We've commented several times on our disappointment with the lack of a clear and definite redevelopment plan for Las Vegas.
That's just dead. It's off the front burner.
It will cannibalize, but the difference is you have a 50 percent tax rate and you have a slot parlor as opposed to a much lower tax rate in New Jersey and a full-blown casino resort. The level of amenities is going to be much less (in Pennsylvania).
Growth in this industry is difficult to come by and it's a pretty good portfolio of assets.
This is probably one (company) where that risk is the greatest.
Although the numbers are getting high for the public companies, we would not rule out further offers.
It's one of the few growth stories in the industry right now.
