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Evan Vucci, Associated Press
Republican presidential candidate, former House Speaker Newt Gingrich speaks during a campaign stop at the International Church of Las Vegas on Friday, Feb. 3, 2012 in Las Vegas, Nev.

LAS VEGAS — Republican presidential candidate Newt Gingrich has little hope for an upset in Nevada's caucuses and instead is looking to best rival Ron Paul for second place.

Trounced in Florida on Tuesday, Gingrich had just a few days to regroup in Nevada, a state that front-runner Mitt Romney won when he sought the GOP nomination in 2008.

Gingrich is skipping the traditional candidate victory party Saturday night and planning to issue a statement on the outcome.

The former House speaker has a sparse campaign operation in Nevada and took part in just five public events before caucus-goers were set to begin. His campaign ran no television ads.

In an interview Friday with Fox News, Gingrich said he hopes to defeat Paul's strong Nevada organization to claim second place.