The Company has committed to invest up to $280 million in the entity in the
form of capital contributions and shareholder loans. The complete design, timing,
cost and scope of the project are at a preliminary stage and are subject to the risks
attendant to large-scale projects.
New York Racing Association. We have an understanding with the New York
Racing Association (“NYRA”) to manage VLTs at NYRA’s Aqueduct horseracing
facility in metropolitan New York. We would assist in the development of the 
facility, including providing project financing, and would manage the facility for a
fee. Work was halted on the VLT facility in August 2003 pending the outcome of