Exhibit 99.1

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THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON __________,
2002, UNLESS EXTENDED (THE "EXPIRATION DATE"). TENDERS OF EXISTING NOTES MAY BE
WITHDRAWN AT ANY TIME PRIOR TO 5:00 P.M. ON THE EXPIRATION DATE.
- --------------------------------------------------------------------------------

                           JACOBS ENTERTAINMENT, INC.

                              LETTER OF TRANSMITTAL
                      11 7/8% SENIOR SECURED NOTES DUE 2009

              TO: WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION,
                               THE EXCHANGE AGENT

BY  REGISTERED OR CERTIFIED MAIL:      BY  OVERNIGHT COURIER AND BY HAND AFTER
- ---------------------------------      ---------------------------------------
(Registered or certified mail          4:30 P.M.
 recommended)                          ---------




Wells Fargo Bank Minnesota             Wells Fargo Bank Minnesota
213 Court Street, Suite 902            213 Court Street, Suite 902
Middletown, CT 06457                   Middletown, CT 06457
Attention: Robert Reynolds, Vice       Attention: Robert Reynolds, Vice
           President                              President

By FACSIMILE: (860) 704-8214
- ------------

CONFIRM BY TELEPHONE: (860) 704-8216
- --------------------

 DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR
 TRANSMISSION OF INSTRUCTIONS VIA A FACSIMILE NUMBER OTHER THAN THE ONE LISTED
 ABOVE WILL NOT CONSTITUTE A VALID DELIVERY. THE INSTRUCTIONS ACCOMPANYING THIS
LETTER OF TRANSMITTAL SHOULD BE READ CAREFULLY BEFORE THIS LETTER OF TRANSMITTAL
                                  IS COMPLETED.



HOLDERS WHO WISH TO BE ELIGIBLE TO RECEIVE NEW NOTES FOR THEIR OLD NOTES
PURSUANT TO THE EXCHANGE OFFER MUST VALIDLY TENDER (AND NOT WITHDRAW) THEIR
EXISTING NOTES TO THE EXCHANGE AGENT PRIOR TO THE EXPIRATION DATE.

         The undersigned acknowledges receipt of the Prospectus dated
_____________ ___, 2002 (the "Prospectus") of JACOBS ENTERTAINMENT, INC. (the
"Company") and this Letter of Transmittal (the "Letter of Transmittal"), which
together constitute the Company's Offer to Exchange (the "Exchange Offer")
$1,000 principal amount of its 11 7/8% Senior Secured Notes Due 2009 (the
"Exchange Notes"), which have been registered under the Securities Act of 1933,
as amended (the "Securities Act"), pursuant to a Registration Statement of which
the Prospectus is a part, for each $1,000 principal amount of its outstanding 11
7/8% Senior Secured Notes Due 2009 (the "Old Notes"), of which $125,000,000
principal amount is outstanding, upon the terms and conditions set forth in the
Prospectus. Other capitalized terms used but not defined herein have the meaning
given to them in the Prospectus.

         The holder of each Old Note accepted for exchange, will receive a New
Note having a principal amount equal to that of the surrendered Old Note.
Interest on the New Notes will accrue from the last interest payment date on
which interest was paid on the Old Notes surrendered in exchange therefor or, if
no interest has been paid on the Old Notes, from the date of original issue of
the Old Notes. Holders of Old Notes accepted for exchange will be deemed to have
waived the right to receive any other payments or accrued interest on the Old
Notes. The Company reserves the right, at any time or from time to time, to
extend the Exchange Offer at its discretion, in which event the term "Expiration
Date" shall mean the latest time and date to which the Exchange Offer is
extended. The Company shall notify holders of the Old Notes of any extension by
means of a press release or other public announcement prior to 9:00 A.M., New
York City time, on the next business day after the previously scheduled
Expiration Date.

         This Letter of Transmittal is to be used by Holders if: (i)
certificates representing Old Notes are to be physically delivered to the
Exchange Agent herewith by Holders; (ii) tender of Old Notes is to be made by
book-entry transfer to the Exchange Agent's account at The Depository Trust
Company ("DTC"), pursuant to the procedures set forth in the Prospectus under
"The Exchange Offer--Procedures for Tendering" by any financial institution that
is a participant in DTC and whose name appears on a security position listing as
the owner of Old Notes; or (iii) tender of Old Notes is to be made according to
the guaranteed delivery procedures set forth in the prospectus under "The
Exchange Offer--Guaranteed Delivery Procedures." DELIVERY OF DOCUMENTS TO DTC
DOES NOT CONSTITUTE DELIVERY TO THE EXCHANGE AGENT.

         The term "Holder" with respect to the Exchange Offer means any person:
(i) in whose name Old Notes are registered on the books of the Company or any
other person who has obtained a properly completed bond power from the
registered Holder; or (ii) whose Old Notes are held of record by DTC who desires
to deliver such Old Notes by book-entry transfer at DTC. The undersigned has
completed, executed and delivered this Letter of Transmittal to indicate the
action the undersigned desires to take with respect to the Exchange Offer.

         The instructions included with this Letter of Transmittal must be
followed. Questions and requests for assistance or for additional copies of the
Prospectus, this Letter of Transmittal and the Notice of Guaranteed Delivery may
be directed to the Exchange Agent. See Instruction 11 herein.

HOLDERS WHO WISH TO ACCEPT THE EXCHANGE OFFER AND TENDER THEIR OLD NOTES MUST
COMPLETE THIS LETTER OF TRANSMITTAL IN ITS ENTIRETY. PLEASE READ THIS ENTIRE
         LETTER OF TRANSMITTAL CAREFULLY BEFORE CHECKING ANY BOX BELOW.

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                                                                          Page 2



- --------------------------------------------------------------------------------

        BOX 1 - DESCRIPTION OF 11 7/8% SENIOR SECURED NOTES DUE 2009 (OLD NOTES)
- --------------------------------------------------------------------------------



                                                                           Aggregate Principal   Principal Amount
   Name(s) and Address(es) of Registered Holder(s)        Certificate         Registered by          Tendered
             (Please fill in, if blank)                    Number(s)*        Certificate(s)        (If less than
                                                                                                       all)**
                                                                                       
- ------------------------------------------------------ -------------------------------------------------------------

                                                       -------------------------------------------------------------

                                                       -------------------------------------------------------------

                                                       -------------------------------------------------------------

                                                       -------------------------------------------------------------

                                                       -------------------------------------------------------------

                                                       -------------------------------------------------------------
                                                        Total
- --------------------------------------------------------------------------------------------------------------------


   *   Need not be completed by Holders tendering by book-entry transfer.

   **  Unless indicated in the column labeled "Principal Amount Tendered," any
       tendering Holder of Old Notes will be deemed to have tendered the entire
       aggregate principal amount represented by the column labeled "Aggregate
       Principal Amount Represented by Certificate(s)." If the space provided
       above is inadequate, list the certificate numbers and principal amounts
       on a separate signed schedule and affix the list to this Letter of
       Transmittal.

       The minimum permitted tender is $1,000 in principal amount of Old Notes.
       All other tenders must be integral multiples of $1,000.

- -------------------------------------------------------------------------------
                                                                          Page 3





- ---------------------------------------------------------   -----------------------------------------------------
                         BOX 2                                        BOX 3
             SPECIAL PAYMENT INSTRUCTIONS                             SPECIAL DELIVERY INSTRUCTIONS
             (SEE INSTRUCTIONS 4, 5 AND 6)                            (SEE INSTRUCTIONS 4, 5 AND 6)
                                                          
        To be completed ONLY if certificates for Old                To be accepted ONLY if certificates for
Notes in a principal amount not tendered or not accepted     Old Notes in a principal amount not tendered or
for exchange, or New Notes issued in exchange for Old        not accepted for exchange, are to be sent to
Notes accepted for exchange, are to be issued in the         someone other than the undersigned, or to the
name of someone other than the undersigned, or if the        undersigned at an address other than that shown
Old Notes tendered by book-entry transfer that are not       above.
accepted for exchange are to be credited to an account
maintained by DTC.

Issue certificate(s) to:                                     Return mail to:

Name:____________________________________________________    Name:____________________________________________
                    (Please Print)                                          (Please Print)

Address:_________________________________________________    Address:_________________________________________

_________________________________________________________    _________________________________________________
                  (Include Zip Code)                                        (Include Zip Code)

_________________________________________________________    _________________________________________________
    (Tax Identification or Social Security No.)                  (Tax Identification or Social Security No.)

- -----------------------------------------------------------------------------------------------------------------

CHECK HERE IF TENDERED OLD NOTES ARE BEING DELIVERED BY BOOK-ENTRY TRANSFER TO THE EXCHANGE AGENT'S ACCOUNT AT
DTC AND COMPLETE THE FOLLOWING:

Name of Tendering Institution:______________________________________________________

DTC Book-Entry Account:_____________________________________________________________

Transaction Code No.:_______________________________________________________________

- -----------------------------------------------------------------------------------------------------------------

- -----------------------------------------------------------------------------------------------------------------
CHECK HERE IF TENDERED OLD NOTES ARE BEING DELIVERED PURSUANT TO A NOTICE OF GUARANTEED DELIVERY PREVIOUSLY SENT
TO THE EXCHANGE AGENT AND COMPLETE THE FOLLOWING:

Name(s) of Registered Holder(s):____________________________________________________

Window Ticket Number (if any):______________________________________________________

Date of Execution of Notice of Guaranteed Delivery:_________________________________

IF DELIVERED BY BOOK-ENTRY TRANSFER, COMPLETE THE FOLLOWING:

Account Number:_______________________     Transaction Code Number:_________________

- -----------------------------------------------------------------------------------------------------------------



- --------------------------------------------------------------------------------
                                                                          Page 4



- --------------------------------------------------------------------------------

CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES
OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

Name:________________________________

Address:_____________________________

     ________________________________

- --------------------------------------------------------------------------------


- --------------------------------------------------------------------------------

CHECK HERE IF YOU ARE A BROKER-DEALER AND ARE RECEIVING NEW NOTES FOR YOUR OWN
ACCOUNT IN EXCHANGE FOR OLD NOTES THAT WERE ACQUIRED AS A RESULT OF MARKET
MAKING ACTIVITIES OR OTHER TRADING ACTIVITIES.


Name:________________________________

Address:_____________________________

     ________________________________

- --------------------------------------------------------------------------------


- --------------------------------------------------------------------------------
                                                                          Page 5



Ladies and Gentlemen:

     Subject to the terms and conditions of the Exchange Offer, the undersigned
hereby tenders to the Company the principal amount of Old Notes indicated above.
Subject to and effective upon the acceptance for exchange of the principal
amount of Old Notes tendered in accordance with this Letter of Transmittal, the
undersigned sells, assigns and transfers to, or upon the order of, the Company
all right, title and interest in and to the Old Notes tendered hereby. The
undersigned hereby irrevocably constitutes and appoints the Exchange Agent its
agent and attorney-in-fact (with full knowledge that the Exchange Agent also
acts as the agent of the Company and as Trustee under the Indenture for the Old
Notes and New Notes) with respect to the tendered Old Notes with full power of
substitution to (i) deliver certificates for such Old Notes to the Company, or
transfer ownership of such Old Notes on the account books maintained by DTC and
deliver all accompanying evidence of transfer and authenticity to, or upon the
order of, the Company and (ii) present such Old Notes for transfer on the books
of the Company and receive all benefits and otherwise exercise all rights of
beneficial ownership of such Old Notes, all in accordance with the terms and
subject to the conditions of the Exchange Offer. The power of attorney granted
in this paragraph shall be deemed irrevocable and coupled with an interest.

     The undersigned hereby represents and warrants that the undersigned has
full power and authority to tender, sell, assign and transfer the Old Notes
tendered hereby and that the Company will acquire good and unencumbered title
thereto, free and clear of all liens, restrictions, charges and encumbrances and
not subject to any adverse claim, when the same are acquired by the Company. The
undersigned hereby further represents that any New Notes acquired in exchange
for Old Notes tendered hereby will have been acquired in the ordinary course of
business of the Holder receiving such New Notes, whether or not such person is
the Holder, that neither the Holder nor any such other person has any
arrangement or understanding with any person to participate in the distribution
of such New Notes and that neither the Holder nor any such other person is an
"affiliate," as defined in Rule 405 under the Securities Act, of the Company or
any of its subsidiaries.

     The undersigned also acknowledges that this Exchange Offer is being made
based on certain interpretations issued by the staff of the Securities and
Exchange Commission (the "Commission") to third parties in unrelated
transactions. Based on those interpretations, the Company believes that the New
Notes issued in exchange for the Old Notes pursuant to the Exchange Offer may be
offered for resale, resold and otherwise transferred by holders thereof (other
than any such holder that is an "affiliate" of the Company within the meaning of
Rule 405 under the Securities Act), without compliance with the registration and
prospectus delivery provisions of the Securities Act, provided that such New
Notes are acquired in the ordinary course of such holders' business and such
holders have no arrangements or understandings with any person to participate in
the distribution of such New Notes. If the undersigned is not a broker-dealer,
the undersigned represents that it is not engaged in, and does not intend to
engage in, a distribution of New Notes. If the undersigned is a broker-dealer
that will receive New Notes for its own account in exchange for Old Notes that
were acquired as a result of market-making activities or other trading
activities, it acknowledges that it will deliver a prospectus in connection with
any resale of such New Notes; however, by so acknowledging and by delivering a
prospectus, the undersigned will not be deemed to admit that it is an
"underwriter" within the meaning of the Securities Act.

     The undersigned will, upon request, execute and deliver any additional
documents deemed by the Exchange Agent or the Company to be necessary or
desirable to complete the assignment, transfer and purchase of the Old Notes
tendered hereby. All authority conferred or agreed to be conferred by this
Letter of Transmittal shall survive the death, incapacity or dissolution of the
undersigned and every obligation of the undersigned under this Letter of
Transmittal shall be binding upon the undersigned's heirs, personal
representatives, successors and assigns, trustees in bankruptcy or other legal
representatives of the undersigned. This tender may be withdrawn only in
accordance with the procedures set forth in "The Exchange Offer--Withdrawal of
Tenders" section of the Prospectus.


- -------------------------------------------------------------------------------
                                                                          Page 6



     For purposes of the Exchange Offer, the Company shall be deemed to have
accepted validly tendered Old Notes when, as and if the Company has given oral
or written notice thereof to the Exchange Agent.

     If any tendered Old Notes are not accepted for exchange pursuant to the
Exchange Offer for any reason, certificates for any such unaccepted Old Notes
will be returned (except as noted below with respect to tenders through DTC),
without expense, to the undersigned as promptly as practicable after the
Expiration Date at the address shown below or at a different address as may be
indicated under "Special Delivery Instructions."


     The undersigned acknowledges that tenders of Old Notes pursuant to the
procedures described under the caption "The Exchange Offer--Procedures for
Tendering" in the Prospectus and in the instructions hereto will constitute a
binding agreement between the undersigned and the Company upon the terms and
subject to the conditions of the Exchange Offer.

     Unless otherwise indicated under "Special Payment Instructions," please
issue the certificates representing the New Notes issued in exchange for the Old
Notes accepted for exchange and return any Old Notes not tendered or not
exchanged in the name(s) of the undersigned (or in either such event in the case
of the Old Notes tendered through DTC, by credit to the undersigned's account
at DTC). Similarly, unless otherwise indicated under "Special Delivery
Instructions," please send the certificates representing the New Notes issued in
exchange for the Old Notes accepted for exchange and any certificates for Old
Notes not tendered or not exchanged (and accompanying documents, as appropriate)
to the undersigned at the address shown below the undersigned's signature(s),
unless, in either event, tender is being made through DTC. In the event that
both "Special Payment Instructions" and "Special Delivery Instructions" are
completed, please issue the certificates representing the New Notes issued in
exchange for the Old Notes accepted for exchange and return any Old Notes not
tendered or not exchanged in the name(s) of, and send said certificates to, the
person(s) so indicated. The Company has no obligation pursuant to the "Special
Payment Instructions" and "Special Delivery Instructions" to transfer any Old
Notes from the name of the registered Holder(s) thereof if the Company does not
accept for exchange any of the Old Notes so tendered.

     Holders of Old Notes who wish to tender their Old Notes and (i) whose Old
Notes are not immediately available or (ii) who cannot deliver their Old Notes,
this Letter of Transmittal or any other documents required hereby to the
Exchange Agent, or cannot complete the procedure for book-entry transfer, prior
to the Expiration Date, may tender their Old Notes according to the guaranteed
delivery procedures set forth in the Prospectus under the caption "The Exchange
Offer--Guaranteed Delivery Procedures." See Instruction 1 regarding the
completion of the Letter of Transmittal printed below.


- --------------------------------------------------------------------------------
                                                                          Page 7



- --------------------------------------------------------------------------------
                         PLEASE SIGN HERE WHETHER OR NOT
                 OLD NOTES ARE BEING PHYSICALLY TENDERED HEREBY

X_____________________________________________________      Date________________

X_____________________________________________________      Date________________
Signature(s) of Registered Holder(s)
Or Authorized Signatory

Area Code and Telephone Number  ______________________

        The above lines must be signed by the registered Holder(s) of Old Notes
as their name(s) appear(s) on the Old Notes or, if the Old Notes are tendered by
a participant in DTC, as such participant's name appears on a security position
listing as the owner of Old Notes, or by person(s) authorized to become
registered Holder(s) by a properly completed bond power from the registered
Holder(s), a copy of which must be transmitted with this Letter of Transmittal.
If Old Notes to which this Letter of Transmittal relates are held of record by
two or more joint Holders, then all such holders must sign this Letter of
Transmittal. If signature is by a trustee, executor, administrator, guardian,
attorney-in-fact, officer of a corporation or other person acting in a fiduciary
or representative capacity, such person must (i) set forth his or her full title
below and (ii) unless waived by the Company, submit evidence satisfactory to the
Company of such person's authority to act. See Instruction 4 regarding the
completion of this Letter of Transmittal printed below.

Name:___________________________________________________________________________
                                 (Please Print)

Capacity:_______________________________________________________________________

Address:________________________________________________________________________
                               (Include Zip Code)

Signature(s) Guaranteed by an Eligible Institution:
(If required by Instruction 4)


________________________________________________________________________________
                             (Authorized Signature)


________________________________________________________________________________
                                     (Title)

________________________________________________________________________________
                                 (Name of Firm)


Dated:__________________________________________________________________________

- --------------------------------------------------------------------------------


- --------------------------------------------------------------------------------
                                                                          Page 8



                                  INSTRUCTIONS
                    FORMING PART OF THE TERMS AND CONDITIONS
                              OF THE EXCHANGE OFFER

         1. Delivery of this Letter of Transmittal and Old Notes; Guaranteed
Delivery Procedures. This Letter of Transmittal is to be completed by
noteholders, either if certificates are to be forwarded herewith or if tenders
are to be made pursuant to the procedures for delivery by book-entry transfer
set forth in "The Exchange Offer--Procedures for Tendering" section of the
Prospectus. Certificates for all physically tendered Old Notes, or Book-Entry
Confirmation, as the case may be, as well as a properly completed and duly
executed Letter of Transmittal (or manually signed facsimile hereof) and any
other documents required by this Letter of Transmittal, must be received by the
Exchange Agent at the address set forth herein on or prior to the Expiration
Date, or the tendering holder must comply with the guaranteed delivery
procedures set forth below. Old Notes tendered hereby must be in denominations
of principal amount of maturity of $1,000 and any integral multiple thereof.

         Holders whose certificates for Old Notes are not immediately available
or who cannot deliver their certificates and all other required documents to the
Exchange Agent on or prior to the Expiration Date, or who cannot complete the
procedure for book-entry transfer on a timely basis, may tender their Old Notes
pursuant to the guaranteed delivery procedures set forth in "The Exchange
Offer--Guaranteed Delivery Procedures" section of the Prospectus. Pursuant to
such procedures, (i) such tender must be made through an Eligible Institution
(as defined in Instruction 4 below), (ii) prior to the Expiration Date, the
Exchange Agent must receive from such Eligible Institution a properly completed
and duly executed Letter of Transmittal (or facsimile thereof) and Notice of
Guaranteed Delivery, substantially in the form provided by the Company (by
facsimile transmission, mail or hand delivery), setting forth the name and
address of the holder of Old Notes and the amount of Old Notes tendered, stating
that the tender is being made thereby and guaranteeing that within three New
York Stock Exchange ("NYSE") trading days after the date of execution of the
Notice of Guaranteed Delivery, the certificates for all physically tendered Old
Notes, or a Book-Entry Confirmation, and any other documents required by this
Letter of Transmittal will be deposited by the Eligible Institution with the
Exchange Agent, and (iii) the certificates for all physically tendered Old
Notes, in proper form for transfer, or Book-Entry confirmation, as the case may
be, and all other documents required by this Letter of Transmittal, are received
by the Exchange Agent within three NYSE trading days after the date of execution
of the Notice of Guaranteed Delivery.

         The method of delivery of this Letter of Transmittal, the Old Notes and
all other required documents is at the election and risk of the tendering
holder, but the delivery will be deemed made only when actually received or
confirmed by the Exchange Agent or deemed received under the ATOP Procedures. If
Old Notes are sent by mail, it is suggested that the mailing be made
sufficiently in advance of the Expiration Date to permit delivery to the
Exchange Agent prior to 5:00 p.m. New York City time, on the Expiration Date.
See "The Exchange Offer" section in the Prospectus.

         2. Tender by Holder. Only a holder of Old Notes may tender such Old
Notes in the Exchange Offer. Any beneficial holder of Old Notes who is not the
registered holder and who wishes to tender should arrange with the registered
holder to execute and deliver this Letter of Transmittal on his or her behalf or
must, prior to completing and executing this Letter of Transmittal and
delivering his or her Old Notes, either make appropriate arrangements to
register ownership of the Old Notes in such holder's name or obtain a properly
completed bond power from the registered holder.

         3. Partial Tenders. Tenders of Old Notes will be accepted only in
integral multiples of $1,000. If less than the entire principal amount of any
Old Notes is tendered, the tendering holder should fill in the principal amount
tendered in the fourth column of the box entitled "Description of 11 7/8% Senior
Secured Notes Due 2009 (Old Notes)" above. The entire principal amount of Old
Notes delivered to the Exchange Agent will be deemed to have been tendered
unless otherwise indicated. If the entire principal amount of all Old Notes is
not tendered, then Old Notes for the principal amount of Old Notes


- --------------------------------------------------------------------------------
                                                                          Page 9



not tendered and a certificate or certificates representing New Notes issued in
exchange for any Old Notes accepted will be sent to the Holder at his or her
registered address, unless a different address is provided in the appropriate
box on this Letter of Transmittal promptly after the Old Notes are accepted for
exchange.

         4. Signatures on this Letter of Transmittal; Powers of Attorney and
Endorsements; Guarantee of Signatures. If this Letter of Transmittal is signed
by the registered holder of the Old Notes tendered hereby, the signature must
correspond exactly with the name as written on the face of the certificates
without any change whatsoever.

         If any tendered Old Notes are owned of record by two or more joint
owners, all such owners must sign this Letter of Transmittal.

         If any tendered Old Notes are registered in different names on several
certificates, it will be necessary to complete, sign and submit as many separate
copies of this Letter of Transmittal as there are different registrations of
certificates.

         When this Letter of Transmittal is signed by the registered holder or
holders of the Old Notes specified herein and tendered hereby, no endorsements
of certificates or separate powers of attorney are required. If, however, the
New Notes are to be issued, or any untendered Old Notes are to be reissued, to a
person other than the registered holder, then endorsements of any certificates
transmitted hereby or separate powers of attorney are required. Signatures on
such certificate(s) must be guaranteed by an Eligible Institution.

         If this Letter of Transmittal is signed by a person other than the
registered holder or holders of any certificate(s) specified herein, such
certificate(s) must be endorsed or accompanied by appropriate powers of
attorney, in either case signed exactly as the names on the registered holder or
holders appear(s) on the certificate(s) and signatures on such certificate(s)
must be guaranteed by an Eligible Institution.

         If this Letter of Transmittal or any certificates or powers of attorney
are signed by trustees, executors, administrators, guardians, attorneys-in-fact,
officers of corporations or others acting in a fiduciary or representative
capacity, such persons should so indicate when signing, and unless waived by the
Company, proper evidence satisfactory to the Company of their authority to so
act must be submitted.

         Endorsements on certificates for Old Notes or signatures on powers of
attorney required by this Instruction 4 must be guaranteed by a firm which is a
participant in a recognized signature guarantee medallion program ("Eligible
Institutions").

         Signatures on this Letter of Transmittal must be guaranteed by an
Eligible Institution unless the Old Notes are tendered (i) by a registered
holder of Old Notes (which term, for purposes of the Exchange Offer, includes
any participant in the Book-Entry Transfer Facility system whose name appears on
a security position listing as the holder of such Old Notes) who has not
completed the box entitled "Special Registration Instructions" or "Special
Delivery Instructions" on this Letter of Transmittal, or (ii) for the account of
an Eligible Institution.

         5. Special Payment And Delivery Instructions. Tendering holders should
indicate, in the applicable box or boxes, the name and address to which New
Notes or substitute Old Notes for principal amounts not tendered or not accepted
for exchange are to be issued or sent, if different from the name and address of
the person signing this Letter of Transmittal (or in the case of tender of Old
Notes through DTC, if different from DTC). In the case of issuance in a
different name, the taxpayer identification or social security number of the
person named must also be indicated. Noteholders tendering Old Notes by
book-entry transfer may request that Old Notes not exchanged be credited to such
account maintained at


- --------------------------------------------------------------------------------
                                                                         Page 10



the Book-Entry Transfer Facility as such noteholder may designate hereon. If no
such instructions are given, such Old Notes not exchanged will be returned to
the name and address of the person signing this Letter of Transmittal.

         6. Tax Identification Number. Federal income tax law requires that a
holder whose offered Old Notes are accepted for exchange must provide the
Company (as payer) with his, her or its correct Taxpayer Identification Number
("TIN"), which, in the case of an exchanging holder who is an individual, is his
or her social security number. If the Company is not provided with the correct
TIN or an adequate basis for exemption, such holder may be subject to a $50
penalty imposed by the Internal Revenue Service (the "IRS"), and payments made
with respect to Old Notes purchased pursuant to the Exchange Offer may be
subject to backup withholding at a 30.5% rate. The backup withholding rate is
being reduced gradually through 2006. If withholding results in an overpayment
of taxes, a refund may be obtained. Exempt holders (including, among others, all
corporations and certain foreign individuals) are not subject to these backup
withholding and reporting requirements. See the enclosed "Guidelines for
Certification of Taxpayer Identification Number on Substitute Form W-9."

         To prevent backup withholding, each exchanging holder must provide his,
her or its correct TIN by completing the Substitute Form W-9 enclosed herewith,
certifying that the TIN provided is correct (or that such Holder is awaiting a
TIN) and that (i) the holder is exempt from backup withholding, (ii) the holder
has not been notified by the IRS that he, she or it is subject to backup
withholding as a result of a failure to report all interest or dividends, or
(iii) the IRS has notified the holder that he, she or it is no longer subject to
backup withholding. In order to satisfy the Exchange Agent that a foreign
individual qualifies as an exempt recipient, such holder must submit a statement
signed under penalty of perjury attesting to such exempt status. Such statements
may be obtained from the Exchange Agent. If the Old Notes are in more than one
name or are not in the name of the actual owner, consult the Substitute Form W-9
for information on which TIN to report. If you do not provide your TIN to the
Company within 60 days, backup withholding will begin and continue until you
furnish your TIN to the Company.

         7.  Transfer Taxes. The Company will pay all transfer taxes, if any,
applicable to the exchange of Old Notes pursuant to the Exchange Offer. If,
however, certificates representing New Notes or Old Notes for principal amounts
not tendered or accepted for exchange are to be delivered to, or are to be
registered or issued in the name of, any person other than the registered holder
of the Old Notes tendered hereby, or if tendered Old Notes are registered in the
name of any person other than the person signing this Letter of Transmittal, or
if a transfer tax is imposed for any reason other than the exchange of Old Notes
pursuant to the Exchange Offer, then any such transfer taxes (whether imposed on
the registered holder or on any other persons) will be payable by the tendering
holder. If satisfactory evidence of payment of such taxes or exemption therefrom
is not submitted herewith, the amount of such transfer taxes will be billed
directly to such tendering holder.

         Except as provided in this Instruction 7, it will not be necessary for
transfer tax stamps to be affixed to the Old Notes listed in this letter.

         8.  Waiver of Conditions. The Company reserves the absolute right to
amend, waive or modify specified conditions in the Exchange Offer in the case of
any Old Notes tendered.

         9.  No Conditional Transfers. No alternative, conditional, irregular or
contingent tenders will be accepted. All tendering holders of Old Notes, by
execution of this Letter of Transmittal or by tendering Old Notes via ATOP,
shall waive any right to receive notice of the acceptance of their Old Notes for
exchange.

         Neither the Company, the Exchange Agent nor any other person is
obligated to give notice of any defect or irregularity with respect to any
tender of Existing Notes nor shall any of them incur any liability for failure
to give any such notice.

- --------------------------------------------------------------------------------
                                                                         Page 11



     10. Mutilated, Lost, Stolen or Destroyed Old Notes. Any tendering holder
whose Old Notes have been mutilated, lost, stolen or destroyed should contact
the Exchange Agent at the address indicated herein for further instructions.

     11. Requests for Assistance or Additional Copies. Questions and requests
for assistance for additional copies of the Prospectus, this Letter of
Transmittal and the Notice of Guaranteed Delivery may be directed to the
Exchange Agent at the address specified in the Prospectus.

(Do Not Write in The Space Below)

      Certificate                   Old Notes                Old Notes
      Surrendered                   Tendered                 Accepted

- -------------------------  ------------------------- -------------------------

- -------------------------  ------------------------- -------------------------

- -------------------------  ------------------------- -------------------------

- -------------------------  ------------------------- -------------------------

Delivery Prepared by:

________________________Checked By

________________________Date


- --------------------------------------------------------------------------------
                                                                         Page 12



- -------------------------------------------------------------------------------
                           PAYER'S NAME: JACOBS ENTERTAINMENT, INC.
- --------------------------------------------------------------------------------

Name (if joint names, list first and circle the name of the person or entity
whose number you enter in Part I below. See instructions if your name has
changed.)

________________________________________________________________________________

Address_________________________________________________________________________

City, State and ZIP Code________________________________________________________

List account number(s) here (optional)__________________________________________

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SUBSTITUTE                       PART 1--PLEASE PROVIDE YOUR
Form W-9                         TAXPAYER IDENTIFICATION OR TIN
                                 NUMBER ("TIN") IN THE BOX AT RIGHT           _____________________________
                                 AND CERTIFY BY SIGNING AND DATING   ____
                                 BELOW.                                       Social security number or TIN


Department of the Treasury
Internal Revenue Service


Payer's Request for
Taxpayer Identification
Number (TIN)

                                 -------------------------------------- -------------------------------------

                                 PART 2--Check the box if you are       Part 3--
                                 NOT subject to backup withholding
                                 under the provisions of section        Awaiting TIN
                                 3408(a)(1)(C) of the Internal
                                 Revenue Code because (1) you have
                                 not been notified that you are
                                 subject to backup withholding as a
                                 result of failure to report all
                                 interest or dividends or (2) the
                                 Internal Revenue Service has
                                 notified you that you are no longer
                                 subject to backup withholding.
                                 -------------------------------------- -------------------------------------

                                 Certification--Under the penalties of perjury, I certify that the information
                                 provided on this form is true, correct and complete.

                                 Signature ___________________          Date____________________________

- ---------------------------------------- --------------------------------------------------------------------

NOTE:    FAILURE TO COMPLETE AND RETURN THIS FORM MAY RESULT IN BACKUP
         WITHHOLDING OF 30.5% OF ANY PAYMENTS MADE TO YOU PURSUANT TO THE
         EXCHANGE OFFER. PLEASE REVIEW THE ENCLOSED GUIDELINES FOR CERTIFICATION
         OF TAXPAYER IDENTIFICATION NUMBER OF SUBSTITUTE FORM W-9 FOR ADDITIONAL
         DETAILS.



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