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<!-- EDGAR Online I-Metrix Xcelerate Instance Document, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version:  6.14.9 -->
<!-- Round: cc17e073-822b-4e31-af16-1fd80d25fd05 -->
<!-- Creation date: 2012-05-08T20:00:09Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
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  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_5D5D1E4E-78FC-4995-B3BB-6552806EC8B6_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;12.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Membership
Interests&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The Company&amp;#x2019;s
membership interests are comprised of Class&amp;#xA0;A and Class B
Membership Interests. Holders of Class&amp;#xA0;A Membership Interests
are entitled to vote on any matter to be voted upon by the members.
Holders of Class B Membership Interests have all the economic
interests in the Company and, except as provided by law, do not
have any right to vote.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;100% of the Company&amp;#x2019;s
Class&amp;#xA0;A membership interests are held by Nevada Voteco and
100% of the Company&amp;#x2019;s Class B membership interests are held
by Nevada Mezz.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
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&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;2.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Basis of Presentation,
Principles of Consolidation and Summary of Significant Accounting
Principles&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The unaudited interim
condensed consolidated financial statements included herein have
been prepared pursuant to the rules and regulations of the
U.S.&amp;#xA0;Securities and Exchange Commission (&amp;#x201C;SEC&amp;#x201D;).
Although we believe the disclosures made are adequate to make the
information presented not misleading, certain information and
footnote disclosures normally included in financial statements
prepared in accordance with generally accepted accounting
principles in the United States (&amp;#x201C;US GAAP&amp;#x201D;) have been
condensed or omitted pursuant to such rules or regulations. In
management&amp;#x2019;s opinion, all adjustments and normal recurring
accruals necessary for a fair presentation of the results for the
interim periods have been made. The results for the three months
ended March&amp;#xA0;31, 2012 are not necessarily indicative of results
to be expected for the full fiscal year. The year-end condensed
balance sheet data was derived from audited financial statements,
but does not include all disclosures required by US GAAP. These
interim condensed consolidated financial statements should be read
in conjunction with the audited consolidated financial statements
included in our Annual Report on Form 10-K which was filed with the
SEC on March&amp;#xA0;23, 2012.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;As previously noted, the
Company is an indirect wholly-owned subsidiary of Deutsche Bank. In
the normal course of business, the Company&amp;#x2019;s operations may
include significant transactions conducted with Deutsche Bank or
affiliated entities of Deutsche Bank.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;&lt;i&gt;Use of
Estimates&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The preparation of
unaudited condensed consolidated financial statements in conformity
with US&amp;#xA0;GAAP requires management to make estimates and
assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at
the date of the condensed consolidated financial statements and the
reported amounts of income and expenses during the reporting
period. Estimates used by us include, among other things, the
estimated useful lives for depreciable and amortizable assets, the
estimated allowance for doubtful accounts receivable, estimated
income tax provisions, the evaluation of the future realization of
deferred tax assets, determining the adequacy of reserves for
self-insured liabilities and our Identity customer reward program,
estimated cash flows in assessing the recoverability of long-lived
assets and asset impairments, and contingencies and litigation.
Management evaluates its estimates and assumptions on an ongoing
basis using historical experience and other factors, including the
current economic environment. Although management believes these
estimates are based upon reasonable assumptions within the bounds
of its knowledge of the Company&amp;#x2019;s business and operations,
actual results could differ materially from those
estimates.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;&lt;i&gt;Fair Value of
Financial Instruments&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The carrying value of the
Company&amp;#x2019;s cash and cash equivalents, restricted cash, and
accounts payable approximates fair value due to their short-term
maturities. All of the Company&amp;#x2019;s debt is held by an affiliate
and accrues interest at three month LIBOR plus 85 basis points.
LIBOR is determined two days in advance of the funding based on
publicly available quotes published by Reuters. Interest is
calculated on the basis of actual days outstanding over a 360 day
year. Given the related party nature of the Company&amp;#x2019;s debt,
it is unlikely that the Company could obtain similar financing on
the same terms with a third party in an arm&amp;#x2019;s length
transaction.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;&lt;i&gt;Newly Issued
Accounting Pronouncements&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;In December 2011, FASB
issued ASU No.&amp;#xA0;2011-11, &amp;#x201C;Balance Sheet (Topic 210)
Disclosures about Offsetting Assets and Liabilities&amp;#x201D;. This
ASU requires an entity to disclose information about offsetting and
related arrangements to enable users of its financial statements to
understand the effect of those arrangements on its financial
position. The amendments will enhance disclosures required by U.S.
GAAP by requiring improved information about financial instruments
and derivative instruments that are either (1)&amp;#xA0;offset in
accordance with either Section&amp;#xA0;210-20-45 or
Section&amp;#xA0;815-10-45 or (2)&amp;#xA0;subject to an enforceable master
netting arrangement or similar agreement, irrespective of whether
they are offset in accordance with either Section&amp;#xA0;210-20-45 or
Section&amp;#xA0;815-10-45. The Company does not currently have any
financial instruments and derivative instruments to report. The
adoption of this amendment will only impact the disclosures in the
Company&amp;#x2019;s consolidated condensed financial statements in
future periods should the Company obtain a financial instrument or
derivative instrument.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;In June 2011, the Financial
Accounting Standards Board (&amp;#x201C;FASB&amp;#x201D;) issued Accounting
Standards Update (&amp;#x201C;ASU&amp;#x201D;) No.&amp;#xA0;2011-05,
&amp;#x201C;Comprehensive Income (Topic 220): Presentation of
Comprehensive Income&amp;#x201D;. This ASU amends the FASB Accounting
Standards Codification (Codification) to allow an entity the option
to present the total of comprehensive income, the components of net
income, and the components of other comprehensive income either in
a single continuous statement of comprehensive income or in two
separate but consecutive statements. In both choices, an entity is
required to present each component of net income along with total
net income, each component of other comprehensive income along with
a total for other comprehensive income, and a total amount for
comprehensive income. ASU 2011-05 eliminates the option to present
the components of other comprehensive income as part of the
statement of changes in stockholders&amp;#x2019; equity. The amendments
to the Codification in the ASU do not change the items that must be
reported in other comprehensive income or when an item of other
comprehensive income must be reclassified to net income. ASU
2011-05 will be applied retrospectively. ASU 2011-05 is effective
for fiscal years, and interim periods within those years, beginning
after December&amp;#xA0;15, 2011. The Company does not currently have
any comprehensive income to report. The adoption of this amendment
will only impact the presentation of any comprehensive income that
may become reportable on the Company&amp;#x2019;s consolidated condensed
financial statements in future periods.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;In December 2011, FASB
issued ASU No.&amp;#xA0;2011-12, &amp;#x201C;Comprehensive Income (Topic
220): Deferral of the Effective Date for Amendments to the
Presentation of Reclassifications of Items Out of Accumulated Other
Comprehensive Income in Accounting Standards Update
No.&amp;#xA0;2011-05&amp;#x201D;. This ASU defers only those changes in ASU
No.&amp;#xA0;2011-05 that relate to the presentation of
reclassification adjustments. All other requirements in ASU
No.&amp;#xA0;2011-05 are not affected by this update, including the
requirement to report comprehensive income either in a single
continuous financial statement or in two separate but consecutive
financial statements. The Company does not currently have any
comprehensive income to report.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;No other new accounting
pronouncements issued or effective during 2011 or 2012 have had or
are expected to have a material impact on the Company&amp;#x2019;s
financial position or results of operations.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
  <us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_18">77000</us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>
  <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_19">-11914000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <us-gaap:InvestmentIncomeInterest contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_22">123000</us-gaap:InvestmentIncomeInterest>
  <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_6">8449000</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <us-gaap:Revenues contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_7">143102000</us-gaap:Revenues>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_AAAAB843-1BF9-4A44-9CB2-7231FE129571_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"&gt;
&lt;tr&gt;
&lt;td width="4%" valign="top" align="left"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;11.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;Commitments,
Contingencies and Litigation&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; margin-left:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;a. Property General
Contractor and other purchase obligations&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company has engaged
Perini Building Company (&amp;#x201C;Perini&amp;#x201D;) to act as the
general contractor for the Property. Perini operates under a
Guaranteed Maximum Price (&amp;#x201C;GMP&amp;#x201D;) contract that defines
the scope of work to be performed, establishes the budget for the
scope of work, and sets the general time scale of the job. As of
March&amp;#xA0;31, 2012 remaining amounts expected to be paid to Perini
under the GMP and approved change orders totaled $3.4
million.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;During 2010, the Company
engaged W A Richardson Builders LLC (&amp;#x201C;WARB&amp;#x201D;) to act as
the general contractor for the build-out of our spa and
restaurants. As of March&amp;#xA0;31, 2012 amounts expected to be paid
to WARB under executed contracts totaled
$0.3&amp;#xA0;million.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;As of March&amp;#xA0;31, 2012
the Company had total construction commitments of $20.8
million.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:18px;margin-bottom:0px; margin-left:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;b. Jockey Club
Agreement&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Upon acquisition, the
Company, as lessor, assumed a 99-year lease agreement with the
Jockey Condominium, Inc. (&amp;#x201C;JCI&amp;#x201D;), the homeowners&amp;#x2019;
association of a timeshare condominium development located adjacent
to the Property. Under the terms of the lease agreement, the
Company is required to provide non-exclusive access and use to
various public portions of the Property, and provide 358 parking
spaces in the Property&amp;#x2019;s parking facility for the condominium
development&amp;#x2019;s use. Although, JCI is not required to pay base
rent, the lease agreement provides that JCI shall pay operating
expenses associated with the parking spaces for their allocable
share of the parking facility.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:18px;margin-bottom:0px; margin-left:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;c. Condominium
Litigation&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company was a named
defendant in a number of lawsuits and arbitrations concerning the
purchase and sale of condominium units located within the East and
West Towers of the Property. The plaintiffs alleged, among other
things, that delays in the completion of the Property and changes
to the design of the Property constituted material breaches by the
Company, thus permitting the plaintiffs/purchasers to rescind their
contract and receive a full refund of their earnest money deposit,
plus interest thereon. The Company was represented in each of these
matters by outside legal counsel.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font-size:1px;margin-top:12px;margin-bottom:0px"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:0px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;In December 2009, the
Company finalized a class action settlement with 1,050 condominium
purchasers in the West Tower of the Property, with said purchasers
receiving 74.4% of their principal deposits, and the Company
retaining 25.6% of same, plus all interest thereon resulting in a
net gain of approximately $34.5 million which the Company
recognized as net settlement income within the 2009 consolidated
statement of operations. The remaining 270 purchasers in the West
Tower of the Property elected to opt out of and not participate in
the settlement, thus preserving their legal and contractual rights.
If all purchase contracts associated with these settlements had
closed pursuant to their terms, total net sales proceeds would have
been approximately $708.0 million. The cancellation of these
contracts therefore, reduced expected net sales proceeds by $673.5
million.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;In April 2010, the Company
finalized a class action settlement with 427 condominium purchasers
in the East Tower of the Property, with said purchasers receiving
68.0% of their principal deposits, and the Company retaining 32.0%
of same, plus all interest thereon resulting in a net gain of
approximately $18.0 million which the Company recognized as net
settlement income in the consolidated statement of operations. The
remaining 63 purchasers in the East Tower of the Property elected
to opt out of and not participate in the settlement, thus
preserving their legal and contractual rights. If all purchase
contracts associated with these settlements had closed pursuant to
their terms, total net sales proceeds would have been approximately
$345.2 million. The cancellation of these contracts therefore,
reduced expected net sales proceeds by $327.2
million.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Since the time of the class
action settlements described above, some of the purchasers within
the East and the West Towers who had previously opted out of the
settlement offers, have settled their claims with us in individual
transactions on terms identical to the applicable class action
settlement resulting in an additional $4.3 million in net
settlement income in 2010.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;In the three months ended
March&amp;#xA0;31, 2011, 15 of the condominium purchasers closed on
their respective units pursuant to terms of the original purchase
contracts. Net proceeds from the sale of these condominium units
were $14.5 million resulting in a gain of $7.3 million which has
been recorded as gain on sale of fixed assets in the accompanying
Condensed Consolidated Statement of Operations.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;In the three months ended
June&amp;#xA0;30, 2011, an additional 2 of the condominium purchasers
closed on their respective units pursuant to terms of the original
purchase contracts. Net proceeds from the sale of these condominium
units were $1.8 million resulting in a gain of $0.9 million which
has been recorded as gain on sale of fixed assets in the
accompanying Condensed Consolidated Statement of Operations. None
of the condominium purchasers closed on their respective units in
the three months ended September&amp;#xA0;30, 2011.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;A purported class action
lawsuit was filed against the Company during March 2011 on behalf
of all buyers who previously accepted class action settlements. The
complaint alleges that the Company failed to disclose material
information about the Property to unit purchasers prior to entering
into the class action settlements. The complaint asserts claims of
fraud, unjust enrichment and money had and received. The plaintiffs
are seeking an order compelling the return of the balance of
deposits forfeited in the class settlements and additional damages
in an unspecified amount. The Company had filed a motion to dismiss
the case and on October&amp;#xA0;28, 2011, the counsel for the
plaintiffs voluntarily dismissed the action. Two separate lawsuits
were filed against the Company during April 2011 and May 2011 on
behalf of real estate brokers and/or agents purporting to have
represented either the buyers or seller under the condominium unit
purchase and sale agreements. The complaints include various causes
of action and seek to recover unpaid sales commissions allegedly
owed the plaintiffs as a result of the sale of condominium-hotel
units in the East and West Towers of the Property. The Company
denies the allegations contained in these complaints and has filed
a motion to dismiss in each of the actions. To date, no rulings
have been issued on the Company&amp;#x2019;s motions.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Several individual
condominium purchasers who opted out of the class action
settlements have commenced confidential arbitrations alleging that
the Company defaulted under the condominium unit purchase contracts
and are seeking a refund of their deposits. One purchaser has
commenced a confidential arbitration proceeding seeking an order
compelling the Company to complete a penthouse unit. Arbitration
hearings on several of these matters have been held. During July
and September 2011, the Company received rulings in two arbitration
proceedings that resulted in an immaterial net gain to the Company
which was booked within the three months ended September&amp;#xA0;30,
2011.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font-size:1px;margin-top:12px;margin-bottom:0px"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:0px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;For each of these claims and
those discussed above, the Company believes that it has strong
legal defenses, and intends to vigorously defend its position.
Management does not believe that these claims or those discussed
above will have a material adverse impact on the condensed
consolidated financial position, cash flows, or the results of
operations of the Company.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;In the first quarter of
2012, buyers representing 178 condominium-hotel units in The
Cosmopolitan agreed to settle and release their claims against the
Company arising under their agreements to purchase the condominium
hotel units. Under the terms of the settlements, buyers of units in
the West Tower of The Cosmopolitan received a refund of 50% of
their principal earnest money deposits and buyers of units in the
East Tower received a refund of 40% of their principal earnest
money deposits. The Company retained 50% of the principal deposits,
plus 100% of all interest, under the West Tower purchase contracts,
and 60% of the principal deposits, plus 100% of all interest, under
the East Tower purchase contracts, resulting in a net gain of $13.1
million which the Company recognized as net settlement income in
its Condensed Consolidated Statement of Operations for the three
months ended March&amp;#xA0;31, 2012.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;In April 2012, a buyer
agreed to settle and release his claim against the Company arising
under his agreement to purchase a condominium hotel unit. Under the
terms of the settlement, the buyer of the unit in the EastTower of
The Cosmopolitan received a refund of 100% of his principal earnest
money deposit together with all interest earned thereon less an
escrow cancelation fee resulting in a net loss of $0.4 million
which the Company recognized as net settlement loss in its
Condensed Consolidated Statement of Operations for the three months
ended March&amp;#xA0;31, 2012.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;As of May&amp;#xA0;9, 2012,
there were 15 condominium hotel units remaining under contract at
The Cosmopolitan. The Company is actively engaged in various
arbitration and other dispute resolution proceedings with respect
to all of those units. Those proceedings are in varying stages and
the Company disputes the allegations made by the buyers in those
proceedings. The Company expects that some of the units remaining
under contract will be settled under the same terms described in
the preceding paragraph and intends to initiate arbitration
proceedings against the buyers of any remaining units who do not
agree to settle and release their claims as provided
above.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:18px;margin-bottom:0px; margin-left:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;d. Wage and Hour Class
Action Suit&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company received a
notice of intent to file a class action lawsuit related to unpaid
compensation for time incurred by employees while on property for
donning and doffing of the employees&amp;#x2019; required uniform and
alleged improper rounding of time for hours worked. The Company is
in the process of evaluating the notice of intent and cannot at
this time determine the potential impact of the notice of intent to
sue on the condensed consolidated financial position, cash flows,
or the results of operations of the Company.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:18px;margin-bottom:0px; margin-left:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;e. Other
Matters&lt;/b&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company is subject to
various claims and litigation arising in the normal course of
business. In the opinion of management, all pending legal matters
are either adequately covered by insurance or, if not insured, will
not have a material adverse impact on the condensed consolidated
financial position, cash flows, or the results of operations of the
Company.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:CostsAndExpenses contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_18">179425000</us-gaap:CostsAndExpenses>
  <us-gaap:DebtDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_8DEE7B49-A8AD-4FF2-9EEF-684363191DB4_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"&gt;
&lt;tr&gt;
&lt;td width="4%" valign="top" align="left"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;9.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;Loan Payable to
Affiliate&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company maintains a $3.9
billion credit facility with Deutsche Bank AG Cayman Island Branch
(&amp;#x201C;DBCI&amp;#x201D;), a Branch of Deutsche Bank AG. On
March&amp;#xA0;3, 2010, $1.6 billion of this facility was converted
into a committed line of credit. DBCI has no obligation to provide
the Company with additional funding beyond the $3.9 billion credit
facility. Amounts under the total facility are drawn down in
tranches which have varying maturity dates and are automatically
renewed upon their expiration at the prevailing interest rates. The
credit facility does not include any financial
covenants.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Borrowings carry an interest
rate of London Interbank Offering Rate (&amp;#x201C;LIBOR&amp;#x201D;) plus a
LIBOR margin. Prior to the opening of The Cosmopolitan on
December&amp;#xA0;15, 2010, the LIBOR margin was 0 basis points (0.0%).
All loan tranches drawn on or after the opening of the Property
attract a LIBOR margin of 85 basis points (0.85%).&amp;#xA0;Loan
tranches outstanding at December&amp;#xA0;15, 2010 do not attract the
85 basis points margin until they are renewed. LIBOR is determined
two days in advance of the funding based on publicly available
quotes published by Reuters. Interest is calculated on the basis of
actual days outstanding over a 360 day year.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Prior to the opening of the
Property on December&amp;#xA0;15, 2010, interest on the loan was added
to the principal loan balance. At the opening of the Property, the
outstanding balance of the credit facility from DBCI, including all
unpaid interest, was converted into a five year term loan. Any
undrawn amounts under the credit facility remain available to the
Company and are added to the principal balance as and when drawn.
Interest on the loan is payable in arrears and is due and payable
on the first business day of each quarter. Principal repayment of
the term loan and any future draw downs will be due on the fifth
year anniversary of the term loan.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Proceeds from these
facilities may be used to pay for (i)&amp;#xA0;the costs of
constructing and completing the Property, (ii)&amp;#xA0;Property
operating deficits and, (iii)&amp;#xA0;payment of interest on the Loan
to the extent that cash flow from the Property is insufficient to
pay same after paying the cost of operating the Property. All
outstanding debt will become due and payable upon a change of
control of the Company.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The total amount of the loan
payable to affiliate at March&amp;#xA0;31, 2012 and December&amp;#xA0;31,
2011 was $3.5 billion and $3.5 billion, respectively. Additionally,
at March&amp;#xA0;31, 2012 and December&amp;#xA0;31, 2011, the Company had
accrued interest payable to affiliate of $12.5 million and $11.1
million with a weighted-average interest rate of approximately
1.41% and 1.27%, respectively.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company classifies
construction related accounts payable, retention and accrued and
other liabilities as long term liabilities as they are financed by
the Company&amp;#x2019;s credit facility with DBCI and therefore, will
not require the use of working capital.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_15">7979000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:GainLossOnDispositionOfAssets contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_16">-156000</us-gaap:GainLossOnDispositionOfAssets>
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_24">-36049000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <us-gaap:IncreaseDecreaseInPrepaidExpense contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_13">-4983000</us-gaap:IncreaseDecreaseInPrepaidExpense>
  <us-gaap:GainLossOnSaleOfPropertyPlantEquipment contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_4">949000</us-gaap:GainLossOnSaleOfPropertyPlantEquipment>
  <us-gaap:InterestExpense contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_23">12510000</us-gaap:InterestExpense>
  <us-gaap:FoodAndBeverageCostOfSales contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_11">48436000</us-gaap:FoodAndBeverageCostOfSales>
  <us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_2">-12626000</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:PromotionalAllowances contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_6">25335000</us-gaap:PromotionalAllowances>
  <us-gaap:IncreaseDecreaseInRestrictedCashForOperatingActivities contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_12">-32162000</us-gaap:IncreaseDecreaseInRestrictedCashForOperatingActivities>
  <us-gaap:NetIncomeLoss contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_26">-23423000</us-gaap:NetIncomeLoss>
  <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_4E45724C-16CB-442C-8468-22A71B149C8E_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;4.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Accounts
Receivable&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Accounts receivable consist
of the following as of March&amp;#xA0;31, 2012 and December&amp;#xA0;31,
2011 (in thousands):&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"&gt;
&lt;tr&gt;
&lt;td width="76%"&gt;&lt;/td&gt;
&lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="1"&gt;&lt;b&gt;March&amp;#xA0;31,&lt;br /&gt;
2012&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="1"&gt;&lt;b&gt;December&amp;#xA0;31,&lt;br /&gt;
2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Casino&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;28,411&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;23,715&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Rooms&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;24,872&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;21,558&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Other&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;5,868&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;4,713&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1px"&gt;
&lt;td valign="bottom"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;59,151&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;49,986&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Less: allowance for
doubtful accounts&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;(4,462&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;)&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;(3,746&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;)&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1px"&gt;
&lt;td valign="bottom"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;54,689&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;46,240&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1px"&gt;
&lt;td valign="bottom"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Accounts receivable,
including casino and room receivables, are typically non-interest
bearing. The Company issues credit to approved casino customers
following investigations of creditworthiness. The allowance is
estimated based on specific review of customer accounts, as well as
management&amp;#x2019;s experience with collection tends in the gaming
and hospitality industry and current economic and business
conditions.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock>
  <us-gaap:CasinoRevenue contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_1">30838000</us-gaap:CasinoRevenue>
  <us-gaap:DepreciationDepletionAndAmortization contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_3">42073000</us-gaap:DepreciationDepletionAndAmortization>
  <us-gaap:OccupancyRevenue contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_2">58973000</us-gaap:OccupancyRevenue>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_17">11991000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:NatureOfOperations contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_F079F34D-C83B-4659-B8C6-D739A6569F5C_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;1.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Organization and
Description of the Business&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Nevada Property&amp;#xA0;1 LLC,
a limited liability company organized in Delaware
(the&amp;#xA0;&amp;#x201C;Company&amp;#x201D;), owns and operates The
Cosmopolitan of Las Vegas (the &amp;#x201C;Property&amp;#x201D; or &amp;#x201C;The
Cosmopolitan&amp;#x201D;) which commenced operations on
December&amp;#xA0;15, 2010. Prior to December&amp;#xA0;15, 2010, the
Property was in its construction and pre-opening
stage.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The entity that previously
owned the Property was Cosmo Senior Borrower LLC, a limited
liability company organized in Delaware (&amp;#x201C;CSB&amp;#x201D;), which
acquired the Property from its affiliate, 3700 Associates, LLC, a
Delaware limited liability company (the &amp;#x201C;Previous
Owner&amp;#x201D;), in December 2005. In April 2004, the Previous Owner
purchased approximately 8.7 acres of land in Las Vegas, Nevada, in
order to develop the Property and to eventually run the business at
The Cosmopolitan. A subsidiary of Deutsche Bank AG made a mortgage
loan to CSB on December&amp;#xA0;30, 2005 (the &amp;#x201C;Cosmopolitan
Mortgage Loan&amp;#x201D;), encumbering the Property. The Cosmopolitan
Mortgage Loan went into default on January&amp;#xA0;15, 2008 and
remedies were exercised against CSB.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The Company was formed on
July&amp;#xA0;30, 2008 for the purpose of holding the first lien
mortgage loan on the Property and ultimately foreclosing on the
Property. On August&amp;#xA0;29, 2008, the Company, which is an
indirect wholly-owned subsidiary of Deutsche Bank AG New York
Branch (&amp;#x201C;Deutsche Bank&amp;#x201D;),&amp;#xA0;acquired ownership of
the Cosmopolitan Mortgage&amp;#xA0;Loan. The Company then acquired the
Property at a foreclosure sale for $1.0 billion on
September&amp;#xA0;3, 2008, and&amp;#xA0;is the current owner of the
Property. In accordance with the terms of its operating agreement,
the Company shall continue in perpetuity until dissolved upon the
election of Nevada Mezz 1 LLC (&amp;#x201C;Nevada Mezz&amp;#x201D;) and
Nevada Voteco LLC (&amp;#x201C;Nevada Voteco&amp;#x201D; or
&amp;#x201C;Voteco&amp;#x201D;) or through a judicial dissolution under
Section&amp;#xA0;18-802 of the Delaware Limited Liability Company Act.
Nevada Voteco and Nevada Mezz are collectively referred to as the
&amp;#x201C;Members&amp;#x201D; within this Quarterly Report on Form
10-Q.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The Company&amp;#x2019;s
wholly-owned subsidiaries are Nevada Restaurant Venture 1 LLC
(&amp;#x201C;Nevada Restaurant&amp;#x201D;), which was formed on
November&amp;#xA0;24, 2009 as a limited liability company in Delaware
and Nevada Retail Venture 1 LLC (&amp;#x201C;Nevada Retail&amp;#x201D;),
which was also formed on November&amp;#xA0;24, 2009 as a limited
liability company in Delaware. Nevada Restaurant master leases the
Property&amp;#x2019;s restaurants and the nightclub from the Company and
has entered into management agreements with third party restaurant
operators and a nightclub operator to manage and operate their
respective establishments at the Property. Nevada Retail master
leases certain of the retail spaces at the Property from the
Company and operates certain of the retail spaces within the
Property. In addition, Nevada Retail has also entered into lease
agreements with third party retail operators to manage and operate
their respective retail businesses at the
Property.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The Company&amp;#x2019;s
operations are conducted entirely at the Property, which includes
hotel, casino, food and beverage, retail and other related
operations. Given the integrated nature of these operations, the
Company is considered to have one operating
segment.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:NatureOfOperations>
  <us-gaap:DepreciationAndAmortization contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_17">42072000</us-gaap:DepreciationAndAmortization>
  <us-gaap:OperatingIncomeLoss contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_19">-36323000</us-gaap:OperatingIncomeLoss>
  <us-gaap:InterestPaidNet contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_28">11122000</us-gaap:InterestPaidNet>
  <us-gaap:IncreaseDecreaseInAccountsPayable contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_9">-3599000</us-gaap:IncreaseDecreaseInAccountsPayable>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_9064C4C8-329E-414E-8944-F61C0D50E258_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;6.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Property and
Equipment&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Property and Equipment are
stated at the lower of cost or fair value and consist of the
following as of March&amp;#xA0;31, 2012 and December&amp;#xA0;31, 2011 (in
thousands):&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"&gt;
&lt;tr&gt;
&lt;td width="74%"&gt;&lt;/td&gt;
&lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td valign="bottom" width="5%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="1"&gt;&lt;b&gt;March&amp;#xA0;31,&lt;br /&gt;
2012&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="1"&gt;&lt;b&gt;December&amp;#xA0;31,&lt;br /&gt;
2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Land&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;110,454&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;110,454&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Buildings, building
improvements and land improvements&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;2,717,241&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;2,716,832&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Furniture, fixtures and
equipment&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;446,206&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;446,335&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Construction in
progress&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;6,384&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;4,565&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Less: accumulated
depreciation&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;(207,842&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;)&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;(166,938&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;)&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1px"&gt;
&lt;td valign="bottom"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;3,072,443&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;3,111,248&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1px"&gt;
&lt;td valign="bottom"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Interest of $0.0 million
and $0.7 million was capitalized during the three months ended
March&amp;#xA0;31, 2012, and the year ended December&amp;#xA0;31, 2011,
respectively.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:SellingGeneralAndAdministrativeExpense contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_13">40892000</us-gaap:SellingGeneralAndAdministrativeExpense>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_25">-12626000</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_24">-719000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:FoodAndBeverageRevenue contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_3">71783000</us-gaap:FoodAndBeverageRevenue>
  <us-gaap:IncreaseDecreaseInDueToAffiliates contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_11">1388000</us-gaap:IncreaseDecreaseInDueToAffiliates>
  <us-gaap:RepaymentsOfRelatedPartyDebt contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_22">15000000</us-gaap:RepaymentsOfRelatedPartyDebt>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_DD41234B-0EA6-4C98-931E-E8D4B1B05BAE_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;3.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Income
Taxes&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;For the three months ended
March&amp;#xA0;31, 2012 and 2011, the effective income tax rates were
(35.02%)&amp;#xA0;and 0%, respectively.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The Company&amp;#x2019;s major
tax jurisdiction is the United States. The Company is now part of a
Corporate Consolidated Tax Group (&amp;#x201C;Consolidated Group&amp;#x201D;)
owned by Deutsche Bank and is included in Consolidated
Group&amp;#x2019;s income tax return. The Consolidated Group&amp;#x2019;s
income tax return is under examination and the Company believes it
has no uncertain tax positions; however, there is no assurance that
taxing authorities will not propose adjustments that are more or
less than our expected outcome and impact the provision for income
taxes.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:IncreaseDecreaseInInventories contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_7">-180000</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_A80FDCDB-FA7E-47B7-9F83-4F9DCFFFFCE8_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"&gt;
&lt;tr&gt;
&lt;td width="4%" valign="top" align="left"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;10.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;Related Party
Transactions&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company is involved in
significant financing and other transactions with certain of its
affiliates and Deutsche Bank (refer to Note&amp;#xA0;9 for further
discussion).&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The following table sets
forth amounts held with, receivable from and payable to affiliates
and Deutsche Bank as of March&amp;#xA0;31, 2012 and December&amp;#xA0;31,
2011 (in thousands):&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font-size:12px;margin-top:0px;margin-bottom:0px"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE" align="center"&gt;
&lt;tr&gt;
&lt;td width="74%"&gt;&lt;/td&gt;
&lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td valign="bottom" width="7%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"&gt;&lt;font style="font-family:Times New Roman" size="1"&gt;&lt;b&gt;March&amp;#xA0;31,&lt;br /&gt;
2012&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"&gt;&lt;font style="font-family:Times New Roman" size="1"&gt;&lt;b&gt;December&amp;#xA0;31,&lt;br /&gt;
2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Cash held with Deutsche
Bank&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;42,388&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;19,578&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;
&lt;p style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Loan payable to
affiliate&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;3,534,073&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;3,530,857&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Interest payable to
affiliate&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;12,510&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;11,122&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" valign="bottom"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Deutsche Bank provided
certain administrative and other support services to the Company,
including accounting, development management, procurement and
logistics, and legal during the development phase of the Company.
The Company was charged $0.0 million and $0.2 million during the
three months ended March&amp;#xA0;31, 2012 and 2011, respectively, for
these services. On October&amp;#xA0;21, 2010, the Company entered into
an agreement with Nevada Voteco LLC (&amp;#x201C;Voteco&amp;#x201D;) to pay
for all expenses relating to Voteco and the Voteco members
including costs incurred for the services of all advisors and
consultants to the extent such costs are reasonable and documented.
The amount paid during the three months ended March&amp;#xA0;31, 2012
and 2011 by the Company on behalf of Voteco amounted to $0.4
million and $0.1 million, respectively.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_23">3216000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:InsuranceDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_4ED7C67C-B64E-4B07-AAF5-C4C71E4C8747_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;7.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Owner Controlled
Insurance Program&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The Company maintains a
comprehensive owner controlled insurance program that provides
insurance coverage for the construction phases of the Property. The
program provides the following coverage: workers&amp;#x2019;
compensation, primary general liability, excess liability,
contractors&amp;#x2019; pollution legal liability, builders&amp;#x2019; risk
and project professional liability. The general contractor and all
of the sub-contractors working on the Property are required to
enroll in the program.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The Company is exposed on a
first dollar loss basis in the event a claim is filed under either
the workers compensation or general liability portions of the
program. The Company retains the first $250,000 of the
builders&amp;#x2019; risk of loss, $500,000 of each of general
liability, employer&amp;#x2019;s liability, and workers&amp;#x2019;
compensation claims. Claims that exceed the maximum loss amount of
$500,000 per claim are covered by a traditional insurance program.
The loss payout account receives interest at a rate based on the
terms of the policy.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;We also maintain a reserve
for workers&amp;#x2019; compensation claims incurred but not reported
(&amp;#x201C;IBNR&amp;#x201D;). The IBNR reserve estimate is determined on
our actual historical expense experience and reporting patterns.
The total reserve as of March&amp;#xA0;31, 2012 and December&amp;#xA0;31,
2011 was $4.1 and $3.8&amp;#xA0;million, respectively, and is
classified as accrued and other liabilities &amp;#x2014; construction in
the accompanying Condensed Consolidated Balance
Sheet.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Once The Cosmopolitan is
completed and the insurance policies are closed out, the loss
payout account will remain open and continue to pay claims until
all claims are paid and closed or until the Company&amp;#x2019;s
obligations have been met. The general liability claims period
remains open for ten&amp;#xA0;years following the completion of The
Cosmopolitan in compliance with Nevada regulations. Workers&amp;#x2019;
compensation claims remain open until all claims are settled. Once
all claims are paid and all obligations are settled, any residual
funds in the loss payout account will be returned to the Company.
The Company believes the existing balance in the loss payout
account as of March&amp;#xA0;31, 2012 will be sufficient to pay all
existing and expected future claims related to the
Property.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;As of March&amp;#xA0;31, 2012,
the balance for our owner controlled insurance program was $22.8
million compared to $23.4 million as of December&amp;#xA0;31, 2011. For
the three months ended March&amp;#xA0;31, 2012 we paid claims of $0.4
million; $0.0 million and $0.4 million related to current year and
prior years claims respectively. The company also earned interest
of $0.0 million on the funds maintained in the loss payout
account.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;The net balance of deposits
in the loss payout account is classified as non-current other
assets in the accompanying Condensed Consolidated Balance
Sheets.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:InsuranceDisclosureTextBlock>
  <us-gaap:OccupancyCosts contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_10">13961000</us-gaap:OccupancyCosts>
  <us-gaap:CasinoExpenses contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_9">24638000</us-gaap:CasinoExpenses>
  <us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_68E31505-33F6-4651-99FC-D6888E72D4F9_1_8">435000</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
  <ck0001485589:CorporateExpenditure contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_14">3023000</ck0001485589:CorporateExpenditure>
  <ck0001485589:EntertainmentRetailAndOtherRevenue contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_4">6843000</ck0001485589:EntertainmentRetailAndOtherRevenue>
  <ck0001485589:EntertainmentRetailAndOtherCosts contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_22796_99A2A528-4BBF-4F00-92BA-3FF2616ACE61_1_12">6247000</ck0001485589:EntertainmentRetailAndOtherCosts>
  <ck0001485589:OtherCurrentAssetsDisclosureTextBlock contextRef="eol_PE825641--1210-Q0003_STD_91_20120331_0" id="id_22796_42FC937B-C9CC-4335-AAC3-11AFD37BE72B_1_0">&lt;div&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr&gt;
&lt;td valign="top" width="4%" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;5.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="top" align="left"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Other Current
Assets&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Other current assets
consist of the following (in thousands):&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"&gt;
&lt;tr&gt;
&lt;td width="76%"&gt;&lt;/td&gt;
&lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td valign="bottom" width="6%"&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="1"&gt;&lt;b&gt;March&amp;#xA0;31,&lt;br /&gt;
2012&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="1"&gt;&lt;b&gt;December&amp;#xA0;31,&lt;br /&gt;
2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Prepaid expenses&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;14,187&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;17,611&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Other assets&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;7,426&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;5,832&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1px"&gt;
&lt;td valign="bottom"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 1px solid"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr bgcolor="#CCEEFF"&gt;
&lt;td valign="top"&gt;
&lt;p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Total&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;21,613&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" align="right"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;23,443&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" nowrap="nowrap"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1px"&gt;
&lt;td valign="bottom"&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td valign="bottom"&gt;
&lt;p style="BORDER-TOP: #000000 3px double"&gt;&amp;#xA0;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;Prepaid expenses as of
March&amp;#xA0;31, 2012 and December&amp;#xA0;31, 2011 consist primarily of
expenses relating to insurance, property taxes, marketing, gaming
related taxes and maintenance contracts. Other assets as of
March&amp;#xA0;31, 2012 and December&amp;#xA0;31, 2011 consist primarily of
imprest funds relating to our partner restaurants, security
deposits and employee toke accounts.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
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&lt;table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"&gt;
&lt;tr&gt;
&lt;td width="4%" valign="top" align="left"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;8.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;b&gt;Restricted Cash and
Advance Condominium Deposits&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
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&lt;p style="margin-top:6px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;Restricted cash consists
primarily of non-refundable condominium sales deposits plus earned
interest that are held in interest bearing escrow accounts. The
balance of $2.4 million as of March&amp;#xA0;31, 2012 is composed of
$2.1 million in principal and $0.3 million in interest and the
balance of $34.5 million as of December&amp;#xA0;31, 2011 is composed
of $30.6 million in principal and $3.9 million in
interest.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin-top:12px;margin-bottom:0px; text-indent:4%"&gt;
&lt;font style="font-family:Times New Roman" size="2"&gt;&lt;font style="font-family:Times New Roman" size="2"&gt;The Company records deposits
received under condominium-hotel unit (&amp;#x201C;condominium&amp;#x201D;)
sale agreements as restricted cash and deferred revenue. Deposits
are refundable in the case of a proven default by the Company.
These amounts will be recognized as income upon closing of the sale
of the condominium, except in the case of a proven default by the
Company. Interest earned on these deposits is subject to refund in
the case of a proven default by the Company. Interest earned on
escrow deposits is deferred and will be recognized in other income
within the Condensed Consolidated Statement of Operations at
closing or any other termination of the sales contract, except in
the case of a proven default by the Company. Income resulting from
legal settlements reached with the condominium purchasers or
arising due to buyer default is recognized within other income
within the Condensed Consolidated Statement of Operations (refer to
Note&amp;#xA0;11 for further discussion).&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
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