X0202 4 2006-01-10 0 0001170848 SOUTHWEST CASINO CORP swcc 0001346641 Chafoulias Gus A 121 23RD AVENUE SW ROCHESTER MN 55902 1 0 0 0 Common Stock 95139 D Non-statutory common stock option (right to buy) 0.65 2006-01-10 4 A 0 150000 0 A 2016-01-09 Common Stock 150000 150000 D On January 10, 2006, Southwest Casino Corporation issued an option to purchase 150,000 shares of Southwest Casino Corporation common stock in consideration of Mr. Chafoulias's agreement to serve as an independent member of the company's Board of Directors. The option becomes exercisable in equal installments on the last day of each fiscal quarter of the company over a 3-year period. /s/ Gus A. Chafoulias 2006-01-10