December 02, 2016 3:47 PM ET

Hotels, Restaurants and Leisure

Company Overview of American Racing and Entertainment, LLC

Company Overview

American Racing and Entertainment, LLC owns and operates horse racing, casinos, resort, and gaming facilities in New York. The company owns Tioga Downs and Vernon Downs which operate as gaming and horse racing casinos. The company was founded in 2005 and is based in Nichols, New York.

2384 West River Road

PO Box 509

Nichols, NY 13812

United States

Founded in 2005

Phone:

607-699-3900

Fax:

607-699-3712

Key Executives for American Racing and Entertainment, LLC

Chief Executive Officer, Chairman, and Managing Partner
Chief Financial Officer
Chief Operating Officer, General Manager of Tioga Downs, General Manager of Vernon Downs Casinos, President of Tioga Downs and President of Vernon Downs Casinos
Director of Marketing
Compensation as of Fiscal Year 2016.

American Racing and Entertainment, LLC Key Developments

American Racing & Entertainment, LLC Raises $90 Million in New Senior Secured Debt Facilities; Plans to Complete Major Expansion of Existing Facility

American Racing & Entertainment, LLC announced that it has raised $90 million in new senior secured debt facilities consisting of an $80 million Delayed Draw Term Loan facility plus a $10 million Revolving Credit facility. The Facilities will enable the company to complete a $134 million expansion of Tioga, transforming the property into a full-scale casino and hotel offering the latest slot machines, table games and entertainment amenities. Once the Tioga Expansion is complete, Tioga will be the leading regional gaming destination in the Southern Tier of New York featuring an approximate 33,000 square foot casino offering 942 slot machines and 44 table games, a 161-room hotel, 3 restaurants, 3 bars/lounges, an approximate 6,500 square foot event/banquet center, spa and an 18-hole golf course and country club (located off-site). Construction of the new hotel and event center began in September and is expected to be finished in October 2017. Tioga was formally approved by the NY Gaming Commission for its casino license on August 30, 2016. Tioga is working closely with the NY Gaming Commission and its staff to complete the remaining steps required by law and regulations to convert the property into a full scale casino and looks forward to opening the property as promptly as possible.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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