BYD
#Yes.
I think it's strictly a matter of just comps are getting more difficult in an improving environment, and we want to see consumer translate into better performance before we get out ahead of ourselves on that.
That's it, <UNK>.
Thanks.
Well, I think we continue to be very interested in growing the company and acquiring assets that are in markets that make sense for us and that will move the needle for us.
And it's a matter of coming to an agreement on price, in many cases.
So we'll continue to look around, we continue to look at as many things as we ever have, and one of these days we'll find something that is in the right market at the right price that we think should be part of our portfolio.
We tend to be fairly selective.
We are not anxious.
We are not going to buy something just to have a deal or to do a deal just to do a deal.
We will find the right asset in the right market at the right price and then we will execute on it.
In the meantime, we will just focus on paying down debt, we'll focus on our non-gaming amenity strategy, and strengthening the existing portfolio until we find someplace else to invest.
But we are clearly interested in continuing to grow the company.
We just have to find the right opportunity.
So they opened in early December.
And so we've seen, just the last three weeks or so of the fourth quarter with that competition, and obviously, the first six weeks of this new year.
And I would say that the impact is about what we were expecting.
It's a little less on the slot side, a little more on the table game side.
They're driving a lot of visitation with some aggressive marketing programs/ And like I think all consumers, that they are going to take a look, but that's the nature of our business, when a new property opens, people go and take a look.
And so we're just going to have to wait and see how and where it settles in and where they settle in from a marketing standpoint and how aggressive they end up being on a longer term basis.
So nothing we are overly concerned with.
Once again, the impact about what we would have expected it to be.
So we'll continue to monitor it and watch it, but nothing we're really concerned about sitting here today.
Thanks, <UNK>.
I'm not sure how much more you close that gap, because what drove that gap is what drove the economy generally when you look back at 2005 through 2007.
Large part of that here locally were construction jobs and the tremendous amount of construction that was going on in this town.
And while we're building construction jobs back, we won't get back to 125,000,135,000 construction jobs in the town, as well as just the freedom at which people, the consumer, generally spent money.
And so thinking we'll gravitate back towards that number, it's certainly not in our thinking any time in the near future.
Yes.
So in reality, it's very similar to the maintenance capital we spent last year and we, in fact, talked to everyone about last year.
We generally said $100 million to $110 million last year, and that's essentially what we're saying this year.
In terms of slot capital, our budgets are essentially flat, we really are ensuring that our floors have the best product out on them to provide our customers the best experience, and we don't see any need, in order to meet that objective, to spend any more than what we are doing currently.
So we feel comfortable about where our floors are and we feel comfortable with the budget we're applying to accomplish that objective.
It was not a cash component of interest.
We could have chosen to pay a portion of it in cash.
We chose not to.
It was a note that was put in place in 2012.
The first year had 0% interest, the next year, I think it was 6%, and then 8%, and then 10% thereafter.
It was just about to reach 10% when we decided to pay off the seller note.
It had a principal amount of about $164 million.
And so basically, we used our revolver to fund that retirement.
The note was recorded at a discount, according to the proper way to account for it, and so when we retired it, there was a charge related to retiring the note, but that's related simply to how it was accounted for on the books.
I don't know if that answers all your questions around it, <UNK>, or not.
Good.
Okay.
Thank you.
Sure.
Thanks, Jamie, and thanks for each of you for joining the call today.
If you have any follow-up questions or questions that you would like answered, please feel free to call the Company and we'll be as responsive as we can to get you the answers you need.
So thank you for dialing in today.
