Earlier this month, MGM Resorts International, the leading gaming and entertainment company, confirmed its plans to sell the operations of MGM Northfield Park, a popular racino based in Northfield, Ohio.
Now it has become clear that the global leader in credit investing, Silver Point Capital, will lead the financing supporting the acquisition via its Direct Lending business.
Silver Point becomes Lead Arranger and Administrative Agent for the transaction
The strategic acquisition with a price tag of $546m will see the Toronto-based Clairvest Group acquire the operations of MGM Northfield Park.
In that process, Silver Point will be serving as a Lead Arranger and Administrative Agent in securing a credit facility supporting the half-a-billion-dollar acquisition.
Anthony DiNello, Silver Point Capital's Head of Direct Lending, commented on the topic, Casino Guru News learned from a press release.
"We are pleased to deliver a tailored financing solution to the Clairvest team, as they bring a 25-year track record of investing in the gaming industry to their investment in Northfield Park," he said.
The strategic acquisition, subject to customary regulatory and licensing approvals, is expected to be closed and funded in the first half of 2026.
Upon announcing the business move, Jonathan Halkyard, MGM Resorts' CFO and Treasurer, said: "This is an excellent result for MGM Resorts and demonstrates consistency in driving transaction multiples at meaningful premiums over where MGM Resorts currently trade."
As of the 12 months ended June 30, 2025, MGM Northfield Park reported Adjusted EBITDAR of approximately $137m.
Considering the $546m acquisition cost of the operations of the venue, the sum is a 6.6x multiple on the Adjusted EBITDA result.
Recognized as a go-to gaming destination in Ohio, MGM Northfield Park is in fact the largest gaming venue in the state.
It offers 74,000 square feet of gaming space where guests can enjoy some 1,600 video lottery terminals, as well as a range of dining outlets.
Moreover, MGM Northfield Park has a half-mile horse racetrack, along with a range of other amenities.
