Amended and Restated Guaranty Agreement
This Amended and Restated Guaranty Agreement (“Amendment”) is made 8 day of June 2006, (“Effective Date”) by Victor and
Terina Salerno, a married couple (collectively, “Salernos”), and American Wagering, Inc., a Nevada corporation (“AWI”). This
Amendment amends and restates the prior Guaranty Agreement dated February 7, 2006, in its entirety.
A. Victor Salerno, individually and husband to Terina Salerno, is Chairman of the Board and Chief Executive Officer of American
B. Terina Salerno, individually and wife to Victor Salerno, is General Counsel for American Wagering, Inc.
C. On or about January 30, 2006, Salernos executed a U.S. Bank Private Select Home Equity Creditline Agreement (“Creditline
Agreement”) in which Salernos received a Personal Revolving Line of Credit (“RLOC”) from US Bank National Association for
Five Hundred Thousand Dollars ($500,000) secured by a Deed of Trust upon Salernos’ primary residence. The Creditline
Agreement, and all related Collateral Documents executed by Salernos to obtain the RLOC, is attached as Exhibit A.
D. American Wagering, Inc. (“AWI”) is a publicly traded holding company for several wholly owned subsidiaries that
participate in various aspects of the gaming industry.
E. In particular, through its wholly owned subsidiary, AWI Gaming, Inc., AWI anticipates closing the purchase of a small rural
casino and hotel on the first day of the month following the Nevada Gaming Commission’s approval of the acquisition by AWI
F. To ensure that AWI Gaming, Inc. has all the financing required to close the transaction, AWI desires Salernos to guaranty,
and Salernos consent to act as Guarantor for, amounts not to exceed Five Hundred Thousand Dollars of indebtedness owed by
AWI, and or its various wholly owned subsidiaries, including AWI Gaming, Inc.
The parties agree to the following terms:
1. Incorporation of Recitals. The Recitals are incorporated in full into thi