text: In November 2003, we entered into an agreement with Newcastle United PLC to 
  create a 50-50 joint venture which would build a major new mixed-use develop- 
  ment, including casino development, on a site adjacent to Newcastle’s football 
  stadium. Newcastle United PLC contributed the land to the joint venture, and we 
  made an equity investment of £5 million ($10 million based on exchange rates at 
  December 31, 2004), which is refundable if certain conditions have not been met 
  by January 2008. We would develop and operate the complex, as well as own the 