United Gaming Increases its Senior Secured Credit Facility to $820 Million; Closes on the Acquisition of Georgia's Third Largest COAM Operator; And Strengthens C-Suite

STOCKBRIDGE, Ga., April 21, 2023 /PRNewswire/ -- United Gaming L.L.C. ("UG" or the "Company") announces the recent completion of an increase in its existing credit facilities to $820 million together with the acquisition of substantially all the assets of LUCKY FORTUNE, LLC and STAR COIN, INC. which prior to their acquisition were the third largest COAM operators in Georgia. Through the consummation of these transactions, United Gaming has further strengthened its growth trajectory, expanded its incremental debt capacity, and increased its cash flow.

"Through these transactions, we have further financial flexibility to execute on our continuing consolidation roll-up strategy, while also remaining on track to maintain an exceptionally strong business and financial positioning. We believe that continuing to invest in the growth of our existing business will create the most long-term value", said Bunty Doshi – Founder and CEO, United Gaming.

The Company maintains its core strength of attracting experienced talent that understands the complexities of the COAM business to operate in a highly regulated industry which requires significant compliance and back-office management. Given the M&A nature of our business model, UG also invests in unparalleled market research, data analytics, and leverages its management skills when structuring deal terms.

UG currently operates a fully built ecosystem of ~7000 COAMS across ~1300 locations. The Company is passionate about operational metrics and is well established to operate in this volatile global economic environment to further enhance its performance.

In addition, after an extensive search process, UG is pleased to welcome Jason Flury as its Chief Financial Officer. Prior to joining United Gaming, Jason served as the CFO of one of the leading COAM operators in Georgia. Jason will leverage his operating and financial experience gained through his prior career in the investment banking industry further to develop both UG's operational strategy and overall corporate development.

StoneX Financial Inc. served as Exclusive Financial Advisor to UG with respect to the acquisition of LUCKY FORTUNE, LLC and STAR COIN, INC. William Wilson, Managing Director, and Head of Debt Capital Markets at StoneX, commented, "It was as always, a pleasure to work with Bunty and the amazing team he has put together at United Gaming. The successful consummation of both the credit facility upsize and the acquisitions makes United Gaming the undisputed leader in the Georgia COAM market. We are so excited about the opportunity set going forward for United Gaming."

Media contact:
Victoria Wade
678-782-6969

SOURCE United Gaming

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