Despite a robust statewide performance, the Louisiana market remains challenging for Harrah's (Entertainment).

Louisiana's performance in the wake of the hurricanes is impressive. Statewide results are receiving a strong boost from construction crews and other personnel in the region for the post-hurricane reconstruction. We think displaced gamblers from the Mississippi Gulf Coast are also driving growth.

It's a day of entertainment and performance.

It can expand its brands in China, Europe, India, and South American, and it immediately increases its presence in Europe, where there is more upside/recovery to (revenue per available room) than in the United States.

This would be challenging and complicated.

(It) poses a potential risk as the company has had little experience designing and executing on a project of this size.