August 2016 was a declining month compared to August 2015 for U.S. slot revenue. The calendar lost a Saturday and Sunday, the main factor in the decline. For most regional properties, the net effect of the calendar change equated to a range of decline of 3 percent to 4 percent relative to last year. The drivers for the casino industry: employment, income and gas prices are in a favorable position although we see gas prices gaining. Note that with inflation tracking at +2 percent to +3 percent there is little “real” wage/income growth. We are retaining our 2016 forecast range for growth between 1 percent and 3 percent. Prior to July 2016, YTD had maintained a 2 percent growth rate. As of August, that lead drops to 1.4 percent.