Danville Development, LLC dba Golden Nugget Danville
Overview
| Deal Type |
Debt Capital Markets |
|---|---|
| Size |
$50 Million Senior Secured Credit Facilities |
| Client & Transactional Partners |
Danville Development, LLC dba Golden Nugget Danville |
| Our Role |
Administrative Agent Left Lead Arranger Sole Bookrunner |
Summary
On April 14, 2022, KeyBanc Capital Markets (KBCM) successfully closed on the syndication of $50 million Senior Secured Credit Facilities (the Credit Facilities) for Danville Development, LLC dba Golden Nugget Danville (the Company), consisting of a $5 million Revolver and a $45 million Delayed Draw Term Loan A. Proceeds from the Credit Facilities will be used to finance the Company’s development of a new $100 million casino and fund ongoing working capital needs. KBCM served as Left Lead Arranger, Sole Bookrunner and Administrative Agent on the transaction.
Located in Danville, Illinois, the casino will feature a 41,500 square foot gaming floor with 480 slot machines, 14 table games, two restaurants, including a Saltgrass Steak House, and a sports bar and sportsbook. The Company will also offer an online gaming and digital sports betting platform through DraftKings. The casino is expected to open in March 2023 following a 12-month construction period.
