At a Glance

Together, the companies have a combined portfolio of over 450 locations and over 2,400 terminals spread throughout the state.

In early 2025, UGG was looking to facilitate a merger with GEM. Given our strong relationships with both entities, they were familiar with our creative structuring capabilities and ability to partner with banks to create a flexible, hybrid offering.

In March 2025, the newly formed joint venture raised a Senior Secured Credit Facility consisting of: i) a first lien term loan A, ii) a term loan B, and iii) a revolving credit facility.

We worked alongside a commercial bank to structure the financing, creating a blended capital solution that benefitted all parties. Our financing enabled the formation of the joint venture and allowed the new entity to refinance existing debt and fund its growth initiatives post-merger. We are pleased to support the formation of Universal GEM Gaming and look forward to the Company’s continued growth.