Experience
Acquisition of Privately-Held Company with Gaming Licenses
When a publicly-traded company sought to acquire a privately-held company whose assets included certain gaming vendor licenses across multiple jurisdictions, they turned to Dinsmore for assistance. Our attorneys worked closely with the client to provide counsel on the complex regulatory requirements encompassed by the transfer of the gaming licenses upon completion of the transaction. We also advised on the content and interpretation of four different jurisdictional gaming licensing schemes, including tribal agreements, to ensure the transaction would proceed successfully and without any disruptions to our client’s ongoing business.
Represented Investor Group in Purchase of Interest in Kentucky Racetrack
Assisted investor group with purchase of minority interest in Kentucky racetrack and advice on expansion of operations into historical horse racing machines (“HHR”) and the legality thereof. Negotiation of purchase agreement, shareholder agreement and management agreement. Provided counsel regarding licensing of owners of minority interest in the racetrack and successful representation before the Kentucky Horse Racing Commission. Provided ongoing corporate governance and pari-mutuel wagering advice throughout term of ownership.
Counsel to Private Equity Firm in $150 Million Dollar Financing of Kentucky Downs
Kentucky lender’s counsel and specialty (gaming and regulatory) counsel to private equity firm in $150 Million Dollar financing of purchase and redevelopment of Kentucky Downs racetrack and gaming operation. Review of corporate operating documents, term sheet, commitment letter, deposit account control agreements, credit agreements, guarantees, Kentucky mortgages and title work. Representation before the Kentucky Horse Racing Commission for regulatory approval of financing and securitization of gaming assets. Advised on the content and interpretation of Kentucky horse racing, pari-mutuel wagering, historical horse racing laws, and gaming changes, with regard to statutes and regulations.