Vici Properties Inc. · NYSE:VICI

Vici Properties — Merger or Acquisition (October 2019)

10 slides from Vici Properties's merger presentation, Oct 28, 2019

  1. Slide 1: JACK Cleveland & JACK Thistledown Transaction Overview

    Exhibit 99.2 JACK CLEVELAND & JACK THISTLEDOWN TRANSACTION OVERVIEW OCTOBER 28, 2019

  2. Slide 2: Disclaimers: Forward-Looking Statements

    0 32 96 0 96 199 0 187 167 DISCLAIMERS 112 173 71 Forward-Looking Statements 72 73 79 This presentation contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “gui

  3. Slide 3: JACK Cleveland/Thistledown – Acquisition Strategic Rationale

    0 32 96 0 96 199 0 187 167 JACK CLEVELAND/THISTLEDOWN – ACQUISITION STRATEGIC RATIONALE 112 173 71 72 73 79 Transaction Highlights 162 35 45  Attractive acquisition cap rate of 7.8% for the urban real estate of JACK Cleveland Casino and for JACK Thistledown 244 242 241 Racino (collectively, “JACK C

  4. Slide 4: JACK Cleveland/Thistledown – Transaction Overview

    0 32 96 0 96 199 0 187 167 JACK CLEVELAND/THISTLEDOWN – TRANSACTION OVERVIEW 112 173 71 72 73 79 162 35 45 JACK Cleveland/Thistledown Acquisition JACK Entertainment Partnership 244 242 241 194 209 216 JACK Cleveland Casino PropCo Subsidiary of $843.3 million Tenant Purchase Price JACK Ohio Finance L

  5. Slide 5: New Partnership with JACK Entertainment

    0 32 96 0 96 199 0 187 167 NEW PARTNERSHIP WITH JACK ENTERTAINMENT 112 173 71 72 73 79 JACK Entertainment Overview 162 35 45 • JACK Entertainment LLC (“JACK”) is a Detroit-based urban gaming company currently controlled by Dan Gilbert and affiliates. JACK is part of the Rock Ventures Family of Compa

  6. Slide 6: JACK Cleveland Casino – Leading Urban Casino in Strengthening Ohio Market

    0 32 96 0 96 199 0 187 167 JACK CLEVELAND CASINO – LEADING URBAN CASINO IN 112 173 71 STRENGTHENING OHIO MARKET 72 73 79 162 35 45 Property Overview JACK Cleveland  JACK Cleveland Casino opened in May 2012 in the historic Higbee Building as 244 242 241 the only full-scale urban casino in a 100-mile

  7. Slide 7: JACK Thistledown Racino – Newly Refurbished Racino Serving Cleveland MSA

    0 32 96 0 96 199 0 187 167 JACK THISTLEDOWN RACINO – NEWLY REFURBISHED RACINO SERVING 112 173 71 CLEVELAND MSA 72 73 79 162 35 45 Property Overview JACK Thistledown Racino  JACK Thistledown Racino opened in April 2013 in North Randall, Ohio, and is the 244 242 241 leading thoroughbred racino in the

  8. Slide 8: Ohio Is a Well Positioned Market with Strong Organic Growth Trends

    0 32 96 0 96 199 0 187 167 OHIO IS A WELL POSITIONED MARKET WITH STRONG ORGANIC 112 173 71 GROWTH TRENDS 72 73 79 162 35 45 Market & Regulatory Overview Favorable Macroeconomic Trends Ohio Employment Growth 244 242 241 Market Highlights Regulatory Highlights 12.0 % 5,700  Ohio has quickly become on

  9. Slide 9: JACK Cleveland/Thistledown Lease Agreement Overview

    0 32 96 0 96 199 0 187 167 JACK CLEVELAND/THISTLEDOWN LEASE AGREEMENT OVERVIEW 112 173 71 72 73 79 162 35 45 Initial Cash Rent $65.9 million 244 242 241 1.0% in lease years 2-3 194 209 216 Annual Escalator1 1.5% in lease years 4-6 > of 1.5% and CPI beginning in lease year 72 Rent Adjustment Year 8:

  10. Slide 10: Reconciliation from GAAP to Non-GAAP Financial Measures

    0 32 96 0 96 199 0 187 167 RECONCILIATION FROM GAAP TO NON-GAAP FINANCIAL MEASURES 112 173 71 CALCULATION OF JACK CLEVELAND/THISTLEDOWN ADJUSTED EBITDARM 72 73 79 162 35 45 Last Twelve Months Ended Last Twelve Months Ended ($ in millions) September 30, 2019 September 30, 2018 244 242 241 Net Income

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