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Casino Queen Closes Lady Luck Acquisition

News Releases
3.16.17

Husch Blackwell represented Casino Queen and its parent company CQ Holdings Company, Inc. in its $40 million acquisition of Lady Luck Casino Marquette, an Iowa-based riverboat casino, from Isle of Capri Casinos Inc. The deal was announced in October 2016 and closed earlier this week. It was Casino Queen’s first acquisition since being purchased by its employees through an employee stock ownership plan in 2012, becoming the first-ever large casino operation owned by its employees.

Husch Blackwell counseled Casino Queen throughout the deal process, from due diligence and negotiation of the purchase agreement to corporate finance. The firm assisted Casino Queen with a $55 million secured loan and a $13 million unsecured loan that were used to fund the acquisition and to restructure an existing credit facility.

The Husch Blackwell team was led by Chris Hamlin and Chris Rockers and included Frans von Kaenel, Genni Zimmer and Mary Hannah.