Question-and-Answer Session
Operator
(Operator Instructions) We’ll take our first question from David Miller with Caris & Company.
David Miller - Caris & Company
Good morning. A few questions -- first of all, I think you guys -- Linda, correct me if I’m wrong, you’ve taken charges either restructuring or impairment in nature for the last four quarters, I think six of the last eight or something like that. Other than the $1 million a year that you cited in your prepared remarks with regard to the real estate revaluation in New York, I mean, are we clean on all the charges in the next two quarters or should we expect other things to be cleaned up?
Linda G. Havard
I would expect with a new CEO that you haven’t seen everything yet and that we should possibly expect to see more, although I couldn’t tell you anything specific at this point.
David Miller - Caris & Company
Okay, and then have you guys on the Las Vegas properties, have you guys seen any sort of improvement in traffic flows there? You know, we’re hearing everything is still pretty weak. It’s pretty much of a depression over there in Vegas but have you adjusted your pricing at all with regard to the Playboy Club at the Palms or is the pattern largely the same as we saw last quarter?
Alex L. Vaickus
Actually, our trend over the last six months has declined but it’s not been to the level that a lot of the other venues have experienced. Some of that can be attributed to the strength of the brand overall and some of it can be attributed to some marketing initiatives that we’ve undertaken with George over the last year or so.
I think the potential for the future remains strong and I think that we are going to continue to hold out and do better than a lot of other places in Vegas.
David Miller - Caris & Company
Okay and then I think you saw a couple of media reports out there, particularly in the New York Post, stating that the sister property next to Hugh Hefner’s residence is set to go out at roughly $18 million. Are you guys willing to confirm that on this call?
Linda G. Havard
I think it’s public information -- whatever that is, it’s probably public information at this point, David and --
David Miller - Caris & Company
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