Marc Falcone Quotations

When you take out the one-time charges, they actually beat the projected results by 10 cents per share.

We believe that higher bids could be likely from both Colony and Pinnacle.

We believe that Boyd should also benefit from this continued Las Vegas locals growth, so we're currently projecting 9 percent (third-quarter) revenue growth for its Boulder Strip and Coast properties.

Las Vegas is one of the top destination getaways in North America and a great value compared with the alternatives such as Disney World, New York City and San Francisco.

Much of the surrounding area and feeder markets suffered considerable damage, which could certainly depress business in the near term. Pinnacle has the largest exposure to the market, which is a concern considering the recent impact to the company from Katrina.

Plus, Las Vegas will be the beneficiary of displaced convention business (from New Orleans), which will help stimulate demand.

I have a hard time believing they would turn away if the project were to come in at, say $1.3 billion.

I think every major casino company wants to get into online gaming but without access to the U.S. market it becomes a costly venture.

Overall, we remain impressed with results from the high-end business and expect that the addition of Wynn Las Vegas will help maintain the strong momentum.

Overall, it was a pretty good quarter given the concerns that existed at the beginning of the summer. Overall, the summer turned out to be stronger than Wall Street investors had been anticipating.

We continue to like Shuffle Master's longer-term outlook and remain comfortable with the company's business model and revenue mix.

We continue to believe the acquisition would make strategic sense for Pinnacle, transforming it from a regional operator to a national casino company with an extensive development pipeline.

We believe this is likely the first of several projects of similar size and scope, which we anticipate could Include Reno and Durango. We expect Station Casinos to provide a more detailed development outlook on the company's fourth-quarter earnings call (in January).

We believe the state of Mississippi's dependence on the gaming industry will be an important factor in passage of legislation that is more protective of these two valuable sources of economic vitality.

We believe the relationship with a local partner could be a particularly important factor in the decision.

We anticipate that it could be some time before operators have a clear picture of insurance receipts, which could make earnings reports for operators confusing over the next year or longer.

Wynn rates are tracking at a 10 percent to 15 percent premium to the market and are averaging $300-$330 through November.

We would be buying Boyd Gaming shares ahead of the analyst meeting next week given the likely favorable response to South Coast and the pending announcement on the Stardust redevelopment.

We believe Shuffle Master can continue to grow earnings per share at 25 percent to 30 percent.

We believe Red Rock will redefine a new development and experience standard for both the locals and Las Vegas Strip markets.

This will certainly open up the sport to a lot of people who might not just go directly to a track to bet on horses. That's where we see significant growth opportunities.

The opening of Red Rock is a highly anticipated event. We think it will do exceptionally well due to its location and quality.

While Harrah's may have the most exposure in terms of the number of properties and total dollar amount of cash flow in the Gulf region, the impact for the company is not significant as a percent of total cash flow.

While these estimates could still potentially change, we thought it could be useful to forecast a base case for the impacted casinos, giving investors an idea of the

This offering is not a complete surprise, reducing insider ownership and improving the liquidity of the stock. However, we find the timing of the sale interesting, ahead of the opening of Wynn Macau in the third quarter of 2006.

Broadly speaking, there is limited tourism in the French Quarter, as opposed to the population in the suburbs. It's encouraging for the local economy and I think they'll do a good business with construction workers.

Conversations with Strip operators indicate that business volumes over New Year's Eve in Las Vegas were up significantly year over year. Additionally, we believe expectations for the fourth quarter on the whole are low and operators could exceed them.

earnings could be messy over the near term and possibly impacted for the next 12 (months) to 24 months.

Is it just a spigot you turn on, the people are waiting and just turn up? It's difficult to say.

Some fear the machines will serve as a distraction to the fans and deter them from placing pari-mutuel bets. And the results of such machines have been mixed.

Despite the phenomenal growth of Las Vegas, the construction talent pool is not deep enough to provide the needed labor to build all currently announced projects. We believe if all announced and anticipated projects were to proceed before the end of the decade, a significant portion would not get off the ground given the limited depth of the construction talent pool, most importantly subcontractors.

As has been anticipated, the property impressed and easily exceeded even our lofty expectations.

The broader trend is private-equity interests in hotel assets.

They have a clear strategy, a great brand name and top assets. CDI could surprise some people in the next couple of years.

They have a clear strategy, a great brand name and top assets, ... CDI could surprise some people in the next couple of years.

As we've repeatedly said, this is the type of announcement that is reflective of the strength of MGM Mirage management and its ability to find strategic opportunities globally when investors are least expecting it.

The bids lower than the $47 offer from Columbia indicate that operators believe licensing could pose a difficulty in that proposal.

It's clear Wynn Las Vegas is growing the market across every segment, slots, table games and baccarat.

It's difficult to find a lot of negativity toward the group. Clearly, the fundamentals are very strong, and I expect that to continue.

They would create a more efficient environment for employees and a more enjoyable experience for customers as well as being built in more protected areas.

In all likelihood, operators will start getting business interruption insurance in the fourth quarter, which would add upside to our forecasts.

If Lake Charles avoids a direct hit, devastation to the primary feeder market could have a negative impact as coverage from business interruption insurance is not certain.

Investors may be caught a little bit off guard by the price tag.

I don't know how they will get these companies to invest millions into these projects unless they are allowed to build them on land. They would not only protect the assets of the casino companies, but land-based casinos could benefit the market greatly.

All-in, we expected a messy quarter, and results came in slightly above our expectations.

The first quarter results were quite strong. All key assets were drivers.