text: premises within the complex. The agreement is subject to the implementation of 
  proposed gaming law reforms and a tax structure acceptable to the Company, and 
  obtaining required planning and other approvals. 
  
  **Macau.**In connection with the Company’s pending joint venture in Macau (see 
  Note 1), the Company has committed to invest up to $280 million in the entity 
  in the form of capital contributions and shareholder loans. 
  
  **New York Racing Association.**The Company has an understanding with the New 
  York Racing Association (“NYRA”) to manage video lottery terminals (“VLTs”) at 
  NYRA’s Aqueduct horseracing facility in metropolitan New York. The Company 
  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 an investigation of certain aspects 
  of NYRA’s operations by Federal prosecutors. In December 2003, NYRA reached 
  agreement with the Justice Department whereby NYRA was indicted with 
  prosecution deferred. NYRA agreed to pay a fine and the indictment will be 
  dismissed with prejudice upon NYRA implementing certain reforms and otherwise 
  complying with the terms of the agreement. The Company’s participation is subject 
  to a definitive agreement, regulatory approvals and certain legislative changes by the 
  State of New York. 