GEORGIA GAMING CONGRESS Maximising the value of your casino license

Approved UK Gambling Commission Licence Holder Casinos, retail sports betting, hotels and leisure UK, Ireland, Belgium, Spain, Italy, Austria, Malta, Ukraine, Georgia Ladbrokes, Gala Coral, Genting, Casinos Austria, Caesars, Partouche Public and private sector Regulators, investors, developers and operators

Market Overview – Annual casino revenue growth

Market Overview – Annual duties paid

Market Opportunity – Growth in tourism

Market Opportunity – International tourism o TotalHouseholdexpenditureincreasedby127.7%since2005(CAGR10.8%) o TotalHouseholdincomeincreasedby155.6%since2005(CAGR12.5%)

Market Opportunity – Short stay visits o TotalHouseholdexpenditureincreasedby127.7%since2005(CAGR10.8%) o TotalHouseholdincomeincreasedby155.6%since2005(CAGR12.5%)

Market Opportunity – Not just Tbilisi and Batumi…

Market Opportunity – Batumi?

Maximising the value of your casino license – Public Sector Proven, international private sector regeneration intervention Delivers local jobs, supply chain, expenditure, investment, development Catalyst for future prosperity How many…where…when…what Competitive licence process Quality and content of the proposed development Deliverability capability and track record of developer Operational capability of the casino partner Responsible gambling and regulatory track record Robustness of financial assumptions and ‘covenant’ strength Greatest local economic impact Opportunity for commitments to local causes or tourism

Maximising the value of your casino license – Private Sector Competitive landscape - both supply and demand Maximise investment commitment – operationally and commercially Commercial partnership Landlord and tenant Management Agreement JV Operational partnership - competitive licence process Operator quality International expertise Experience of operating with hotels Robustness of financial assumptions and financial strength Responsible gambling and regulatory track record Marketing and promotional approach and reach Customer service and training standards

Securing a casino license – Current opportunities Exciting new developments More than just a hotel and a casino Tbilisi, Batumi and other locations Differentiation International expertise Financial strength Quick decision making Operational track record Responsible gambling Marketing and promotions

Maximising the value of your casino license – Joint Considerations Over supply or the right supply Hotel occupancy and market positioning Development and content that provides a broader mix of attractions Market differentiation – design, content, service, training, promotions Changes in permitted casino regulation from surrounding countries Stable tax and licence environment from the government Industry understanding and appreciation from the regulators Maximise local economic impact for collective benefit Demand a high quality of operation through a focused process

GEORGIA GAMING CONGRESS Questions