional sums and interest
thereon which may hereafter be loaned to Borrowers, or any of them, pursuant to
the Credit Agreement when evidenced by a promissory note or notes which recite
that this Agreement is security therefor.

                          (h)        Performance and payment of every
obligation, warranty, representation, covenant, agreement and promise of
Borrowers, or any of them, which are contained in the Credit Agreement and in
the Loan Documents which are defined therein."

                           2.          Article 9 of the Commercial Code (as
defined in the Original Security Agreement), as in effect on the date of the
Original Security Agreement ("Previous Article 9") has been amended
pursuant to Sections 1 through 135 of Chapter 104, Statutes of Nevada
1999, at Page 281, et seq. in the State of Nevada, pursuant to W.Va. §§ 46–9–101,
et seq., revised in the State of West Virginia and pursuant to §§ Del.C. 9-101,
et seq., revised in the State of Delaware. 
Previous Article 9, as so amended, is referred to herein as
"Revised Article 9". 
Grantor hereby additionally grants a security interest to Secured Party
as security for the Secured Obligations, in and to the following collateral
(the "Additional Collateral"), subject to the terms and conditions of
the Existing Security Agreement, as amended hereby:

"All
right, title and interest of Grantor, which is now owned or hereafter acquired
in, and to, all present and future: (i) accounts; (ii) chattel paper;
(iii) commercial tort claims; (iv) deposit accounts;
(v) documents; (vi) equipment, inventory and other goods of any kind
or nature; (vii) instruments; (viii) investment property;
(ix) letter of credit rights; (x) money; (xi) general
intangibles; and (xii) proceeds of any of the foregoing; all as defined by
Revised Article 9."

The "Collateral" which is
defined by the Existing Security Agreement is referred to herein as the "Existing
Collateral".  The Additional
Collateral shall be in addition to, and not substituted for, the Existing
Collateral.

                           3.          All references herein, and in the
Existing Security Agreement (as amended hereby) to:

                           "Agreement"
shall be to the Existing Security Agreement as amended by the Third Amendment
to Security Agreement.

                           "Collateral"
shall mean a collective reference to the Existing Collateral and the Additional
Collateral.

                           "Commercial
Code" shall mean the Previous Article 9, as amended by Revised
Article 9, and as it may hereafter be amended or recodified from time to
time.

                           "Credit
Agreement" shall mean the Existing Credit Agreement as amended by the
First Amendment to Credit Agreement and as it may hereafter be renewed,
extended, amended, restated or otherwise modified.

                           "Third
Amendment to Security Agreement" shall have the meaning set forth by the
preamble to this instrument.

                           4.          Except as set forth herein, the
Existing Security Agreement shall remain unchanged and of full force and
effect.

                           5.          This Third Amendment to Security
Agreement may be executed in any number of separate counterparts with the same
effect as if the signatures hereto and hereby were upon the same
instrument.  All such counterparts shall
together constitute one and the same document.

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

	DEBTOR:	SECURED PARTY: 
	 	 
	MTR GAMING GROUP, INC.,

  a Delaware corporation            	WELLS FARGO BANK,

  National Association            
	 	 
	 	 
	By	/s/ 
  Edson R. Arneault	By	/s/ 
  Virginia S. Christenson
	 	

	 	

	 	Edson R. Arneault,	 	Virginia S. Christenson,
	 	President	 	Vice President
	 	 

 

	STATE
  OF WEST VIRGINIA	)	 	 	 
	 	)
  ss	 	 	 
	COUNTY
  OF	)	 	 	 

             The
foregoing instrument was acknowledged before me on July ___, 2001, by
EDSON R. ARNEAULT as President of MTR GAMING GROUP, INC.

 

	

	 	 	 
	Notary
  Public	 	 	 
	 	 	 	 
	STATE
  OF NEVADA	)	 	 
	 	)
  ss	 	 
	COUNTY
  OF CLARK	)	 	 

 

             The
foregoing instrument was acknowledged before me on July ___, 2001, by
VIRGINIA S. CHRISTENSON as Vice President of WELLS FARGO BANK, National
Association.

 

	

	 
	Notary
  Public

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