1297735--3/16/2006--American_Casino_&_Entertainment_Properties_LLC

related topics
{debt, indebtedness, cash}
{competitive, industry, competition}
{condition, economic, financial}
{personnel, key, retain}
{cost, contract, operation}
We face substantial competition in the hotel and casino industry. Economic downturns, terrorism and the uncertainty of war, as well as other factors affecting discretionary consumer spending, could reduce the number of our visitors or the amount of money visitors spend at our casinos. Our hotels and casinos may need to increase capital expenditures to compete effectively. Our hotels and casinos may incur substantial costs as a result of our growth and expansion strategy. We have substantial leverage and debt service. We are a holding company and will depend on the business of our subsidiaries to satisfy our obligations under the notes. The loss of management and other key personnel could significantly harm our business, and the quality of individuals hired for positions in the hotel and gaming operations will be critical to the success of our business. Because we are currently dependent upon three properties for all our cash flow, we will be subject to greater risks than a gaming company with more operating properties or that operates in more markets. Our parent, AREP Gaming, intends to assign the rights to acquire the Flamingo in Laughlin, Nevada to us, but we cannot guarantee that we will be able to satisfy the conditions of the acquisition or that we will recover our investment made in connection with the acquisition.

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