interest rates should result in a normalized same-store GGR growth rate of —2.75%. Including the impact from new supply (Resorts World Catskills, Tiverton, Hard Rock Atlantic City and MGM Springfield), we estimate 2018 GGR growth at 3.5%. We note that tax reform will provide the consumer with higher d

(South Bend, IN), Resorts World Catskills (Catskills, NY), Point Place Casino (Bridgeport, NY), MGM Springfield (Springfield, MA), Tiverton Casino (Tiverton; RI), Wynn Boston Harbor (Everett, MA), and Live! Hotel & Casino (Philadelphia, PA). We believe that Foxwoods and Mohegan Sun will be the operators