Nevada Companies March 2018 Quarter Earnings: An Excellent Illustration of What Happens When the US Government Picks Winners and Losers ....................................................................................... First For the Massive Winner ....................................................................................... Las Vegas Sands Posted March 2018 Quarter Pretax Income of $1.045 Bil, Up a Blistering 61% From the March 2017 Quarter's $648 Mil and, Granted a Double Dose of Trump Tax Cuts, Also Posted March 2018 Quarter After-Tax Net Income of an Even Substantially Higher $1.616 Bil, Up an Even More Blistering 179% From Its March 2017 Quarter's $579 Mil ..... and Nevada US Senator Dean Heller Sees Nothing Wrong With This? ....................................................................................... Now For the Big Losers: The Other 19 Nevada Companies With Market Caps of At Least $1 Bil ....................................................................................... These Other 19 Nevada Cos Generated March 2018 Quarter Total Pretax Income of a Meager $106 Mil, Down 68% From That in Their March 2017 Quarter .......................................................................................

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  Companies including both Partnerships and REITs which are Headquartered in the US State of Nevada with March 2018 Quarter Ends, with stock market caps above $1 Bil recently and which have released their March 2018 Quarter Earnings by June 8, 2018.

									US GAAP	US GAAP		US GAAP	US GAAP
	US GAAP	US GAAP	US GAAP		US GAAP	US GAAP	US GAAP		Effective	Effective		Pretax	Net
	Pretax	Income	Net		Pretax	Income	Net		Income	Income		Income	Income
Nevada Companies	Income	Tax	Income		Income	Tax	Income		Tax	Tax		% Change	% Change
Market Caps At Least $1 Bil	(Loss)	Expense	(Loss)		(Loss)	Expense	(Loss)		Rate	Rate		March Qtr	March Qtr
Releasing March 2018 Qtr	March Qtr	March Qtr	March Qtr		March Qtr	March Qtr	March Qtr		March Qtr	March Qtr		2018	2018
Earnings By June 8, 2018	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%
All Cos But Las Vegas Sands
MGM Resorts Intl	181	(85)	266		315	62	253		-47.0%	19.7%		-43%	5%
Southwest Gas Holdings	102	24	78		105	36	69		23.5%	34.3%		-3%	13%
Red Rock Resorts	93	11	82		56	11	45		11.8%	19.6%		66%	82%
Allegiant Travel	69	14	55		67	25	42		20.3%	37.3%		3%	31%
MGM Growth Properties LLC	59	1	58		48	1	47		1.7%	2.1%		23%	23%
Boyd Gaming	51	10	41		51	16	35		19.6%	31.4%		0%	17%
Employers Holdings	29	4	25		29	6	23		13.8%	20.7%		0%	9%
Eldorado Resorts	23	2	21		1	-	1		8.7%	0.0%		2200%	2000%
Pinnacle Entertainment	23	1	22		17	-	17		4.3%	0.0%		35%	29%
Switch	4	-	4		20	-	20		0.0%	0.0%		-80%	-80%
SendGrid	(1)	-	(1)		(2)	-	(2)		0.0%	0.0%		50%	50%
Tahoe Resources	(2)	5	(7)		86	11	75		-250.0%	12.8%		-102%	-109%
Intl Game Technology plc	(4)	61	(65)		(37)	(10)	(27)		-1525.0%	27.0%		89%	-141%
Cannae Holdings	(10)	(4)	(6)		(6)	(2)	(4)		40.0%	33.3%		-67%	-50%
Spectrum Pharmaceuticals	(16)	-	(16)		(24)	-	(24)		0.0%	0.0%		33%	33%
Caesars Entertainment	(21)	13	(34)		(461)	47	(508)		-61.9%	-10.2%		95%	93%
Amerco	(30)	(41)	11		14	4	10		136.7%	28.6%		-314%	10%
Scientific Games	(196)	6	(202)		(84)	17	(101)		-3.1%	-20.2%		-133%	-100%
Wynn Resorts Ltd	(248)	(111)	(137)		135	3	132		44.8%	2.2%		-284%	-204%
Total 19 But No Las Vegas Sands	106	(89)	195		330	227	103		-84.0%	68.8%		-68%	89%
Total all 20 Nevada Cos	1,151	(660)	1,811		978	296	682		-57.3%	30.3%		18%	166%