Despite a robust statewide performance, the Louisiana market remains challenging for Harrah's (Entertainment).

In general there's more growth outside the U.S. than inside the U.S. in terms of new or expanded markets.

Things aren't great right now, but things are improving. Every month should be a little bit better.

We think fundamentals are okay on the Strip. Growth is decelerating, but it was healthy to begin with. No one would have anticipated continual double-digit growth.

It can expand its brands in China, Europe, India, and South American, and it immediately increases its presence in Europe, where there is more upside/recovery to (revenue per available room) than in the United States.

We continue to see considerable risk in the redevelopment of the (Tropicana).

This would be challenging and complicated.

(It) poses a potential risk as the company has had little experience designing and executing on a project of this size.

Louisiana's performance in the wake of the hurricanes is impressive. Statewide results are receiving a strong boost from construction crews and other personnel in the region for the post-hurricane reconstruction. We think displaced gamblers from the Mississippi Gulf Coast are also driving growth.