This excerpt taken from the MNTG 8-K filed May 26, 2006.
Consolidated EBITDA means, with respect to any Person, for any period, the Consolidated Net Income of such Person for such period adjusted to add thereto (to the
extent deducted from net revenues in determining Consolidated Net Income), without duplication, the sum of:
(a) consolidated income tax expense;
(b) consolidated depreciation and amortization expense;
(c) consolidated Fixed Charges;
(d) all other non-cash charges that were deducted in determining Consolidated Net Income for such period, (i) including, but not limited to, charges attributable to the grant, exercise or repurchase of options for or shares of Qualified Capital Stock to or from employees of such Person and its Consolidated Subsidiaries, but (ii) excluding non-cash charges that require an accrual of or a reserve for cash charges for any future periods and normally occurring accruals such as reserves for accounts receivable, and less non-cash items that were added back in determining Consolidated Net Income for such period, other than the accrual of revenue in the ordinary course of business; provided, that consolidated income tax expense and depreciation and amortization of a Subsidiary that is a less than Wholly Owned Subsidiary shall only be added to the extent of the equity interest of such Person in such Subsidiary; and
(e) pre-opening expenses, calculated and classified as such in accordance with GAAP, incurred in connection with the opening of new facilities including, but not limited to, the Presque Isle Downs Project.