Gaming Property Investment Overview

Forward Looking Statements Certain statements contained in this presentation may constitute "forward-looking statements" within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward- looking statements include information concerning the Company's business strategy, plans, goals and objectives. Forward-looking statements contained in this presentation include, but are not limited to, information and statements regarding the impact of the novel coronavirus (COVID-19) pandemic on the Company's tenants' operating results, information concerning the contemplated acquisitions of Tropicana Evansville, Dover Downs Hotel & Casino, Jumers Casino & Hotel Rock Island, the Mardi Gras and Golden properties in Blackhawk, the planned disposition and sale/leaseback of Tropicana Las Vegas and the transactions related thereto (collectively, the "Transactions"), the impact of the Transactions on the Company's business and results of operations, and the potential impact of environmental and community stewardship on shareholder value. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates,” “plans,” “may increase," "may fluctuate" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts. You should understand that the following important factors could affect future results and could cause actual results to differ materially from those expressed in such forward-looking statements: (1) the availability of, and the ability to identify, suitable and attractive acquisition and development opportunities and the ability to acquire and lease the respective properties on favorable terms; (2) the degree and nature of the Company's competition; (3) the Company's reliance on Penn National Gaming, Inc. as its largest tenant; (4) the ability to receive and maintain the regulatory approvals required to own and/or operate the Company's properties, including the approvals necessary to complete the Transactions; (5) the effects of the Transactions on the Company; (6) the Company's ability to maintain its status as a real estate investment trust ("REIT"), given the highly technical and complex Internal Revenue Code provisions for which only limited judicial and administrative authorities exist, where even a technical or inadvertent violation could jeopardize REIT qualification and where requirements may depend in part on the actions of third parties over which the Company has no control or only limited influence; and (7) additional factors discussed in the sections entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's Quarterly Reports on Forms 10-Q, which you should read in conjunction with this presentation. Other unknown or unpredictable factors may also cause actual results to differ materially from those projected by the forward-looking statements. Most of these factors are difficult to anticipate and are generally beyond the Company's control. Given these uncertainties, you should not place undue reliance on these forward-looking statements. You should consider the areas of risk described above in connection with considering any forward- looking statements that may be made by the Company generally and any forward-looking statements that are contained in this presentation specifically. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless required to do so by law. 1

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