International Thoroughbred Breeders Inc.

International Thoroughbred Breeders, Inc., through its subsidiary, ITG Vegas, Inc., engages in an entertainment cruise and casino ship business under a bareboat charter of the vessel M/V Palm Beach Princess (the Palm Beach Princess). The Palm Beach Princess performs 14 cruises weekly, including a daytime and an evening cruise each day from the Port of Palm Beach, Florida. It offers various amenities and services, including a full casino, sit down buffet dining, live musical shows, discotheque, bars and lounges, swimming pool, and sundecks. The casino occupies 15,000 square feet aboard the ship and is equipped with approximately 425 slot machines; table games, including blackjack, dice, roulette, and poker; and a sports wagering book. The company was founded in 1980 and is headquartered in Wilmington, Delaware.