Rational Investing

	Total Market Capitalization of All Firms	$164,397 mm
	Average Market Capitalization	$11,743 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.5
	Standard Deviation of MM Ratio	0.8
	Average Beta	1.8
	Average EV To Revenue	5.6
	Average EV To EBITDAM	25.2
	Average Price To Free Cash Flow	30.8

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
PENN	Penn National Gaming Inc.	3.37	7,495	4.8	64	30	-52	2.6	Jun 20
ERI	Eldorado Resorts Inc	3.11	4,096	5.7	17.3	12.0	-47	2.6	Jun 20
MCRI	Monarch Casino & Resort Inc	2.46	797	8.9	44.3	30	-55	1.6	Jun 20
BYD	Boyd Gaming Corp.	2.01	3,138	3.8	28.2	12.9	-52	2.2	Jun 20
MTN	Vail Resorts Inc.	1.45	8,682	5.3	63.1	22.0	-15	1.2	Apr 20
MLCO	Melco Resorts & Entertainment	1.38	8,183	5.4	16.6	30	-58	1.8	Jun 20
CZR	Caesars Entertainment Corp	1.34	34,133	6.9	50.7	40.3	-12	2.6	Mar 20
MGM	MGM Resorts International	1.27	11,383	4.2	21.2	30	-58	2.2	Jun 20
G13.SI	Genting Singapore PLC	1.00	5,888	2.5	2	9.4	-3	0.8	Jun 20
LVS	Las Vegas Sands Corp.	0.94	35,479	6.5	13.5	30	-47	1.5	Jun 20
2282.HK	MGM China Holdings Ltd	0.92	4,604	2.5	9.4	30	-43	1.6	Jun 20
0027.HK	Galaxy Entertainment Group Lim	0.91	29,305	1.2	16.6	16.4	-51	1.3	Jun 20
WYNN	Wynn Resorts Ltd	0.87	7,651	20.4	71.1	30	-86	2.2	Jun 20
035250.KS	KANGWON LAND INC ORD	0.83	3,562	0.1	13.4	30	-52	0.8	Jun 20