Ark Restaurants Corp.

placed on them. We refer everyone to our funds with the Securities and Exchange Commission for more detailed discussion of the risks that may have a direct bearing on our operating results, performance, and financial conditions. I'll now turn the call over to Anthony. Good morning, everyone. A couple of items on our balance sheet. Our cash is $11.3 million, which has been holding relatively

The restaurants are running on a more efficient basis. Cash flows have improved, especially in Vegas and Robert in New York. The properties in Alabama are doing nicely. We're still seeing some deterioration in revenue in our Florida properties that seems to be a problem that everybody's having in in southern, Florida But we're down anywhere from five six seven percent depending on which full-service restaurant Up until recently we were running ahead at the at the food court and the Hollywood casino That's sort of now flat to down slightly. So Florida has been a constant negative in terms of revenues and cash flow. But the business is solid in Las Vegas, solid in Alabama, solid at Robert in New York. We'll get to Brian Park in a second. And Sequoia has had a bad year, primarily, we think, due to what's going on in Washington, D.C. in general. What's going on there affects our catering business dramatically. So our event business has not been beneficial to the company in Washington, D.C. But overall, we're looking at a December which is going to be, I think, significantly better than last year's December quarter. Meadowlands. The issuance of casino licenses in downstate New York, three licenses were issued in early December. That has always been, and I think if you look back at our previous calls, we've always said we didn't think New Jersey would move on issuing casino licenses away from Atlantic City until there was some activity in downstate New York. There has been a bill passed in the New Jersey legislature suggesting from the bill that there will be a referendum on the next ballot, which is this November, for approval of the, you know, and if you look at the bill, it says the Meadowlands Racetrack and Monmouth Racetrack. We don't know what the referendum will wind up being, whether it combines Malmoth and the Meadowlands racetracks as one referendum or separates them. We don't know if the pinpointing of a casino at the Meadowlands racetrack just doesn't become the Meadowlands instead of the Meadowlands racetrack. The Meadowlands has a distinct advantage to any other location, including Malmoth, because there is no residential around it. And all the environmental comments were issued assuming that this referendum passes and the racetrack is the beneficiary of a casino license. We would literally be up to be in business with the casino in the present facility before any significant expansion. by the first quarter of twenty twenty seven. So this could be a very exciting year in terms of our ownership of the of the minority ownership. I must emphasize of the of metal and LLC which controls the racetrack. But we also have an exclusive on all food and beverage if a casino is built in the casino. So this is big deal for us if this were to go forward. Again, there are obstacles. There's no assurances, but we've been waiting for New York to issue these casino licenses for quite a while now. As far as Brian Park goes, we have a litigation going. Nothing has been done in the court to disturb the merit of that litigation. We are operating. The effect on our business until recently has been significant because we weren't able to do events because, you know, people were concerned whether we would be there. Certainly we do not book social events because social events are generally a year to 18 months lead time. And the uncertainty of the litigation in the minds of those people booking those social events is that they can't take the chance. However, corporate events are starting to flow in. We're seeing nice activity there, not where it used to be, but, you know, starting to build. And there is positive cash flow coming out of Bryant Park. that essentially covers the cost of our litigation and our consultants. And so it's sort of paying for itself. How the litigation resolves itself or whether it's a political settlement with the new mayor, I have no opinion about it. But the longer we're there, I think the better our position is. And right now, I don't see anything on the immediate horizon that will disturb our ability to operate the Bryant Park facility. So that's all I have. Please open it up for questions.

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