Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| But the demographics of what we have here is significantly better than what they have at Durango Station |
| And we continue to believe strongly in those figures |
| And at the end of the day, that's also good for the employees because we can pay people more per person if we have fewer people, as long as we're providing the same good service |
| And the need that we have a year away is a lot less than people think because we're producing really good free cash flow |
| Over the next few years, the debt markets have the potential to show continued improvement, with the potential for interest rate cuts between now and that future financing day |
| And so, for example, at American Place, I thought we would be where -- before we opened, I would have thought we would be where we are now several months ago, but we are where we are now, and it continues to get better every month and that's great |
| And most importantly, the August 2027 extension offers us more time to generate even more positive free cash flow, allowing us to self-fund a large portion of our permanent American Place facility |
| At American Place's anniversary party, a few weeks ago, we did double the coin-in of opening night, and had coin-in that was about 50% higher than our previous record for a single day |
| And for us, it is about making sure that the people that were inconvenienced will have a very, very good experience there the next time they come back |
| But February in general is shaped up to be a really good month |
| But most of the way we get there is improve revenue |
| So, no, it was a very, very good month |
| But recognize, we just finished a year where we had $48 million of EBDIT, it's the best year in the history of the company |
| So it was good from that standpoint |
| We want it to be trending positively to get to that $50 million in each place, and $30 million from the traditional places |
| We want everyone to have a good experience |
| The service is great |
| So the permanent will have much better curb appeal and be even nicer on the inside |
| March is also off to a good start |
| And we're pretty sure we'll win |
| And so if it's done right, it's a win-win |
| But it is an important addition for a good high-end plus market that's needed -- [technical difficulty] -- Dan Lee And Jeff's right here |
| With American Place and Chamonix both now opened, and construction CapEx winding down, we are now set up for significant free cash flow generation |
| Before we started construction, I would go up to Black Hawk and look around because we're pretty similar to Ameristar or Monarch, which are both very successful |
| I go to Durango Station, and I kind of drool, because frankly, they did a very nice job there |
| We will have better curb appeal than Rivers |
| But even a dishwasher has to be licensed by the Gaming Commission, and that's an ominous 25-page form, and that that's been a little bit of a challenge, but we're working through that, and we now have a pretty stable workforce here, and we're pretty happy with it |
| And we should be able to generate quite a bit of cash in the next three years in order to build American Place to permanent |
| But just about any way you analyze it, you get a pretty good return, which is what happens if you have the closest casino to 1 million people |
| So, we're -- we fully believe that there is more revenue uplift that you're going to see from here |
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| But I think even adding that back, the margin was a step down sequentially than we would have expected |
| January was certainly a challenging month system-wide with snow everywhere, crazy levels of snow |
| And Cripple Creek is challenging |
| So we knew that there were going to be issues with the opening |
| It's going to be remarkable in that market, but with the soft opening, several inconveniences, I'll say, that negatively impacted the player experience in the first days, weeks following the soft opening |
| I mean, probably the biggest thing we've seen is we lost some employees to Billy's when they were opening and they've come back, a number of them |
| But it doesn't have the curb appeal that you drive by and say, "Wow, look at that." Once you walk in, it's much nicer than you expect from the outside, but getting people to walk in the door is a little bit of a challenge |
| And hopefully, that's the worst surprise we're going to have at this one |
| Every single casino opening that I've been to, that Dan's been to, has had some issue |
| And usually the satisfied people don't go out and complain, right? It's the unsatisfied people |
| But getting Colorado completed in a small town in the backside of Pikes Peak has been a challenge, but it's mostly done now |
| So, getting people to commute to this mountain community and work is a challenge |
| And I was there, and it -- their proposal was pretty bad |
| And it was doubly difficult in this case because we had zero people in the database the day that we opened |
| And coincidentally, one of the heating units had failed |
| And, basically, if half the incremental revenue falls to the bottom line that brings up margins, because the margins are still lower than they will be at maturity |
| And I think any new hotel has those issues |
| Dan Lee And seasonally, the fourth quarter is our weakest quarter in most markets |
| Just some commentary out there has been labor levels or wages continue to go up and impact margins |
| I can tell you about issues at Fontainebleau, Bellagio, Mirage |
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