Greetings, and welcome to the Ark Restaurants First Quarter 2016 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Bob Stewart, President and Chief Financial Officer. Thank you. You may begin.

Thank you, operator. Good morning, and thank you for joining us on our conference call for the first fiscal quarter ended January 2, 2016. With me on the call today is Michael Weinstein, our Chairman and CEO; and Vinny Pascal, our Chief Operating Officer. For those of you have not yet obtained a copy of our press release, it was issued over the newswire Friday and is available on our website. To review the full text of that press release along with the associated financial tables, please go to our home page at www.arkrestaurants.com. Before we begin, however, I'd like to read the safe harbor statement. I need to remind everyone that part of our discussion this afternoon will include forward-looking statements and that these statements are not guarantees of future performance and therefore, undue reliance should not be placed on them. We refer everyone to our filings with the Securities and Exchange Commission for a more detailed discussion of the risks that may have a direct bearing on our operating results, performance and financial condition. I will now turn the call over to Michael.

Hi, everybody. This quarter had a lot of moving parts. Let me start off by telling you the good news, which we think is substantial. And we certainly are well aware of the shortfall in EBITDA, which I will get into as well. First of all, our same-store sales were more than satisfactory, helped a little bit by the fact that New Year's Eve fell in our current quarter and last year it fell in the second fiscal quarter, so New Year's Eve was helpful. But in general, same-store sales, with the exception of Washington, D.C., were all up in every venue. The business in general feels good. We think demand is holding. We are under construction in several venues, most notably, Washington, D.C. Where Union Station has been blocking our entrance to one of our restaurants because of restoration of the ceiling. We are under construction in Fort Lauderdale at the Rustic Inn with a -- basically have detoured people going to the restaurant some 1.5 to 2 miles because one of the bridges is being restored. It has some floors in it that goes over the canal to directly access our restaurant. We were under construction in Las Vegas with New York, New York, blocking one of the main entrances to -- they're building a new park with a new entertainment center with 2,000 seats -- 20,000 seats, excuse me. That lifts in April. So we expect that in Las Vegas, we'll start doing better in April when this entrance is opened up and we should see more demand from the expansion of New York, New York. So given the fact that we are facing outside construction problems at those 3 venues, again, we think sales are more than satisfactory. In this quarter, we finished the purchase of…

[Operator Instructions] Ladies and gentlemen, we have no questions in queue at this time. I would now like to turn the floor back over to management.

All right. So let's talk about Meadowlands and what's going on there. As you know, we own an 11.6% interest in an LLC called New Meadowlands Racing, LLC. And that LLC, 3 years ago, made a deal with the state of New Jersey and part of the deal with the state to run the Meadowlands Racetrack. We built $100 million grandstand and moved the facility from the old grandstand to a better position in terms of traffic flow in the Meadowlands area. The Meadowlands is this complex that includes Giants Stadium and other stadiums and the racetrack is part of that. And perhaps it will include one of the largest malls in the world which they've tried to complete for the last 5 or 6 years, but has not been completed yet. The Meadowlands sits in an area where there's vast parking and no residential component to it. We thought when we purchased our interest that Meadowlands Racetrack would be a prime site if casino gaming was ever permitted in the Northern part of New Jersey. Little did we know when we purchased our interest that events in Atlantic City would change dramatically with 4 casinos closing, with revenues collapsing under the weight of competition from New York, Pennsylvania, Delaware and Maryland. And the state of New Jersey started to have serious conversations in the legislature to permit a referendum to allow casino gaming in Newark. Where this stands now is that we believe that sometime before August, the legislature will move and pass legislation to permit a referendum to go on the ballot in November to allow casino gaming in the Northern part of the state. That legislation will not name any sites but will, essentially, if the referendum passes, allow for some committee, not yet formed, to look…

[Operator Instructions] Ladies and gentlemen, we have no questions in queue at this time. I would now like to turn the floor back over to management.

All right. Well, thank you very much for calling in. We'll look forward to speaking to you on the next conference call.

Thank you, ladies and gentlemen. This does conclude our teleconference for today. You may now disconnect your lines at this time. Thank you for your participation and have a wonderful day.