HERBST GAMING INC
EXHIBIT 10.57
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<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="pa1243_exhibit_10.57"> </A>
<A NAME="toc_pa1243_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit 10.57    <BR>  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="pa1243_code_of_ethics_for_president_a__cod03390"> </A>
<A NAME="toc_pa1243_2"> </A></FONT> <FONT SIZE=2><B>CODE OF ETHICS FOR PRESIDENT AND<BR>  CHIEF EXECUTIVE OFFICER AND SENIOR FINANCIAL OFFICERS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Code of Ethics for President and Chief Executive Officer and Senior Financial Officers (collectively, "Executives"), is designed to provide principles for
the Executives to follow in conducting the business of the Company. The Code covers a wide range of business practices and procedures. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company
policy requires that its Executives observe the highest standards of business and personal ethics in the fulfillment of their duties and responsibilities to the Company.
Executives must practice honesty and integrity in every aspect of the Company business. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executives
who violate the standards set forth in this Code will be subject to disciplinary action. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Code is designed to deter wrongdoing and to promote: </FONT></P>

<UL>
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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>compliance
with applicable governmental laws, rules and regulations;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>prompt
internal reporting to an appropriate person or persons identified in the Code of violations of the Code; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>accountability
for adherence to the Code. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><B>The Code  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In order to achieve the purposes set forth above, we have adopted the following principles and policies: </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws and Regulations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each Executive has an obligation to comply with the applicable laws, rules and
regulations governing the Company's business. We will not tolerate any activity that violates any laws, rules or regulations applicable to us. Whenever a question arises with respect to the
applicability or interpretation of any law, rule or regulation pertaining to the Company's business, the Executive shall consult with the Company's General Counsel or outside counsel. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prohibition against legal and Ethical Violations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executives shall not knowingly participate in, or assist, any acts which
are in violation of any applicable law, rule or regulation governing the Company's business, nor any act that would violate any provision of this Code. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiduciary duties.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Executives have certain fiduciary duties to the Company and its shareholders. They shall exercise
particular care in complying with these duties. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conflicts of Interest.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executives must fully disclose to the Board of Directors any situations, including situations
involving immediate family members, that reasonably could be expected to give rise to a conflict of interest. A conflict situation can arise when an Executive takes actions or has interests that may
make it difficult to perform his or her work for the Company objectively and effectively. A conflict of interest may exist when a Executive's private interest interferes, or appears to interfere, in
any way with the interests of the Company as a whole. The following are examples of situations (applicable to both an Executive or family member) that may present a conflict of interest: </FONT></P>

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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>service
as a director of a company that is one of our material customers, suppliers or competitors, or a company whose interests could reasonably be expected
to conflict with our interests;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>receipt
of personal benefits or favors (other than nominal benefits or favors) as a result of the Executive's position with the Company;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>a
significant financial interest (ownership or otherwise) in any company that is one of our material customers, suppliers or competitors. (Examples of a
significant financial interest include (i)&nbsp;ownership of greater than 1% of the equity of a material customer, supplier or competitor or </FONT></DD></DL>
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<P><FONT SIZE=2>(ii)&nbsp;an
investment in a material customer, supplier or competitor that represents more than 5% of the total assets of the Executive; and </FONT></P>

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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
loan or guarantee of personal obligations from, or any other financial transaction with, any company that is one of our material customers, suppliers or
competitors (other than loans from commercial lending institutions in the ordinary course of business). </FONT></DD></DL>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While
such situations are not automatically prohibited, they are not desirable and may only be waived by the Board of Directors. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Opportunities.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Any Executive Officer that discovers a business opportunity that is in our line of business must
first present the business opportunity to our Board of Directors before pursuing the activity in his or her individual capacity. If the Board of Directors waives our right to pursue the opportunity,
then the Executive Officer may do so in his or her individual capacity. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Competition and Fair Dealing.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All Executives are obligated to deal fairly with our customers, suppliers and competitors.
Executives will not take unfair advantage of any person or entity through manipulation, concealment, abuse of privileged information, misrepresentation or any other unfair dealing or practice. </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company Records.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executives should implement policies that will ensure that all company records are complete, accurate and
reliable in all material respects. All of the Company's books, records, accounts and financial statements must be maintained in reasonable detail, must appropriately reflect the Compmapny's
transactions and must conform both to applicable legal requirements and to the Company's system of internal controls. Company records include bookkeeping information, payroll, e-mails,
accounting and financial data, measurement and performance records, electronic data files and all other records maintained in the ordinary course of our business. Executives are responsible for
understanding and complying with our document retention policy. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accuracy of Financial Reports and other Public Communications.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Executives shall at all times exercise diligence and
thoroughness in the preparation and review of the financial records and reports of the Company. The Executives must also ensure full, fair, accurate, timely and understandable disclosure in reports
and documents that the Company files with, or submits to, the SEC and in other
public communications made by the Company. Executives should be on guard for, and promptly report, evidence of improper financial reporting. Executives must be aware of the requirements of Regulation
FD and must make every effort to ensure that our public disclosures comply with those requirements. </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Insider Trading Laws.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executives are strictly prohibited from trading in our stock or other securities, or
the stock or other securities of any other company, while in possession of material, nonpublic information about the company or the other company. In addition, Executives are strictly prohibited from
recommending, "tipping" or suggesting that anyone else buy or sell our stock or other securities, or the stock or securities of any other company, on the basis of material, nonpublic information. For
more information, please refer to our securities trading policy and procedures. </FONT></P>


<P><FONT SIZE=2><B>Reporting Violations of the Code  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executives have a duty to report any known or suspected violation of this Code, including any violation of laws, rules, regulations or policies applicable to us,
to the General Counsel, or his designee. If the Executive does not feel comfortable reporting the conduct to the General Counsel, or his designee or does not get a satisfactory response, he or she may
contact any member of the Board of Directors. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
Executive found to have violated this Code, shall be subject to disciplinary measures up to and including dismissal. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>-2-</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
questions and reports of known or suspected violations of the law or this Code will be treated with sensitivity and discretion. We will protect each Executive's confidentiality to
the extent possible consistent with the law and our need to investigate each report. We strictly prohibit retaliation against an Executive who, in good faith, seeks help or reports known or suspected
violations. </FONT></P>

<P><FONT SIZE=2><B>Waivers of the Code  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waivers of this Code will be granted on a case-by-case basis and only in extraordinary circumstances. Waivers may be obtained only from
our Board of Directors and will be promptly disclosed to the public. </FONT></P>

<P><FONT SIZE=2><B>Compliance Policy  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any and all modifications or waivers of this Code shall be disclosed within five business days after the modification or waiver on a Form&nbsp;8-K. </FONT></P>


<P><FONT SIZE=2><B>Conclusion  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Code Ethics contains general guidelines for conducting the business of the Company consistent with the highest standards of business ethics. Please contact
the General Counsel or his designee with any questions about these guidelines. Each Executive is separately responsible for his or her actions. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>-3-</FONT></P>

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