Question-and-Answer Session
Operator
Okay. (Operator’s instructions) And the first question comes from the line of Joe Greff with JPM, please proceed.
Joseph Greff - JP Morgan Chase & Co.
Good morning everyone. Maybe Keith, this is a question for you. Perhaps you can tell us – this is a question on Borgata, let’s presume Pennsylvania gets table games, Philadelphia casinos have tables, aqueduct opens. What is the strategy for Borgata, specifically? I know that might be a question that’s broader for the market there, how the market attacks that. But how do you prepare for what looks to be inevitable competition?
Keith E. Smith
I think that the Borgata certainly is the market leader there. And we continue to like our position. I think as the surrounding states get gaming, whether it is table games in Pennsylvania or sports betting and table games in Delaware or something happening in New York, we need to continue to execute on our business model, to continue to have the best product in the market. And offer something that I don’t think you can get in some of those markets. A lot of which you’re talking about in Philadelphia and other markets are more convenience gaming. They don’t have the type of assets and amenities that we have at the Borgata. And we’ll just have to continue to market to those assets and emphasize those amenities and what we have for the customers.
Having said that, it clearly is incremental competition and in a weak consumer environment and a weak economy that we have today it will be competition. There’s no question.
Joseph Greff - JP Morgan Chase & Co.
Thank you.
Operator
And the next question comes from the line of Larry Klatzkin with Chapter Lane, please proceed.
Larry Klatzkin – Chapter Lane
Couple of questions here. One, you see any further Echelon costs. I mean, you took some charges here. Is it kind of, that’s done or you probably have some lingering things every quarter going forward?
Paul J. Chakmak
Larry, as we said on previous calls, the really the only costs we should have now are kind of normal recurring costs of about $15 million, probably, for this year. And then they will go down in the following years. And we have very limited amount of CAP Ex going forward with respect to Echelon. I think we continue to spread it out where we can. We’ll probably have about $20 million in 2010. But that’s about it.
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