Lucky Bucks Announces Credit Facility Upsize
Oct 21, 2020, 14:29 ET
ATLANTA, Oct. 21, 2020 /PRNewswire/ -- Lucky Bucks (the "Company"), the largest digital skill-based coin operated amusement machine (COAM) route operator based in Atlanta, Georgia, announced today that it has completed an upsize on its existing credit facility, led by KeyBank N.A., raising an incremental $70 million in committed financing. The Company plans to use its incremental financing capacity to continue to capitalize on its acquisition strategy in distributed gaming and route-based operations in the State of Georgia.
Lucky Bucks Board Member Manu Sekhri said, "The support of our capital partners is critical to the acquisition strategy and to build our position in the Georgia COAM market. We have been fortunate to work with KeyBank on the new facility and are grateful for their and our lender group's continued support. This builds on the momentum created with our recent partnership with Trive Capital and provides us with the capacity for continued expansion."
"The closing of our credit facility upsize is a vote of confidence from our lenders and marks another important milestone for Lucky Bucks. We are confident this transaction will enhance our success as we continue to expand the business alongside our supportive lender group," commented Shravan Thadani, Managing Director at Trive.
About Lucky Bucks
Lucky Bucks is a digital skill-based coin operated amusement machine (COAM) route operator based in and incorporated under the laws of the State of Georgia in the U.S. Lucky Bucks is the holder of a Master License, and its machines are fully licensed and governed by the Georgia Lottery Corporation and offer players a variety of digital skill-based coin-operated amusement machines. Currently, Lucky Bucks is the largest route operator of skill-based gaming machines in the State of Georgia.
About Trive Capital
Trive Capital is a Dallas, Texas based private equity firm managing approximately $2 billion in aggregate capital commitments. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive's targeted industry sectors and situations.
SOURCE Trive Capital
