Wilton Rancheria Gaming Authority

Overview

Deal Type Debt Capital Markets
Size $1.15 Billion
Senior Secured Credit Facilities
Client & Transactional Partners Wilton Rancheria
Sky River Casino
Our Role Joint Lead Arranger
Joint Bookrunner

Summary

On October 7, 2024, KeyBanc Capital Markets Inc. (KBCM) successfully closed the syndication of new $1.15 billion Senior Secured Credit Facilities (the Credit Facilities) for Wilton Rancheria Gaming Authority, an unincorporated governmental instrumentality of Wilton Rancheria (the Tribe), which was established to develop, construct, and operate Sky River Casino (Sky River or the Casino). The Credit Facilities consist of a $200 million Revolver, $500 million Term Loan A, and $450 million Delayed Draw Term Loan. The Credit Facilities will be used to refinance existing indebtedness, finance the Phase II expansion of Sky River Casino, fund working capital and general corporate purposes, and pay transaction fees and expenses.

The project includes a new 300-room resort hotel, parking garage with more than 1,600 spaces, 400 additional slot machines, meeting space and event center, resort pool and spa, café, lobby bar, hotel room service, and atrium. KBCM acted as Joint Lead Arranger and Joint Bookrunner on the transaction.

About Wilton Rancheria 
Wilton Rancheria is a federally recognized sovereign Indian nation with more than 1,000 enrolled members. The Tribe occupies ~36 acres of trust land in Elk Grove, California, and was federally recognized in 2009, with its constitution being ratified in 2011.

About Sky River Casino
Sky River Casino is the closest gaming property to downtown Sacramento and offers a wide variety of gaming and non-gaming amenities and entertainment. The casino features 110,000 square feet of gaming space, 2,100 slot machines, 81 table games, and a high-limit area including a private VIP salon. Gaming at the Casino is complemented by 19 unique food and beverage options, including the Rock Bar, 32 Brews Street, and SR Prime. The Casino is managed by Boyd Gaming.

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., Member FINRA/SIPC (“KBCMI”), and KeyBank National Association ("KeyBank N.A."), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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