Midwest Gaming announced it has successfully closed on $295m in aggregate debt financing and invested $150m of equity for its casino project in Des Plaines, Illinois.
The company also purchased the land on which its casino and entertainment complex will be developed, clearing the way for construction to begin in April on the long-awaited $445m development. The casino is anticipated to open in late summer 2011.
"Today’s closing is the culmination of years of hard work. Now we will begin building a showplace that we believe will create tremendous revenues for the state and local governments, put people to work and generate tourism," said Neil Bluhm, Midwest Gaming chairman. "We look forward to being a great neighbour for Des Plaines, the surrounding communities and the state of Illinois."
