EXHIBIT 22
SPORTS ARENAS, INC. AND SUBSIDIARIES
SUBSIDIARIES OF REGISTRANT
State of
Incorporation Subsidiary
------------- ---------------------------------------------------
New York Cabrillo Lanes, Inc.
Delaware Downtown Properties, Inc.
California Old Vail Partners, a California general partnership
(50% general partner)
California Downtown Properties Development Corp.
California UCVGP, Inc.
California UCV, L.P. (1% general partner)
California Sports Arenas Properties, Inc.
California UCV, L.P. (49% limited partner) (formerly known as
University City Village, a joint venture)
California Ocean West, Inc.
California RCSA Holdings, Inc.
California Old Vail Partners, a California general partnership
(50% general partner)
California Old Vail Partners, L.P. (49% limited partner)
California Vail Ranch Limited Partnership (50% limited partner)
California OVGP, Inc.
California Old Vail Partners, L.P. (1% general partner)
California Ocean Disbursements, Inc.
California Bowling Properties, Inc.
California Penley Sports, LLC (90% managing member)
All subsidiaries are 100% owned, unless otherwise indicated, and are included in
the Registrant's consolidated financial statements, except for Vail Ranch
Limited Partnership and UCV, L.P.
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