Vici Investor Presentation
PROVEN TRACK RECORD OF SUCCESS
EVOLUTION OF VICI SINCE FORMATION - BY ADJ. EBITDA ($MM) (¹)
De-levered balance
sheet, proved ability
to grow, introduced
cap rates into gaming
real estate
Pre-IPO Equity Private
Placement
UM
Harrahs
LAS VEGAS
2017
(2)
$6902
VICI
IPO, de-levered
balance sheet,
modified lease
incentives to align
with Caesars and
expanded tenant
roster
IPO, Master Lease
Modification, Octavius
Tower, Harrah's
Philadelphia,
Margaritaville Bossier City
& Greektown Acquisitions
IPO
Harrahs
PHILADELPHIA
PENN
ENTERTAINMENT
2018
$722
Proved ability to
work with largest
tenant while
diversifying tenant
base
Partnership with
Eldorado / Caesars
E
ELDORADO
RESORTS
CAESARS
ENTERTAINMENT.
Hard Rock
J.A.C.K.
CENTURY
CASINOS ENTERTAINMENT
2019
$847
1st gaming REIT to
expand into a new
asset class
Invested in Caesars
Forum Convention
Center and Chelsea Piers
Mortgage Loans
CHELSEA PIERS
NEW YORK CITY
CAESARS
FORUM
2020
$1,119
Significant acquisitions,
significantly increasing
scale
Acquired the Venetian
Resort and MGM Growth
Properties and invested in
Great Wolf Mezzanine Loans
THE VENETIAN RESORT
MGM GROWTH
PROPERTIES
GREAT
WOLF
LODCE
2021
$1,307
VICI is a world-leading
gaming and
experiential REIT with
increased scale,
tenant diversity and
access to capital
Inaugural investment grade
bond offering, S&P 500
inclusion and invested in
Cabot and BigShots Golf
S&P 500Ⓡ
BIGSHOTS
GOLF
CABOT
LQA Q2'22
Further Adj.
EBITDA
$2,569 (3)
(1) See "Reconciliation from GAAP to Non-GAAP Measures" in the appendix for additional information, including the definition and reconciliation to the most comparable GAAP financial measures. (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) LQA Q2'22 Further Adjusted EBITDA represents annualized Q2'22
Adjusted EBITDA, adjusted to reflect the impact of the acquisition of MGP as if it had closed on April 1, 2022 instead of the closing date of April 29, 2022.
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