United Gaming Announces the Expansion of its Current Credit Facility to $650 Million
Continues to Grow in Georgia COAM Market with Twenty-Eight Acquisitions
STOCKBRIDGE, Ga.–(BUSINESS WIRE)–United Gaming LLC (the “Company” or “UG”), announced today that it has recently entered an amendment to upsize its current senior secured $250 million multi-draw facility to $650M (the “Credit Facility”) 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
About United Gaming
United Gaming, founded in 2009, is the leading, best-in-class Georgia-based distributed gaming company. Now the largest operator of Coin Operated Amusement Machines (“COAMs”) [measured by all metrics] in the State of Georgia (“GA”), UG has acquired and actively holds seventeen Master Licenses and operates approximately 4,700 COAMs in roughly 900 locations throughout the State. UG has targeted additional acquisitions in the near-term which it anticipates will add to these totals.
“UG has a long-term mission to create the highest value and best experience for all stakeholders through business expansion, maintaining robust teams and continuous optimization. Our core strategic values of automation, simplicity, team-work and innovation are embraced across our organization” – Senior Advisor, Anish Doshi.
UG is creating a dedicated management team to further position it to pursue organic and acquisition-based growth opportunities for expansion in other markets. This year, the company welcomed Michael Karamat as its General Counsel and Sean Donaghy as its Director of Finance. UG is strongly involved in legislative efforts and engages with five contract lobbyists for continuous improvement to the distributed gaming industry.
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.
Contacts
Pete MacBeth, United Gaming, LLC
Media Relations
+1 (404) 376-5604
[email protected]
