1297735--3/6/2007--American_Casino_&_Entertainment_Properties

related topics

{competitive, industry, competition}

{cost, contract, operation}

{condition, economic, financial}

{investment, property, distribution}

{personnel, key, retain}

{cost, regulation, environmental}

Rising operating costs for our gaming properties could have a negative impact on our profitability. 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. 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 four 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. We are an indirect subsidiary of American Real Estate Partners, L.P., which will be able to make all decisions concerning us. We may be subject to the pension liabilities of our affiliates.

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1297735--3/6/2007--American_Casino_&_Entertainment_Properties_LLC