United Gaming Reports New $75M Credit Facility And 4 Acquisitions

Posted On: 7/16/2019

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STOCKBRIDGE, GA - United Gaming LLC has announced its entry into a new $75 million senior secured asset-based credit facility, with Summit Partners (Boston, MA) acting as the single lender. The credit facility includes multiple draw options to facilitate UG's plans for future expansion.

"This facility was thoughtfully designed to fit our company's needs as we execute on our vision to transform UG into a growth company," said UG chief executive Bunty Doshi. "This asset-based loan structure will provide us with maximum flexibility to invest in coin-operated amusement machine routes, an approach that we believe will serve to strengthen the business on many fronts."

Founded in 2009, United Gaming is one of the largest private-sector Class B master licensees of coin-operated amusement machines in the state of Georgia. The company recently acquired the assets of four Class B routes, including Georgia Atlanta Amusements LLC; Amusements Stop LLC; Amusements Pro LLC and Liberty Vending Co. LLC. With the completion of these acquisitions and the benefit of additional pipeline growth, UG expects to nearly double the size of its operations.

According to the company, the Georgia coin-operated amusement machine industry is a highly fragmented end market with few players of meaningful scale. UG plans to allocate resources to identify and execute additional acquisition, with the goal of adding scale, improving service and further consolidating the state's high-yield coin-operated amusement industry.

Imperial Capital, Arbitrage Capital and Bennett Thrasher advised United Gaming in negotiating terms of the new credit facility. Rajiv Khanna and Robert Glentzer of Buchanan, Ingersoll and Rooney, Menden Frieman, and long-time counsel Paul Oeland served as legal counsel for the company.