Clairvest and West Face to sell Centaur Gaming to Caesars for US $1.7B

Caesars Entertainment Corporation (NASDAQ: CZR) has entered into a definitive agreement to acquire Centaur Holdings, LLC (Centaur Gaming) from Clairvest Group Inc. (TSX: CVG) and West Face Capital Inc. for US $1.7 billion in cash, including US $1.625 billion at closing and US $75 million in deferred consideration.

Centaur Gaming is the owner and operator of the Hoosier Park Racing and Casino based in Anderson, Indiana, and the Indiana Grand Racing and Casino based in Shelbyville, Indiana.

Clairvest Group, Clairvest Equity Partners IV and funds advised by West Face initially invested jointly in Centaur Gaming in 2010 through the purchase of debt securities in Hoosier Park’s parent corporation at the time. The company was restructured and West Face and Clairvest and their affiliates had a controlling interest in the company. Centaur Gaming later acquire Indiana Grand.

The transaction is subject to receipt of regulatory approvals and other customary closing conditions and is expected to close in the first half of 2018.

photo credit: Centaur Gaming

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.