$185mm Senior Secured Term Loan
Location: Mount Pocono, PA//Slots: 1,800//Table Games: 80//Hotel Rooms: ~300//
Mount Airy Casino Resort is a AAA Four Diamond-rated casino in Pennsylvania’s Pocono region. The resort’s upscale guest rooms and suites are complemented by a 20,000-square-foot convention center, an 18-hole golf course, a spa, and luxury entertainment complex.
Services & Focus
Sports Book & iGaming
Lodging & Real Estate
Highly Efficient Process Capitalizing on Strong Performance and Credit Markets
- At the beginning of COVID-19, GLC advised Mount Airy on amendments to its existing credit agreement and helped raise a $50mm Main Street Priority Lending Facility
- Engaged again in early 2021 for full refinancing to reduce the company’s interest burden and loosen covenants
- GLC drafted marketing materials, prepared a bottoms-up forecast, and approached several investment banks and credit funds with experience in the gaming industry
- GLC remained “hands-on” as it guided management throughout the execution of the financing
Casino, iGaming, Sports
Lodging and Fine Dining
18-hole Golf Course
Luxury Spa Complex
GLC Successfully Positioned Mount Airy for its refinancing
Proximity to Key Metro Populations
<90 minutes from Philadelphia, New York City, and northern New Jersey markets.
Strong performance after pandemic closure
Building on record performance in 2019, property demonstrated improved results after state-mandated closure of casinos.
Experienced Management Team
New management team brought on in 2019 and 2020 further optimized operations and identified significant additional upside.
Attractive Amenity Offering
Investments in convention center and additional hotel rooms increased capacity and helped drive incremental visits, building on award-winning golf course and spa.