Skip to Main Content

Casino ESOP Transaction First in Gaming Industry


Related Service:

Case Study


The Casino Queen in East St. Louis, Ill., sought a bold path for the future. Its 21 shareholder owners wanted to sell the casino to its 700 workers through an employee stock ownership plan.


We represented the company in this industry-first transaction in all aspects of obtaining syndicated credit facilities to finance the $170 million purchase. The credit facilities were two branches of secured debt and two branches of unsecured subordinated financing. We also led creation of the ESOP and closing of all related transactions.