Announces Closing of Refinancing Transactions
Summary
The Company and the investor continue to work toward consummating the Notes Exchange promptly.The Company also expects to enter into a new, five-year $250 million senior secured revolving credit facility with a syndicate of banks (the New Senior Secured Credit Facility). Entry into the New Senior Secured Credit Facility is also a condition to the release of the escrowed Notes proceeds.If the conditions to the release of the escrowed Notes proceeds occurs, the Company will apply the net proceeds from the Offering and borrowings under the New Senior Secured Credit Facility, together with cash on hand, to fund the redemption and repayment of its outstanding 8.000% second priority senior secured notes due 2026 and all loans outstanding under its previous revolving credit facility, and to pay related fees and expenses. Such statements may include information relating to whether the conditions to the release of the escrowed proceeds of the Offering will be satisfied, whether the Notes Exchange will be consummated, whether the Company will enter into the New Senior Secured Credit Facility, business development activities, as well as capital spending, financing sources, the effects of regulation, including gaming and tax regulation, and increased competition. These statements can sometimes be identified by our use of forward-looking words such as may, will, anticipate, estimate, expect or intend and similar expressions. We do not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances.