captivating as the rowdy participants think it is 
(ROOT (ADJP (ADJP (VBG captivating)) (SBAR (IN as) (S (NP (DT the) (JJ rowdy) (NNS participants)) (VP (VBP think) (SBAR (S (NP (PRP it)) (VP (VBZ is)))))))))
(ROOT (ADJP (ADJP (VBG )) (SBAR (IN ) (S (NP (DT ) (JJ ) (NNS )) (VP (VBP ) (SBAR (S (NP (PRP )) (VP (VBZ )))))))))