Notes to Consolidated Financial Statements50
Existing industry practice related to non-gaming revenues already complied with
EITF 01-9. The retail value of accommodations, food and beverage, and other 
services furnished to guests without charge is included in gross revenue and then
deducted as promotional allowances. The estimated cost of providing such 
promotional allowances is primarily included in casino expenses as follows:
Year Ended December 31 (In thousands) 2004 2003 2002
Rooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 63,652 $ 64,103 $ 60,544
Food and beverage . . . . . . . . . . . . . . . . . . . . . . . . . 191,695 178,399 169,676
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,213 21,560 19,920
$ 280,560 $ 264,062 $ 250,140
Advertising. The Company expenses advertising costs the first time the advertising
takes place. Advertising expense, which is generally included in general and 
administrative expenses, was $57 million, $54 million and $52 million for 2004,
2003 and 2002, respectively.
Corporate expense. Corporate expense represents unallocated payroll and aircraft
costs, professional fees and various other expenses not directly related to the
Company’s casino resort operations. In addition, corporate expense includes the
costs associated with the Company’s evaluation and pursuit of new business 
opportunities, which are expensed as incurred until development of a specific 
project has become probable.
Preopening and start-up expenses.The Company accounts for costs incurred dur-
ing the preopening and start-up phases of operations in accordance with Statement
of Position 98-5, “Reporting on the Costs of Start-up Activities”. Preopening and
start-up costs, including organizational costs, are expensed as incurred. Costs classi-
fied as preopening and start-up expenses include payroll, outside services, advertising,
and other expenses related to new or start-up operations and new customer initiatives.
Income per share of common stock. The weighted-average number of common
and common equivalent shares used in the calculation of basic and diluted earnings
per share consisted of the following:
Year Ended December 31 (In thousands) 2004 2003 2002
Weighted-average common shares outstanding used 
in the calculation of basic earnings per share  . . . . 139,663 148,930 157,809
Potential dilution from stock options and
restricted stock  . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,003 2,662 2,131
Weighted-average common and common equivalent
shares used in the calculation of diluted earnings 
per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144,666 151,592 159,940
Stock-based compensation. The Company accounts for stock-based compensation,
including employee stock option plans, in accordance with Accounting Principles
Board Opinion No. 25, “Accounting for Stock Issued to Employees” and the
Financial Accounting Standards Board’s Interpretation No. 44, “Accounting for
Certain Transactions involving Stock Compensation, an interpretation of APB
Opinion No. 25”, and discloses supplemental information in accordance with
Statement of Financial Accounting Standards No. 123, “Accounting for Stock-Based
Compensation” (“SFAS 123”), as amended by Statement of Financial Accounting
Standards No. 148, “Accounting for Stock-Based Compensation – T ransition and
Disclosure” (“SFAS 148”). The Company does not incur compensation expense for
employee stock options when the exercise price is at least 100% of the market value
of the Company’s common stock on the date of grant. For disclosure purposes,
employee stock options are measured at fair value and compensation is assumed 
to be amortized over the vesting periods of the options. 
In December 2004, the FASB issued FASB Statement No. 123 (revised 2004),
“Share-Based Payment” (“SFAS 123(R)”). Under the original standard, SFAS No.