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United Gaming Upsizes Current Credit Facility to $650MM

December 06, 2021, 07:00 AM
Filed Under: Gaming

United Gaming, the largest operator of Coin Operated Amusement Machines ("COAMs") [measured by all metrics] in the State of Georgia ("GA"), entered an amendment to upsize its current senior secured $250 million multi-draw facility to $650M in a syndicated transaction with a New York based investment group acting as the lead agent. The Credit Facility includes incremental committed borrowing available for immediate future expansion. The use of the proceeds from the upsizing included, acquisitions, capital expenditures, and general corporate purposes.

"Simultaneously with the closing of the Credit Facility, UG acquired the assets of Global Arcade, Summit Amusement, Aradhana, Shivsena Gaming, and Roshan Foods. These five recent acquisitions complement UG as it maintains the largest COAM platform with high-quality, long-term gaming sites in GA. The addition of the recent acquisitions provides an immediate 50% increase in the scale of our business in a resilient, fast-growing market, and creates further opportunities to meet our customers' needs. We will remain disciplined and open for the opportunities we see in front of us." - Bunty Doshi, Founder and CEO of United Gaming.

"Bunty recently was appointed by Lieutenant Governor to serve on the Georgia Lottery Corporation's COAM advisory board to examine regulations and facilitate industry growth. The fragmented COAM market in GA presents a long runway of consolidation opportunities for UG to build scale, and better serve our customers." – Paul Oeland, Chief Strategy Officer.

"As we increase our statewide presence, we will continue to offer the highest value service to our customers and their needs through our five statewide satellite offices and service centers." -Ashish Patel, Vice President of Service

United Gaming was assisted in the negotiations and arrangement of the upsizing of the Credit Facility by its exclusive financial advisor, Imperial Capital, LLC, and was represented by the law firm of Paul Hastings LLP.

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