Client Overview
Client Overview

Advisor to Company on
$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

Casino Gaming
Sports Book & iGaming
Lodging & Real Estate
Golf Course
Convention Center

Deal Overview
Deal Overview

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

Convention Center

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.