Presented toThe Governor’s Commission on Gaming

October 20, 2009

William Wortman, Principal Millennium Gaming

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What Our Model is Based OnOversight and regulation under NH Lottery

CommissionCentral computer system

Video Lottery Terminals (VLT’s) at pari-mutuel facilities plus up to 2 North Country locations5,000 VLT’s for Rockingham Park2,000 VLT’s at The Lodge at Belmont and Seabrook

Operators and machine vendors must be licensedEstablishes standards for approvalAG’s office conducts background checks

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What Our Model is Based OnVLT payout figure shall be an average of at least 87%Distribution % of gross gaming revenue are:

40% general fund3% host municipality1% host county2% problem gaming programs1% state tourism fund1% police, fire and EMS training1% live racing purse enhancements

All operating expenses of the facility are paid out of the remaining 51% of gross gaming revenue

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What Our Model is Based OnFees paid by operator licensees

$100,000 operator application fee$50,000 investigation fee$50,000,000 initial license fee for horse tracks$20,000,000 initial license fee for dog tracks$10,000,000 initial license fee for North

CountryFees paid by technology providers

$50,000 application fee$25,000 investigation fee$50,000 initial license fee

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What Our Model is Based OnHost community must agree by a local

referendum voteEnforcement shall fall under the NH

Department of Safety, Division of State Police

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Who is Millennium Gaming?

William WortmanWilliam Paulos

Oaktree Capital Management

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Organizational StructureWilliam

Wortman

20% Millennium Gaming , Inc.

Oaktree(Acq u is itio n C o, L L C)

WilliamPaulos

Cannery Casino Resorts , LLC

Rockingham Park

The Cannery Casino & Hotel

Rampart Casino

Nevada Palace , LLC /Eastside Cannery

The Meadows Racetrack & Casino

Owned by Millennium Gaming, Inc. and Oaktree Capital Management, LLC

CCR owns, leases and operates four casinos

Cannery Casino Resorts (CCR)

Cannery Casino & HotelNorth Las Vegas, Nevada

Rampart CasinoLas Vegas, Nevada

Meadows Racetrack & Casino Washington County, PA

Eastside CanneryLas Vegas, Nevada

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Cannery Casino & HotelNorth 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

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Rampart CasinoLas Vegas, Nevada

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

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Eastside CanneryLas 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

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Meadows Racetrack & Casino Washington County, PA

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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

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Bill Wortman and Bill PaulosJoint CEO’s

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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-New York-Las Vegas, Nevada Circus Circus-Las Vegas, Nevada Caesars Palace-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

Oaktree Capital Management L.P.Founded in 1995Over $60 billion of assets under managementMultitude 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 employees16

Why Rockingham Park Makes SenseLong History of Gaming at

the RockFirst in the nation lotteryExisting racetrackCharity gaming

Location, Location, LocationNew Hampshire/Massachusetts

border Approximately 70% of customers

will come from MassachusettsExcellent existing infrastructureThe community wants it

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Why Millennium Makes SenseSolid owner/operator experienceOur ability to finance this $450 million

investmentWe 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

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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 problemsThe State must continue to make difficult decisions

relative to resource allocationGaming is A revenue source, not THE revenue source

It is not another tax on the citizens of NHEvery gaming revenue dollar the State receives is a

dollar received without the need for a new or increased tax or fee

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Our Model—What it is….

$450 million capital investmentPhase 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

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Our Model—What it is…

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Rendering of Rockingham Park Phase I

Our Model—What it is…

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Rendering of Rockingham Park Phase II

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

Facility Interior

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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 constructionApproximately 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

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Our Model—What it is…The people’s choice

And…a sustainable, dependable source of revenue to the state…

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Potential Revenue Analysis

HANDOUTS

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Conclusion

Why Millennium and The Rock?

Questions and Answers

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