FOR SALE 3227 CIVIC CENTER DRIVE, NORTH LAS VEGAS, 89030 FOR SALE 3227 CIVIC CENTER DRIVE, NORTH LAS VEGAS, NEVADA 89030

OFFERING SUMMARY

PRICE $13,000,000

2018 EBITA* $2,165,844 (*TTM as of 8/31)

CAP RATE 16.7%

HOTEL ROOMS 85

CASINO SIZE 16,480 SF

SLOTS 239 (204 owned)

ACREAGE 5.42 Acres CONFIDENTIALITY AGREEMENT

© 2018 Colliers International

This Confidential Offering Memorandum (the “Memorandum”) is being delivered exclusively by Colliers International (the “Agent”) to a party who may be interested in the acquisition of the Lucky Club Hotel , 3227 Civic Center Drive, North Las Vegas, Nevada 89030 (the “Property”), described in this Memorandum. This is a private offering, made only by delivery of a copy of the Memorandum to the recipient (the “Recipient”). By accepting this Memorandum, the Recipient agrees to comply strictly with the terms and conditions of the Confidentiality Agreement previously executed and delivered to the Agent by the Recipient with respect to this Memorandum and all information contained herein, and to use this Memorandum only for the purpose of evaluating the offering made hereby.

The material contained in this Memorandum is provided solely to assist the Recipient in determining whether it is interested in making an investigation or evaluation concerning a potential purchase of the Property. Neither the Agent nor any affiliates or client of the Agent which term includes related entities, the owners of any equity interest in the Property, (“Owner”), the manager of the Property (“Manager”), and any officers, employees and agents of any such parties make any representations or warranties with regard to the accuracy or completeness of the information contained herein. This Memorandum may include statements and estimates provided by the Agent, the Owner, or the Manager with respect to the anticipated future performance of the Property. Nothing contained in this Memorandum should be construed as a representation as to the future performance of the Property, and the Recipient acknowledges and agrees that any statements or estimates relating to future performance reflect various assumptions concerning the Property’s anticipated results, which may or may not prove to be correct. No representations are made as to the accuracy of such statements and estimates, and none of the Agent, the Owner, the Manager, or any related entities shall have any liability with respect to or arising from any inaccuracy in such statements or estimates. Statements made in this Memorandum as to the content of any contract or other document referred to, are not complete or definitive descriptions, but summaries or portions thereof. Each such statement is qualified by its reference to the full text of the contract or document, copies of which will be made available by the Agent to Recipient upon request. In addition, not all contracts or other documents, which may be relevant, have been summarized or referenced in this Memorandum. This Memorandum is being delivered by the Agent to a prospective purchaser with the understanding that it will independently investigate those matters which it deems appropriate in evaluating the Property and will rely solely on its own investigation in determining whether to purchase the Property.

This Memorandum does not constitute an offer to sell, or a solicitation of an offer to buy, an interest in the Property in any jurisdiction in which, or to any person for which, such offer, sale, or solicitation would be unlawful. Except where otherwise indicated, the information contained in this Memorandum has been prepared as and no obligation is assumed to supplement or modify the information to reflect subsequent events or conditions. Nothing contained in this Memorandum may be construed to constitute legal or tax advice to a Recipient concerning the Property or purchase of the Property.

More detailed information regarding the expected terms, conditions, and timing of the offering of the Property will be provided in due course by separate communication with each Recipient. The Agent, the Owner and the Manager reserve the right to engage in discussions or negotiations with one or more recipients or other prospective investors at any time without notification to, or other obligation to, any other Recipient or prospective investor. The offering made hereby is subject to a change in terms or termination without notice. The Owner and the Manager will remain free to operate the Property in their sole and absolute discretion during the evaluation and offering process, including the taking of such actions, whether within or outside of the ordinary course of business, which the Owner or the Manager shall deem necessary, prudent or desirable.

OFFERING SUMMARY The Agent reserves the right to require the return of this Memorandum and any other material provided to the Recipient at any time. Acceptance of this Memorandum by the Recipient constitutes acceptance of the terms and conditions outlined above.

Mike Mixer, Dharmesh Patel Executive Managing Director Executive Managing Director , Hotels, USA +1 702 836 3777 +1 408 497 1222 [email protected] [email protected] HIGHLIGHTS

Colliers International has been exclusively retained to offer for sale the fee simple interest in the Lucky Club Hotel & Casino. Unencumbered by brand and management affiliations, as well as any long term leases, the property is ideally suited for a gaming entrepreneur to put their unique stamp on it.

The offering represents a unique opportunity to acquire a full-fledged gaming property at a price point rarely seen in Las Vegas. This asset is offered to investors at a basis well below replacement cost, located in the high-barrier to entry Las Vegas gaming market. This is a grandfathered, non-restricted casino. In order for a new competitor to enter the North Las Vegas market, they must develop a minimum of 200 hotel rooms along with substantial amenities.

The Lucky Club is a full service hotel casino with 85 renovated guest rooms located on Interstate 15 and Cheyenne Avenue in North Las Vegas. The property offers a solid infrastructure, a loyal customer base, and an excellent Interstate location. The property benefits by a growing local’s market and from the Interstate attracting visitors and truckers looking for a clean hotel room, ample parking, great food and entertainment.

COLLIERS INTERNATIONAL – INVESTMENT OFFERING The property provides an excellent opportunity to grow, representing a significant EBITDA growth story. Historically, current ownership has lacked the capital investment necessary to elevate the potential of the property.

A NEW OWNER CAN TAKE ADVANTAGE OF THE EXCELLENT EXISTING FOOTPRINT AND IMPROVE UPON THE FOLLOWING:

• ROOM UPSIDE – Room count and size remain competitive, but adding a potential brand- flag to the property can generate more significant revenue upside.

• FOOD & BEVERAGE – The property boasts an excellent restaurant space to accommodate the needs of a growing property. A repositioning of the operation or the addition of a known brand may drive more revenue.

• EVENTS – There is demand in this trade area for special events and celebrations. The property facilities could be repositioned to take advantage of this demand.

• ACTIVE MANAGEMENT – The property does not currently have a full-time management team. With an attentive management and marketing team, the full potential of this property could be achieved. The property does well despite being under-valued and under-marketed.

LOYAL CUSTOMER BASE EXCELLENT LOCATION 85 RENOVATED ROOMS

5 LOCATION OVERVIEW

LAS VEGAS STRIP LASVEGAS STRIP

COLLIERS INTERNATIONAL – INVESTMENT OFFERING The Lucky Club is a full service hotel casino with 85 renovated guest rooms located on Interstate 15 and Cheyenne Avenue in North Las Vegas. Close proximity to , the property enjoys incredible freeway exposure and visibility. NORTH LAS VEGAS IS ONE OF NEVADA’S FASTEST GROWING CITIES.

7 FOR SALE 3227 CIVIC CENTER DRIVE, NORTH LAS VEGAS, NEVADA 89030 BELOW REPLACEMENT COST

CIVIC CENTER DRIVE

CHEYENNE AVENUE HOTEL OVERVIEW

85 ROOMS LOCATED ALONG THE WEST WING OF THE PROPERTY

400 SF GUEST ROOMS FEATURE NEW FURNITURE, BEDDING, MATTRESSES, DRAPES, CARPET AND OTHER DESIGNER AMENITIES.

AMENITIES HOTEL OFFERS A DOG PARK, SWIMMING POOL AND NEARLY 6 ACRES OF PARKING, MAKING THE LUCKY CLUB PET-FRIENDLY, FAMILY-FRIENDLY AND TRUCKER-FRIENDLY.

• Dedicated Porte-cochère entrance • One elevator servicing 3 floors • Recent $5 million property refresh and separate front desk lobby of interior corridor rooms connected to the casino • Laundry services in house

COLLIERS INTERNATIONAL – INVESTMENT OFFERING 11 Players have numerous options with My Points rewards for repeat play and loyalty.

A FULL COMPLEMENT OF CASINO GAMES MAKE THE LUCKY CLUB AN ATTRACTION FOR ALL TYPES OF GAMING CUSTOMERS.

COLLIERS INTERNATIONAL – INVESTMENT OFFERING GAMING OVERVIEW

16,480 SF DEDICATED GAMING AREA

FOUR BLACKJACK TABLES - Stage area and bar for special events, live music, etc. (ROOM FOR ADDITIONAL TABLE GAMES) - 24 hour cage - Full service race and sportsbook

239 SLOTS SLOT MACHINES GALORE (204 OWNED/35 PARTICIPATION)

13 FOOD & BEVERAGE OVERVIEW

LUCY’S BAR & GRILL OFFERS IT PATRONS AN EXCELLENT DINING EXPERIENCE FOR BREAKFAST, LUNCH AND DINNER. ITS MENU IS WELL RECEIVED BY LOCALS AND VISITORS ALIKE. THE RESTAURANT INCLUDES A BAR FOR WATCHING SPORTS AND PLAYING SLOTS/KENO.

• 24-hour room service to hotel

TOP PERFORMING • Banquet facilities for special events LODGING MARKET A city-wide occupancy level of just under 90%, the ENTERTAINMENT AND NIGHTLIFE OVERVIEW highest of all major metros in North America. THE PROPERTY OFFERS ITS GUESTS AND VISITORS A WIDE SELECTION OF ENTERTAINMENT PROGRAMMING.

• There are two F & B outlets in the property

• Event space has hosted live boxing and wrestling cards.

• Home of FMF soccer and home to Raider Nation Raiders fans

• Existing event staging provides for events like: Latin Karaoke Night, live bands, and DJ’s.

• With banquet food options, the property regularly hosts dinner parties, holiday celebrations, viewing parties and contests.

COLLIERS INTERNATIONAL – INVESTMENT OFFERING SUPERIOR ACCESS AND UNOBSTRUCTED VISIBILITY Located on Interstate 15 just east of the famous Downtown Las Vegas, the property enjoys incredible freeway exposure and visibility.

CHEYENNE AVENUE

CIVIC CENTER DRIVE

15 OPPORTUNITY FOR GROWTH

• The Lucky Club property offers a number of • Repositioning the restaurant with a nationally additional growth opportunities, representing recognized F&B brand will increase regular flow significant EBITDA growth potential of customers

• Potential to flag the property to provide higher • Fee simple site with expansion potential to existing sustained occupancy facilities or out parcels

• Add additional meeting/event space to take • Invest in revenue generating upgrades to the advantage of local demand for events. pool area

UNIQUE OPPORTUNITY TO ACQUIRE A FULL-FLEDGED GAMING PROPERTY AT A PRICE POINT RARELY SEEN IN LAS VEGAS

COLLIERS INTERNATIONAL – INVESTMENT OFFERING GREAT MARKET FUNDAMENTALS

Las Vegas is investing over $16 billion in new development of highways, convention space and infrastructure across the public/private sectors.

UNENCUMBERED BY BRAND AND MANAGEMENT

Allowing maximum flexibility for a new buyer. Provides for numerous redevelopment opportunities to create a small, lifestyle casino hotel that is minutes from the , with a strong local population base.

17 HISTORICAL FINANCIAL SUMMARY

FYE 2015 FYE 2016 FYE 2017 TTM 2018 AS OF 8/31

TOTAL REVENUE $10,421,225 100% $11,235,181 100% $11,153,365 100% $12,698,416 100%

COST OF SALES $1,485,276 14% $1,729,876 15% $1,751,092 16% $2,116,794 17%

GROSS PROFITS $8,935,949 86% $9,505,305 85% $9,402,273 84% $10,581,622 83%

TOTAL EXPENSES $7,832,260 75% $8,425,551 75% $8,126,127 73% $9,189,422 72%

NET OPERATING INCOME $1,103,689 11% $1,079,754 10% $1,276,146 11% $1,392,200 11%

ADJUSTMENTS (see notes) $694,308 6% $850,277 7%

ADJUSTED EBITDA $1,103,689 11% $1,079,754 10% $1,970,454 18% $2,242,477 18%

CAP % 15.2% 17.2%

PURCHASE PRICE $13,000,000

NOTES FOR 2017 & 2018

1. Purchased 4 participation games in 2018 which should result in $45,600 additional income and booked $17,385 in other income in 2018.

2. 30% of G&A salaries allocation to Siliver Nugget of $270,518 in 2017 & 2018 each

3. 50% allocation of accounting, IT, & marketing based at and Corporate office of$423,791 in 2017 & $440,740 in 2018

4. The Lucky Club shares corporate expenses with the Silver Nugget Casino. These expenses are booked at the Silver Nugget and then an allocation of expense is submitted to the Lucky Club under the Allocations line of the P&L. $76,033 of expenses were incorrectly allocated to the Lucky Club.

COLLIERS INTERNATIONAL – INVESTMENT OFFERING LAS VEGAS VISITOR STATISTICS

VISITOR VOLUME

CONVENTION ATTENDANCE

CITYWIDE OCCUPANCY, TRAILING 13-MONTHS

Sources: Las Vegas Convention and Visitors Authority; McCarran International Airport; Nevada Department of Transportation (NDOT); Nevada Gaming Control Board 19 COLLIERS INTERNATIONAL – INVESTMENT OFFERING 21 STRIP REVENUESTOTAL REVENUE CONTINUES TO GROW PACED BY CONTINUING STRIP REVENUES INCREASES IN ROOMS, F&B AND OTHER REVENUE SOURCES. ‹ Total Revenue continues to grow paced by continuing increases ‹ 29% increase since 2010 in Rooms, F&B and Other revenue sources. 29% INCREASE SINCE 2010

$20.00

$18.00

$2.63 $16.00 $2.48 $2.53 $2.35 $2.18 $2.31 $2.25 $14.00 $2.29 $2.19 $4.02 $2.17 $3.96 $2.06 $3.90 $12.00 $3.07 $3.15 $3.72 $3.61 $3.56 $3.29 $10.00 $2.91 $ IN BILLIONS $2.92 $4.08 $5.08 $8.00 $4.07 $4.25 $4.47 $4.81 $3.86 $3.93 $3.37 $3.52 $3.11 $6.00

$4.00 $6.49 $6.27 $5.99 $5.84 $5.86 $6.04 $5.33 $5.17 $5.50 $5.56 $5.75 $2.00

$0.00 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

GAMING ROOMS F&B OTHER

Heart of the Strip 27 COLLIERS INTERNATIONAL – INVESTMENT OFFERING STRIP GAMING REVENUES ‹ Table games revenue exceeds pre-recession peak

‹ Slot revenues are improving, with recent YoY gains

$8.0 25.0%

$7.0 20.0%

$6.0 15.0%

$5.0 10.0% STRIP

$4.0 5.0% GAMING REVENUES % CHANGE $ IN BILLIONS $3.0 0.0% • Table games revenue exceeds

$2.0 -5.0% pre-recession peak

$1.0 REVENUE – ROOMS -10.0% • Slot revenues are improving, with ‹ The market continues to enjoy steady increases $0.0 in both ADR and REVPAR -15.0% recent YoY gains 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 ‹ The market has absorbed the added capacity which

came on-line in ’08 – ‘10 SLOTS TABLES OTHER CHANGE

28 Market Overview

$140.00 $0.20

$120.00 $0.15 STRIP $0.10 $100.00 REVENUE ROOMS $0.05

$80.00 • The market continues to enjoy $0.00 steady increases in both ADR $60.00 -$0.05 and REVPAR

-$0.10 $40.00

-$0.15 • The market has absorbed the added $20.00 capacity which came on-line in -$0.20 2008 – 2010 $0.00 -$0.25 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

ADR RevPAR ADR % CHANGE

Heart of the Strip 29

23 APPENDIX LAS VEGAS MARKET OVERVIEW

COLLIERS INTERNATIONAL – INVESTMENT OFFERING THE STRONG RECOVERY IN LAS VEGAS MAKES IT ONE OF THE TOP TOURISM DESTINATIONS IN THE COUNTRY

In 2017, Las Vegas reached nearly 43 million visitors. Gaming revenues maintained a steady increase since the great recession. LAS VEGAS MARKET OVERVIEW Population has continued to grow at over 1%. The average unemployment rate continues to decline towards previous market lows APPENDIX reaching 4% in May 2018. Wages continue to increase allowing for more disposable income for residents.

25 LAS VEGAS ECONOMIC TRENDS (Las Vegas Convention and Visitors Authority)

Statistic 2013 2014 2015 2016 2017

Visitor Volume 39,668,221 41,126,512 42,312,216 42,936,109 42,208,100 Las Vegas Gaming Revenue $9.6bn $9.5bn $9.6bn $9.7bn $10.8bn

Room Occupancy 84.3% 86.8% 87.7 % 89.1% 88.6% Area Overview

Average Daily Room Rates $110.72 $116.73 $120.67 $125.96 $129.05 Clark County, the most populous of Nevada’s 17 counties, is home to more Convention Delegates 5,107,416 5,169,054 5,761,366 6,310,616 7, 2 59,10 0 than two million residents, about 73%

Total En/Deplaned of the state’s population. The estimated 41, 8 557,0 0 9 42,878,346 45,389,074 47,43 5,640 48,500,194 Passengers median household income is approximately

Room Inventory 150.103 150,126 149,612 149,339 147, 26 8 $55,303. The city of Las Vegas sits at the heart of Clark County and is internationally renowned as the world capital of entertainment. Las Vegas’ gaming, dining, VISITOR VOLUME VS. GAMING REVENUE shopping and business conventions are major attractions for national and international visitors. Las Vegas has approximately 147,268 hotel rooms.

Over 42.2 million people visited Las Vegas in 2017.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 2 Las Vegas Employment Overview As of 2018, Las Vegas unemployment stands at 4.8%, which is about 30 basis points lower than it was in 2017 at 5.1%. Tourism is the largest job sector in Las Vegas, representing 29.5% of the market, but professional and business services and retail trade have a significant impact as well, representing 14.0% and 10.3% of the market, respectively.

LAS VEGAS TOP EMPLOYERS Firm Employees Gaming, government, tourism and education are the leading areas of Station Inc. 13,000-13,499 Nellis Air Force Base 12,000-12,499 employment in Las Vegas. Although in recent years, several new industries Corp. 9,000-9,499 Las Vegas Sands Corp. 8,500-8,999 such as data centers, high tech manufacturing and healthcare services are LLC 8,000-8,499 helping to diversify the local economy. MGM Resorts International 8,000-8,499 LLC 8,000-8,499 Aria Resort & Casino 7,000-7,499 300,000 new jobs Prestigious Companies Resort & Casino 7,000-7,499 Wal-Mart Stores Inc. 6,000-6,499 Expected In The Next 20 Years With Major 8 Fortune 1000 Companies Headquartered Gains In Technology, Healthcare & In Las Vegas Caesars Entertainment Corp. 5,500-5,999 Infrastructure Sectors The Valley Health System 5,000-5,499 University of Nevada-Las Vegas 5,000-5,499 Las Vegas Metropolitan Police Department 4,500-4,999 $2.5 Billion+ $4 Billion+ Mirage Casino-Hotel 4,500-4,999 In Manufacturing/Tech Facility In Public Infrastructure The Venetian Casino Resort 4,000-4,499 Investment Underway Investment Underway SUPERVALU Inc. 4,000-4,499 Cosmopolitan of Las Vegas 4,000-4,499 Casino Resort 3,500-3,999 University Medical Center of Southern Nevada 3,000-3,499

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 3 Las Vegas Highlights

20,000 Seats NHL Expansion The Las Vegas Raiders T-Mobile Arena, a multi-use indoor arena T-Mobile Arena will host over 150 events The relocation of the Oakland Raiders on the Las Vegas Strip opened in April 2016 per year and is the current home of the is anticipated to create a $600+ million NHL Golden Knights economic impact add 450,000+ incremental visitors and host 45+ events annually

Mandalay Bay LVCC Expansion $1 billion public Convention Center Las Vegas Convention Center works project is currently undergoing a $2.5 billion, recently underwent a 350,000 square foot underway to modernize and expand 600,000 square foot expansion to absorb expansion and is now one of the largest in Las Vegas vehicular infrastructure North America excess demand

Steady Growth MSG Sphere A revolutionary new 18,000-seat venue for The University continues to grow with a concerts, sports and live entertainment that total student headcount of 30,471 (2017) will be completed in 2020.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 4 Las Vegas #1 Trade Show Destination for 24 consecutive years -Trade Show News Network

#3 and #9 Largest Convention Centers in the U.S. are Located in Las Vegas Convention Centers While Las Vegas has historically been known as a gaming destination, the city’s diverse non-gaming allure continues to strengthen and has far surpassed gambling demand. 66,500 jobs and generates One such demand driver is the unparalleled convention and meeting space capacity more than $9.3 billion in available throughout the city. In 2017, Las Vegas held over 21,000 conventions and hosted over 6.6 million convention delegates. economic impact. The Las Vegas M.I.C.E . Las Vegas also hosted 5 of the top 10 and 9 of the top fifteen largest (meetings, incentives, conferences, and events) sector conventions/trade shows held in the U.S.

Las Vegas visitation numbers hit a new peak of 42.9M visitors in 2016, a 10% increase over its pre-recession peak.

There was a 17.8 increase in International visitation from 2013-2015. McCarran International Airport has benefited from the increased visitation, making it the No. 27 busiest airport in the world i n 2 017.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 5 Developments in the

NFL - LAS VEGAS RAIDERS $1.9 Billion estimated cost Professional Sport Franchises Las Vegas’ First NFL Team – On March 27th, 2017, the NFL owners approved the Raiders’ relocation to Las Vegas. The $1.9 billion stadium is expected to take As a means to continue the diversification three years to build and will be located near the southern end of the Las Vegas of its economy, Nevada successfully Strip (near Mandalay Bay). This new stadium will also host world-class events received its first professional sports including college football games, big-name concerts, major UFC fights, March franchise in 2016 concurrent with the Madness, soccer matches and political events. The Raiders are expected to completion of its T-Mobile Arena. play in the 65,000-seat domed stadium by the 2020 season. The Southern Furthermore, in November 2016, Las Nevada Tourism Infrastructure Committee (SNTIC) estimates that Las Vegas Vegas approved a hotel tax ordinance to can expect $100 million worth of media exposure a year from the Raiders help fund the stadium for the NFL’s which is excellent publicity across the Las Vegas community. Oakland Raiders relocation.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 6 Developments in the Las Vegas Valley This popular destination is the 28th largest Metropolitan Statistical Area in the United States with over two million residents. With its strong economic recovery, Las Vegas has about $15 billion in construction projects that are planned, proposed or under construction. The following pages include a summary of these projects.

400,000 SF CONVENTION CENTER $4 Billion estimated cost CONSTRUCTION LAS VEGAS PARK MGM & Broke ground May of 2015. Upon their Also restoring the 18-hole Tom CONVENTION CENTER 2020 completion date, this $4 billion NOMAD LAS VEGAS Asian-themed resort will include 3,000 Fazio-designed golf course EXPANSION $450 Million estimated cost hotel rooms and will consist of 175,000

Wynn Resorts Ltd. is moving forward $2.3 Billion estimated cost square feet of gaming. It’s estimated that there will be 3,500 slot machines MGM Resorts International and Sydell with its 400,000 SF Convention and table games. Genting BHD, Group announced a partnership to Center construction. The convention The Las Vegas Convention and Visitors Southeast Asia’s largest casino rebrand Monte Carlo Resort & Casino center is under construction just Authority (“LVCVA”) has a planned operator, is developing this property in with two distinct hotel experiences north of Sands Avenue and east of the expansion and renovation project multiple phases. The first phase is — Park MGM and NoMad Las Vegas. Wynn Las Vegas tower. They’re also intended to make the Las Vegas expected to be completed in 2019. Costing approximately $450 million to restoring the 18-hole Golf Course. “We Convention Center the best meeting Once fully finished, there will be three construct, the renovation and rebrand actually went back and re-engaged and convention facility in the World. towers totaling the room count to will touch every aspect of the Tom Fazio, who was the original The $2.3 billion project, named the Las 3,400. will property. Experiences include: designer of our golf course to come in Vegas Global Business District, is the help the Las Vegas employment market “a Las Vegas version of Sydell’s widely and take a look at the couple holes largest economic development by employing 13,000 direct and indirect acclaimed NoMad Hotel, and the that were disrupted by this initiative the LVCVA has undertaken jobs. It will also contribute greatly to launch of a new luxury hotel named 400,000-square-foot convention since the Las Vegas Convention the Las Vegas economy which is Park MGM.” Construction is expected center and see if we can design a new Center was originally built in the late projected to generate $155 million in to commence in late 2016 and 18-hole golf course connected to 1950s. The expansion project is annual tax revenue. conclude in late 2018. Wynn and Encore and have that back expected to lead to an additional in back in action before our 480,000 new attendees as current convention center opens.” conventions grow and through attracting an estimated 20 new trade shows and conventions. COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 7 Developments in the Las Vegas valley

Developers closer to beginning work on MSG Sphere Las Vegas

18,000-SEAT MSG SPHERE LAS VEGAS 360 feet tall and just off the McCarran International Airport flight pattern

The facility, to be built on a 63-acre lot east of the Sands Expo Center, The Venetian and the Palazzo, will be connected to the convention center by a pedestrian bridge. The 400,000-square-foot facility will be built on an open-air storage lot at Sands Avenue between Koval Lane and Manhattan Street. COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 8 Developments in the Las Vegas Valley This popular destination is the 28th largest Metropolitan Statistical Area in the United States with over two million residents. With its strong economic recovery, Las Vegas has about $15 billion in construction projects that are planned, proposed or under construction. The following pages include a summary of these projects.

UNION VILLAGE LAS VEGAS MEDICAL DISTRICT $1.6 Billion estimated cost & UNLV MEDICAL LAS VEGAS PROJECT NEON Union Village is the first Integrated SCHOOL Health Village in the world and is listed ALL NET ARENA $900 Million estimated cost as the “largest healthcare building $3.6 Billion estimated cost project in the United States,” $1.4 Billion estimated cost Project Neon is the largest public according to Health Facilities Manage- works project in Nevada history. The Las Vegas Medical District was ment. This +/-$1.6 billion project is The All Net Arena’s site is located on Costing $900 million to complete, this initially concieved in 2002 in order to located at U.S. 95 and Galleria Drive in the north end of the Las Vegas Strip project will widen 3.7 miles of created a cohesive area for medical Henderson, Nevada. Sitting on where the former Wet ‘n’ Wild site Interstate 15 between Sahara Avenue education and healthcare that was 228-acres, this mixed-use healthcare was once located (just south of the and the “Spaghetti Bowl” interchange central to the Las Vegas Valley. It is complex is projected to create more SLS Resort). Construction is in downtown Las Vegas. This is known currently undergoing a $3.6 billion than 17,000 direct, indirect and underway on this $1.4 billion project for being the busiest stretch of expansion which is inclusive of a UNLV construction jobs. Once fully complete and will consist of +/-860,000 square highway in Nevada with 300,000 Medical School. This district is in 2022, it is expected to attract feet once completed in 2019. vehicles per day (one-tenth of the expected to bring in $181 million in 15,000 to 30,000 people a day. Additionally, the All Net Arena will state population). Currently, this Government revenue, as well as 24,182 Henderson Hospital opened fall of include a 22,000 seat retractable corridor has approximately 25,000 jobs by 2030. 2016 and is located inside the Union roof, a Victory Plaza shopping/dining lane changes in an hour and it’s been Village development. Costing $168 district, and a 44-story hotel with 500 predicted that traffic will double along million to construct, this local specialty suites. this stretch by 2035. Project Neon has acute-care hospital is part of the an estimated completion date of 2019. Valley Health System.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 9 Mike Mixer, Executive Managing Director +1 702 836 3777 [email protected] 3227 CIVIC CENTER DRIVE, NORTH LAS VEGAS, NEVADA 89030

Dharmesh Patel Executive Managing Director , Hotels, USA +1 408 497 1222 [email protected]

COLLIERS INTERNATIONAL – INVESTMENT OFFERING