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We had a great first year of fully operating the complex with the compliance operation in 2016 following our acquisition of Circus Circus Reno and the 50% interest in Silvery Legacy which we did not already own in November 2015. Full year EBITDA for the Reno Tri-Properties was up 24.5% on a 4% of revenue increase, as we benefit from the synergy of a combined operation as well as our ability to grow key revenue volume indicator such as RevPAR, which by itself with up 11% in 2016. Looking at the $62 million in EBITDA in 2016 generated by the Reno Properties, this is still less than 60% of the peak EBITDA for these three properties, which is 70,000. If you consider all the very positive economic indicators for Reno, including unemployment at a current 5% rate where it hasn't been for a long time or the fact that Reno was the eights fastest growing, but primarily through the job growth in 2016. You can see why we're so bullish on overall outlook for the Reno market. Also last week, United Airlines announced that they would begin daily service again between Chicago and Reno which is great for the convention business to the Reno market. With all this positive momentum, we believe now is the optimal time to undertake our property enhancement capital plan to further position our Reno Tri-Properties complex, as the market leader for gaming, entertainment, food and beverage, and other amenities that will attract interest from business and visitors to Reno. This work will be phased over three years approximately and is already underway. We're in the process of upgrading almost 600 rooms at our Circus Circus, north tower and 153 rooms in one of our towers at the Eldorado. Ultimately we'll touch 4100 rooms across the Tri-Property complex. We recently completed the renovation of the Midway at Circus Circus.

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Garcetti, a 46-year-old Democrat, was "deeply honored" to serve a second term, he said on Twitter early on Wednesday. Garcetti will serve 5 1/2 years instead of the usual four due to a change in the city's election calendar, officials said. During his campaign, the mayor highlighted his support for a measure to raise the city's minimum wage, and employment gains in the aftermath of a nationwide recession. He also enjoyed a significant funding advantage over his rivals, reporting raising more than $3.8 million as of March 1. Schwartz, the only other candidate to have raised substantial funds, is expected to have spent $790,000, a spokesman said. Schwartz, 55, made the city's rising crime rate and soaring housing costs focal points of his campaign, also warning of a looming pension fund crisis. Garcetti, who defeated then-city Controller Wendy Greuel in a run-off four years ago, is the son of former prosecutor Gil Garcetti, whose office tried O.J. Simpson for murder and lost. Drawing almost as much attention in Tuesday's municipal elections was ballot Measure S, aimed at limiting urban development by halting "spot zoning" amendments to the city's General Plan for two years. Supporters of the plan, which was defeated with 69 percent of voters against, said spot zoning permits granted to wealthy real estate interests had spurred runaway construction, increasing congestion and driving up housing costs.

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