Bulletin: Seminole Hard Rock Entertainment Inc. Has Sufficient Financial Flexibility To Absorb JACK Cincinnati Acquisition - S&P Global Ratings’ Credit Research

Bulletin: Seminole Hard Rock Entertainment Inc. Has Sufficient Financial Flexibility To Absorb JACK Cincinnati Acquisition

Bulletin: Seminole Hard Rock Entertainment Inc. Has Sufficient Financial Flexibility To Absorb JACK Cincinnati Acquisition - S&P Global Ratings’ Credit Research
Bulletin: Seminole Hard Rock Entertainment Inc. Has Sufficient Financial Flexibility To Absorb JACK Cincinnati Acquisition
Published Apr 10, 2019
3 pages (1329 words) — Published Apr 10, 2019
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Abstract:

NEW YORK (S&P Global Ratings) April 10, 2019--S&P Global Ratings said today that Seminole Hard Rock Entertainment Inc. and parent entity Seminole Tribe of Florida have sufficient cushion relative to our leverage downgrade thresholds to absorb the acquisitions of the JACK Cincinnati operations in Ohio and the real estate and operations of Turfway Park in Kentucky. Although the cash payment acquisition financing details are not known, Seminole Hard Rock announced it will acquire the JACK Cincinnati operations for $187 million and the Turfway Park real estate and operations for $35 million. Our 'BB' issuer credit rating on Hard Rock and our 'BBB' rating on the Tribe are unaffected. We consolidate debt and EBITDA at Seminole Hard Rock into our credit

  
Report Type:

Bulletin

Ticker
1007861Z
Issuer
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers, Public Finance
Country
Region
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Seminole Hard Rock Entertainment Inc. Has Sufficient Financial Flexibility To Absorb JACK Cincinnati Acquisition" Apr 10, 2019. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Seminole-Hard-Rock-Entertainment-Inc-Has-Sufficient-Financial-Flexibility-To-Absorb-JACK-Cincinnati-Acquisition-2194289>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Seminole Hard Rock Entertainment Inc. Has Sufficient Financial Flexibility To Absorb JACK Cincinnati Acquisition Apr 10, 2019. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Seminole-Hard-Rock-Entertainment-Inc-Has-Sufficient-Financial-Flexibility-To-Absorb-JACK-Cincinnati-Acquisition-2194289>
  
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