In May, Pinnacle was named as a 26% equity partner in ACDL
Ho Tram Strip developer raises us$ 237 million equity in private offering
2011-08-31
Reading time 34 seg
(Vietnam).- Asian Coast Development, the owner and developer of the Ho Tram Strip gaming resort in Vietnam, has raised us$ 237.4 million in equity following a private offering, according to a filing with the US Securities and Exchange Commission.
Subscribers listed for the private offering on the SEC filing include Lloyd Nathan, CEO of ACDL, and Anthony Sanfilippo, a director of ACDL and the Chairman and CEO of US regional gaming operator Pinnacle Entertainment.
In May Pinnacle itself was named as a 26% equity partner in ACDL. At that time, the premium for Pinnacle's equity stake in ACDL was put at us$ 95 million.
Others taking part in the private offering, details of which were filed on 24th August, include Stephen Shoemaker, President and Chief Financial Officer of ACDL, and ACDL directors Robert Wolfe, Jack Maier, William Thomson and Joseph Cleverdon.
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