Epstein Secrets

ica (OPI 44 3.7x 3/31/17 Seminole Hard Rock' Trump Taj Mahal 65x 6.6x 3/13/17 Casino Queen Lady

ort Collection Centaur Gaming 1.100 1,700 12.6x 12.1x 10t23/17 Golden Entertainment American Casino 850 8.3x 7.0x 9/11/17 MGM Growth Prop MGM National Harbor 1.188 12.5x 8/31/17 Steve Wilkoff Fontainebleau Las Vegas 600 NM 5/23/17 Memel° Group SLS Las Vegas ND ND 5/1/17 Eldorado Resorts Isle

itizens, which comprise a large portion of regional gaming revenue. A Closer Look to Tax Reform. We believe that the implementation of President's Trump tax reform will be a positive catalyst for gaming industry GGR in 2018, as it will benefit casino patrons and thus the operators. For your convenie

properties from new supply is -$403 million (-48% of the $852 million generated by Kansas Crossing, Jake's 58, Rivers Casino, del Lago Resort, and MGM National Harbor). 'Exhibit 2: GGR Bridge LTM 2016 to LTM 2017 (S $29.50D =9,300 124 100 UMW WOO WOD C0.300 124100 122,900 121.700 127.50D VIP* •011V•Ii

ital allocation update, tax reform, rising interest rates. Latest report: MCO rally has just begun; beneficiaries of the non-Health Care upside from Trump 1Q risks: Risks to the downside are courts not approving the HUM acquisition, lower- than-expected membership growth and higher than expected cost t

gits in 4Q). Despite recent softness, Macau peers still trade at premiums to core MGM Latest report: MGM Resorts International: Notes from the road: MGM National Harbor - the new standard for regionals 1Q risks: Macau sentiment has been fading recently as the RMB continues to depreciate and investors seek new growth