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                                                                    EXHIBIT 10.9

                 BLACK HAWK GAMING & DEVELOPMENT COMPANY, INC.

                            SUBSCRIPTION FOR SHARES


         For value received, the receipt and sufficiency of which is hereby
acknowledged, the undersigned, Stephen R. Roark ("Purchaser"), hereby
subscribes for 28,571 Shares of Black Hawk Gaming & Development Company, Inc.,
a Colorado corporation ("Seller"), at a price of $5.25 per Share. Capitalized
terms used but not defined herein shall have the meaning assigned to such terms
in that certain Purchase Agreement entered into as of August 12, 1996, by and
between Seller and Jacobs Entertainment Ltd. (the "Purchase Agreement").

         Purchaser hereby acknowledges that he has been furnished with a copy
of the Purchase Agreement and has read and understands the terms thereof.

         The Shares being subscribed for hereunder are being acquired pursuant
to Section 2(f) of the Purchase Agreement, are being acquired subject to the
satisfaction of the Section 2(c) conditions and are being secured by a letter
of credit as described in Section 2(g) of the Purchase Agreement.

         The Shares being subscribed for hereunder are being acquired for
Purchaser's own account and not with a view to, or for resale in connection
with, any distribution or public offering thereof within the meaning of the
Securities Act of 1933 (the "1933 Act").  Purchaser understands that the Shares
have not been registered under the 1933 Act by reason of their contemplated
issuance in a transaction believed to be exempt from the registration and
prospectus delivery requirements of the 1933 Act pursuant to Section 4(2)
thereof, and in transactions believed to be exempt from the registration and/or
qualification provisions of the appropriate state securities laws.  Purchaser
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has such knowledge and experience in financial and business matters that he is
capable of independently evaluating the risks and merits of purchasing and
acquiring the Shares.

         IN WITNESS WHEREOF, the undersigned has executed and delivered this
Subscription for Shares as of the 12th day of November, 1996.



                                        /s/ STEPHEN R. ROARK
                                        ----------------------------------------
                                        STEPHEN R. ROARK





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