Investor Presentaiton

. South Korea Development On February 27, 2016, MTGA and its Korean partner KCC were awarded the sole Integrated Resort license in South Korea • The project has the potential to be transformational for MTGA: . Up to $5B invested over 20 years on 800+ acres next to one of the world's busiest airports $1.6B investment for Phase 1 Integrated Resort, which will include: casino, 1,350 rooms over 3 towers, a 15,000 seat arena, over 200,000 sq ft of retail & F&B, convention, theme park, and many other amenities, including a first-of-its-kind private air terminal Expected to open in 2019/2020 SITE 1BC Block YEONGJONG ISLAND SONGDO CITY IBC-II Block Existing Casino SEOUL • Joint venture w/ KCC Corp: MTGA will invest $100M (already raised) for 50%+ of the project's equity, earn a development fee during construction (~$45M) and a 24-year management fee (3% of all revenues, ~$30M per year) = fee income alone ~$750M Note: Definitive Management and Development Agreement have not yet been signed, but expectation is to sign directly with MTGA or another Restricted Subsidiary... Mohegan Sun 18

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