GUARANTY DATED JUNE 27, 2002

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EXHIBIT 10.27

GUARANTY

FOR VALUABLE CONSIDERATION, Concorde Gaming Corporation, a Colorado corporation,

("Guarantor") hereby unconditionally guarantees to Bayfront Park Management

Trust, a limited agency and instrumentality of the City of Miami ("Trust"), and

to the City of Miami, a municipal corporation of the State of Florida ("City"),

the full and prompt performance and full and prompt payment of any and all

obligations and indebtedness, whether monetary or non-monetary in nature, of

Concorde Cruises, Inc., successor by operation of law to Bayfront Ventures, a

Florida general partnership (collectively referred to herein as "User"), under

the Use Agreement dated June 25, 1997, as amended by the Amendment to Use

Agreement dated September 26, 1997, the Second Amendment to Use Agreement dated

September, 2001, and the Third Amendment to Use Agreement dated June 27, 2002

(collectively, the "Use Agreement"), and under the Valet Parking Concession

Agreement dated December 8, 1998, as amended by the Amendment to Valet Parking

Concession Agreement dated June 27, 2002 (together, the "Parking Agreement", and

collectively with the Use Agreement, as each may be further amended from time to

time, the "Amended Agreements"). (Copies of the Amended Agreements are attached

hereto as Exhibit A.).

The word "Indebtedness" is used herein in its most comprehensive sense and

includes any and all debts, obligations and liabilities of User to City and/or

Trust arising from the Amended Agreements, whether heretofore, now, or hereafter

made, incurred, or created, whether monetary or non-monetary in nature, and

however arising, whether due or not, absolute or contingent, liquidated or

nonliquidated, and whether User may be liable individually, or jointly with

others, or whether recovery upon such Indebtedness may be or hereafter becomes

barred by any statute of limitations, or whether such Indebtedness may be or

hereafter becomes otherwise unenforceable, and is not limited as to amount or

type, except that Guarantor's liability for monetary obligations shall be

limited to an amount not greater than the sum of the monthly payments due under

the Amended Agreements during a period of Twenty-Four (24) months and

Guarantor's liability for non-monetary obligations shall be limited to those

corresponding to the actual term of the Amended Agreements. In the event

Guarantor elects to terminate the Amended Agreements pursuant to the Early

Termination Procedure contained therein, Guarantor's monetary liability at any

given time during the Notice Period (as defined in the Amended Agreements) shall

be decreased by an amount equal to the total monies actually paid by Guarantor

from the start of the Notice Period through such time.

Guarantor's obligations under this Guaranty (the "Guaranty Obligations") are

independent of the obligations of User. A separate action or actions may be

brought and prosecuted against Guarantor, whether or not action is brought

against User, and User may be joined in any such action or actions. This

Guaranty is a guaranty of payment and not of collection.

Guarantor acknowledges and agrees with Trust and City that each Indebtedness is

a valid and binding obligation of User. Guarantor authorizes Trust and City,

without notice to or demand upon Guarantor, from time to time, and on any number

of occasions, to (a)

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renew, amend, compromise, extend, accelerate, reinstate, or otherwise change the

time for payment of the Indebtedness or (b) otherwise change the terms of the

Indebtedness or Guaranty Obligations

Guarantor waives any right to require Trust and City to (a) proceed against

User; (b) proceed against or exhaust any security held from User; or (c) pursue

any other remedy whatsoever available to Trust and City. Guara