Las Vegas Sun

March 24, 2019

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Equity investment increased at the Resort at Summerlin

The owners of the Resort at Summerlin have increased their equity investment to $76 million from their original $67.5 million, resort officials said Monday.

SEC filings dated prior to May 17 said Seven Circle Resorts had invested $67.5 million.

The resort now says that Swiss Casinos of America Inc., Swiss Casinos Holding AG and unaffiliated partners contributed the $76 million in equity, while Resort at Summerlin LP and its general partner Resort at Summerlin Inc. co-issued $100 million of first-mortgage notes and $100 million of senior subordinated notes to finance the project.

Swiss Casinos of America, formerly known as Seven Circle Resorts' parent Seven Circle Gaming Corp., is 83 percent owned by Swiss Casino Holdings.

Swiss Casinos of America owns Resort at Summerlin Inc. and is majority owner of Resort at Summerlin LP, which includes unnamed, unaffiliated partners who own 6.72 percent of the resort.