Vici Properties Inc. · NYSE:VICI
Vici Properties — Merger or Acquisition (November 2018)
8 slides from Vici Properties's merger presentation, Nov 14, 2018
Slide 1: Greektown Casino-Hotel Transaction Overview
Exhibit 99.2 GREEKTOWN CASINO-HOTEL TRANSACTION OVERVIEW NOVEMBER 14, 2018
Slide 2: Disclaimers
hetcs\Discussion Materials\2017-09 VICI Refi RFP\07. RAP\VICI RAP v126.pptx DISCLAIMERS Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by the use of the words “assumes,” “believes,”
Slide 3: Greektown Casino-Hotel: Acquisition Strategic Rationale
hetcs\Discussion Materials\2017-09 VICI Refi RFP\07. RAP\VICI RAP v126.pptx GREEKTOWN CASINO-HOTEL: ACQUISITION STRATEGIC RATIONALE ✓ High quality urban asset with significant capital investments in recent years ✓ Potential upside from embedded organic growth opportunities Strong Asset and diversifi
Slide 4: Greektown Casino-Hotel: Transaction Overview
hetcs\Discussion Materials\2017-09 VICI Refi RFP\07. RAP\VICI RAP v126.pptx GREEKTOWN CASINO-HOTEL: TRANSACTION OVERVIEW Greektown Acquisition Penn National Partnership Certain subsidiaries of Real Estate Purchase Price $700.0 million Tenant Penn National LTM 9/30/2018 EBITDAM1 $96.6 million Guarant
Slide 5: Greektown Casino-Hotel: Urban Asset with Growth Potential
hetcs\Discussion Materials\2017-09 VICI Refi RFP\07. RAP\VICI RAP v126.pptx GREEKTOWN CASINO-HOTEL: URBAN ASSET WITH GROWTH POTENTIAL Property Overview Greektown Casino-Hotel 1• Opened in November 2000 in downtown Detroit’s historic entertainment district ~100,000 Sq. ft. of 2• $134 million of capit
Slide 6: Detroit: Stable Market with Room for Growth
hetcs\Discussion Materials\2017-09 VICI Refi RFP\07. RAP\VICI RAP v126.pptx DETROIT: STABLE MARKET WITH ROOM FOR GROWTH Detroit Market Highlights Stable Detroit GGR Through Market Cycles ✓ Limited competition with no additional commercial casinos ($ in billions) permitted¹ Detroit GGR Remains Consis
Slide 7: Greektown Casino-Hotel: Lease Agreement Structure
hetcs\Discussion Materials\2017-09 VICI Refi RFP\07. RAP\VICI RAP v126.pptx GREEKTOWN CASINO-HOTEL: LEASE AGREEMENT STRUCTURE Greektown Rent Structure Other Key Terms ◼ Year 1 Annual Penn National will provide a parent Components of Rent Escalators and Resets Rent ($mm) guarantee ◼ ◼ Set at 2% of LT
Slide 8: Reconciliation from GAAP to Non-GAAP Financial Measures
hetcs\Discussion Materials\2017-09 VICI Refi RFP\07. RAP\VICI RAP v126.pptx RECONCILIATION FROM GAAP TO NON-GAAP FINANCIAL MEASURES CALCULATION OF GREEKTOWN ADJUSTED EBITDAM Twelve Months Ended ($ in millions) September 30, 2018 Net Income $17.5 Interest Expense, Net of Interest Capitalized 20.5 Amo
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