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DEVELOPMENT HA I N PLAIN
<br />Pursuant to the Portsmouth Entertainment District Development Agreement
<br />(' °€e eela ,Merit r erect tenf°) entered into by and between the Econornic Development Authority
<br />of the Cite of Pcirtsmotath, Virginia {;,FDA ") and Portsmouth Gaming Holdirntios, LLC �'PGI-1 ") on
<br />May 26 2(020, PGH intends to davhp its casino project in phases, as shown on tilt concept >,aal
<br />phasing plan attached as Exhibit A.
<br />Pursuant to the DcVelopirne€ t Ag ecracnt, Pt H ;Malls In, develop tilt: a "ro'e -'a 1'1 phases
<br />t tr ial i'tai he W ph aw €4',Wc Prof .t %\ Ji ,,i W a cas; gar tang ;: taa l=shrient, even!
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<br />i iu; i 1, $*3 W , !:peon vic 05 s'. d1 a ,-,. E; ,,.?odd, 21 oic 1.',4.1 ,> i! l C,y, ?and in,
<br />.e _;nc ` ignaga t oze.,e..._,., to _ n il Wd ZAMuM siginge inna, inn .u_ ,? °4k.t €a, k._
<br />C a r>$,.,t! e ,,,':"`'s a.° t?.: le €.ieC.. NP: %".I I ?o o M.., :ve „_ 3. i tua4;m.. t.. in ?a.. rEILa.. of ,.,'.12,
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<br />,yto . i; Phasc 4,t 3-, te: ,_ §`. ,. ,..viE ..00 upcn 03 ,, all . 2021
<br />a1 ?e tie,.urd phase a.. ma . i.'.jew +3;ai i(n,.EL& .< fuli .st:rvicc isa' -.Lt t -L�Lia'q -1 "yo
<br />s1TW21110010 In accordance vvi l; the Development A`i'acriinem, PG1 l plans to c; ?.rriniencte
<br />d vOuping the Phase Two im;:e =o eii°ums wi•,hin one .', l ) yew after the occurrence of any of the
<br />lollov,in (1"" lacil -l'i inet garning re:"vmw e:4(eas Si 75 ritiWon during a co nSccut €ie tSt';'<Ne ii umb
<br />Woo and a casino located v6tlnin Re en N 5 miles is open to thfc public during the entire Ivv, -,lVe
<br />i": nih perfod. cw (b) PC33F s net gaming r +a ve3nue exceeds 250 million during each of vvo
<br />''.i'. ccdi .'.. co3 soc to c nvive nnxth pebods. N,> aiti,.,..',. Jim: tlnM fe r= inn WPM
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<br />.f u:��'..,. .... ... <, e.1, 3, >_„d how: .�,, ,ri. ;.�„„ . {� �,, x,. .izes a' =a �. dci .,> 7 4.'l�gYs
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<br />cast . casine u en i to Ila QW, Men PCT . , ,3 r ajues id by l e i DA, vincr ntai as g m nmd jwsw whl'
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