, financial condition and results of operations. The Company believes that successful gaming facilities compete based on the following: location, atmosphere, quality of gaming facilities, entertainment, quality of food and beverage and value. Although the Company believes it competes favorably with respect to these factors, some of its competitors have significantly greater financial and other resources than the Company.

The Company competes with a multitude of casino hotels in the greater Las Vegas metropolitan area. Currently, there are approximately 40 major gaming properties located on or near the Las Vegas Strip, 13 located in the...