The Millennium Vision for Rockingham Park Presented to

The Millennium Vision for Rockingham Park Presented to The Governor’s Commission on Gaming October 20, 2009 William Wortman, Principal Millennium Gaming 1

What Our Model is Based On Oversight and regulation under NH Lottery Commission Central computer system Video Lottery Terminals (VLT’s) at pari-mutuel facilities plus up to 2 North Country locations 5, 000 VLT’s for Rockingham Park 2, 000 VLT’s at The Lodge at Belmont and Seabrook Operators and machine vendors must be licensed Establishes standards for approval AG’s office conducts background checks 2

What Our Model is Based On VLT payout figure shall be an average of at least 87% Distribution % of gross gaming revenue are: 40% general fund 3% host municipality 1% host county 2% problem gaming programs 1% state tourism fund 1% police, fire and EMS training 1% live racing purse enhancements All operating expenses of the facility are paid out of the remaining 51% of gross gaming revenue 3

What Our Model is Based On Fees paid by operator licensees $100, 000 operator application fee $50, 000 investigation fee $50, 000 initial license fee for horse tracks $20, 000 initial license fee for dog tracks $10, 000 initial license fee for North Country Fees paid by technology providers $50, 000 application fee $25, 000 investigation fee $50, 000 initial license fee 4

What Our Model is Based On Host community must agree by a local referendum vote Enforcement shall fall under the NH Department of Safety, Division of State Police 5

Who is Millennium Gaming? William Wortman William Paulos Oaktree Capital Management 6

Organizational Structure

Cannery Casino Resorts (CCR) Owned by Millennium Gaming, Inc. and Oaktree Capital Management, LLC CCR owns, leases and operates four casinos Cannery Casino & Hotel North Las Vegas, Nevada Rampart Casino Las Vegas, Nevada Meadows Racetrack & Casino Washington County, PA Eastside Cannery Las Vegas, Nevada 8

Cannery Casino & Hotel North Las Vegas, Nevada Facility Stats: • 80, 000 sq. ft. (casino) • 1, 997 Slot Machines • 39 Table Games (Including Poker) • 135 Seat Race /Sports Book • 300 Seat Bingo Parlor 9

Rampart Casino Las Vegas, Nevada Facility Stats: • 50, 000 sq. ft. (casino) • 1, 255 Slot Machines • 30 Table Games (Including Poker) • 115 -Seat Race & Sports Book 10

Eastside Cannery Las Vegas, Nevada Facility Stats: • 65, 000 sq. ft. (casino) • 1, 972 Slot Machines • 30 Table Games (Including Poker) • Race and Sports Book • Bingo Room • Live Keno Lounge 11

Meadows Racetrack & Casino Washington County, PA 12

Meadows Racetrack & Casino Washington County, PA Facility Stats: • 131, 000 sq. ft. (casino) • 3, 800 Slot Machines • 60 Electronic Table Games • 24 -Lane Bowling Center 13

Bill Wortman and Bill Paulos Joint CEO’s 14

Management Expertise Have developed, opened and managed over $3 billion in projects within national and international jurisdictions Projects include: Luxor-Las Vegas, Nevada Excalibur-Las Vegas, Nevada New York-Las Vegas, Nevada Circus-Las Vegas, Nevada Caesars Palace-Stateline, Nevada Crown Casino-Melbourne, Australia Greektown Casino-Detroit, Michigan Cannery Hotel & Casino-Las Vegas, Nevada Eastside Cannery-Las Vegas, Nevada The Meadows Racetrack & Casino-Washington County, Pennsylvania Experience in developing exciting and compelling themed properties Secure depth in management expertise to lead any project to success Dedication to integrity and quality 15

Oaktree Capital Management L. P. Founded in 1995 Over $60 billion of assets under management Multitude of investment strategies in both domestic and international arenas including: Principal opportunities (“Private Equity”) High yield Distressed debt Convertibles Real estate Emerging markets Mezzanine High yield plus Office locations in Los Angeles, New York, Stamford, London, Frankfurt, Luxemburg, Hong Kong, Tokyo, Beijing, and Singapore Over 400 employees 16

Why Rockingham Park Makes Sense Long History of Gaming at the Rock First in the nation lottery Existing racetrack Charity gaming Location, Location New Hampshire/Massachusetts border Approximately 70% of customers will come from Massachusetts Excellent existing infrastructure The community wants it 17

Why Millennium Makes Sense Solid owner/operator experience Our ability to finance this $450 million investment We can be up and running quickly Operator/owner already vetted by NH AG’s office for pari-mutuel licensing purposes Engineering and design work already in process Facilities generating revenue in next Biennium 18

Our Model—What it is not… It is not an unproven model 38 states have some sort of legalized gaming (excluding pari- mutuel, charitable and lotteries) and 12 of those are “racino” models It is not a panacea to all the State’s budget problems The State must continue to make difficult decisions relative to resource allocation Gaming is A revenue source, not THE revenue source It is not another tax on the citizens of NH Every gaming revenue dollar the State receives is a dollar received without the need for a new or increased tax or fee 19

Our Model—What it is…. $450 million capital investment Phase I facility of 3, 000 video lottery terminals (VLT’s); Phase II facility of 5, 000 video lottery terminals Enhanced live horseracing and charity table games Based on The Meadows racino 20

Our Model—What it is… Rendering of Rockingham Park Phase I 21

Our Model—What it is… Rendering of Rockingham Park Phase II 22

Our Model—What it is… Rendering of Rockingham Park Phase II Facility Interior 23

Our Model—What it is… An economic development and enhanced tourism engine $450 million investment budget equals approximately 1, 100 full time equivalent jobs during construction Approximately 1, 000 high quality permanent, family-sustaining jobs with good and meaningful career opportunities Will inspire a variety of high quality, non-gaming amenity developments Non-weather dependant form of tourism “We have seen many changes over the past 25 years in Washington County and southwestern Pennsylvania but our commitment to our residents and quality of life has not changed. Gaming at The Meadows is not only benefitting the race track and racing; it is strengthening our local businesses, complementing our destination retail efforts and creating new jobs for our residents. ” Jeff Kotula, President, Washington County Chamber of Commerce 24

Our Model—What it is… The people’s choice And…a sustainable, dependable source of revenue to the state… 25

Potential Revenue Analysis HANDOUTS 26

Conclusion Why Millennium and The Rock? Questions and Answers 27