Extensive Gaming Industry Experience

Over the past 20 years, Milbank has played a key role in transactions involving numerous gaming companies, including Station Casinos, Tropicana Entertainment, Eldorado Resorts, Majestic Star, the Seminole Tribe of Florida, Trump Casinos, Horseshoe Gaming, Isle of Capri, Herbst Gaming, Silverton Casino Hotel Resort, Casino Magic, Harveys Casino Resorts, Lady Luck Hotel Casino, Hollywood Casino, President Casinos, Stratosphere, Goldriver and Riviera.

Members of our Gaming & Hospitality Group routinely represent both U.S. entities active in offshore real estate investments, and foreign investors active in the U.S. real estate market, and are involved in transactions for land-based, riverboat, dockside and Native American casinos and resorts in established and emerging gaming markets.

Our recent notable transactions include the following:

• Representation of Fertitta Colony Partners in its $5.4 billion acquisition of Station Casinos. The transaction was a management-led buyout sponsored by Colony Capital Partner. Financing for the transaction included the issuance of approximately $2.4 billion of CMBS debt and $900 million of senior bank debt, as well as the assumption of $2.3 billion of existing high yield debt.

• Representation of Tropicana Entertainment in its $2.1 billion acquisition of Aztar Corp. The transaction was the result of a competitive auction process. Financing for the transaction included the issuance of approximately $2 billion of senior bank debt, $1 billion of high yield debt and a $440 million land loan.

• Representation of Station Casinos in joint ventures to finance, develop and operate the $600 million Aliante Station hotel and casino project in North Las Vegas and the $300 million Green Valley Ranch hotel and casino project in Summerlin, Nevada.

• Representation of Station Casinos in a joint venture with The Auburn Nation to finance, develop and operate the $200 million Thunder Valley gaming facility on tribal land near Sacramento, California.

• Representation of the underwriters in high yield debt offerings for the Isle of Capri, Eldorado Resorts, Casino Magic and Horseshoe Gaming.

• Representation of Tropicana Entertainment in the sale of Aztar in Evansville, Indiana and The Tropicana in Atlantic City, New Jersey.

• Representation of the underwriters in high yield offerings of second lien notes for Hard Rock Hotel and Silver Legacy Hotel and Casino.

• Representation of the bondholders committee in the bankruptcy of Hollywood Casino – Shreveport and the sale of the property to an affiliate of Eldorado Resorts.

• Representation of the bondholders committee in the bankruptcy of Trump Casino Holdings.

• Representation of creditors committees in restructurings of President Casinos and Stratosphere Corporation.