Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Related News

Gaming News


Innovation Capital completes financing for Jumer's Casino Rock Island

6 September 2007

LOS ANGELES, California -- (PRESS RELEASE) -- Innovation Capital, LLC, an investment banking firm with a practice dedicated to the gaming, leisure and hospitality industries, announced its role as Sole Placement Agent and Financial Advisor in connection with the closing of a $126.0 million debt private placement (the "Financing") by The Rock Island Boatworks, Inc. dba Jumer's Casino Rock Island (the "Company"). The Financing consisted of a $90.0 million senior term loan and $36.0 million second lien term loan. The Company, which is wholly-owned by the Jumer family, has owned and operated a riverboat casino in the Quad Cities market since the inception of Illinois gaming in 1992.

The proceeds of the Financing will be used to fund the development and construction of the new Jumer's Casino Rock Island Resort in Rock Island, Illinois. The new Jumer's Casino Rock Island Resort will feature over 1,100 slot machines, 30 table games, a 204-room hotel, four restaurants, a covered parking structure and other entertainment amenities. The new Jumer's Casino Rock Island will be ideally located at the intersection of Interstate 280 and Illinois State Highway 92.

Matt Sodl, Managing Director of Innovation Capital commented, "We are pleased with the execution of this debt financing as it will create a significant amount of value for the Jumer family once this project is developed. Despite the turbulent credit markets, this debt financing was consummated because of the strong underlying project fundamentals and the commitment of the Jumer's team. Once completed, this will be the premier gaming property in the Quad Cities market and a great asset for the Jumer family, the employees and customers."

< Gaming News