' Trump Taj Mahal 65x 6.6x 3/13/17 Casino Queen Lady Luck Marquette 40 7.5x 2/1/17 Z Capital Partners Allinity Gaming 580 8.4x 12/20/16 Boyd Gaming Cannery Casino 230 10.2x 7.2x 10/3/16 Red Rock Resorts Palms Casino Resort 313 12.5x 9/22/16 Boyd Gaming Aliante Casino 380 17.3x I2.7

3 January 2018 HY Corporate Credit HY Multi Sector.Media, Cable & Satellite Higher Yield for Higher Leverage Boyd Gaming We continue to expect Boyd will be able to generate significant free cash flow which will allow the company to reach its target leverage goal (betw