- Details
- By Tribal Business News Staff
- Finance
The Tule River Tribe Gaming Authority closed on $350 million in senior secured credit facilities this spring to refinance debt and fund expansion of the Tribe’s Eagle Mountain Casino in Porterville, Calif.
The financing, completed June 27, 2025, includes a $100 million revolving credit facility, a $100 million term loan, and a $150 million delayed draw term loan, according to a statement from KeyBanc Capital Markets. KeyBanc served as left lead arranger, joint bookrunner, and administrative agent.
The funds will support construction of the casino’s estimated $280 million expansion project. The upgrade will transform Eagle Mountain into a destination resort with a 193-room hotel, conference and meeting space, pool, spa, lazy river, and other amenities. Construction is expected to be completed in overlapping phases, with final delivery projected in May 2027.
Eagle Mountain Casino reopened in May 2023 at its new Porterville location, where it currently operates 1,750 slot machines, 20 table games, several restaurants, and a 2,000-seat event center.
This marks the second left lead syndicated transaction KeyBanc has arranged for the Tule River Tribe Gaming Authority, which selected the bank based on its experience in Native American financial services and track record in the gaming sector, according to a statement.
The Tule River Indian Tribe is a federally recognized tribe with more than 1,900 members. Its reservation covers nearly 85 square miles in the Sierra Nevada foothills.
KeyBanc Capital Markets, part of Cleveland-based KeyCorp, provides corporate and investment banking services across the United States. Its Native American Financial Services team focuses on financing for tribes, tribally owned enterprises, and Native-led projects.
