Monarch Casino to get new revolver to fund $76 million acquisition

By Angela McDaniels

Tacoma, Wash., Sept. 30 - Monarch Casino & Resort, Inc. plans to fund its acquisition of Riviera Black Hawk, Inc. with a new revolving credit facility, according to a company news release.

Monarch said the terms of the new facility will be materially consistent with its existing credit facility.

Wells Fargo Bank will lead the syndication process.

The company plans to buy Riviera Black Hawk from Riviera Operating Corp. and Riviera Holdings Corp. for $76 million, which includes $2.1 million of working capital.

The companies expect the transaction to close before the end of the second quarter of 2012.

Monarch owns the Atlantis Casino Resort Spa in Reno, Nev. Riviera Black Hawk is a casino located in Black Hawk, Colo.

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