Citizens Capital Markets & Advisory served as the sole lead arranger of a $390 million debt financing for River Rock Entertainment Authority, the gaming authority of the Dry Creek Rancheria Band of Pomo Indians. The financing is anchored by a commitment from Gaming and Leisure Properties, Inc. as lead real estate financing partner.

The financing will be used to transform the Tribe’s existing River Rock Casino into a world-class destination-style resort casino that will be managed by Caesars Entertainment under the Caesars Republic banner, set to open in summer 2027.

“Citizens was an invaluable financing partner throughout the process, providing expertise and guidance every step of the way on this unique financing structure bringing together GLPI, other tribes, and traditional gaming investors,” said Chris Wright, Dry Creek Tribal Chairman. “We look forward to continuing our collaboration as we bring this exciting project to life.”

“The Citizens team is a longtime partner of GLPI and played a key role in helping us navigate and arrange this financing,” said Steven Ladany, Senior Vice President and Head of Corporate Development at GLPI.  “Their work in crafting a structure that integrated real estate financing with traditional institutional debt was thoughtful and collaborative, and we are excited be a partner on this noteworthy opportunity in a prime location.”

“Dry Creek Rancheria and Caesars are creating a premier gaming destination in Sonoma County,” added Jason Miller, Head of Real Estate, Gaming, Leisure, and Digital Investment Banking at Citizens. “With Citizens’ growing presence in California and our leading gaming sector expertise, we were able to creatively structure and partner with Caesars and GLPI to establish a strong foundation for the Tribe’s long-term success.”