Gun Lake Casino
Overview
| Deal Type |
Debt Capital Markets |
|---|---|
| Size |
$150 million Senior Secured Credit Facilit |
| Client & Transactional Partners |
Gun Lake Tribal Gaming Authority |
| Our Role |
Joint Lead Arranger Joint Bookrunner Administrative Agent |
Summary
On May 2, 2022, KeyBanc Capital Markets (KBCM) successfully closed on the syndication of a $150 million Senior Secured Revolving Credit Facility (the Revolver) for Gun Lake Tribal Gaming Authority, a wholly owned instrumentality of the Match-E-Be-Nash-She-Wish Band of the Pottawatomi Indians. Proceeds from the Revolver will be used to refinance existing indebtedness, finance certain construction projects and fund working capital needs. KBCM acted as Joint Lead Arranger, Joint Bookrunner and Administrative Agent on the transaction.
Match-E-Be-Nash-She-Wish Band of the Pottawatomi Indians of Michigan Tribe is a federally recognized Indian tribe with over 575 enrolled members. Its primary reservation is ~1350 acres and is in southwestern Michigan, approximately 25 miles south of Grand Rapids and 27 miles north of Kalamazoo.
Gun Lake Casino, established in 2011, is a premiere gaming and entertainment destination in Wayland, Michigan. Following its most recent expansion in 2021, the Casino offers over 200,000 square feet of gaming space and includes over 2,500 slot machines, 49 table games and a sportsbook. The property also features eight food and beverage outlets including the 300-seat Harvest Buffet, 131 sports bar and lounge, CBK Brewpub and Shkodé Chophouse, as well as a live music venue.
