Document:

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                                                                  EXHIBIT 10.9.1

                        AMENDMENT TO KRAMER GROUND LEASE
                        --------------------------------

     M.B. DALITZ, as lessee, and JULIE LaMOYNE NOLEN, DAVID KRAMER, BETTY
BENNETT and RICHARD JAMES TINKLER, as lessor (said parties lessor being
hereinafter collectively referred to as "the Lessor"), are parties to a written
Lease Agreement dated September 1, 1978 (the "Kramer Ground Lease"), which
leases a portion of the land under the SUNDANCE HOTEL AND CASINO building, a
copy of which is attached hereto as Exhibit "1" and incorporated herein by
reference. JULIE LaMOYNE NOLEN has succeeded to the interest in the Kramer
Ground Lease originally held by JEWELL FRENCH NOLEN. M.B. DALITZ has subleased
the premises described in the Kramer Ground Lease (the "Premises") by a written
Sublease dated April 5, 1979, as amended by an Amendment to Sublease dated
September 24, 1980, to SUNDANCE HOTEL AND CASINO, INC., a Nevada corporation
("SUNDANCE"). SUNDANCE subleased the Premises by a Sublease Agreement dated
October 1, 1981 to SUNDANCE ASSOCIATES, a Nevada limited partnership
("ASSOCIATES"). M.B. DALITZ has assigned his interest in the Kramer Ground
Lease to the M.B. DALITZ REVOCABLE TRUST ("TRUST"). The TRUST is sometimes
hereinafter referred to as "the Lessee".

     Other portions of the land under the SUNDANCE HOTEL AND CASINO building
have been leased and assigned to TRUST as lessee and ultimately to ASSOCIATES
as sublessee through two other ground leases (and subsequent assignments), one
by ground lessor A.W. HAM, JR., Trustee under the Wills of A.W. HAM and ALTA M.
HAM, deceased ("Ham Ground Lease"), and the other by ground lessor LAS VEGAS
LODGE NO. 32, FREE
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AND ACCEPTED MASONS ("Masons Ground Lease"). The ground lessors under the
Kramer Ground Lease, the Ham Ground Lease and the Masons Ground Lease are
hereinafter referred to collectively as "the Ground Lessors".

     The Public Employees Retirement System of Nevada ("PERS") is extending
permanent financing with a loan in the sum of $29,050,000.00 to M.B. DALITZ and
the M.B. DALITZ REVOCABLE TRUST for the SUNDANCE HOTEL AND CASINO project which
is built partially on the Premises, which loan is secured by a Deed of Trust
and Assignment of Rents ("PERS Deed of Trust") on the Premises and other
property and by other loan documentation. In consideration for PERS making the
loan to enable the permanent financing of the SUNDANCE HOTEL AND CASINO project
("Sundance Loan") and other valuable consideration, the parties hereto agree
that the Kramer Ground Lease is hereby amended as follows:

     1. Notices of Default: FIRST INTERSTATE BANK, Trust Department, 302 East
Carson Street, Las Vegas, Nevada 89101, and PERS shall be given a written
notice of any claimed default under the Kramer Ground Lease by any party
claiming the default. PERS shall have the right, but not the duty or
obligation, to cure any default under the Kramer Ground Lease, as provided in
paragraph 4 below. The right to cure shall include the right to enter the
Premises if necessary to effect a cure.

        (a) Under the Sundance Loan documents, PERS shall require its borrower
  to deposit the full amount of all rent payments required under the Kramer
  Ground Lease with FIRST INTERSTATE BANK of Nevada at least fifteen (15) days
  before each such payment is due, and FIRST INTERSTATE BANK of Nevada shall at
  all times be

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   under instructions to honor any request from Lessor for payment under the
   Kramer Ground Lease immediately upon receipt thereof. Lessor, Lessee and
   PERS will execute the necessary escrow instructions to FIRST INTERSTATE
   BANK to implement the purposes of this paragraph and this Amendment as they
   relate to duties of the FIRST INTERSTATE BANK. Said escrow instructions will
   provide, without limitation, that FIRST INTERSTATE BANK shall, on each date
   upon which rent payments are required to be deposited with FIRST INTERSTATE
   BANK under this subparagraph, send to each Ground Lessor a written notice
   stating whether and to what extent such payments have in fact been deposited
   on such date. Lessee will pay FIRST INTERSTATE BANK for any services required
   by this Amendment or any escrow or collection account established as a result
   of this Amendment.

     2. Amendments: The Kramer Ground Lease shall not be amended or modified
except by written agreement signed by all parties to the Kramer Ground Lease,
with the prior written approval of PERS, which approval will not be
unreasonably withheld so long as PERS's security for the Sundance Loan is not
impaired or destroyed.

     3. PERS Lien-Greater Estate: The lien of the PERS Deed of Trust and
security agreement securing the payment of the Sundance Loan and encumbering
the leasehold estates of the M.B. DALITZ REVOCABLE TRUST, M.B. DALITZ,
SUNDANCE, and ASSOCIATES, will automatically attach and encumber any greater
estate that the M.B. DALITZ REVOCABLE TRUST, M.B. DALITZ, SUNDANCE, or
ASSOCIATES, or their successors or assigns may obtain in the Premises in the
future.

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     4. Default:
          (a) In the event of a default under the Kramer Ground Lease by the
Lessee thereunder, which default can be fully cured by the payment of money,
including but not limited to the payment of rent, insurance premiums, taxes, or
any other monetary obligation of Lessee under the Kramer Ground Lease, whether
to the Lessor or to some other person or entity, Lessor shall not terminate the
Kramer Ground Lease by reason of such default without first affording PERS the
opportunity to cure such default. PERS shall have ten (10) business days after
receipt of a notice of such default mailed to PERS and to PERS's designee, FIRST
INTERSTATE BANK of Nevada, pursuant to paragraph 1 hereof in which to effect
such cure in accordance herewith and with the terms of the Kramer Ground Lease,
including but not limited to the payment of any interest or other charges
imposed by reason of such default. In the event PERS fails to effect such cure
within said ten (10) business days, Lessor may exercise any and all remedies
available to it under the terms of the Kramer Ground Lease or this Amendment,
including, without limitation, termination of the Kramer Ground Lease,
provided, however, that the Kramer Ground Lease shall not be terminated until 5
business days after receipt of a notice mailed to PERS and to PERS' designee
FIRST INTERSTATE BANK stating that the default has not been cured and that in
five (5) days after receipt of this notice the Kramer Ground Lease is terminated
unless the default is cured as noticed. A cure made after the ten (10) business
days notice has expired will be effective to cure the

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default so long as it has been made or tendered prior to the expiration of the
final five (5) day notice of termination. No cure made or effected pursuant to
this subparagraph (a) shall be deemed completed unless and until PERS shall
have reimbursed Lessor in full for any and all damages, costs and expenses
incurred by Lessor as a proximate result of such default.

          (b) In the event of a default under the Kramer Ground Lease by the
Lessee thereunder, which default cannot be fully cured by the payment of money
as provided in subparagraph (a) above, Lessor shall not terminate the Kramer
Ground Lease by reason of such default without first affording PERS the
opportunity to cure such default. PERS shall have thirty (30) days after receipt
of a notice of such default mailed to PERS pursuant to paragraph 1 hereof in
which to effect such cure if such default can be cured within said thirty (30)
days, or if such default cannot be fully cured within said thirty (30) days,
PERS shall have a reasonable time within which to cure such default (taking into
account the effect of any applicable bankruptcy statutes or proceedings or other
operation of law); provided, however, PERS must commence the curing thereof
within said thirty-day period and must thereafter diligently pursue such cure
to completion. In the event PERS is unable to effect such a cure without first
obtaining possession of the Premises, Lessor shall not terminate the Kramer
Ground Lease by reason of such default, provided that immediately after receipt
of Lessor's notice of default under paragraph 1 hereof PERS exercises the right
to proceed as quickly as allowed by law (including the

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effect of any applicable bankruptcy statutes or proceedings or other operation
of law) to foreclose its lien or enforce its rights under the PERS Deed of
Trust, Sundance Loan commitment, and other Sundance Loan documents and cures
such default within thirty (30) days (as set forth above in this subparagraph
(b)) after completion of the foreclosure proceedings, and provided further that
after obtaining possession of the Premises PERS keeps and performs all of the
terms, covenants and conditions of the Kramer Ground Lease, including the
payment of rent under the Kramer Ground Lease, as provided in paragraph 5 below.
In the event PERS fails to effect such cure within the times and under the
conditions specified in this subparagraph (b), Lessor may exercise any and all
remedies available to it under the terms of the Kramer Ground Lease or this
Amendment, including, without limitation, termination of the Kramer Ground
Lease, provided however, that the Kramer Ground Lease shall not be terminated
until five (5) business days after receipt of a notice of default mailed to PERS
and to PERS' designee FIRST INTERSTATE BANK stating that the default has not
been cured and that in five (5) days after receipt of this notice the Kramer
Ground Lease is terminated unless the default is cured as noticed. A cure made
or tendered prior to the expiration of the final five (5) day notice of
termination will be effective to cure the default. No cure made or effected
pursuant to this subparagraph (b) shall be deemed completed unless and until
PERS shall have reimbursed Lessor in full for any and all damages, costs and
expenses incurred by Lessor as a proximate result of such default.

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        (c) The provisions of this Amendment regarding notices of default and
  the time for curing defaults under the Kramer Ground Lease shall supersede any
  provisions in the Kramer Ground Lease regarding notices of default and the
  time for curing defaults.

     5. PERS Foreclosure, Lease Assumption: PERS agrees that in the event that
it acquires the Kramer leasehold estate by foreclosure or transfer in lieu of
foreclosure, or by assignment of the Kramer Ground Lease, it shall thereby
assume the Kramer Ground Lease and be bound by all of the terms and provisions
thereof and perform all of the covenants to be performed by Lessee thereunder,
all as though it were the originally named Lessee thereunder; provided,
however,  that the assignment provisions of paragraph XXII of the Kramer Ground
Lease shall be superseded by the provisions of paragraph 6 below.

     6. Assignment of Lease, $1 Million Dollar Trust Fund: From and after the
closing of the Sundance Loan transaction and prior to a foreclosure or transfer
to PERS in lieu of foreclosure under the PERS Deed of Trust, neither the Kramer
Ground Lease nor any part thereof or interest therein or thereunder (including,
without limitation, any security interest or sublease interest) shall be
assignable or otherwise transferrable by the Lessee or any sublessee, either
voluntarily or by operation of law; provided that (1) the Kramer Ground Lease
shall be assignable to PERS in accordance with the assignment of lease and
assignment of rents contained in the PERS Deed of Trust and to PERS or any
third party in connection with any foreclosure or transfer to PERS in lieu of
foreclosure under the PERS Deed of Trust, (2) following any foreclosure or
transfer in lieu of

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foreclosure, the Kramer Ground Lease shall be freely assignable, and (3)
following the death of M.B. DALITZ, the Lessee may assign the Kramer Ground
Lease to a third party with the approval of the Lessor, which approval will not
be unreasonably withheld, subject to any assignment restrictions contained in
the PERS Deed of Trust. In consideration for the Lessor's agreement to the
foregoing, it is agreed that the fund established by this paragraph shall be
preserved at all times during the term of the Kramer Ground Lease and
transferred upon assignment as provided herein.

        (a) At the time of the funding of the permanent Sundance Loan by PERS,
  a One Million Dollar ($1,000,000.00) cash fund (the "fund") shall be
  transferred to PERS by the Lessee and shall be held by PERS and used to cure
  any defaults under the Kramer, Ham or Masons Ground Leases, to pay claims of
  any of the Ground Lessors under the Kramer, Ham, or Masons Ground Leases
  against the Lessee or any sublessee and to take such other action as appears
  necessary or advisable to cure any defaults under the Kramer, Ham or Masons
  Ground Leases and keep the PERS Deed of Trust from being affected by a
  threatened termination of any or all of said Ground Leases and keep all of
  said Ground Leases in good standing. The fund shall be held in trust by PERS
  for the benefit of the Ground Lessors under the purposes stated herein, and
  said trust shall be irrevocable.

        (b) PERS will invest the cash trust funds as directed by the Lessee,
  provided however that the investment is in PERS' sole discretion sufficiently
  liquid and negotiable to enable PERS to perform the requirements

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  of the trust and to obtain the cash from the fund as necessary to satisfy the
  conditions of this Amendment. PERS will not be responsible or liable in any
  way for a loss of return on the investment or a loss of the principal invested
  whether the investment is reasonable or not, the responsibility and risk for
  which shall be solely with the Lessee. All income derived from the investment
  of the trust funds will be paid to Lessee. All losses to principal suffered as
  a result of the investment will be immediately reimbursed by the Lessee,
  SUNDANCE and/or ASSOCIATES as required by subparagraph (e) of this paragraph
  to maintain at all times a trust principal having a market value of at least
  $1 Million.

        (c) In the event PERS no longer is the secured lender on the Sundance
  Hotel and Casino property, then PERS will appoint the FIRST INTERSTATE BANK as
  the Trustee of said trust on the same terms and conditions herein stated, and
  transfer the funds then held in trust to the FIRST INTERSTATE BANK.

        (d) In the event that PERS makes a payment from the fund, or in the
  event the principal has been reduced or depleted because of the investment of
  the funds, it shall give notice to SUNDANCE, ASSOCIATES, the Ground Lessors
  and Lessee of such payment and the amount, payee and purpose for the claim
  paid, or loss of investment. In the event that PERS shall fail to give such
  notice, then such notice may be given by any of the Ground Lessors. Within
  ten (10) days of receipt of said notice, the fund shall be replenished by the
  Lessee, SUNDANCE and/or ASSOCIATES (jointly and severally) in the amount paid
  out or investment lost, so that the

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  fund will at all times have a market value of at least $1 Million. Failure
  to replenish the fund within said time period shall constitute a default
  under the PERS Deed of Trust. Notwithstanding the foregoing, however, failure
  to replenish the fund as aforesaid shall not constitute a default under the
  Kramer Ground Lease unless and until the Sundance Loan is completely repaid
  in accordance with its terms; provided that, in the event of such failure to
  replenish, (1) PERS must commence and diligently prosecute foreclosure
  proceedings under the PERS Deed of Trust, and (2) Lessee, SUNDANCE, ASSOCIATES
  and any guarantor of the obligations of Lessee under the Kramer Ground Lease
  shall be personally and jointly and severally responsible and liable to
  Lessor to effect such replenishment, and their liability in this regard shall
  be specifically enforceable.

        (e) PERS shall give all parties an annual report of the $1 million trust
  fund activities, transactions and value written sixty (60) days after each
  anniversary date of the establishment of the fund.

        (f) In the event PERS forecloses its Deed of Trust and thereafter
  assumes the Kramer Ground Lease, PERS will be relieved of any and all
  liabilities under the Kramer Ground Lease when it assigns the Kramer Ground
  Lease (subject to PERS' obligation to transfer the fund to FIRST INTERSTATE
  BANK under subparagraph (c), above), and the new assignee shall be solely
  responsible for each and every obligation under the Kramer Ground Lease.

In the event that, following the death of M. B. DALITZ, the Lessee shall seek to
assign the Kramer Ground Lease to a third party pursuant to clause (3) of the
proviso to the

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first sentence of this paragraph 6, and, pursuant to said clause, the Lessor
shall refuse to approve such assignment, then the Lessor's determination to
withhold such approval shall be conclusively deemed to have been reasonable
unless, within fifteen (15) days after notice from the Lessor of the Lessor's
determination, the Lessee shall elect to have the matter submitted for
determination by arbitration in accordance with the commercial rules then
obtaining of the American Arbitration Association, which such submission to
arbitration shall be the sole remedy of the Lessee for any such withholding of
approval by the Lessor. In the event of any such submission to arbitration, the
sole issue for arbitration shall be the determination as to whether the
withholding of approval by the Lessor shall have been reasonable or
unreasonable, and in the event that a determination shall be made that the
withholding of approval by the Lessor was unreasonable, then the decision shall
annul such withholding or approval, such annulment being the sole remedy of the
Lessee, it being the intention of the parties hereto (as to which they are
conclusively bound) that in no event shall any such withholding of approval by
the Lessor, or any decision in arbitration with respect thereto (1) impose any
financial liability upon or result in any damages being recoverable from the
Lessor and/or (2) create any right cognizable or remedy enforceable against the
Lessor in law or equity, or under any special statutory proceeding, or at all
(except by arbitration as aforesaid). The expenses of any such arbitration
(including, without limitation, the reasonable attorney's fees and expenses of
the parties thereto) shall be paid by the Lessee.

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     7. No Merger of Interests: There will be no merger of the leasehold and
fee estates if any party acquires both interests, unless PERS consents in
writing to a merger.

     8. Casualty Insurance:

          (a) At all times from the date of closing of the Sundance Loan
   transaction until the termination of the last to expire of the Kramer, Ham
   and Masons Ground Leases, whether or not the Sundance Loan has theretofore
   been repaid, casualty insurance on the improvements located upon the Premises
   and on any improvements located upon any other real property comprising a
   part of the hotel, casino, garage, restaurant or other operations of which
   the improvements located upon the Premises comprise a part (all of said
   improvements, whether or not located on the Premises, being hereinafter
   collectively referred to as "the Hotel") shall be carried by Lessee,
   SUNDANCE, ASSOCIATES and their respective successors and assigns on the terms
   set forth in the PERS Deed of Trust, as set forth in the copy thereof which
   is attached hereto as Exhibit "2" and incorporated herein by reference. All
   proceeds of such casualty insurance shall be made payable jointly to the
   Ground Lessors, M. B. DALITZ, Lessee, SUNDANCE, ASSOCIATES, PERS and their
   respective successors and assigns. Current certificates evidencing such
   insurance, and copies of the insurance policies, in form and substance
   acceptable to the Ground Lessors shall be furnished by Lessee to the Ground
   Lessors at all times during the terms of the Kramer, Ham and Masons Ground
   Leases.

          (b) In the event of a partial or total damage to or destruction of
   the Hotel, any one of PERS, M. B.

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<PAGE>
   DALITZ, Lessee or any Ground Lessor or any of their respective successors or
   assigns may elect to require the complete restoration thereof. In the event
   of such election, any casualty insurance proceeds which are payable in
   connection with the damage or destruction shall be applied to such
   restoration, and, in the absence or insufficiency of any such insurance
   proceeds, M. B. DALITZ, Lessee, SUNDANCE and ASSOCIATES shall be jointly and
   severally liable and responsible for contributing the necessary funds. Prior
   to the complete repayment of the PERS Deed of Trust, PERS or its successor or
   assign shall control the disbursement of all moneys required to be applied to
   any such restoration, in accordance with the terms and conditions of the PERS
   Deed of Trust. After the complete repayment of the PERS Deed of Trust, such
   moneys shall be controlled jointly by the Ground Lessors, M. B. DALITZ,
   Lessee, SUNDANCE, ASSOCIATES and their respective successors and assigns. In
   the event no election to restore is made by any party under this
   subparagraph, or in the event that available casualty insurance proceeds
   exceed the amount necessary to effect a complete restoration of the damage or
   destruction, then any casualty insurance proceeds not needed for such
   restoration in accordance with the terms hereof shall be allocated to PERS to
   completely satisfy the Sundance Loan as specified in the PERS Deed of Trust,
   and then to compensate the Ground Lessors fully as their interests may
   appear, and then the balance to M. B. DALITZ, Lessee, SUNDANCE and ASSOCIATES
   as their respective interests may appear.

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          (c) None of the provisions of the two preceding subparagraphs shall
   affect in any manner the provisions of the first sentence of Paragraph XI
   of the Kramer Ground Lease, and there shall be no reduction, abatement,
   adjustment or interruption of rent or any other required payments under the
   Kramer Ground Lease by reason of or in connection with any damage or
   destruction, or any restoration or rebuilding in connection therewith.

     9.   Liability Insurance: Lessee shall provide at its sole cost and
expense comprehensive General Liability and Broad Form Comprehensive Liability
Insurance coverage in limits of $5 Million each occurrence and $5 Million
aggregate, and Automobile Liability in limits of $1 Million each occurrence and
$1 Million aggregate with endorsements to fully protect all of the Ground
Lessors. The insurance shall be re-examined by the parties from time to time but
no less often than every three (3) years from the date of this Amendment for the
purpose of determining that the limits of insurance and the coverage is adequate
and customary for the structures and risks involved in the operation of the
Hotel and to adjust the policies if necessary. Current certificates evidencing
such insurance, and copies of the insurance policies, in form and substance
acceptable to the Ground Lessors shall be furnished by Lessee to the Ground
Lessors at all times during the terms of the Kramer, Ham and Masons Ground
Leases.

     10.  Notices: Any notice to be given under this Amendment or any payment
to be made to Lessor shall be addressed to the party and sent by certificated
or registered mail addressed to:

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<PAGE>
          PERS:

          Public Employees Retirement System Of Nevada
          693 West Nye Lane
          Carson City, Nevada 89701

          DALITZ -- Lessee:

          M. B. Dalitz or the M. B. Dalitz Revocable Trust
          3111 Maryland Parkway
          Las Vegas, Nevada 89101

          SUNDANCE:

          Sundance Hotel and Casino, Inc.
          301 East Fremont
          Las Vegas, Nevada 89101

          ASSOCIATES:

          Sundance Associates
          301 East Fremont
          Las Vegas, Nevada 89101

          LESSOR:

          Julie LaMoyne Nolen, David Kramer,
          Betty Bennett and Richard James
          Tinkler
          c/o Frank W. Clark, Jr., Esq.
          Parker, Milliken, Clark & O'Hara
          333 South Hope Street, 27th Floor
          Los Angeles, California 90071

          FIRST INTERSTATE BANK:

          First Interstate Bank
          Trust Department
          302 East Carson Street
          Las Vegas, Nevada 89101

     11.  Attorney's Fees and Costs: In the event any party to this Amendment
institutes legal proceedings to determine or to enforce its legal rights
arising hereunder or in connection herewith, the prevailing party shall be
entitled to such reasonable attorney's fees and costs as it may incur in
connection therewith.

     12.  Lessee Defined: All references to "Lessee" herein shall be deemed to
include any and all assignees or sublessees of the Lessee under the Lease.

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<PAGE>
     13. Limit of Amendment: This Amendment shall become effective upon the
closing of the Sundance Loan transaction. To the extent of any conflict or
inconsistency between the terms of this Amendment and the terms of the Kramer
Ground Lease, the terms of this Amendment shall prevail and take precedence.
Subject to the preceding sentence, however, all terms and conditions of the
Kramer Ground Lease are hereby ratified and affirmed and shall remain in full
force and effect.

     DATED this 20th day of December, 1982.

/s/ JULIE LaMOYNE NOLEN                     M.B. DALITZ REVOCABLE TRUST
------------------------------
JULIE LaMOYNE NOLEN

/s/ DAVID KRAMER                            By: /s/ M.B. DALITZ
------------------------------                  -----------------------------
DAVID KRAMER                                    M.B. DALITZ, Trustee

/s/ BETTY BERNETT                           /s/ M.B. DALITZ
------------------------------              ---------------------------------
BETTY BERNETT                               M.B. DALITZ

                                            SUNDANCE HOTEL AND CASINO,
/s/ RICHARD JAMES TINKLER                   INC., a Nevada corporation
------------------------------
RICHARD JAMES TINKLER

                                            By: /s/ ALLAN D. SACHS
                                                -----------------------------
                                                ALLAN D. SACHS, President

PUBLIC EMPLOYEES RETIREMENT ATTEST:
     SYSTEM OF NEVADA

                                            By: /s/ HERBERT L. TOBMAN
                                                -----------------------------
                                                Herbert L. Tobman, Secretary

By: /s/ WILBUR K. KEATING
    --------------------------
    WILBUR K. KEATING
    Executive Officer

                                       16
<PAGE>
SUNDANCE ASSOCIATES, a Nevada
limited partnership

By: /s/ ALLAN D. SACHS
    -----------------------
    ALLAN D. SACHS,
    General Partner

By: /s/ HERBERT L. TOBMAN
    -----------------------
    HERBERT L. TOBMAN,
    General Partner

By: /s/ JAY E. HECHTMAN
    -----------------------
    JAY E. HECHTMAN,
    General Partner

By: SUNDANCE HOTEL AND CASINO, INC.,
    General Partner

    By: /s/ ALLAN D. SACHS
        -------------------------
        ALLAN D. SACHS, President

ATTEST:

By:
    -------------------------
                   Secretary

                                       17
<PAGE>

STATE OF NEVADA )
                :  SS.
COUNTY OF CLARK )

     On December 20, 1982, personally appeared before me, a Notary Public, M.B.
Dalitz, individually, and M.B. Dalitz, Trustee of the M.B. Dalitz Revocable
Trust dated October 8, 1980, as amended December 20, 1982, who acknowledged
that he executed the above instrument.

[SEAL]                    /s/ Irene S. Albrecht
                          ---------------------------------
                          Notary Public

STATE OF NEVADA )
                :  SS.
COUNTY OF CLARK )

     On December 20, 1982, personally appeared before me, a Notary Public,
Allan D. Sachs and Herbert L. Tobmen, known to me to be the President and
Secretary, respectively, of Sundance Hotel and Casino, Inc., who acknowledged
that he executed the above instrument.

[SEAL]                    /s/ Irene S. Albrecht
                          ---------------------------------
                          Notary Public

STATE OF NEVADA )
                :  SS.
COUNTY OF CLARK )

     On December 20, 1982, personally appeared before me, a Notary Public, Allan
D. Sachs and Herbert L. Tobmen, and Herbert L. Tobman, attorney in fact for Jay
E. Hechtman, known to me to be the general partners of Sundance Associates, who
acknowledged that he executed the above instrument.

[SEAL]                    /s/ Irene S. Albrecht
                          ---------------------------------
                          Notary Public

STATE OF NEVADA )
                :  SS.
COUNTY OF CLARK )

     On December 20, 1982, personally appeared before me, a Notary Public,
Allan D. Sachs, known to me to be the President of Sundance Hotel and Casino,
Inc., General Partner

                                       15
<PAGE>

of Sundance Associates, who acknowledged that he executed the above instrument.

[SEAL]                    /s/ Irene S. Albrecht
                          ---------------------------------
                          Notary Public

STATE OF NEVADA )
                :  SS.
COUNTY OF CLARK )

     On January 4, 1983, personally appeared before me, a Notary Public, Wilbur
K. Keating, known to me to an Executive Officer of Public Employees Retirement
System of Nevada who acknowledged that he executed the above instrument.

[SEAL]                    /s/ Irene S. Albrecht
                          ---------------------------------
                          Notary Public

                                       16
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                                  EXHIBIT "1"

LEASE AGREEMENT dated September 1, 1978 by and between JEWEL FRENCH NOLEN and
JELIE NOLEN, DAVID KRAMER and BETTY BENNETT and RICHARD JAMES TINKLE, as
Lessors, and H. E. DALITZ, as Lessee, recorded June 19, 1979 as Document No.
1031691 in Book No. 1072 of official Records.

BY ASSIGNMENT OF LEASES recorded September 12, 1980 as Document No. 1239412 in
Book 1280 of Official Records, the Lessee's interest in the above described
Lease was assigned to MOE B. DALITZ, Trustee under "THE M. E. DALITZ REVOCABLE
TRUST" dated January 25, 1980.

AFFECTING THE FOLLOWING DESCRIBED PROPERTY:

Lots Seventeen (17), Eighteen (18) and Nineteen (19) in Block Thirty (30) of
CLARK'S LAS VEGAS TOWNSITE, as shown by map thereof on file in Book 1 of Plats,
page 37, in the office of the County Recorder of Clark County, Nevada.

SAVING AND EXCEPTING the Southeasterly 15.97 feet of Lot Nineteen (19) in Block
Thirty (30) of CLARK'S LAS VEGAS TOWNSITE, as shown by map thereof on file in
Book 1 of Plats, page 37, in the Office of the County Recorder of Clark
County, Nevada.

TOGETHER WITH all of that portion of the Southwesterly 15.97 feet of Lot
Nineteen (19) and Lot Twenty (20) and that portion of the Northeasterly 5.05
feet of Lot Twenty-one (21), all in Block Thirty (30) of CLARK'S LAS VEGAS
TOWNSITE, as shown by map thereof on file in Book 1 of Plats, page 37, in the
Office of the County Recorder of Clark County, Nevada, lying above that
particular horizontal plane established as elevation 2,033.64 feet based on the
City of Las Vegas Bench Mark No. 06134A11, said elevation being also the top
of a structural concrete floor.<PAGE>
                                                                  EXHIBIT 10.9.2

Recording Requested by and    )
When Recorded Mail to:        )
                              )
Public Employees' Retirement  )
System of Nevada              )
693 West Nye Lane             )
Carson City, Nevada 89701     )
                              )

-----------------------------------------------------------------------------
                   (Space above this line for Recorder's Use)

        LEASE AMENDMENT, ESTOPPEL CERTIFICATE AND CONSENT TO ASSIGNMENT
-----------------------------------------------------------------------------
                                 (KRAMER LEASE)

TO: Public Employees' Retirement System of Nevada ("PERS"); Fremont and Third
    Limited Partnership, a Nevada limited partnership ("Fremont"); Sundance
    Hotel Group Limited Partnership, a Nevada limited partnership ("Sundance");
    and Lincoln Management Company South, a Nevada corporation ("Lincoln"), as
    general partner of Fremont and Sundance.

RE: Lease dated September 1, 1978, by and between M.B. Dalitz Revocable Trust,
    as successor in interest to M.B. Dalitz, as lessee (said M.B. Dalitz
    Revocable Trust being hereinafter referred to as "Lessee"), and Julie
    LaMoyne Nolen, as successor in interest to Jewell French Nolen, John A.
    Kramer, as Trustee of the Trust created by the Will of David Kramer,
    deceased, as successor in interest to David Kramer, and Betty Bennett and
    Richard James Tinkler, as lessors (said parties being hereinafter
    collectively referred to as "Lessor"), for a term of ninety-nine (99) years,
    which Lease, Lessee hereby represents to Lessor, was recorded on June 19,
    1979, in Book 1072 as Document No. 1031691; said Lease having been amended
    by that certain Amendment to Kramer Ground Lease dated December 20, 1982,
    which Amendment, Lessee hereby represents to Lessor, was recorded on January
    5, 1983 in Book 1669 as Document No. 1628019, said Lease, as amended by said
    Amendment, being hereinafter referred to as the "Lease"; said Lease covering
    the premises located in Las Vegas, Clark County, Nevada more particularly
    described as Lots 17, 18, and 19 in Block 30 of Clark's Las Vegas Townsite,
    as shown by the map thereof on file in Book 1, page 37, in the Office of the
    County Recorder (the "Premises").
<PAGE>

Gentlemen:

     The undersigned certify and represent unto PERS, Fremont, Sundance, and
Lincoln, in respect of the Lease, as follows:

     (i)   The undersigned are owners of record of the Premises, and each of
them certifies such on behalf of himself or herself only and that he or she is
duly authorized to execute and deliver this Lease Amendment, Estoppel
Certificate and Consent to Assignment.

     (ii)  The undersigned, collectively, are the current Lessor under the
Lease, and each of them certifies, on behalf of himself or herself only, that he
or she has not assigned or agreed to assign his or her interest as a Lessor
under the Lease in whole or in part. The current address for notices, demands,
and communications to the Lessor under the Lease is as follows:

           Mr. John A. Kramer
           231 North Glenroy Place
           Los Angeles, California 90049

                     and

           Ms. Julie LaMoyne Nolen
           2549 Malabar Avenue
           Las Vegas, Nevada 89121

                     and

           Ms. Betty Bennett and
           Mr. Richard James Tinkler
           1228-G Westlake Boulevard
           Westlake Village, California 91361

     (iii) To the best knowledge of the undersigned, the M.B. Dalitz Revocable
Trust is the current Lessee under the Lease and is entitled to all rights and
benefits of the Lessee under the Lease.

     (iv)  The Leased Property is the Premises as set forth above.

     (v)   Attached hereto as Exhibit "A", and incorporated herein by this
reference, is a true, correct and complete copy of the Lease, as in effect as of
the date hereof; and the Lease constitutes the entire agreement between Lessor
and Lessee and has not been in any respect modified, altered or amended, except
as set forth above.

                                       2
<PAGE>
          (vi)  The Lease is in full force and effect, and, to the best of
Lessor's knowledge and belief, the Lessee is not in any respect in default
under the terms and provisions of the Lease (nor is Lessor aware of any fact or
condition which, with notice or the passage of time or both, will become such a
default); provided, however, that Lessor does not waive its right to assert a
default under the terms and provisions of the Lease for any default occurring
after the date hereof. In the event that, unbeknownst to Lessor, Lessee is in
fact in default under the Lease as of the date hereof, Lessor's remedies with
respect to any such existing default shall be limited to an action for damages
and/or specific performance against Lessee and/or Fremont, and Lessor shall not
terminate the Lease on account of any such existing default.

          (vii) Lessee has accepted possession of the Premises and is paying
rent on a current basis.

          (vii) The term of the Lease commenced on September 1, 1978, and,
subject to the terms and conditions of the Lease, will end on August 31, 2077.

          (ix)  The rent under the Lease is currently $8,339.51 per month,
subject from time to time to adjustment as provided in the Lease and as
provided for below. Such amount is to be paid to the parties (with one-third of
said amount being paid to each of the three parties comprising Lessor) and at
the places set forth in (ii) above, subject to change of such parties and
places as  provided in the Lease. Without limitation of any other payment
or other obligations of Lessee under the Lease, Lessee also must pay all real
property taxes assessed against the Premises.

          (x)   To the best of Lessor's knowledge and belief, Lessor has no
present set-offs, claims or defenses to the enforcement of the Lease and no
present reason, claim, or grounds to terminate the Lease or declare a default
thereunder. In the event that, unbeknownst to Lessor, Lessor in fact has a
present set-off, claim or defense to the enforcement of the Lease or a present
reason, claim, or ground to terminate the Lease or declare a default thereunder
as of the date hereof, Lessor's remedies with respect to the enforcement of any
same shall be limited to an action for damages and/or specific performance
against Lessee and/or Fremont, and Lessor shall not terminate the Lease on
account thereof.

          (xi)  The sum of $8,337.51, as and for rent, and the sum of $0, as
and for other charges, have been paid by Lessee in advance for the period from
August 1, 1987 to August 31, 1987.

          (xii) No portion of any security deposit has been applied to cure any
default under the Lease.
<PAGE>
          (xiii)    To the best of Lessor's knowledge and belief, (a) there are
no uncured defaults by Lessee under the Lease, and (b) the insurance presently
maintained by the Lessee complies with all requirements of the Lease.

          (xiv)     Lessor hereby approves and consents to the assignment of
Lessee's interest in the Premises and Lessee's interest in the Lease by Lessee
to Fremont; provided, however, that such approval and consent shall not release
any obligation of Lessee or any other person or entity under the Lease, that,
Notwithstanding such approval and consent, Lessee and any other persons and
entities liable under the Lease shall remain fully liable for the obligations
of the Lessee under the Lease during the remaining term of the Lease, and that
Fremont shall assume the obligations of the Lease as hereinafter provided for
from and after the effective date of Lessee's assignment to Fremont to and
until such time as Fremont shall properly assign (after obtaining any consent
or approval form Lessor that may then be required under the Lease) its interest
in the Premises and the Lease, at which time Fremont shall be released and
discharged from any and all obligations of the Lease that may thereafter accrue
and any further obligation to Lessor that may thereafter arise; and provided
further that no such release and discharge of Fremont from said Lease
obligations and no such consent and approval by Lessor to such an assignment by
Fremont of its interest in the Premises and the Lease shall release any
obligation of Lessee under the Lease.

          (xv)      Lessor's consent to and approval of said assignment shall
in no manner be construed to constitute a subordination of or agreement to
subordinate Lessor's reversionary interest in the Premises or a waiver or
modification of any rights of Lessor under the Lease and, in particular, and
without limitation of the foregoing, shall not be deemed a waiver of (a) the
provisions of the Lease that generally prohibit assignments, subleases and
other transfers of interests under the Lease or of the applicability of said
provisions to any other or future transaction, or (b) the provisions of the
hereinabove-mentioned Amendment to Kramer Ground Lease that provide, inter
alia, for PERS to maintain at all times a $1,000,000.00 cash fund as security
for the performance of Lessee's obligations under the Kramer, Ham and Masons
Ground Leases (as defined in said Amendment to Kramer Ground Lease), it being
expressly understood and agreed that said $1,000,000.00 cash fund shall remain
in existence, in accordance with the requirements of said Amendment to Kramer
Ground Lease, at all times during the remaining term of the Lease.

          (xvi)     Lessor has been advised that Lessee intends to sell and
assign Lessee's right, title and interest in and to, among other things, that
complex commonly know as the Sundance Hotel and Casino, Las Vegas, Nevada (the
"Sundance Property")

                                       4
<PAGE>
(including, without limitation, all of Lessee's right, title and interest in the
leasehold estate in the Premises pursuant to the Lease, except that Lessee shall
continue to remain liable to Lessor under the Lease) to Fremont pursuant to a
certain Purchase Agreement (hereinafter, "the Purchase Agreement") a copy of
which Purchase Agreement, as amended, has been furnished to Lessor, and Lessor
has been further advised that PERS and Fremont have required the delivery of
this Lease Amendment, Estoppel Certificate and Consent to Assignment by the
Lessor in connection with such acquisition. However, it is understood and agreed
that, notwithstanding anything to the contrary in Section 3 of the Purchase
Agreement, as amended, or otherwise, Lessor's execution of this Lease Amendment,
Estoppel Certificate and Consent to Assignment shall not constitute an agreement
on the part of Lessor to consent to any further amendment to or assignment,
sublease or other transfer of the Lease, any refinancing of any indebtedness
relating to the Premises or any other transaction other than Lessee's assignment
of the Lease to Fremont as contemplated herein and the amendment to the Lease
hereunder to increase the basic monthly rental under the Lease, as provided for
below, and Lessee, Freemont and all other signatories hereto and persons and
entities mentioned herein, by signing or accepting the benefits of this
document, acknowledge and agree that Lessor is undertaking no obligation to
agree to any such thing.

          (xvii) So long as the same may be lawful, Lessor approves of the
nature and the use, as a hotel and gambling casino with related restaurant and
bar facilities, of all improvements placed on the Premises and related property,
including the contiguous nature of the Sundance Hotel and Casino and the parking
structure, and the Pioneer Citizen's Bank of Nevada building, and their use in
conjunction with adjacent properties.

          In consideration for Lessor's consenting hereunder to the assignment
of Lessee's interest in the Premises and the Lease to Fremont, it is agreed by
Lessor, Lessee and Fremont that, effective on the date as of which said
assignment becomes effective:

               (a) The basic monthly rental under the Lease shall be increased
from $8,337.51 to $8,545.95, subject to further increase or decrease as and when
provided for in paragraph III(b) of the Lease;

               (b) For purposes of applying, from and after the date as of which
said assignment becomes effective, the provisions of paragraph III(b)(4) of the
Lease (pertaining to cost-of-living increases in the basic monthly rental under
the lease), the base rent provided for in paragraph III(a) of the Lease shall be
deemed to be $61,500.00 per year (but the base Consumer Price Index of 196.7
referenced in said paragraph III(b)(4) shall not be adjusted or otherwise
affected by reason thereof); and

                                       5
<PAGE>
               (c) For purposes of applying, from and after the date as of
which said assignment becomes effective, the provisions of paragraph III(b)(5)
of the Lease (pertaining to the minimum basic monthly rental under the lease),
the minimum base rent under the Lease shall be deemed to be $61,500.00 per year.

In the event that Lessee's assignment to Fremont shall become effective on
other than the first day of a calendar month, then the increase in the basic
monthly rental provided for in subparagraph (a) of this paragraph shall be
prorated for that month based on the number of days in that month occurring on
or after the date on which such assignment becomes effective. Expect as amended
by this paragraph, the Lease shall remain in full force and effect in
accordance with its terms.

          As required by Sections 3 and 12 of the Purchase Agreement by and
between Fremont as "Buyer" and Lessee as "Seller" for the purchase and sale of
the Sundance Property, the increase in the basic monthly rental under the Lease
from $8,337.51 to $8,545.95, or $208.44, and any increase or decrease allocable
to the amount of said increase in the basic monthly rental as and when provided
for in paragraph III(b) of the Lease, shall be offset monthly by Fremont
against monthly rent due and payable to Lessee pursuant to Section 12.02.5 of
the Purchase Agreement and the Parking Lot Lease, which off-set shall be
provided for by Amendment to Section 12.02.5 of the Purchase Agreement and by
the terms of the Parking Lot Lease for corresponding reductions of the monthly
rental payment by Fremont as "Buyer" to Lessee as "Seller" pursuant to the
Parking Lot Lease. The provisions of the preceding sentence are matters between
Lessee and Fremont that shall be of no concern to Lessor and shall not affect
either Lessee's or Fremont's liability (as elsewhere provided for herein) for
the payment of the full rental that may be payable from time to time under the
Lease, as amended hereby.

          Lessor makes the above statements for the benefit and protection of
Fremont, Sundance and Lincoln, knowing that they will rely on the same in
acquiring the right, title, and interest of Lessee in and to the leasehold
estate upon the Premises pursuant to the Lease and that PERS will rely on the
same in approving Fremont's acquisitions of the Sundance Property under the
Purchase Agreement subject to certain indebtedness to PERS on the Premises.
However, this Lease Amendment, Estopel Certificate and Consent  to Assignment
shall be effective upon, and only upon, the

                                       6
<PAGE>
delivery to Lessor of an original or counterparts hereof duly executed by all
persons and entities whose signatures are provided for below. This document may
be executed in one or more counterparts, each of which shall be deemed an
original hereof, and all of which together shall constitute one and the same
document.

          DATED as of September 23, 1987.

                                    LESSOR:

-----------------------------------           ----------------------------------
Julie LaMoyne Nolen, as                       Betty Bennett
successor in interest to
Jewell French Nolen

                                               /s/ RICHARD JAMES TINKLER
-----------------------------------           ----------------------------------
John A. Kramer, as Trustee of                 Richard James Tinkler
the Trust created by the Will
of David Kramer, decreased

                                       7
<PAGE>
                      AGREEMENT AND ASSUMPTION OF ASSIGNEE

          The undersigned, Fremont and Third Limited Partnership, hereby agrees
to the terms and conditions of the foregoing Lease Amendment, Estoppel
Certificate and Consent to Assignment and hereby assumes the Lease (as defined
above) and agrees to be jointly and severally liable with the Lessee (as defined
above) for the performance of all covenants and obligations of the Lessee under
the Lease to the extent provided for in paragraph (xiv) of said Lease Amendment,
Estoppel Certificate and Consent to Assignment.

               DATED as of October 27, 1987.

                                      FREMONT AND THIRD LIMITED PARTNERSHIP,
                                      a Nevada limited partnership

                                      By: LINCOLN MANAGEMENT COMPANY SOUTH,
                                          a Nevada corporation, its sole
                                          general partner

                                          By: /s/ PHILIP D. GRIFFITH

                                              Its: President
                                                   ------------------

                      AGREEMENT AND UNDERTAKING OF LESSEE

          The undersigned, M. B. Dalitz Revocable Trust, as Lessee under the
Lease, as defined in the foregoing Lease Amendment, Estoppel Certificate and
Consent to Assignment, hereby agrees to the terms and conditions of said
instrument (including, without limitation, the provisions thereof that increase
the basic monthly rental under the Lease) and undertakes to be and remain at all
times liable to the Lessor under the Lease for the performance of all covenants
and obligaitons of the Lessee under the Lease, which liability shall be joint
and several with the assignee referred to in said instrument for as long as said
assignee shall be liable under the Lease, but which liability shall survive, and
be unaffected by, any release of said assignee from liability under paragraph
(xiv) of said instrument.

               DATED as of October 19, 1987

                                          M. B. DALITZ REVOCABLE TRUST

                                          By: /s/ M. B. DALITZ
                                              ------------------------
                                              M. B. Dalitz, Trustee

                                       8
<PAGE>
                       CONSENT AND AGREEMENT OF GUARANTOR

          The undersigned, M. B. Dalitz, individually, as the guarantor under
that certain Guaranty and Agreement executed by him under date of December 20,
1982, in favor of the Lessor under the above-referenced Lease (the "Guaranty
Agreement"), hereby consents to the terms of the foregoing Lease Amendment,
Estoppel Certificate and Consent to Assignment, to the assignment of said Lease
consented to by Lessor thereunder and to the increase in basic monthly rental
provided for therein. Said M. B. Dalitz further agrees that the terms and
conditions of the Guaranty Agreement shall remain in full force and effect as
to the aforesaid lease and that neither Lessor's execution of the foregoing
Lease Amendment, Estoppel Certificate and Consent to Assignment, nor the
assignment of said Lease consented to thereby, nor the increase in basic
monthly rental provided for therein, nor the consummation of any other
transaction contemplated therein, nor the failure of Lessor to obtain any
consent from any other guarantor under the Guaranty Agreement (said M. B.
Dalitz being aware of and agreeing to the fact that Lessor does not intend to
seek the consent of any such other guarantor) shall operate to release,
exonerate or in any way affect the guarantees, promises or obligations of
whatsoever kind undertaken by said M. B. Dalitz pursuant to the Guaranty
Agreement.

          DATED as of October 19, 1987.

                                                  /s/ M. B. Dalitz
                                                  ------------------------------
                                                  M. B. Dalitz

                                       9
<PAGE>
                         CONSENT AND AGREEMENT OF PERS

     The undersigned, Public Employees Retirement System of Nevada ("PERS"), as
the beneficiary under that certain Deed of Trust and Assignment of Rents
securing payment of the Sundance Loan (as defined in the Amendment to Kramer
Ground Lease referred to in the foregoing Lease Amendment, Estoppal Certificate
and Consent to Assignment), hereby consents to the execution of the foregoing
Lease Amendment, Estopple Certicifate and consent to Assignment by Lessor, as
defined in said instrument, to the assignment of Lease consented to by Lessor
under said instrument, and to the increase in basic monthly rental provided for
in said instrument and agrees that the same shall not affect any obligation of
PERS to Lessor under the aforesaid Amendment to Kramer Ground Lease.

                              Dated as of Oct. 26, 1987

                              PUBLIC EMPLOYEES RETIREMENT SYSTEM OF NEVADA

                              By:   /s/ William K. Keating
                                   ----------------------------------------
                              Its: Executive Director

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