X0303 4 2008-03-31 0 0001103993 LAS VEGAS GAMING INC None 0001308608 Berkley Jon David 4000 W. ALI BABA LANE SUITE D LAS VEGAS NV 89118 1 1 0 0 CEO and President Common Stock Series A 2008-03-31 4 A 0 11808 2 A 11808 D Options/Right to Buy 5 2008-03-31 4 A 0 10000 0 A 2008-03-31 2013-03-31 Common Stock Series A 10000 10000 D Options/Right to Buy 5 2012-06-04 Common Stock Series A 200000 200000 D Options/Right to Buy 5 2012-06-04 Common Stock Series A 200000 200000 D On March 31, 2008, Las Vegas Gaming, Inc. (the "Company") issued 11,808 shares of Common Stock Series A to the reporting person in lieu of salary. On March 31, 2008, the Company granted options to purchase 10,000 shares of the Company's Common Stock Series A at $5.00 per share to the reporting person for his service on the Board of Directors for 2007. The options are fully vested and exercisable. On June 11, 2007, to be effective June 4, 2007, the Company granted the reporting person qualified options to purchase 200,000 shares of the Company's Common Stock Series A at $5.00 per share for his service as President and CEO of the Company, pursuant to the Company's Stock Option Plan (2000). 50,000 options are fully vested and exercisable. The balance of the options shall vest at a rate of 50,000 shares per year beginning June 4, 2008. On June 11, 2007, to be effective June 4, 2007, the Company granted the reporting person non-qualified options to purchase 200,000 shares of the Company's Common Stock Series A at $5.00 per share for his service as President and CEO of the Company. 50,000 options are fully vested and exercisable. The balance of the options shall vest at a rate of 50,000 shares per year beginning June 4, 2008. /s/ Jon David Berkley 2008-07-01