using VNet1; Host Only to communicate between VM's

Both the guest VM's have same default gateway : 192.168.38.2. Host has the following :

Ethernet adapter VMware Network Adapter VMnet1:

   Connection-specific DNS Suffix  . :
   Description . . . . . . . . . . . : VMware Virtual Ethernet Adapter for VMnet1
   DHCP Enabled. . . . . . . . . . . : No
   Autoconfiguration Enabled . . . . : Yes
   IPv4 Address. . . . . . . . . . . : 192.168.38.1(Preferred)
   Subnet Mask . . . . . . . . . . . : 255.255.255.0
   Default Gateway . . . . . . . . . :

Could two vmware players communicate between each other ? If so, what should be settings of the host and guest for "Host Only"  ?