Marc Falcone Believe Quotations

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

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 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 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.

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

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.

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.

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

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

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