Gaming Property Investment Overview

Tropicana Evansville: Regional Gaming Hub with Limited Competition Competition-Resilient Asset Re-Acquired in GLPI's Portfolio Tropicana Evansville 6888 CANA EVANSVILLE BEST HOTEL Real Estate Acquisition 46,265 Casino SF Purchase Proceeds $340M 1,145 Slots $28M Initial Rent 41 Table Games 338 Hotel Rooms Cap Rate 47k SF Meeting Area Sportsbook / VIP Purchase Multiple 8.2% 12.1x High-Quality, Historic Former Riverboat Casino First casino in IN to move from boat to land in 2017 ~20 acres along the Ohio river in Vanderburgh County, IN Evansville is the 3rd largest city in the state of Indiana Gaming in Evansville draws customers from local southern IN, southeastern IL, southwestern KY and central TN Limited competition Tropicana Evansville is the only full-scale casino within 60 miles and >60% of revenue is generated from customers within a 50-mile radius Inherent Locational Advantages Conducive Regulatory Environment: Indiana provides stable state gaming tax environment with no increases since the establishment of dockside gaming in 2002, and allows casinos to operate 24 hours per day with complementary alcoholic beverages as part of a limited promotion Proximity to Social Infrastructure: The City of Evansville recently built an 11,000-seat arena for Evansville University and minor league hockey teams located just six blocks from Tropicana Evansville Note: This transaction is subject to regulatory approvals and closing conditions Source: Company Filings, Earnings Releases and Indiana Gaming Commission 14

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