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Midwest To Open New $435M Casino July 18

DES PLAINES, IL-The venture will open the 147,000-square-foot new gaming facility soon, while the governor contemplates signing a new bill for another casino within Chicago city limits.

By Robert Carr | Updated on July 04, 2011

DES PLAINES, IL-As Gov. Pat Quinn examines a large plan that would allow five new casinos in the state, a local billionaire’s gaming facility is about to open here. Neil Bluhm, a partner in locally-based Walton Street Capital and chairman of Midwest Gaming and Entertainment LLC, is opening the $435 million Rivers Casino here on July 18.

The venture for the 147,000-square-foot casino here is a partnership of Bluhm and Clairvest Group Inc. The group has a $120 million senior secured facility consisting of $110 million delayed draw term loan facility and a $10 million revolving credit facility, for which Credit Suisse, Goldman Sachs and Macquarie Capital were the joint lead arrangers.

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