MANDALAY RESORT GROUP
EXHIBIT 10.75
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<TYPE>EX-10.75
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<DESCRIPTION>EXHIBIT 10.75
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<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit&nbsp;10.75  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="lk1298_fifth_amendment_to_the_amended__fif07484"> </A>
<A NAME="toc_lk1298_1"> </A>
<BR></FONT><FONT SIZE=2><B>FIFTH AMENDMENT TO THE<BR>  AMENDED AND RESTATED DEVELOPMENT AGREEMENT<BR>  BY AND AMONG<BR>  THE CITY OF DETROIT, THE ECONOMIC DEVELOPMENT CORPORATION<BR>  OF THE CITY OF DETROIT AND<BR>  DETROIT ENTERTAINMENT, L.L.C.
<BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS FIFTH AMENDMENT (the "Fifth Amendment") to that certain Amended and Restated Development Agreement, dated as of April&nbsp;9, 1998, as amended by the First
Amendment dated June&nbsp;25, 1998, Second Amendment dated December, 1999, Third Amendment dated November&nbsp;30, 2000 and Fourth Amendment dated November&nbsp;30,2001, by and among the City of
Detroit (the "City"), The Economic Development Corporation of the City of Detroit ("EDC") and Detroit Entertainment, L.L.C., a Michigan limited liability company ("Developer") for the City of Detroit
Waterfront Reclamation and Casino Development Project (the "Development Agreement") is made on this&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;day of March, 2002 by and among the City, EDC and the Developer. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS,</B></FONT><FONT SIZE=2> the City, EDC and Developer have previously entered into the Development Agreement; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS,</B></FONT><FONT SIZE=2> it is the desire of the parties to enter into this Fifth Amendment to amend certain provisions of the Development Agreement. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>NOW, THEREFORE,</B></FONT><FONT SIZE=2> in consideration of the foregoing premises and the covenants herein contained, the parties agree as follows: </FONT></P>

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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD><FONT SIZE=2>All
capitalized terms not otherwise defined herein shall have the same meaning as set forth in the Development Agreement.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD><FONT SIZE=2><I>Section&nbsp;2.4(d)</I></FONT><FONT SIZE=2> of the Development Agreement is hereby amended by deleting the reference to "March&nbsp;31, 2002" in such
section and substituting in its place "April&nbsp;30, 2002."
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD><FONT SIZE=2>Except
as amended by this Fifth Amendment, the Development Agreement is reaffirmed in all respects and shall remain in full force and effect.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD><FONT SIZE=2>This
Fifth Amendment shall become effective on the date (the "Amendment Effective Date") on which all of the following have been accomplished: (a)&nbsp;this Fifth Amendment has been
executed by all parties hereto and (b)&nbsp;the City Council has duly approved the last of the following: (i)&nbsp;this Fifth Amendment; and (ii)&nbsp;a fifth amendment to the amended and
restated development agreements of each or the Other Land-Based Casino Developers containing substantially the same terms and conditions as set forth in this Fifth Amendment.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD><FONT SIZE=2>This
Fifth Amendment maybe executed in counterparts, each of which shall be deemed to be an original document and together shall constitute one instrument. </FONT></DD></DL>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the parties hereto have set their hands and had their seals affixed on the dates set forth after their respective signatures. </FONT></P>

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<TD COLSPAN=7><FONT SIZE=2>CITY OF DETROIT, a municipal corporation</FONT></TD>
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&nbsp;</FONT></TD>
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By:</FONT></TD>
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<TD COLSPAN=5><FONT SIZE=2><BR>
KWAME M. KILPATRICK</FONT><HR NOSHADE></TD>
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<TD COLSPAN=5><FONT SIZE=2>Mayor</FONT><HR NOSHADE></TD>
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THE ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF DETROIT, a Michigan public body corporate</FONT></TD>
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&nbsp;</FONT></TD>
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ART PAPAPANOS</FONT><HR NOSHADE></TD>
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<TD COLSPAN=5><FONT SIZE=2>Authorized Agent</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
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By:</FONT></TD>
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&nbsp;</FONT></TD>
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<TD COLSPAN=5><FONT SIZE=2>Treasurer</FONT><HR NOSHADE></TD>
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DETROIT ENTERTAINMENT, L.L.C. a Michigan limited liability company</FONT></TD>
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By:</FONT></TD>
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Circus Circus Michigan,&nbsp;Inc. a Michigan corporation, one of its members</FONT></TD>
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Rhonda Cohen</FONT><HR NOSHADE></TD>
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<TD COLSPAN=3><FONT SIZE=2>VP. &amp; General Manager</FONT><HR NOSHADE></TD>
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Atwater Casino Group, LLC, a Michigan limited liability company, one of its members</FONT></TD>
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Atwater Management Corporation, a Delaware corporation, its manager</FONT></TD>
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Thomas Celani</FONT><HR NOSHADE></TD>
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<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD WIDTH="5%"><FONT SIZE=2>Its:</FONT></TD>
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<TD WIDTH="45%"><FONT SIZE=2>President</FONT><HR NOSHADE></TD>
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Vivian Carpenter</FONT><HR NOSHADE></TD>
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<TD WIDTH="45%"><FONT SIZE=2>Vice President</FONT><HR NOSHADE></TD>
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<FONT SIZE=2><A HREF="#toc_lk1298_1">FIFTH AMENDMENT TO THE AMENDED AND RESTATED DEVELOPMENT AGREEMENT BY AND AMONG THE CITY OF DETROIT, THE ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF DETROIT AND DETROIT ENTERTAINMENT, L.L.C.</A></FONT><BR>
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