Exhibit 1 [BANK OF OKLAHOMA LETTERHEAD] Via UPS Overnight Courier May 1, 1998 Mr. W. Bennett Collett Chairman and Chief Executive Officer Florida Gaming Corporation P.O. Box 3027 Louisville, KY 40201 Re: Modification of Repayment Schedule Agreement...Modification of Repayment Schedule Agreement • May 15th, 1998 • Florida Gaming Corp • Services-miscellaneous amusement & recreation
By letter dated December 2, 1997, Bank of Oklahoma, National Association ("BOK") did notify Florida Gaming Corporation ("FGC") of the following defaults on that Secured Note Negotiable Promissory Installment Note of FGC dated September 12, 1996 in the original amount of $6,000,000.00 ("Note") which Note is payable to BOK.
