Vici Investor Presentation
VICI'S EVOLUTION SINCE FORMATION
Demonstrated Track Record of Growth and Tenant Diversification - By Adj. EBITDA ($MM)(¹)
VICI is a world-leading gaming and experiential REIT with significant scale,
tenant diversity and access to capital
Acquired Harrah's Las
Vegas
Significantly reduced
leverage on the balance
sheet
✓ Began
institutionalization of
gaming real estate
sector
Harrahs
LAS VEGAS
2017
$690(2)
Completed 4th largest
REIT IPO
Expanded tenant
roster with PENN
Entertainment with
acquisitions of
Margaritaville &
Greektown
Modified Caesars
leases to align Tenant
/ Landlord interests
Harrahs
PHILADELPHIA
PENN
ENTERTAINMENT
2018
$722
Continued tenant
diversification with
Hard Rock, JACK,
and Century Casinos
Strengthened
partnership with
existing tenants,
supporting
Eldorado's
acquisition of
Caesars
EELDORADO
Hard Rock
CENTURY
CASINOS
CAESARS
ENTERTAINMENT.
J·A·C·K•
ENTERTAINMENT
2019
$847
Initial non-gaming
investment in
Chelsea Piers New
York and investment
in the Caesars Forum
Convention Center
100% cash rent
collection through
COVID-19 to date
CHELSEA PIERS
NEW YORK
EST. NY 1995
CAESARS
FRUM
2020
$1,119
Announced acquisition
of the Venetian Resort
and the strategic
acquisition of MGP
Began financing
partnership with Great
Wolf Resorts
pun
THE VENETIAN RESORT
MGM GROWTH
PROPERTIES
GREAT
WOLF
LODGE
2021
$1,307
Achieved investment
grade ratings and S&P
500 inclusion
Announced
investments with Great
Wolf, Cabot, and
Canyon Ranch and
acquisition of Rocky
Gap Casino
S&P 500®
CABOT CANYONRANCH.
ROCKY GAP.
CASINO RESORT GOLF
LQA
Q3'22
$2,554 (3)
(1) See "Reconciliation from GAAP to Non-GAAP Measures" and "Definitions of Non-GAAP Financial Measures" on pages 24-27 for additional information. (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) Represents annualized Q3'22 Adj. EBITDA of $638.6MM.
VICI
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