The fact they located the first one where they did was not exactly a bright move. It is likely the Las Vegas one will do much better given the format they have chosen to follow.
A site like Peoria needs $5mil per year in revenue to break even on a cash flow basis and have a small GAAP net loss.
Modern Round is late with their 10k, it was due at the end of March and they filed for an extension. That report will tell us whether or not Oct/Nov/Dec came in at the $1.5 - $1.8mil in revenue that it darn well better have. My guess is it did not and Mod Round is scrambling to find money to fund the next 3 sites. Big struggle it appears to me.
I wrote a long post explaining my thoughts, but hit the Cancel button instead of Submit. So I'll just go with fish's post. Lots of his stuff does the job for me...