8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) June 28, 2007

Capital Senior Living Corporation

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

1-13445	75-2678809
(Commission File Number)	(IRS Employer Identification No.)
14160 Dallas Parkway
Suite 300
Dallas, Texas	75254
(Address of Principal Executive Offices)	(Zip Code)

(972) 770-5600

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

     Attached hereto as Exhibit 99.1 is an updated slideshow presentation of Capital Senior Living Corporation (the “Company).

     By filing this Current Report on Form 8-K, the Company does not acknowledge that disclosure of this information is required by Regulation FD or that the information was material or non-public before the disclosure. The Company assumes no obligation to update or supplement forward-looking statements in this slideshow that become untrue because of new information, subsequent events or otherwise.

Item 9.01 Financial Statements and Exhibits.

     (a) Not applicable.

     (b) Not applicable.

     (c) Not applicable.

     (d) Exhibits.

     The following exhibit to this current report on Form 8-K is not being filed but is being furnished pursuant to Item 7.01:

     99.1 Capital Senior Living Corporation updated slideshow presentation

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 28, 2007	Capital Senior Living Corporation
	By:	/s/ David R. Brickman
		Name:	David R. Brickman
		Title:	Vice President, Secretary and General Counsel

EXHIBIT INDEX

     The following exhibit to this current report on Form 8-K is not being filed but is being furnished pursuant to Item 7.01:

     99.1 Capital Senior Living Corporation updated slideshow presentation

EX-99.1

Exhibit 99.1

CSU Investor Conference June 28, 2007

Forward-Looking Statements The forward-looking statements in this presentation are subject to certain risks and uncertainties that could cause results to differ materially, including, but not without limitation to, the Company's ability to complete the refinancing of certain of our wholly owned communities, realize the anticipated savings related to such financing, find suitable acquisition properties at favorable terms, financing, licensing, business conditions, risks of downturns in economic conditions generally, satisfaction of closing conditions such as those pertaining to licensures, availability of insurance at commercially reasonable rates and changes in accounting principles and interpretations among others, and other risks and factors identified from time to time in our reports filed with the Securities and Exchange Commission The Company assumes no obligation to update or supplement forward- looking statements in this presentation that become untrue because of new information, subsequent events or otherwise.

Investment Highlights Favorable demographics and attractive industry fundamentals Strong growth in same-store community net income Acquisition opportunities in highly fragmented industry National platform and existing infrastructure result in low marginal integration cost Predominately private pay with minimal federal regulation Financial leverage through joint venture partners and REITS Experienced management team with demonstrated ability to operate, acquire and develop

Summary of Portfolio Capital Senior Living owns and/or operates 64 communities in 23 states with the ability to serve 9,544 residents 49 of these communities are owned or leased with resident capacity of 7,636 Achieved 95% approval rating in 2006 residents' satisfaction survey Owned Leased Joint Venture Managed 0.42 0.37 0.147 0.062 Independent living Assisted living CCRC 0.703 0.2279 0.0686 Units by Ownership Type Resident Capacity Mix

Senior Living Industry Favorable Demographics 2000 2005 2010 2015 2020 2025 2030 Population Age 75+ 16.6 17.9 18.5 19.6 22.3 27 32.6 Population Age 85+ 4.2 4.9 5.8 6.4 6.7 7.4 8.9 Source: U.S. Census Bureau

Favorable Supply Trends Source: National Investment Center / American Seniors Housing Association Seniors Housing Construction Trends Report, 2006 & NIC Key Financial Indicators 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Total units 45583 50667 65879 35305 28964 21495 28696 32184 32138 32100 Total Units and Industry Occupancy Percentages CAGR of 1.3%

Source: National Investment Center for the Seniors Housing & Care Industry Note: Q1 2005 data not available Senior Living Industry Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Independent Living 0.1 0.099 0.104 0.103 0.1 0.091 0.094 0.091 0.082 0.082 0.085 0.082 0.083 0.077 0.077 Assisted Living 0.109 0.114 0.114 0.11 0.109 0.108 0.109 0.105 0.092 0.093 0.089 0.089 0.087 0.092 0.087 Senior Housing Capitalization Rates 2003 2004 2005 2006

The Capital Advantage: Senior Living Options Spacious apartments with a variety of floor plans Restaurant-style dining 24-hour staffing Social events, recreational activities, educational programs and outings Scheduled transportation Housekeeping and linen service On-site beauty salon and barber shop Individual climate control 24-hour emergency call system Library with on-line computers Fitness center/Exercise room Private dining room for special occasions Guest suite for visiting family and friends Independent Living Service and Amenities include:

The Capital Advantage: Senior Living Options Three delicious meals daily and snacks Medication reminders Assistance with activities of daily living such as bathing, dressing and grooming 24-hour on-site staff Emergency call systems Resident "well-being" checks Scheduled entertainment & activities Scheduled transportation Housekeeping & personal laundry Reminders / cueing for incontinence Respite Care Program that includes furnished apartment Assisted Living Service and Amenities include:

Resident Demographics at CSU Communities Average age of resident: 85 years Average age of resident moving in: 82 years Average stay period: 2-3 years Percent of female residents: 80% Resident turnover is primarily attributed to death or need for higher care

? Wholly Owned (25) ? JV Ownership/Managed (12) ? Leased (24) ? Management Only (3) ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? SW Region Duane Ness (14) Linda McAlister (11) Midwest Region David Beathard (33) (Interim) Donna Monroe (10) ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Dallas Region Carole Burnell (10) Tammy Pannell(12) ? ? ? ? ? The Capital Advantage: Established National Platform Texas Region Greg Boemer (15) Lynda Warren (27) (Parenthetical indicates years of experience in industry) Central Plains Region Kevin Wilbur (10) Marla Rhoads (15) Western Region Lesley Tejada (29) Gary Fernandez (10) Eastern Region Gary Vasquez (27) Tina Tedford (19) ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

The Capital Advantage: 168 Years of Management Experience James A. Stroud Chairman (22) Lawrence A. Cohen Vice-Chairman/CEO (22) Keith N. Johannessen President/COO (28) Rob L. Goodpaster VP Marketing (31) David W. Beathard VP Operations (33) Glen H. Campbell VP Development (32) (Parenthetical indicates years of experience in industry)

The Capital Advantage: Proven Track Record Stabilized Operating Results Capital Senior Living Industry Averages Industry Averages Capital Senior Living Independent Living Assisted Living Occupancy 1 90.6% 91.0% 88.0% Operating Margins 2,3 47.0% 46.2% 38.5% First Quarter 2007 CSU and NIC Key Financial Indicators Before property taxes, insurance and management fees First Quarter 2007 CSU and from The State of Seniors Housing 2006 by the American Seniors Housing Association (ASHA)

The Capital Advantage: Proven Track Record Communities Under Management Same Store Analysis Source: 2005 - 2006 CSU; The State of Seniors Housing 2006 by the American Seniors Housing Association (ASHA) Capital Senior Living Industry Averages Industry Averages Capital Senior Living Independent Living Assisted Living Revenues 7.3% 6.8% 6.9% Operating Expenses 2.9% 3.9% 5.8% NOI 15.2% 17.8% 8.4% Occupancy 0.9% 2.2% 2.6%

Industry Median Increases in Resident Revenue Year Independent Living Independent Living Assisted Living Assisted Living Year Existing Residents New Residents Existing Residents New Residents 2005 4 % 4.6% 5% 5% 2004 4% 4% 5% 5% 2003 4% 4% 5% 5% 2002 4% 5% 4% 5% 2001 4% 5% 5% 5% 2000 4.5% 5% 5% 5.5% 1999 4% 5% 4% 4.5% 1998 4% 4% 3.5% 5% 1997 4% 4% 4% 5% 1996 3.5% 4% 3.5% 5% 1995 3.5% 4% 4% 5% Source: ASHA The State of seniors Housing 2006

Organic Growth: Enhance Revenues Improve occupancy Rate Increases Community Fees Ancillary Services Respite Care / Guest Rooms Guest and Additional Resident Meals Catering Additional Housekeeping/Maintenance Services Leased Space - Home Health Agencies, Therapy Companies Additional Transportation Concierge Services - personal laundry, dry cleaning, meal trays, fax, copies, etc

Organic Growth: Expense Savings/Controls "The Capital System" - spend down sheets and staffing patterns tie to occupancy Group Purchasing Program as member of Premier GPO Premier - 43,500 members with volume over $27 billion 224 contracted diverse suppliers with over 1,300 contracts including: US Foods - CSL Raw Food Cost Per Meal savings of 14% Corporate Express - office supplies Grainger - maintenance and housekeeping supplies Federal Express - overnight shipping Hertz rental Car Shaw Carpet Service Contracts - Elevators, Fire Protection, Office Equipment, etc. Capital Equipment - Furniture, HVAC, Kitchen Equipment, Office Equipment, etc.

Organic Growth: Expense Savings/Controls Electricity Contracts in Deregulated State of Texas Six contracted through November 2009 at 40% savings over TXU price Eight contracted through May 2012 at 23% savings over TXU price

Organic Growth: Property/Liability Insurance Savings 1 Cost shown above includes primary GL/PL insurance and property insurance. Capital Senior Living Industry Averages Industry Averages Capital Senior Living Independent Living Assisted Living 2006/07 Cost of Property and Liability Insurance per Unit 1 $ 301 $ 638 $ 764 Source: ASHA The State of seniors Housing 2006

Reduction in Insurance Premiums 1 Policy Period 2003/04 2004/05 2005/06 2006/07 Resident Capacity 6,854 8,688 8,915 9,544 % Premium Reduction 9.3% 13.1% 2.6% ($s in millions) $1.8 million in insurance premium savings, despite 39% growth in resident capacity since 2003 1 Premiums include primary and excess liability coverage, property insurance, worker's compensation, auto insurance, D&O, E&O, EPL, crime and fiduciary insurance

Reduction in Insurance Premiums Savings achieved due to: Historically low loss trends Solid risk management program Long term relationships with insurance carriers Strong broker partnership Willingness to market coverage

Operating Leverage from Achieving 93% Occupancy in Consolidated Communities $7.0 Million $8.3 Million $166.8 Million Annualized revenue as of March 2007 Effect of a 5% increase in average rents Effect of achieving 93% average occupancy Incremental Revenue $15.3 million Incremental EBITDAR $11.5 million (at 75% margin)

Growth Strategies: Acquisition/Lease Transactions Year 1 Year 2 $ Increase % Increase Revenue $5,000,000 $5,300,000 $300,000 6.0% Operating Expense $3,000,000 $3,120,000 $120,000 4.0% EBITDAR $2,000,000 $2,180,000 $180,000 9.0% Lease Expense $1,560,000 $1,600,000 $40,000 2.5% EBITDA $440,000 $580,000 $140,000 35.0% Example of Lease Economics Completed 12 acquisition/leasebacks for a total value of $131 million in 2006

Growth Strategies: Joint Ventures Joint venture partners Blackstone Real Estate Advisors GE Healthcare Financial Services Prudential Real Estate Investors Acquired eight communities for a total value of $85 million with joint venture partner in 2006 Seeking additional acquisitions/developments of senior housing communities Co-invest with joint venture partners to participate in economics: 5% - 15% Capital Senior Living 95% - 85% JV Partners Earn management/development fees, return on equity investment and potential for additional incentives

Growth Strategies: Joint Ventures 75% Debt / 25% Equity 75% Debt / 25% Equity 70% Debt / 30% Equity 70% Debt / 30% Equity Cap Rate 8.0% 9.0% 8.0% 9.0% Interest Rate 6.00% 6.00% 6.00% 6.00% ROE 14.0% 18.0% 12.7% 16.0% ROE with 25-year amortization 8.5% 12.5% 8.4% 11.8% Benefits of Financial Leverage

Growth Strategies: Joint Ventures Venture CSU Partner NOI $ 8,000,000 Cap Rate 8% Purchase Price $100,000,000 Debt $ 75,000,000 Equity $ 25,000,000 $2,500,000 $22,500,000 Revenues $ 25,000,000 Mgt. Fees (5%) $1,250,000 ROE (14.0%) $ 350,000 $ 3,150,000 Total First Year Return $1,600,000 $ 3,150,000 Total Return % 64% 14% Example of Joint Venture economics

Growth Strategies: Example of Enhancing Shareholder Value $100 Million of Lease Acquisitions $100 Million of Joint Venture Acquisitions 93% Occupancy in Consolidated Communities Revenue $25.0 $1.3 $15.3 1 EBITDAR $10.0 $1.3 $11.5 2 Lease Expense $8.0 - - Implied CSU Equity Value Per Share (at 26.6M shares) 3 $2.07 $0.66 $5.84 Including effect of 5.0% increase in average rents Incremental Margin of 75% EBITDAR multiple of 13.5; Rent multiple of 10 (Incremental effects in Millions)

Growth Strategies: Additional levels of care Acquire or form a joint venture with home health care agency Expand or convert existing communities, where feasible Independent living units Assisted living units Alzheimer units

Capital Advantage: Financial Growth Revenue and Adjusted EBITDAR ($ in millions) Q4 05 Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Revenue 31.5 32.1 33.9 37.1 43 46.2 Adjusted EBITDAR 8.4 8.8 9.6 10.3 11.9 13.2 Adjusted EBITDAR Margin % 0.3 0.3 0.3 0.3 0.3 0.3 Q4 05 Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Revenue 35.03 36.557 37.722 41.821 42.97 46.2 Adjusted EBITDAR Margin % 0.24 0.241 0.25 0.247 0.277 0.286 Adjusted EBITDAR 8.4 8.8 9.6 10.3 11.9 13.2

Income Statement: Q1 Comparison • 2007 and 2006 excludes write-off of deferred loan costs; 2007 excludes gain on land sale and 2006 excludes gain on sale of treasury rate lock (in millions, except per share) 2007 2006 %Change Resident & Health Care Revenue $41.3 $31.4 31.5% Other Revenue 4.9 5.2 (5.8%) Total Revenues $46.2 $36.6 26.2% Operating Expenses 29.7 24.7 20.2% General & Administrative Expenses 3.4 3.1 9.7% EBITDAR $13.1 $8.8 48.9% Lease Costs 6.5 2.1 209.5% Depreciation & Amortization 2.8 3.3 (15.2%) Income from Operations $3.8 $3.4 11.8% Other Income / (Expense) (2.2) (4.9) (55.1%) Taxes & Minority Interests (0.6) 0.5 n/a Net Income $1.0 ($1.0) n/a Earnings Per Share $0.04 ($0.04) n/a Cash Earnings Per Share $0.14 $0.09 55.6%

Since Q1 2006, CSU has significantly strengthened its balance sheet Reduced total mortgage debt by $51.6 million Refinanced or retired $162 million of variable rate debt Reduced average interest rate from 7.5% to 6.1% fixed Resulting in $8.3 million of annual interest expense savings Balance Sheet Strength

Balance Sheet ASSETS ASSETS Cash and Securities $ 20.5 Other Current Assets 19.2 Total Current Assets 39.7 Fixed Assets 312.3 Other Assets 36.3 TOTAL ASSETS $388.3 As of March 31, 2007 (in millions) LIABILITIES & EQUITY LIABILITIES & EQUITY Current Liabilities $ 22.9 Long-Term Debt 194.5 Other Liabilities 25.5 Total Liabilities 242.9 Stockholders' Equity 145.4 TOTAL LIABILITIES & EQUITY TOTAL LIABILITIES & EQUITY $388.3