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Exhibit 4.1    
  

233
South Wacker Drive, Suite 28

Chicago, Illinois 60606

Tel 312-234-2732

Fax 312-234-3603 

Bank of America, N. A.  

	TO:	Eldorado Resorts LLC

c/o Eldorado Hotel and Casino

P 0 Box 3399

Reno, NV 89505
	

ATTN:	

Bob Jones
	TEL:	775-786-5700
	FAX:	775-343-7513
	

FROM:	

Bank of America, NA.

233 South Wacker Drive—Suite 2800

Chicago, Illinois 60606

Robert OHara / Anik Khambhla

	

Date: revised 06AUG02	 	 	 	 
	

Our Reference No.	
 	

33490	
 	

33489	
 	

 
	

Internal Tracking Nos.	
 	

406203	
 	

406204	
 	

 

THIS CONFIRMATION SUPERSEDES AND REPLACES ANY PREVIOUSLY SENT/EXECUTED CONFIRMATION OF THIS TRANSACTION.

The
purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between Eldorado Resorts LLC and Bank of America, N.A. (each a party and together the
parties) on the Trade Date specified below (the "Transaction). This letter agreement constitutes a Confirmation as referred to in the ISDA Master Agreement specified in paragraph 1 below (the
Agreement). 

The
definitions and provisions contained in the 2000 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc., (the Definitions) are incorporated into this
Confirmation. In the event of any inconsistency between the Definitions and this Confirmation, this Confirmation will govern. 

	1.
	This
Confirmation evidences a complete binding agreement between the parties as to the terms of the Transaction to which this Confirmation relates. In addition, the parties agree to
use all reasonable efforts promptly to negotiate, execute and deliver an agreement in the form of the ISDA Master Agreement (Multicurrency-Cross Border) (the "ISDA Form), with such modifications as
the parties will in good faith agree. Upon the execution by the parties of such an agreement, this Confirmation will supplement, form a part of, and be subject to that agreement. All provisions
contained or incorporated by reference in that agreement upon its execution will govern this Confirmation except as expressly modified below. Until the parties execute and deliver that agreement, this
Confirmation, together with all other documents referring to the ISDA Form (each a Confirmation) confirming transactions (each a Transaction) entered into between the parties (notwithstanding anything
to the contrary in a Confirmation), shall supplement, form a part of, and be subject to an agreement in the form of the ISDA Form as if the parties had executed an agreement in such form (but
without any Schedule) on the Trade Date of the first such Transaction between the parties. In the event of any inconsistency between the provisions of that agreement and this Confirmation, this
Confirmation will prevail for the purpose of this Transaction. 

In
this Confirmation Party A means Bank of America, N.A. and Party B means Eldorado Resorts LLC. 

	2.
	The
terms of the particular Transaction to which this Confirmation relates are as follows: 

	Notional Amount:	 	USD 50,000,000.00
	Trade Date:	 	12JUL02
	Effective Date:	 	15AUG02
	Termination Date:	 	15FEB05, subject to adjustment in accordance with the Modified Following Business Day Convention and "Other Provisions."
	
Fixed Amounts:	
 	

 
	

Fixed Rate Payer:	
 	

Party A
	

Fixed Rate Payer Payment	
 	

 
	Dates:	 	The 15th of each February and Auqust, commencing 15FEB03 and ending 15FEB05, subject to adjustment in accordance with the Modified Following Business Day Convention and "Other Provisions." No Adjustment Of Period End
Dates.
	

Fixed Rate:	
 	

3.85000%
	

Fixed Rate Day Count	
 	

 
	Fraction:	 	30/360
	
Floating Amounts:	
 	

 
	

Floating Rate Payer:	
 	

Party B
	

Floating Rate Payer	
 	

 
	Payment Dates:	 	The 15th of each February and August, commencing 15FEB03 and ending 15FEB05, subject to adjustment accordance with the Modified Following Business Day Convention and "Other Provisions."
	
Floating Rate for initial	
 	

 
	Calculation Period:	 	1.93000%
	

Floating Rate Option:	
 	

USD-LIBOR-BBA
	

Averaging:	
 	

Inapplicable
	

Designated Maturity:	
 	

6 Month
	

Spread:	
 	

None
	

Floating Rate Day Count	
 	

 
	Fraction:	 	Actual/360
	

Reset Dates:	
 	

The last day of each Calculation Period
	

Compounding:	
 	

Inapplicable
	

Business Days:	
 	

New York, London
	

Calculation Agent:	
 	

Party A
	 	 	 

Other Provisions:  

Additional
Optional Termination: 

Notwithstanding
anything to the contrary herein or in the Agreement or the Definitions, Party A may, in its sole discretion and at its expense, terminate this Transaction on any day from and including
15AUG03 to but excluding 15FEB05 (the Optional Termination Date), in accordance with this Additional Optional Termination provision. The cancellation premium owed by Party A with respect to such
Optional Termination Date is set forth under Section (i) below. Party A may only elect an Optional Termination Date by providing oral (including telephonic) notice of such election to Party B
two New York and London Business Days prior to such Optional Termination Date, on or before 4:30 p.m. New York City time. Party A shall provide written confirmation of any telephonic notice
within one New York and London Business Day of that notice. Failure to provide that written confirmation will not affect the validity of the telephonic notice. 

The
Cash Settlement Amount payable by Party A on the Optional Termination Date shall be calculated as the sum of the following: 

	b)
	The
amount payable on the applicable Fixed Rate Payer Payment Date shall be calculated as the sum of the following:

	(i)
	The
cancellation premium, in accordance with the Optional Termination Date schedule as set forth below: 

	Optional Termination Period
 
	 	Amount
 

	15AUG03 to but excluding 15AUG04	 	USD 875,000.00
	15AUG04 to but excluding 15FEB05	 	USD            0.00

	(ii)
	the
net of the accrued but unpaid amount between the Fixed Rate Payer and the Floating Rate Payer from and including the last Payment Date to but excluding the Optional Termination
Date. 

Nothing
herein shall obligate Party A to elect the Optional Termination Date as provided herein. 

3.    Recording of Conversations:  

Each
party to this Transaction acknowledges and agrees to the tape recording of conversations between the parties to this Transaction whether by one or other or both of the parties or their agents,
and that any such tape recordings may be submitted in evidence in any Proceedings relating to the Agreement and/or this Transaction. 

4.    Account Details:  

	Account for payments to Party A:
	

 	
 	

USD
	NAME:	 	Bank of America, NA.
	CITY:	 	New York
	ABA#:	 	026009593
	ATTN:	 	BOFAUS3N
	NAME	 	Bank of America, N A.
	CITY	 	Charlotte
	ACCT:	 	6550219386
	ATIN:	 	Rate Derivative Settlements
	ATTN:	 	BOFAUSSSGDS
	

Account for payments to Party B:
	

 	
 	

USD
	 	 	 

5.    Offices:  

The
Office of Party A for this

Transaction is:                                Charlotte, NC 

Please
send reset notices to fax no. (312-234-3603) 

The
Office of Party B for this

Transaction is:                                Nevada, USA 

Credit
Support Document: As per Agreement (and Credit Support Annex if applicable). 

Credit
Support Documents: 

Party
B agrees and acknowledges that any and all Collateral, guarantees, or security interests heretofore or hereafter pledged, guaranteed, or granted to Party A pursuant to a Credit Agreement,
guarantee, or related document shall also serve as collateral security for or guarantee of the obligations of Party B hereunder and Party B hereby grants to Party A a continuing security interest in
any and all Collateral heretofore or hereafter pledged to Party A pursuant to a Credit Agreement or related document as security for any and all obligations of Party B hereunder. Party B agrees to
cause any security interest granted pursuant to any Credit Agreement or related document to specifically include the obligations of Party B hereunder as secured obligations thereunder. As may be
specified in the Master Agreement. 

As
used herein, "Collateral means any or all accounts, equipment, general intangibles, instruments, inventory, intellectual property and all proceeds and products of such in which Party B has an
ownership interest or any other property which may be included or more specifically defined in the Credit Agreement. 

Credit
Support Provider:

As may be specified in the Master Agreement. 

Additional
Termination Event: It shall be an Additional

Termination Event with respect to Party B as the Affected Party if Party B

fails to execute and deliver to Bank of America, N.A. an ISDA Master

Agreement and Credit Support Document in form and substance satisfactory to

Bank of America, N.A. on or before October 10, 2002. 

Please
confirm that the foregoing correctly sets forth the terms and conditions of our agreement by returning via telecopier an executed copy of this Confirmation to the attention of Global Derivative
Operations at (fax no.(312) 234-3603). 

	Yours Sincerely,	 	 
	

Bank America, N.A.	
 	

 
	

/s/  DAVE WALKER      
 Dave Walker

Senior Vice President

Authorized Signatory	
 	

 
	

Accepted and confirmed as of the date first written:	
 	

 
	

Eldorado Resorts LLC	
 	

 
	

By:	

/s/  DONALD L. CARANO      
	
 	

 
	Name:	Donald L. Carano
	 	 
	Title:	Chief Executive Officer
	 	 
	

Our Reference # 33490 406203	
 	

 
	 	 	 	 

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Exhibit 4.2    
  

233
South Wacker Drive, Suite 28

Chicago, Illinois 60606

Tel 312-234-2732

Fax 312-234-3603 

Bank of America, N. A.  

	TO:	Eldorado Resorts LLC

c/o Eldorado Hotel and Casino

P 0 Box 3399

Reno, NV 89505
	

ATTN:	

Bob Jones
	TEL:	775-786-5700
	FAX:	775-343-7513
	

FROM:	

Bank of America, NA.

233 South Wacker Drive—Suite 2800

Chicago, Illinois 60606

Robert OHara / Anik Khambhla
	

Date:	

10OCT02
	

Our Reference No. 33490
	

Internal Tracking No. 406203 406204

UNWIND CONFIRMATION FOR SWAP TRANSACTION  

Re:        Letter
Agreement relating to the termination of the Transaction between Eldorado Resorts LLC and Bank of America, N.A. with our Reference Number as set forth above, with an Effective
Date of 15AUG02, Termination Date of 15FEB05 and Notional Amount of USC 50,000,000.00. 

Dear
Sir/Madam, 

We
refer to the above Transaction (the Transaction) and the Confirmation entered into between you and us in relation thereto (the "Confirmation"). Capitalized terms used but not defined in this letter
will have the meanings given to them in the Confirmation and Agreement referred to therein. 

This
letter agreement confirms our mutual agreement on 09OCT02 to terminate this Transaction in advance of its scheduled Termination Date. 

In
consideration of the early termination of this Transaction, USD 903,070.00 will be payable by us to you on or before 11OCT02 in respect of such termination. All future payment obligations of Bank
of America N.A. and Eldorado Resorts LLC under this Transaction will be terminated upon our payment to you of such settlement amount. 

This
letter agreement shall be governed by and construed in accordance with the Governing Law as stated in the Confirmation or if not stated in the Confirmation, then in the Agreement referred to
therein. 

Account Details:  

	Account for payments to Eldorado Resorts LLC:
	

 	
 	

USD
	NAME:	 	Bank of America
	CITY:	 	Nevada
	ABA#:	 	122400724
	NAME:	 	Eldorado Resorts LLC
	ACCT:	 	000470041 054

Please
confirm that the foregoing correctly sets forth the terms and conditions of our agreement by returning via telecopier an executed copy of this Confirmation to the attention of Global Derivative
Operations at (fax no.(312) 234-3603). 

	Yours Sincerely,	 	 
	

Bank America, N.A.	
 	

 
	

/s/  DAVE WALKER      
 Dave Walker

Senior Vice President

Authorized Signatory	
 	

 
	

Accepted and confirmed as of the date first written:	
 	

 
	

Eldorado Resorts LLC	
 	

 
	

By:	

/s/  DONALD L. CARANO      
	
 	

 
	Name:	Donald L. Carano
	 	 
	Title:	Chief Executive Officer
	 	 
	

Our Reference # 33490 406203	
 	

 
	 	 	 	 

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Exhibit 4.2

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