Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Justin Sebastiano with Morgan Joseph. Please proceed.
Justin Sebastiano - Morgan Joseph
Thanks, hi, guys. Do you expect a quarter-over-quarter gain of your Four Winds management revenue in the fourth quarter?
Lyle Berman
The answer is yes. We do expect that.
Justin Sebastiano - Morgan Joseph
Okay, and what type of impact do you think the blue chip expansion that's supposed to open I guess in the first quarter, what type of impact do you think that will have on the Four Winds EBITDA?
Lyle Berman
Well, actually, we think it’s very good, we wish they would open sooner because it would increase our EBITDA. The fact is they're not increasing their gaming capacity, what they are -- is adding a hotel, and remember this is all drive in business. So people who drive in typically like to go see the big dog in the neighborhood and that's us. So we think it incrementally will bring business to us, and shouldn't take anything away from us because they really haven't changed the casino at all.
Justin Sebastiano - Morgan Joseph
Okay, and then -- I'm sorry if I missed this, but how much did you spend on the Ohio lobbying effort in the fourth quarter, I guess October and the first couple of days in November?
Tim Cope
Yeah, I can talk you through that a little bit. We've funded -- as of the end of the quarter, we funded approximately $18 million and of which about $10.5 million of that was expensed in that quarter, in the third quarter. We have about an additional $10 million to fund, which gets us up to approximately the $29 million I mentioned, or Lyle mentioned.
Justin Sebastiano - Morgan Joseph
Okay, so about $10 million in 4Q we should be looking at?
Tim Cope
Yes.
Justin Sebastiano - Morgan Joseph
Okay. And I apologize, if you could kind of walk me through this a little bit. Here the ARS, you've got the $26.8 million is the par and then the fair value has declined $2.5 million from that number, is that correct?
Tim Cope
That's right.
Justin Sebastiano - Morgan Joseph
Do you have about 24.3 of market value, and how much is, do you have pulled down from the UBS credit line?
Tim Cope
A little over $18 million
Lyle Berman
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