GOLDEN NUGGET HOTELS & CASINO SUBMITS PROPOSAL FOR $400 MILLION DEVELOPMENT IN RICHMOND, VIRGINIA

950,000-square-foot Hotel & Casino to create 1,200 jobs and donate $70+ million within the Richmond community

HOUSTON – February 24, 2021 – Tilman J. Fertitta, owner of Golden Nugget Hotels & Casinos, announces today its submission to expand the Golden Nugget brand into the Virginia market, developing a $400 million Golden Nugget Richmond Hotel & Casino, donating over $70 Million to the Richmond Community and creating over 1,200 jobs for the city.

The preferred location for Golden Nugget Richmond Hotel & Casino is within the City of Richmond and is located six miles from Downtown and 20 miles from Richmond International Airport. They are in active negotiation with multiple land owners and are additionally prepared to evaluate sites owned by the City of Richmond Redevelopment Authority in an effort to enhance and optimize economic development opportunities for the City of Richmond.

“We operate five, world-class Golden Nugget properties nationwide, each receiving numerous industry accolades,” said Tilman J. Fertitta. “No other competing casino brand has our level of expertise in operating and developing luxury resorts and casinos in multiple markets across the country from Las Vegas and Atlantic City to Lake Charles and Biloxi. We know the right size of a casino for every city, and we have the resources to create a quality entertainment experience like no other. This property will offer first-class accommodations with an expansive casino floor and outstanding restaurants; and I can assure you this will be where people want to play, stay and enjoy themselves. Moreover, we will not be in competition against ourselves with any of our other properties. Also, unlike others, our project is designed not to compete against local area Richmond businesses. Richmond is where we want to be.”

Golden Nugget Richmond will be one of the most luxurious gaming resorts with nearly 950,000- square-feet of entertainment. The development would be completed within approximately 36 months after approval and will contain: • 177 luxury hotel rooms including 37 suites • More than 93,000-square-foot, state-of-the-art casino floor with 1,900 slot machines, 92 table games, and 8 poker tables • A 16,000 square-foot events center and 1,500 seat concert venue • Four retail outlets which will include local MBE participation • Six signature restaurants, including Morton’s The Steakhouse, Dos Caminos, Bill’s Bar & Burger, , and Bean & Bread plus the option to include additional local dining favorites and will include MBE participation ---MORE--- • A Blue Martini lounge area for nightlife and live music • One-of-a-kind H2O pool complex with lazy river and private cabanas

Lorenzo Creighton, a highly-experienced and nationally-respected African-American casino industry leader, will serve as one of the top executives for Golden Nugget Richmond. “I am extremely honored to be a part of the Golden Nugget family. We are committed to delivering a best-in-class destination resort and truly understand how to build a quality product that will exceed expectations while finding diverse and qualified minority contractors and vendors. With my 25+ years of experience, including developing and leading the MGM National Harbor project, I strongly believe collaborating and engaging with local diverse organizations is critical to our long-term success.”

The project team would include KdG, project architect; Salas O’Brien, project engineer; Richmond- based Whiting Turner, general contractor; and McKissack &McKissack, project and construction manager.

Golden Nugget is in the process of going public through a merger with a special purpose acquisition company. Golden Nugget has the funds on hand and will develop the project without any financial support from the City. There is no financial risk that the project will not be built. Moreover, Golden Nugget will not seek any financial concessions from the City.

Richmond Community Engagement Plan

A comprehensive community engagement plan is Golden Nugget’s top priority to not only ensure that the future Richmond Casino referendum successfully passes, but that the ongoing operations and business of the Golden Nugget Hotel and Casino Resort continues to benefit the Richmond community.

• Virginia Based Minority Equity Ownership Participation. Golden Nugget has formed a partnership with a 100% African-American and Hispanic-American owned company that is SWaM (Small, Woman-owned and Minority-owned) Certified representing 5% of the economic interest in the project. Golden Nugget is also seeking additional Richmond-based minority partners for an additional 5% equity ownership in the project.

• Casino Restaurant Ownership Opportunity for African Americans. Golden Nugget will offer local chefs and restaurant owners from diverse communities the opportunity to become 30% Joint Venture Partners in brand name restaurants inside the Casino.

• $60 Million Donation to the Richmond Public School System. Outside of its initial proposal, Golden Nugget will also make a $60 Million donation to the Richmond Public School System to assist with the efforts of improving the quality of education for all Richmond’s children, as well as providing bonuses and incentives to the teachers of Richmond once the Golden Nugget is chosen as the Preferred Casino Operator by the City and passage of the Citywide referendum.

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• $10 Million Donation to The Richmond Affordable Housing Trust Fund. Golden Nugget will make a $10 million donation to the City of Richmond Affordable Housing Trust Fund once Golden Nugget is chosen as the Preferred Casino Operator by the City and passage of the Citywide referendum.

• $1 Million Donation to Virginia Union University. Golden Nugget will donate $1 million to The Virginia Union University HBCU Fund upon being chosen as the Preferred Casino Operator by the City and passage of the Citywide referendum. Golden Nugget will also make a $100,000 annual donations to Virginia Union University following the casino opening.

• $30,000 Donation to Metropolitan Business League. Golden Nugget will support Richmond based minority owned companies by donating $30,000 to the historic Richmond based Metropolitan Business League that will be used to award three $10,000 grants to Small, Women owned and Minority owned Businesses in Richmond.

• African American-owned Project Professional Initiative. Golden Nugget intends to hire experienced and reputable African-American owned businesses to provide certain aspects of the outside professional support for the project, including design, project management, marketing, and other areas.

Local Partnerships

Once selected, winning bidder, Golden Nugget will promptly activate its community engagement plan engaging a number of local, long-term partnerships.

Richmond Virginia Minority Business Enterprise (MBE) Participation. Golden Nugget has agreed to contribute five (5%) percent of the equity ownership in the casino project itself between two Virginia MBE certified entities whose ownership includes Virginia resident and real estate developer Dennis Cotto along with Richmond Virginia Resident, and former Virginia Lottery Director, Richard Williams. Moreover, to encourage further community outreach and support, Golden Nugget will seek local area minority investors for up to another five (5%) percent in the casino project itself and for up to thirty (30%) percent each in two (2) casino/hotel restaurants and retail outlets.

Virginia Sports & Technology Group (VSTG) was created to cultivate and support the inclusion of Virginia’s Black, Indigenous, and People of Color (BIPOC) community within the state’s recent new gaming expansion initiatives. Prior to participating in the Richmond brick & mortar casino project, VSTG and Golden Nugget previously joined forces to apply for one of Virginia’s coveted online sports betting licenses. As part of that online application, the Golden Nugget-VSTG joint venture has already committed to hiring, and/or engaging with, Virginia BIPOC and MBE marketing talent, as well as annually sharing profit from the online business through annual donations to Virginia’s Historically Black Colleges & Universities (HBCUs). Upon completing the online application, Golden Nugget and VSTG next turned their focus toward the Richmond, Virginia Casino RFP. Upon Richmond’s selection of Golden Nugget as the winning candidate, combined with the successful passing of the November referendum, as compensation for VSTG’s ---MORE--- efforts and ongoing commitment and participation in local community outreach programs, and its administration of the annual Golden Nugget Richmond HBCU philanthropic initiatives, VTSG will earn a three percent (3%) equity stake in the Richmond Casino project. As part of this equity stake, VSTG will not be required to risk any of its own capital, and will be entitled to a profit share that can be no less than $180,000 per year once the Casino property opens to the public.

“I am delighted to partner with the Golden Nugget Casino,” said Rich Williams, President of the Virginia Sports Technology Group, a 100% minority-owned firm. “I’ve been a part of the Greater Richmond Community for the last 50 years, serving on the Governor’s Civil Rights Memorial Committee, the NAACP, the Urban League of Greater Richmond, the Richmond Crusade for Voters and the University of Virginia’s Richmond Ridley Scholarship Committee; and I look forward to providing internships, scholarships, jobs and workforce training for minorities to earn a living wage.”

Bet on Gaming Holdings, LLC (BOGH) was also created to ensure that Virginia BIPOC communities and talent are also included in the process of procuring and developing real estate ventures associated with Virginia’s newly licensed gaming initiatives. Again, upon Richmond’s selection of Golden Nugget as the winning candidate, combined with the successful passing of the November referendum, as compensation for BOGH’s boots on-the ground participation in helping Golden Nugget identify, procure and develop the proposed Richmond resort casino site, BOGH will earn a two percent (2%) equity stake in the Richmond Casino project. In connection with its equity stake, BOGH will not be required to risk any of its own capital, and will be entitled to a profit share that can be no less than $120,000 per year once the Casino property opens to the public.

“As a Virginia based minority owned company and an affordable housing developer, I’m proud of our partnership with Golden Nugget and our thoughtful proposal to the City of Richmond and its community,” said Dennis Cotto, Principal of Bet on Gaming Holdings, LLC. “It’s not just about how much money someone will throw at this opportunity. Our approach will make a meaningful and sustainable investment and impact on the Richmond Community.”

Open Investment Opportunity to Richmond’s BIPOC Community. As a goal to include the Richmond’s capital investing community in the proposed casino project, Golden Nugget owner, , is creating an opportunity for Richmond BIPOC individuals to invest and obtain, in aggregate, up to a 5% equity interest in the resort casino itself, as well as up to a 30% equity interest in no less than two restaurant and retail businesses located within the casino/hotel property.

ABOUT - Golden Nugget Las Vegas is the most luxurious resort on the Downtown Fremont Street Experience, and was recognized by USA Today’s “10 Best” as one of the top casinos in the area. Critically-acclaimed for its exceptional customer experience, Golden Nugget boasts more than 2,400 recently renovated deluxe guestrooms and suites; a high-energy casino featuring the most popular slot and video poker machines, table games, race and sports book, and poker room; world- class restaurants such as Chart House, Grotto Italian Ristorante, Vic & Anthony’s Steakhouse, Lillie’s, Claim Jumper, Cadillac Mexican Kitchen and Tequila Bar, as well as casual eateries including Chick-fil-A and Starbucks; a luxury spa and salon; The Tank, the resort’s outdoor swimming pool complete with a 200,000-gallon live shark aquarium and the H20 poolside lounge; four retail shops specializing in fine jewelry, boutique fashion, accessories artisan chocolate, and souvenirs; technology-rich convention and group meeting space and on-site wedding chapel; and nightlife hot ---MORE--- spots include Rush Lounge and Troy Liquor Bar, Fremont Street’s only nightclub. Hotel reservations and additional information are available by calling 800-634-3454 or by visiting online at www.goldennugget.com.

ATLANTIC CITY - The Golden Nugget Casino, Hotel & Marina, located on the Frank S. Farley Marina is a premier resort destination, offering guests 716 luxury guest rooms and suites. The entire property takes on a fresh, modern look and includes a high-energy casino featuring the most popular slot and video poker machines, table games, poker room, and over 700 iGames; nightly entertainment, bars and lounges, stylish retail offerings, as well as Landry's signature world-class restaurants such as Chart House and Vic & Anthony's Steakhouse; a luxury six million dollar spa and salon and H20 poolside lounge. Landry's Inc. successfully introduced first-class accommodations, exquisite dining options and fun-filled entertainment venues unlike anything else available in Atlantic City with the Golden Nugget Casino, Hotel & Marina. The Golden Nugget has strong brand recognition worldwide with locations in both Las Vegas and Laughlin, NV, Biloxi, MS and Lake Charles, LA.

LAKE CHARLES - Located only two hours from , , Golden Nugget Lake Charles features 1100 luxury hotel rooms and suites; an 18-hole championship golf course; extensive retail options; an 18,000-square foot ballroom; 30,000 square feet of meeting space; a two-acre pool and lazy river complex; a private beach front and marina; and a number of Landry’s signature restaurants including , Vic & Anthony’s Steakhouse, Landry’s Seafood House, Bill’s Bar & Burger and more. An innovative casino floor featuring more than 75 table games, a high limit salon, a poker room, and 1,600 of the industry’s newest slot machines redefines the gaming experience. Please visit goldennuggetlc.com for more information.

LAUGHLIN – The place for down-to-earth fun, is a hotel-casino located on the banks of the , near the Arizona and California borders, in Laughlin, . The resort features innovative dining options, stylish guest rooms, convenient amenities, live entertainment, distinctive event venues and some of the hottest gaming action in Laughlin – all accented with personalized service and hospitality that have earned the hotel and casino many accolades. The casino features slot and video poker machines, table games, live keno and a complete race and sports book. The resort’s incredible restaurants include Claim Jumper, Saltgrass Steak House, Bubba Gump Shrimp Co., The Deli and Bean & Bread. Guests can also enjoy luxurious, private cabanas overlooking the Colorado River, retail options featuring latest fashions and exciting nightlife at Gold Diggers. For more details, please visit www.goldennugget.com/laughlin.

BILOXI - Golden Nugget Biloxi, located on the Gulf of Mexico, is a premier resort destination, offering guests more than 700 rooms and suites. The entire property recently underwent a $100 million renovation taking on a fresh, modern look which includes a high-energy casino featuring the most popular slot and video poker machines, table games, poker room and sports book; live entertainment, new bar and lounge, a stunning pool with swim-up bar and poolside blackjack, as well as Landry’s signature world-class restaurants such as Morton’s The Steakhouse, Bubba Gump Shrimp Co., Michael Patrick’s Sports Bar and Grill, and Lillie’s Asian Cuisine. Golden Nugget has further introduced first-class accommodations, exquisite dining options and fun-filled entertainment venues unlike anything else available in Biloxi. For more details, please visit www.goldennugget.com/biloxi.

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ABOUT , INC. Fertitta Entertainment, Inc. is Tilman Fertitta’s holding company for substantially all of his assets, including all of the equity in Golden Nugget, LLC and Landry’s, LLC, hotels, real estate, and other investments, including the NBA’s . Golden Nugget/Landry’s is a multinational, diversified gaming, restaurant, hospitality, and entertainment company based in Houston, Texas. The Company’s gaming division includes the renowned Golden Nugget Hotel and Casino concept, with locations in Las Vegas and Laughlin, NV; Atlantic City, NJ; Biloxi, MS; and Lake Charles, LA. Entertainment and hospitality divisions encompass popular destinations including the . The Company also operates more than 500 outlets, including over 400 high-end and casual dining establishments around the world, with well-known concepts such as Mastro’s, Del Frisco’s, Landry’s Seafood House, Bubba Gump Shrimp Co., , Morton’s The Steakhouse, The Oceanaire Seafood Room, McCormick & Schick’s Seafood, Chart House, Joe’s Crab Shack, and Saltgrass Steak House. Landry’s also operates the popular New York BR Guest Restaurants such as Dos Caminos, Strip House and Bill’s Bar & Burger.

It was announced on February 1, 2021 that FEI, the indirect parent company of Golden Nugget, LLC and Golden Nugget, is in the process of becoming a public company via a merger with Fast Acquisition Corp., which is a publicly traded special purpose acquisition company (also known as a “SPAC”). The merger is expected to close in the second quarter of 2021. Following the closing of the transaction, Golden Nugget and GNVA will continue to be controlled by Tilman J. Fertitta. Mr. Fertitta will serve as the Chairman, President and CEO of the newly publicly traded company, and remain the public company’s largest shareholder with nearly 60% of all of the outstanding shares.

MEDIA CONTACTS: Dancie Perugini Ware Public Relations Lorenzo Creighton, Golden Nugget Casino Dancie Perugini Ware, [email protected] [email protected] Katelyn Gosslee, [email protected]

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