Credit Suisse Arranges Financing for Jacobs Entertainment
Jacobs Entertainment, Inc. announced that it completed a $350 million financing (including a $50 million revolving credit facility) with the right to incur an additional $50 million under certain conditions.
Jacobs Entertainment was able to take advantage of favorable credit market conditions to successfully refinance its existing debt (including its $210 million of 9 3/4% senior notes due 2014), provide ample liquidity for operations and position itself to grow organically and through opportunistic acquisitions.
Credit Suisse Securities (USA) was the lead arranger and bookrunner for the transaction.
Based in Golden, CO, Jacobs Entertainment is the owner and operator of The Lodge Casino at Black Hawk and the Gilpin Hotel Casino, both located in Black Hawk, Colorado; the Gold Dust West-Reno in Reno, Nevada; the Gold Dust West-Carson City in Carson City, Nevada; the Gold Dust West-Elko in Elko, Nevada (the casino properties); Colonial Downs Racetrack in Virginia and related off-track wagering facilities; and 23 video poker truck stops located in Louisiana.