2/11/2025

speaker
Michael
Chief Financial Officer

Which practice you're looking for? Okay, I'll bring you later. Okay.

speaker
Andrew Weinstein
Chief Executive Officer

Helpful in increasing demand, so we'll wait and see on that. All in all, we're just, you know, margins have been squeezed. We're trying to pick the margins up by being more efficient in payroll and hopefully driving some more revenue The easy one to talk about, the two elephants in the room, Meadowlands and Bryant Park. Meadowlands, again, we think we're the most likely site for gaining a casino license in the north of New Jersey, but New Jersey will not move until New York State starts to issue licenses for downstate casinos meaning Manhattan or Queens or the Bronx. Two of those licenses we suspect will be issued to Aqueduct and to Yonkers. We believe that once they're issued it will take a matter of months for those to become fully operational casinos because the facilities are already built. For the third license, and there are several developers vying for those, that will take some time. But we think the implementation of casino licenses at Yonkers and Aqueduct will force Jersey to make a decision that they have to do something in the North. has been dying for years, and I think this would really be a death knell, and Jersey will wake up and issue a license in the north. We suspect that New York State will issue licenses sometime later this year, so we also expect that that will generate a referendum to allow, it's a referendum voted on by the public, to allow for casino gaming in the north. So that's the metaverse. Brian Clark, if we follow the headlines, the Brian Clark Corporation has said they want to go forward with somebody other than us. That deal has not been signed yet. It requires a positive... okay from the Parks Department in the New York Public Library. We've hired a whole team of experts and we feel that we have a decent chance of retaining the operation of that facility. It'll take months to know, but we really believe we're still in the game. We think the whole request for proposal process was flawed and the thing that we don't understand is that the new license to operate would be issued to a company that has limited hospitality experience, we've been hugely successful, and their minimum rent proposal is a million dollars less than us. So it just doesn't sound like it's a logical business arrangement, and we're looking into it, and hopefully we will see something that starts to move us back into our direction. So with that, any questions? I'm happy to answer.

speaker
Operator
Conference Operator

Thank you. We will now be conducting a question and answer session. If you would like to ask a question, please press star 1 on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your questions on the queue. For participants using speaker equipment, it may be necessary to pick up your headset before pressing the star keys. One moment, please, while we poll for questions. Thank you. Our first question comes from the line of Jeffrey Kaminski with JJK Consulting. Please proceed with your questions.

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