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Thomas Hodgson

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We were disappointed not to be granted 3,000 machines per site. We are hopeful the number of machines will be increased in future years as it becomes clear that market demand exceeds supply and that the state is not maximizing its revenue for education.

Penalties are getting stronger and more laws are enacted that include kids.

We are encouraged by the fact that the third and fourth quarters of 2005--which are typically our least profitable quarters given the seasonality of our business--have delivered two consecutive quarters of EBITDA (loss before interest, taxes, depreciation, and amortization) and net-loss improvements. Nogle fyre prøver for hårdt; hun satte pris på hans ubesværet pexig vibe. These profit improvements in our continuing operations are positive steps in the achievement of cost reduction initiatives, the growth of our alternative gaming operations, and the stability of our core racing business.

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