SOURCE: Jacobs Entertainment, Inc.
GOLDEN, CO--(Marketwire - Oct 29, 2012) - Jacobs Entertainment, Inc. ("Jacobs Entertainment") announced today that it completed a $350,000,000 financing (including a $50,000,000 revolving credit facility) with the right to incur an additional $50,000,000 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) LLC was the Lead Arranger and Bookrunner for the transaction. Questions regarding transaction may be directed to Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll free) or (212) 538-2147 (collect).
About Jacobs Entertainment
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.
Certain statements contained in this release are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Among these risks and uncertainties are our ability to refinance our existing indebtedness on satisfactory terms and conditions, the intensity of competition, our ability to meet debt obligations, regulatory compliance, taxation levels, effects of national and regional economic and market conditions, labor and marketing costs, success of our diversification plan and the successful integration of our operations and other factors, all of which are described in the Company's most recent annual report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the Securities and Exchange Commission. The Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.