From Bankruptcy to the Most Sought Out Regional Gaming Asset in North America
Read about one of Clairvest's most successful investment in the local market gaming domain.
Growth Investing in Gaming
With over 20 years of experience in Gaming, Clairvest is regarded as one of the most successful private equity firms in the industry and is a sought-out partner. Clairvest’s experience is vast from regional casinos and racetracks to suppliers, technology providers and online gaming across the globe.
5.7x
Multiple of capital on realized land-based gaming investments
16
Platform investments
36
Gaming assets
Gaming Experience
Clairvest is recognized as a leader in the gaming sector having had ownership interests in 36 gaming assets over two decades.
- 13 Mature Casinos
- 10 Greenfield Projects
- 10 Redevelopments
- 1 Video Gaming Terminal (“VGT”) Operator
- 2 Online Platforms
In every gaming investment, Clairvest is partnering with the local government in a highly regulated and controlled environment. The gaming industry provides significant gaming tax revenues that fund social imperatives including healthcare and education. Clairvest is acutely aware of problem gaming issues and works closely with its operating partners to put in place industry leading programs and procedures to protect consumers.
Our Track Record
If you have any growth opportunities in the gaming space, please contact Michael Wagman, Michael Andrisani or Curtis Merry.
212%
EBITDA Growth
14.0x
Multiple of Capital
Centaur Gaming was the parent company of two racetrack-casinos ("racinos") - Hoosier Park and Indiana Grand. These two horse racing and gaming facilities were located in Indianapolis, Indiana and served the central Indiana market, which had roughly 2.3 million adults. Centaur became one of the most sought-after gaming assets in the U.S. and was ultimately sold to Caesars Entertainment.
1,100
HHR gaming terminals
19
locations
Wyoming Downs is a licensed live horse racing and off-track betting operator in Wyoming (which includes historical horse racing (“HHR”) and simulcast). Wyoming Downs is one of three operators that are permitted to offer HHR throughout the state of Wyoming.
65
HHR machines
23
table games
New Hampshire Gaming is currently comprised of two charitable gaming facilities, one of which operated historical horse racing ("HHR") in Nashua, New Hampshire. The plan is to open an expanded casino with a demonstrably larger footprint of table games, HHR machines and related entertainment. The expanded facility is currently under development and is anticipated to open in 2025.
>2x
EBITDA since Clairvest investment
$10M+
investment on property upgrades
Delaware Park is a racino located in Wilmington, Delaware, serving the Delaware, Maryland, New Jersey, and Pennsylvania markets. The property offers traditional gaming positions (i.e. slot machines, tables games, poker tables), online and retail sports betting, iGaming, and live thoroughbred racing.
20
acquisitions to date
>26K
VGTs owned and operated
Accel Entertainment is the largest operator of VGTs based in Lemont, Illinois. Accel has expanded its presence into Georgia, Iowa, Nebraska, Montana, and Nevada. The company went public in November 2019 under the ticker NYSE:ACEL.
>800%
growth in active cash players since 2017
>400%
increase in rake revenue since investing
Head Digital Works operates Ace2Three, a leading online skill based gaming platform in India providing distinctive online Rummy experiences to over 8 million customers.
>200%
increase in recurring revenue
>280%
increase in R&D headcount
FSB Technology offers full B2B sports betting and online gaming capabilities utilizing an industry leading technology.
>40%
market share of NJ online sports betting (by handle)
#1
Sports book in North America
New Meadowlands Racetrack is a world renowned standardbred horse racing track located in East Rutherford, New Jersey & one of the largest sports books in North America.
15
year licenses on casinos
4
gaming properties
Chilean Gaming Holdings consists of four casino properties located in Chile (Concepcion, Osorno, Calama, and Chillan)
28%
average market share based on slot coin in
84K
sq.ft. building with 965 slots and 65 gaming tables
In partnership with Sonco Gaming, Clairvest financed the development of the Grey Eagle Casino & Bingo, a charitable casino on Tsuu T’ina First Nation reserve lands, located southwest of the City of Calgary.
#1
casino in the U.S. (by win/slot and win/table)
8.4x
Multiple of Capital
Rivers Casino was an entertainment complex with 1,200 gaming positions located in Des Plains, Illinois. Rivers Casino was the closest casino to Chicago, the third largest US gaming market behind Las Vegas and Atlantic City. In March 2019, Rivers Casino was sold to Churchill Downs.
1.9x
Multiple of Capital
54%
Internal Rate of Return
GTA Gaming owned four gaming operations located west of the Greater Toronto Area.
1.5x
Multiple of Capital
108%
EBITDA Growth
Casino New Brunswick was a casino, hotel, and multi-use entertainment and convention centre located in Moncton, New Brunswick. In October 2015, Casino New Brunswick was sold to Great Canadian Gaming.
9.1x
Multiple of Capital
2008
CVCA Deal of the Year
Gateway Casinos was a casino operator in Western Canada. The Company grew from four casinos in 2000 to nine establishments with over 3,600 slots in 2007 to become the largest casino operator in Western Canada.
217%
Internal Rate of Return
1.7x
Multiple of Capital
Thunderbird Resorts was a gaming holding company with assets in Latin America.
Our Areas of Interest
- Land-based casino opportunities
- Greenfield casino opportunities
- Redevelopment projects
- Route-based gaming operators
- Suppliers to land-based casinos
- Suppliers to online gaming (B2C and B2B)
- Niche/specialty gaming firms
Growth Story
