Item 1.01. Entry into a Material Definitive Agreement

On July 7, 2009, Nevada Gold & Casinos, Inc. (the "Company") entered into an Amended and Restated Security Agreement and supporting documents (the "ARSA") with its principal lender which replaces its previous loan agreement with such lender. Pursuant to the ARSA, the Company extended its long term debt in the principal amount of $6.0 million and granted a security interest in, and pledged, certain collateral. In addition, the Company will pay a commission of 3% of the loan amount to Allied Securities, Inc. in connection with the transaction. Interest payments on the amount owed will be made monthly at an annual rate of 10% through June 30, 2010 and from July 1, 2010 until maturity on June 30, 2013 at a rate of 11% per annum. Under the terms of the ARSA, the $6.0 million may only be utilized for future acquisitions by the Company and may be repaid at any time without penalty.

The ARSA contains customary events of default, including nonpayment when due of principal or interest on any loan, failure to comply with certain affirmative or negative covenants and failure to perform any obligation within specified grace periods.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits. The following exhibits are furnished as part of this current Report on Form 8-K: 10.1 July 2009 Amended and Restated Security Agreement between Nevada Gold & Casinos, Inc. and the senior lender dated July 7, 2009 10.2 Schedule of Collateral, Notes, Security Interests and Ownership Interests dated July 7, 2009 10.3 Collateral Assignment of Notes, Contractual Rights, Security Interests, and Ownership Interests dated July 7, 2009 10.4 Promissory Note issued by Nevada Gold & Casinos, Inc. to the senior lender dated July 7, 2009 10.5 Loan Guaranty Agreement dated July 7, 2009

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