Latham & Watkins Advises on Rivers Enterprise’s US$600 Million Private Senior Notes Offering and Amended Revolving Credit Facility

Rivers Enterprise Borrower, LLC announced the pricing of US$600 million of its 6.250% senior secured notes due 2030 to be initially issued by Rivers Enterprise Lender, LLC, a wholly owned subsidiary of Rivers Enterprise, in a private offering that is exempt from registration under the Securities Act of 1933. The Notes offering closed on October 8, 2025, subject to customary closing conditions. Rivers Enterprise intends to use the net proceeds from the sale of the Notes, together with borrowings under an amended revolving credit facility, any rollover equity and cash on hand, to (i) fund the acquisition of the parent company of Rivers Casino Pittsburgh by Rivers Enterprise, (ii) repay and terminate the Revolving Credit and Term Loan Agreement of Rivers Casino Pittsburgh, and (iii) pay acquisition and financing-related fees and expenses incurred in connection with the Acquisition.

Latham & Watkins LLP represented the initial purchasers in the notes offering with a Capital Markets team led by partner Senet Bischoff, with associates Sofia Sitterson, Sheen Moaleman, and Elana Cates; and the lenders in the amended revolving credit facility with a banking team led by partner Brett Rosenblatt, with associates Josh Chao, Nick Little, and Will Swanson. Advice was also provided on tax matters by partner Bryant Lee, with associate Lucas Migliano.