Rational Investing

	Total Market Capitalization of All Firms	$63,827 mm
	Average Market Capitalization	$6,383 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	0.8
	Standard Deviation of MM Ratio	0.3
	Average Beta	1.8
	Average EV To Revenue	2.1
	Average EV To EBITDAM	17.4
	Average Price To Free Cash Flow	11.0

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
CZR	Caesars Entertainment Corp	1.26	4,225	3.5	19.1	30	8	1.7	Dec 19
G13.SI	Genting Singapore PLC	1.02	5,483	2.2	8.2	8.3	5	1.3	Dec 19
LVS	Las Vegas Sands Corp.	1.00	29,305	2.8	13.7	14.0	8	1.5	Dec 19
MLCO	Melco Resorts & Entertainment	0.86	5,432	1.5	14.7	15.3	15	1.6	Dec 19
MGM	MGM Resorts International	0.76	5,684	1.6	4.5	19.3	11	2.0	Dec 19
MTN	Vail Resorts Inc.	0.67	5,296	2.6	28.0	9.8	16	1.0	Jan 20
BYD	Boyd Gaming Corp.	0.63	1,250	1.3	2.7	12.9	14	2.3	Dec 19
WYNN	Wynn Resorts Ltd	0.61	5,222	2.4	-20.6	30	6	2.1	Dec 19
ERI	Eldorado Resorts Inc	0.44	787	2.4	5.4	30	1	2.3	Dec 19
PENN	Penn National Gaming Inc.	0.41	1,144	0.6	2.3	4.8	18	2.0	Dec 19