Investor Presentaiton

• Fiscal Second Quarter 2016 Financial Performance Mohegan Sun: • • • • EBITDA +13%, revenues +6.6% y/y Highest F2Q revenues since 2012 Highest F2Q EBITDA since 2009 180bp increase in margin; highest F2Q margin since 2001 Pocono: . EBITDA +4%, revenues +5% Corporate EBITDA +54%: . . Resorts EBITDA +$830K y/y, +245% Cowlitz development fees $1.3m Overall MTGA: Mohegan Sun Net Revenues Adjusted EBITDA Qtr Ended 3/31/2016 Qtr Ended 3/31/2015 y/y chg $ 256,186 $ 240,285 6.6% 77,837 68,686 13.3% 30.4% 28.6% 1.8% EBITDA Margin Pocono Downs Net Revenues 73,686 70,128 5.1% Adjusted EBITDA 13,696 13,166 4.0% EBITDA Margin 18.6% 18.8% -0.2% Corporate Net Revenues Adjusted EBITDA EBITDA Margin $ 1,917 $ 10 19070.0% (3,274) NM (7,158) 54.3% NM NM • • . EBITDA ~18% y/y • Revenues 7% y/y . EBITDA Margins +250bp y/y Total MTGA Net Revenues Adjusted EBITDA EBITDA Margin $ 331,789 88,259 26.6% $ 310,423 74,694 6.9% 18.2% 24.1% 2.5% Mohegan Sun 8

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