Investor Presentaiton

Eldorado Resorts LTM 2Q FY 2016 EBITDA Reconciliation Consolidated Adjusted EBITDA¹ EBITDA Reconciliation for the Twelve Months Ended June 30, 2016 (In $000's) ELDORADO RESORTS isle. capri Operating Income Depreciation & Amortization Stock-Based Compensation Transaction Expenses Severance Expense Other² Adjusted EBITDA $93,927 $63,701 $2,700 $3,306 $1,645 $1,740 $167,019 1 Results of operations for the twelve months ended June 30, 2016 include the operations of Silver Legacy and Circus Reno, which were acquired by ERI on November 24, 2015, as if the acquisition occurred on July 1, 2015. Such presentation does not conform with GAAP or the Securities and Exchange Commission rules for pro forma presentation; however, we have included the combined information because we believe it provides a meaningful comparison for the periods presented 2 Other is comprised of (gain) loss on the sale or disposal of property, equity in income of unconsolidated affiliate and other regulatory gaming assessments. 21 21

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