Marc Falcone Operators Quotations

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.

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.

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

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