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Wiki Wiki Summary
Indian Gaming Regulatory Act The Indian Gaming Regulatory Act (Pub.L. 100–497, 25 U.S.C. § 2701 et seq.) is a 1988 United States federal law that establishes the jurisdictional framework that governs Indian gaming. There was no federal gaming structure before this act.
Impact of Native American gaming The impact of Native American gaming depend on the tribe and its location. In the 1970s, various tribes took unprecedented action to initiate gaming enterprises.
Video game industry The video game industry is the industry involved in the development, marketing, and monetization of video games. It encompasses dozens of job disciplines and its component parts employ thousands of people worldwide.The video game industry has grown from focused markets to mainstream in the recent years.
Video game A video game or computer game is an electronic game that involves interaction with a user interface or input device – such as a joystick, controller, keyboard, or motion sensing device – to generate visual feedback. This feedback mostly commonly is shown on a video display device, such as a TV set, monitor, touchscreen, or virtual reality headset.
Emergency operations center An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Operations research Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences.
Surgery Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Competitor analysis Competitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.
Financial crisis of 2007–2008 The financial crisis of 2008, or Global Financial Crisis, was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929).
Statistical significance In statistical hypothesis testing, a result has statistical significance when it is very unlikely to have occurred given the null hypothesis. More precisely, a study's defined significance level, denoted by \n \n \n \n α\n \n \n {\displaystyle \alpha }\n , is the probability of the study rejecting the null hypothesis, given that the null hypothesis is true; and the p-value of a result, \n \n \n \n p\n \n \n {\displaystyle p}\n , is the probability of obtaining a result at least as extreme, given that the null hypothesis is true.
The Simpsons The Simpsons is an American animated sitcom created by Matt Groening for the Fox Broadcasting Company. The series is a satirical depiction of American life, epitomized by the Simpson family, which consists of Homer, Marge, Bart, Lisa, and Maggie.
Internet In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party.
Adverse effect An adverse effect is an undesired harmful effect resulting from a medication or other intervention, such as surgery. An adverse effect may be termed a "side effect", when judged to be secondary to a main or therapeutic effect.
Dexlansoprazole Dexlansoprazole, sold under the trade name Dexilant among others, is a medication which reduces stomach acid. It is used to treat gastroesophageal reflux disease.
International joint venture An international joint venture (IJV) occurs when two businesses based in two or more countries form a partnership. A company that wants to explore international trade without taking on the full responsibilities of cross-border business transactions has the option of forming a joint venture with a foreign partner.
National Geographic Partners National Geographic Partners, LLC is a joint venture between The Walt Disney Company (which owns 73% of shares) and the namesake non-profit scientific organization National Geographic Society (which owns 27%). The company oversees all commercial activities related to the Society, including magazine publications and television channels.
Hemlock Semiconductor Corporation Hemlock Semiconductor Corporation is the largest producer of polysilicon in the United States. It is owned by Corning Inc.
New York Codes, Rules and Regulations The New York Codes, Rules and Regulations (NYCRR) contains New York state rules and regulations. The NYCRR is officially compiled by the New York State Department of State's Division of Administrative Rules.
Jurisdictional strike In United States labor law, a jurisdictional strike is a concerted refusal to work undertaken by a union to assert its members' right to particular job assignments and to protest the assignment of disputed work to members of another union or to unorganized workers. (Labor unions use the term jurisdiction to refer to their claims to represent workers who perform a certain type of work and the right of their members to perform such work.) The Taft-Hartley amendments to the National Labor Relations Act empowered the National Labor Relations Board to resolve such jurisdictional disputes and authorized the General Counsel of the NLRB to seek an injunction barring such strikes.Jurisdictional strikes occur most frequently in the United States in the construction industry.
Regulatory capture In politics, regulatory capture (also agency capture and client politics) is a form of corruption of authority that occurs when a political entity, policymaker, or regulator is co-opted to serve the commercial, ideological, or political interests of a minor constituency, such as a particular geographic area, industry, profession, or ideological group.When regulatory capture occurs, a special interest is prioritized over the general interests of the public, leading to a net loss for society. The theory of client politics is related to that of rent-seeking and political failure; client politics "occurs when most or all of the benefits of a program go to some single, reasonably small interest (e.g., industry, profession, or locality) but most or all of the costs will be borne by a large number of people (for example, all taxpayers)".
United States Treasury security United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as an alternative to taxation. Since 2012, U.S. government debt has been managed by the Bureau of the Fiscal Service, succeeding the Bureau of the Public Debt.
Private equity Private equity (PE) typically refers to investment funds, generally organized as limited partnerships, that buy and restructure companies. More formally, private equity is a type of equity and one of the asset classes consisting of equity securities and debt in operating companies that are not publicly traded on a stock exchange.A private-equity investment will generally be made by a private-equity firm, a venture capital firm or an angel investor.
Hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing to institutional investors, high net worth individuals, and others who are considered sufficiently sophisticated.
Psychopathy Psychopathy, sometimes considered synonymous with sociopathy, is characterized by persistent antisocial behavior, impaired empathy and remorse, and bold, disinhibited, and egotistical traits. Different conceptions of psychopathy have been used throughout history that are only partly overlapping and may sometimes be contradictory.Hervey M. Cleckley, an American psychiatrist, influenced the initial diagnostic criteria for antisocial personality reaction/disturbance in the Diagnostic and Statistical Manual of Mental Disorders (DSM), as did American psychologist George E. Partridge.
Psychopathy Checklist The Psychopathy Checklist or Hare Psychopathy Checklist-Revised, now the Psychopathy Checklist—revised (PCL-R), is a psychological assessment tool most commonly used to assess the presence of psychopathy in individuals—most often those institutionalized in the criminal justice system—and to differentiate them from those with antisocial personality disorder, a similar but distinct illness. It is a 20-item inventory of perceived personality traits and recorded behaviors, intended to be completed on the basis of a semi-structured interview along with a review of 'collateral information' such as official records.The PCL was originally developed in the 1970s by Canadian psychologist Robert D. Hare for use in psychology experiments, based partly on Hare's work with male offenders and forensic inmates in Vancouver, and partly on an influential clinical profile by American psychiatrist Hervey M. Cleckley first published in 1941.
Dirichlet conditions In mathematics, the Dirichlet conditions are sufficient conditions for a real-valued, periodic function f to be equal to the sum of its Fourier series at each point where f is continuous. Moreover, the behavior of the Fourier series at points of discontinuity is determined as well (it is the midpoint of the values of the discontinuity).
Nervous Conditions Nervous Conditions is a novel by Zimbabwean author Tsitsi Dangarembga, first published in the United Kingdom in 1988. It was the first book published by a black woman from Zimbabwe in English.
Conditions races Conditions races are horse races in which the weights carried by the runners are laid down by the conditions attached to the race. Weights are allocated according to the sex of the runners, with female runners carrying less weight than males; the age of the runners, with younger horses receiving weight from older runners to allow for relative maturity, referred to as weight for age; and the quality of the runners, with horses that have won certain values of races giving weight to less successful entrants.
Operating cash flow In financial accounting, operating cash flow (OCF), cash flow provided by operations, cash flow from operating activities (CFO) or free cash flow from operations (FCFO), refers to the amount of cash a company generates from the revenues it brings in, excluding costs associated with long-term investment on capital items or investment in securities. Operating activities include any spending or sources of cash that’s involved in a company’s day-to-day business activities.
Cash Flow (song) "Cash Flow" is the debut single from rapper Ace Hood's debut album Gutta. It is a hip hop song that features T-Pain, Rick Ross and DJ Khaled with a quick intro.
Unsecured debt In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment. Unsecured debts are sometimes called signature debt or personal loans.
Asset and liability management Asset and liability management (often abbreviated ALM) is the practice of managing financial risks that arise due to mismatches between the assets and liabilities as part of an investment strategy in financial accounting.\nALM sits between risk management and strategic planning.
Collateralized debt obligation A collateralized debt obligation (CDO) is a type of structured asset-backed security (ABS). Originally developed as instruments for the corporate debt markets, after 2002 CDOs became vehicles for refinancing mortgage-backed securities (MBS).
United States debt ceiling The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may pay on the debt they already borrowed. The debt ceiling is an aggregate figure that applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts.
Purchase order A purchase order (PO) is a commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services. It is used to control the purchasing of products and services from external suppliers.
Venture capital Venture capital (VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth (in terms of number of employees, annual revenue, scale of operations, etc). Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake.
Risk Factors
NEVADA GOLD & CASINOS INC Item 1A Risk Factors The following is a description of what we consider our key challenges and risks: We face significant competition from other gaming operations that could have a material adverse effect on our future operations
There is intense competition among companies in the gaming industry, many of which have significantly greater resources than we do
We, and the Native American operations which we are involved in, compete with numerous casinos of varying quality and size in market areas where our properties are located
The gaming business is characterized by competitors that vary considerably by their size, quality of facilities, number of operations, brand identities, marketing and growth strategies, financial strength and capabilities, level of amenities, management talent and geographic diversity
In most markets, we compete directly with other casino facilities in the immediate and surrounding market areas
If our competitors operate more successfully, if competitors &apos properties are enhanced or expanded, or if additional casinos are established in and around locations in which we conduct business, we may lose market share
The expansion of casino gaming in or near any geographic area from which we attract or expect to attract a significant number of our customers could have a significant adverse effect on our business, financial condition and results of operations
We are subject to extensive governmental gaming regulation that could adversely affect us
We could be prevented from completing our current casino development projects or pursuing future development projects due to changes in the laws, regulations and ordinances (including tribal or local laws) that apply to gaming facilities or the inability of us or our key personnel, significant shareholders or joint venture partners to obtain or retain gaming regulatory licenses
The gaming industry is highly regulated and we must maintain our licenses in order to continue our operations
Each of our gaming operations is subject to extensive regulation under the laws, rules and regulations of the jurisdiction where located
These laws, rules and regulations generally concern the responsibility, financial stability and character of the owners, managers, and persons with financial interests in the gaming operations
Certain jurisdictions empower their regulators to investigate participation by licensees in gaming outside their jurisdiction and require access to and periodic reports concerning the gaming activities
Violations of laws in one jurisdiction could result in disciplinary action in other jurisdictions
Regulatory authorities have broad powers with respect to the licensing of casino operations and may revoke, suspend, condition or limit our gaming or other licenses, impose substantial fines and take other actions, any one of which could have a significant adverse effect on our business, financial condition and results of operations
The rapidly changing political and regulatory environment governing the gaming industry (including gaming operations which are conducted on Indian land) makes it impossible for us to accurately predict the effects that an adoption of or changes in the gaming laws, regulations and ordinances will have on us
However, the failure of us, or any of our key personnel, significant shareholders or joint venture partners, to obtain or retain required gaming regulatory licenses could prevent us from expanding into new markets, prohibit us from generating revenues in certain jurisdictions, and subject us to sanctions and fines
Our business is subject to various federal, state and local laws and regulations in addition to gaming regulations
These laws and regulations include, but are not limited to, restrictions and conditions concerning alcoholic beverages, environmental matters, employees, currency transactions, taxation, zoning and building codes, and marketing and advertising
Such laws and regulations could change or could be interpreted differently in the future, or new laws and regulations could be enacted
Material changes, new laws or regulations, or material differences in interpretations by courts or governmental authorities could adversely affect our results of operations and financial condition
11 _________________________________________________________________ [54]Back to Table of Contents We cannot ensure that we will be able to comply with or conduct business in accordance with applicable regulations
Indebtedness could adversely affect our financial health
IC-BHapstas Senior Secured Credit Facility provides for a dlra50 million revolving credit facility maturing the earlier of October 24, 2010 or such date the term loan facility is repaid in full and a dlra190 million term loan maturing on October 24, 2011 (see Note 4 to our Financial Statements)
The degree to which IC-BH is leveraged could have important consequences including, but not limited to, the following: (a) its increased vulnerability to adverse general economic and industry conditions; (b) the dedication of a substantial portion of its operating cash flow to the payment of principal and interest of indebtedness, thereby reducing the funds available for operations and further development of IC-BH; and (c) its impaired ability to obtain additional financing for future working capital, capital expenditures, acquisitions or other general corporate purposes
To date, cash flow from the operations of IC-BH’s Colorado casinos has been sufficient to pay its maturing debt obligations
On January 19, 2006, we entered into a dlra55 million revolving credit facility which allows us to borrow up to dlra55 million at any time prior to June 30, 2008, which is the maturity date for the credit facility
At July 10, 2006, we fully drew down on this credit facility
In addition, we have operating lease guarantees of approximately dlra581cmam000 for the River Rock CasiNodtta We also have guaranteed debt of approximately dlra91cmam000 for an affiliated company that may mature during the next two fiscal years
We have agreed, under certain circumstances if financing would not otherwise be available, to provide a guarantee of up to dlra25 million of third party financing for the La Jolla casino project
In addition, our wholly-owned subsidiary, Nevada Gold NY, Inc has an indirect guarantee of dlra8 million of American Racing’s dlra20 million senior debt
As of April 30, 2006, we had approximately dlra60dtta5 million of indebtedness outstanding, which includes dlra52 million of debt on the Credit Facility
Our substantial indebtedness could have important consequences and significant effects on our business and future operations
For example, it could: · increase our vulnerability to general adverse economic and industry conditions or a downturn in our business; · limit our ability to fund future working capital, capital expenditures and other general operating requirements; · place us at a competitive disadvantage compared to our competitors that have less debt or greater resources; and · limit our ability to borrow additional funds
The occurrence of any one of these events or conditions could have a material adverse effect on our business, financial condition, results of operations, prospects, ability to service or otherwise satisfy our obligations under the Credit Facility or our other debt obligations
We will require a significant amount of cash to service our indebtedness and fund our gaming operations
Our ability to generate cash depends on many factors beyond our control
Our ability to make payments on and refinance our debt, including the Credit Facility, and to fund our gaming operations, will depend on our ability to generate cash flow from our gaming operations
Our ability to generate sufficient cash flow to satisfy our debt obligations will depend on our future operating performance that is subject to many economic, competitive, regulatory and business factors that are beyond our control
If we are not able to generate sufficient cash flow to service our debt obligations, we may need to refinance or restructure our debt, sell assets, reduce or delay capital investments or seek to raise additional capital
These measures may not be available to us or, if available, they may not be sufficient to enable us to satisfy our obligations under the Credit Facility and may restrict our ability to pay operating expenses
If our cash flow is insufficient and we are unable to implement one or more of these alternatives, we may not be able to service our debt obligations or fund our gaming operations
We could incur substantial liabilities if pending material litigation is resolved unfavorably
We are currently a defendant in litigation instituted by Rinaldo Corporation, which if concluded adversely to our interests, could adversely affect our operating results
We strongly dispute the allegations of the Rinaldo Corporation and believe we have strong defenses
We will vigorously defend the lawsuit
We cannot quantify the potential impact that an unfavorable outcome of the damages claim could have on our financial condition, results of operation or liquidity, however, based on Rinaldo Corporationapstas assertions and claim for damages, it could be material