Acquisition Strategy

WE TARGET

  • Profitable existing operations
  • Businesses requiring growth capital
  • Distressed or undercapitalized operators
  • Prime locations with inefficient operators
  • New locations based on proven concepts
  • Strategic joint ventures with experienced local operators

THE PLAYBOOK

1

Buy

2

Optimize

3

Expand

4

Distribute

Value Creation

  1. Acquisition Discount Acquire undercapitalized assets at favorable valuations.
  2. Operational Improvement Improve pricing, table/floor mix, marketing, staffing and utilization.
  3. Revenue Growth Increase traffic, VIP programs, events and partnerships.
  4. Platform Economies Centralize marketing, purchasing, management and administration.
  5. Expansion Deploy cash flow into additional proven locations.
  6. Exit / Recapitalization Sell assets, refinance, distribute cash flow, or sell the platform.

Proposed Portfolio Diversification

BY GEOGRAPHY

  • China — 30%
  • Hong Kong / Macau — 20%
  • Malaysia — 20%
  • Nigeria — 15%
  • Other — 15%

BY CONCEPT

  • Nightlife — 40%
  • Convenience Retail — 25%
  • Gaming — 20%

BY REVENUE TYPE

  • Entertainment Spend — 30%
  • Gaming — 20%
  • Food & Beverage — 20%
  • Convenience Retail — 20%
  • Hospitality — 10%