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Analyst Releases Odds for Pennsylvania License

24 March 2006

LIMERICK, Pennsylvania – As reported by the Mercury News: "LIMERICK -- 10-1.

"Those are the odds an area research analyst is giving Boyd Gaming Corp. of receiving a gaming license from the Pennsylvania Gaming Control Board for its slots parlor proposal in Limerick.

"Brian McGill is a gaming analyst for Susquehanna Financial Group, an institutional research, brokerage and trading firm based in Bala Cynwyd. Earlier this month, McGill released a 13-page report discussing the chances for each of the 14 applicants vying for the five available standalone casino licenses across the state.

"With six bids for two at-large licenses, McGill's analysis puts Boyd's Limerick proposal on the outside looking in.

"The odds-on favorite is the Las Vegas Sands proposal (3-2) in Allentown, beating out Aztar Corp.'s Allentown Tropicana proposal (7-1). The favorite in the Scrantonarea is Mount Airy Lodge (3-1), beating out Pocono Manor (7-1). To contrast, Cross Roads Resort's bid in historic Gettysburg has been met with heavy resistance by several groups, thus receiving 99-1 odds.

"…The first region Susquehanna Financial Group foresees getting a license is the Allentown/Bethlehem area, which has struggled to generate economic growth, though 600,000 people live in the immediate area…"

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