The 6 Largest US Hotels and Casino Corps March 2018 Quarter Total Pretax Earnings Increase By Only 1% From the March 2017 Quarter ........................................................................................ These Companies March 2018 Quarter Total After-Tax Net Income Increased By a Much Higher 58%, Aided By Las Vegas Sands' Huge Income Tax Benefit From the Trump Tax Cuts Act Related to the December 2017 Quarter But Reflected in March 2018 Earnings

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March 2018 and 2017 Quarters for all US Hotels and Casino Corps with stock market caps above $10 Bil on April 30, 2018 and which have released their March 2018 earnings by May 10, 2018.

									US GAAP	US GAAP	US GAAP	US GAAP
		US GAAP				US GAAP			Effective	Effective	Pretax	Net
	US GAAP	Income	US GAAP		US GAAP	Income	US GAAP		Income	Income	Income	Income
	Pretax	Tax	Net		Pretax	Tax	Net		Tax	Tax	% Change	% Change
	Income	Expense	Income		Income	Expense	Income		Rate	Rate	March Qtr	March Qtr
US Hotels and Casinos	March Qtr	March Qtr	March Qtr		March Qtr	March Qtr	March Qtr		March Qtr	March Qtr	2018	2018
Market Caps Above $10 Bil	2018	2018	2018		2017	2017	2017		2018	2017	vs 2017	vs 2017
	mils $	mils $	mils $		mils $	mils $	mils $
Las Vegas Sands	1,045	(571)	1,616		648	69	579		-54.6%	10.6%	61%	179%
Marriott Intl	502	104	398		494	123	371		20.7%	24.9%	2%	7%
Hilton Worldwide	221	58	163		66	18	48		26.2%	27.3%	235%	240%
MGM Resorts Intl	181	(85)	266		315	62	253		-47.0%	19.7%	-43%	5%
Wyndham Worldwide	121	40	81		153	26	127		33.1%	17.0%	-21%	-36%
Wynn Resorts Ltd	(248)	(111)	(137)		135	3	132		44.8%	2.2%	-284%	-204%
Total all 6	1,822	(565)	2,387		1,811	301	1,510		-31.0%	16.6%	1%	58%