Invest in The Experience
VICI'S EVOLUTION SINCE FORMATION
Demonstrated Track Record of Growth and Tenant Diversification - By Adj. EBITDA ($MM) (1)
VICI is a world-leading experiential REIT with 54 gaming properties, 38 family
entertainment centers, 12 tenants, and significant scale and access to capital
Acquired Harrah's
Las Vegas
Significantly
reduced leverage
on the balance
sheet
Began
institutionalization of
gaming real estate
sector
Harrahs
LAS VEGAS
2017
$690(2)
Completed 4th largest
REIT IPO
Expanded tenant
roster with PENN
Entertainment with
acquisitions of
Margaritaville &
Greektown
Modified Caesars
leases to align Tenant
/ Landlord interests.
Harrahs
PHILADELPHIA
PENN
ENTERTAINMENT
2018
$722
Continued tenant
diversification
with Hard Rock,
JACK, and
Century Casinos
Strengthened
relationship with
existing tenants
in Eldorado's
acquisition of
Caesars
EELDORADO
Hard Rock
CAESARS
ENTERTAINMENT.
CASINOS
CENTURY J.A.C.K.
ENTERTAINMENT
2019
$847
Initial non-gaming
investment in
Chelsea Piers New
York and
investment in the
Caesars Forum
Convention Center
100% cash rent
collection through
COVID-19
CHELSEA PIERS
NEW YORK
EST. NY 1905
CAESARS
FORUM
2020
$1,119
Announced $4Bn
acquisition of
Venetian Resort
and $17.2Bn
acquisition of MGM
Growth Properties
("MGP")
Began financing
relationship with
Great Wolf Resorts
A
THE VENETIAN RESORT
MGM GROWTH
PROPERTIES™
GREAT
WOLF
LODGE
2021
$1,307
Achieved investment
grade ratings and
S&P 500 inclusion
Announced
investments with
Great Wolf, Cabot,
Canyon Ranch, and
Fontainebleau Las
Vegas as well as
acquisition of Rocky
Gap and the
Foundation Portfolio MGM GRANDE
FONTAINEBLEAU
LAS VEGAS
FOUNDATION
GAMING & ENTERTAINMENT
ROCKY GAP.
CASINO RESORT - GOLF
THE
VENET
RESORT HOTE
GRAND CANAL
3355
CANYONRANCH.
D
CABOT
S&P 500®
2022
First family
entertainment
acquisition of 38
Bowlero properties
International gaming
investments in
Canada
$2,215
Acquired the
remaining 49.9%
stake in MGM Grand
/ Mandalay Bay
PURE
CASINO
MANDALAY BAY
RESORT AND CASINO, LAS VEGAS
LQA
Q3'23
$2,906 (3)
BOWLERO
CORPORATION
ARRASAM
(1) See "Reconciliation from GAAP to Non-GAAP Measures" and "Definitions of Non-GAAP Financial Measures" on pages 24-27 for additional information. (2) Represents (i) $545MM pro forma Adj. EBITDA for the nine
months ended September 30, 2017, and (ii) $145MM Adj. EBITDA for the period from October 6, 2017 to December 31, 2017. (3) Represents annualized Q3'23 Adj. EBITDA of $726MM.
VICI
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