Dover Downs extends credit facility maturity, modifies borrowing limit

By Marisa Wong

Morgantown, W.Va., Sept. 17 – Dover Downs Gaming & Entertainment Inc. amended its credit agreement dated June 17, 2011 to extend the maturity date to Sept. 30, 2016, according to an 8-K filing with the Securities and Exchange Commission.

The company also adjusted the maximum borrowing limit to $45 million as of Sept. 14 and to $40 million as of March 31, 2016.

In addition, the company made changes to the maximum leverage ratio, minimum consolidated tangible net worth requirement and minimum consolidated EBITDA requirement.

The company completed the amendment on Sept. 14.

Dover Downs is a Dover, Del.-based operator of gaming and entertainment company.

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