text: In May 2003, we purchased a 25% interest in Metro Casinos Limited, a company 
  which was developing a new casino in Bristol. Metro Casinos Limited is a sub- 
  sidiary of R J Bown (Holdings) Ltd, the owner of the Westcliff Casino, one of the 
  largest United Kingdom provincial casinos. We received regulatory approval for our 
  investment in Metro Casinos Limited from the Gaming Board for Great Britain in 
  November 2003. The Bristol facility opened in February 2004. 
  
  In October 2003, we entered into an agreement with the Earls Court and Olympia 
  Group, which operates large exhibition and trade show facilities in London, to form a 
  jointly owned company which would develop an entertainment and gaming facility, 
  which we would operate in space leased from the Earls Court and Olympia Group, to 
  complement the existing Olympia facilities. We made a deposit of £2 million ($4 mil- 
  lion based on exchange rates at December 31, 2004), which is refundable if proposed 
  gaming law reforms are not implemented by December 2005. Otherwise, the deposit 
  will be applied to the first year’s rent on a lease between the new company and the Earls 
  Court and Olympia Group. We would make a nominal equity investment and would 
  provide a loan for half of the estimated development costs. The agreement is subject to 
  the implementation of proposed gaming law reforms and a tax structure acceptable to 
  us, and obtaining required planning and other approvals. We own 82.5% of the entity. 