RubinBrown Gaming Stats 2019

COMMERCIAL GAMING NEVADA

$11.0B $9.0B $10.0B $8.0B $12.0B $14.0B $13.0B

25 OPS 75 OPS 50 OPS 125 OPS 100 OPS 150 OPS 175 OPS 200 OPS 250 OPS 275 OPS 225 OPS 300 OPS 325 OPS 375 OPS 350 OPS

350

343

342

340

339

339

336

335

334

329

327

NO. CASINO OPERATIONS

$0.0B $4.0B $3.0B $2.0B $1.0B $5.0B $6.0B $7.0B

GAMING REVENUES

$12.07B

$10.45B

$10.33B3

$10.79B

$10.86B

$11.14B

$10.98B

$11.11B

$11.26B6

$11.57B

$11.92B

2008

2009

2010

2016

2017

2018

2011

2012

2013

2014

2015

REVENUE FROM ELECTRONIC GAMING DEVICES 64.7% REVENUE FROM TABLE GAMES 32.4% REVENUE FROM SPORTS WAGERING 2.9%

15.0% OF ALL GAMING REVENUES 28.9% COMMERCIAL GAMING REVENUES

GAMING REVENUE $11.92B

GAMING REV $12.2

$36.44M AVERAGE REVENUE PER CASINO

327

CASINO OPERATIONS

3.0%

TOP 10 NEVADA MARKETS (revenue increased in all markets in 2018)

In 2018, the Nevada gaming market grew at a rate of 3.0%. Most notably, all of Nevada’s gaming markets posted year-over-year increases in gaming revenues, with the northern part of the State (including the Reno, Carson City and Lake Tahoe markets) leading the way. The strong revenue growth in the northern markets (collectively 4.6%) is attributed to the population and housing boom. The Reno-Carson City markets experienced a population increase of 3.7%, as job growth within technology, manufacturing and distribution industries continued to be strong. Las Vegas Construction is Gaining Momentum: In 2018, Genting Berhad finally began substantial construction on its Resorts World Las Vegas Casino, now scheduled to open in 2020 on the former site of the Stardust. Wynn Resorts continued to push forward with its new Convention Center facility behind its existing Encore and Wynn hotel towers. Las Vegas Sands, in a partnership with the Madison Square Garden Company, began construction on a revolutionary new entertainment arena known as the Sphere. Meanwhile, MGM completed the transformation of the old Monte Carlo resort into the new Park MGM. Corporate Transitions Take Center Stage: 2018 may become known as the year of change within Las Vegas gaming companies, starting with Golden Entertainment completing its acquisition of American Casino & Entertainment Properties in January. Eleven days later, the Wall Street Journal’s article broke open Steve Wynn’s history of alleged sexual misconduct leading to a complete transformation of Wynn Resorts’ Board of Directors and executive leadership team. Later in 2018, Las Vegas based Pinnacle Entertainment was acquired by Pennsylvania based Penn National Gaming, MGM began implementing its MGM 2020 plan which is aimed at reducing costs and increasing profitability in preparation for the next economic downturn, and Caesars’ became an acquisition target.

LAS VEGAS STRIP

ATLANTIC CIT

# 1 NATIONAL RANK

GAMING REVENUE $6,588.24M

2.0%

BOULDER STRIP

WASHINGTON

# 10 NATIONAL RANK

GAMING REVENUE $856.98M

5.4%

RENO / SPARKS

NEW YORK CI

# 13 NATIONAL RANK

GAMING REVENUE $772.18M

4.4%

LAS VEGAS DOWNTOWN

PHILADELPHIA

# 17 NATIONAL RANK

GAMING REVENUE $649.93M

3.0%

LAUGHLIN

BETHLEHEM /

# 25 NATIONAL RANK

GAMING REVENUE $508.73M

3.2%

NORTH LAS VEGAS

PITTSBURGH,

# 32 NATIONAL RANK

GAMING REVENUE $297.67M

3.4%

LAKE TAHOE

PROVIDENCE,

# 35 NATIONAL RANK

GAMING REVENUE $258.10M

4.2%

WENDOVER

CHARLESTON,

# 41 NATIONAL RANK

GAMING REVENUE $201.07M

6.5%

MESQUITE

ALBANY / SA

# 48 NATIONAL RANK

GAMING REVENUE $130.32M

4.6%

CARSON VALLEY

HARRISBURG,

# 51 NATIONAL RANK

GAMING REVENUE $110.78M

6.1%

Commercial Gaming

7