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.
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SOURCE Trive Capital