Investor Presentaiton

Strategic Rationale and Transaction Benefits ELDORADO RESORTS isle. capri Increased scale and geographic diversification Creation of a $3bn+ premier regional gaming company Meaningfully increases footprint to 20¹ regional gaming facilities in 10 states Combination doubles Eldorado's net revenue and EBITDA Combined company to operate more than 20,800 slot machines & VLTS, approx. 560 table games and over 6,500 hotel rooms Earnings growth and operational efficiencies Identified $35mm in annual run-rate cost synergies in year 1 Potential for further revenue and profitability upside Share best practices across companies to drive operational enhancements Accretive to earnings and free cash flow Transaction expected to be immediately accretive to earnings and free cash flow Strong free cash flow generation to further strengthen balance sheet 1 Pro forma for announced sale for Lake Charles 2 Net debt/ EBITDA Expected net leverage2 of 5.1x at closing Utilize combined company's free cash flow to reduce leverage and make additional strategic investments over the near to medium term Combined entity will seek ratings upgrade Isle currently rated B1 (Positive Outlook) / B+ (Positive Outlook) and Eldorado rated B2 (Stable Outlook) / B (Stable Outlook) 4

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