The volatility of the high end of the gaming business and the requirements of the business for major ongoing capital investment were key to our decision to sell Caesars.
We are excited about the opportunity to work with Mammoth on their transformation into a world-class resort destination with a real estate component to match one of the continent's finest mountains.
If the market feels it's a coin-toss, we'll have to do something to make it not seem like a coin-toss.
Over the past several months, it became increasingly clear that it would be best for our company to focus on our core global hotel business.
This is a story of growth, ... We're evaluating what we should do.
We don't believe the Hilton bid is superior in any way.
We don't want a fire sale ... Perhaps, we can discuss that but we're not going to gut the company.
We have accomplished a great deal in 1998 and have made enormous progress in laying the foundation for solid future performance. The performance of our lodging operations for the fourth quarter remains strong and ahead of our expectations.
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