Haynes and Boone Advises Landry’s and Golden Nugget in Refinancing

09/26/2017

Haynes and Boone, LLP advised Landry’s, Inc. and Golden Nugget, Inc. in a multibillion-dollar transaction that closed September 26, 2017. The transaction involved an offering of $1.415 billion aggregate principal amount of senior notes and senior subordinated notes of Golden Nugget and a $1.080 billion secured incremental term loan and revolver.

The transaction included a reorganization of Golden Nugget that combined the restaurant operations of Landry’s, Inc. and its subsidiaries and affiliates with substantially all of Golden Nugget’s gaming operations. 

The gross proceeds of the offering, together with cash on hand and new borrowings under the combined $1.080 billion incremental term loan and revolver, will be used to refinance certain of Golden Nugget’s existing indebtedness, make a distribution to its parent and pay fees and expenses related to the transactions.

The Haynes and Boone team includes Dallas-based Partners Monika Sanford and Paul Amiel and Houston-based Partner Kristina Trauger.