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Jamul Indian Village Development Corporation Completes $515 Million Financial Transaction

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On March 29, 2023, the Jamul Indian Village Development Corporation (JIVDC), owner and operator of Jamul Casino and a wholly-owned enterprise of the Jamul Indian Village of California (the Tribe), closed on $515 million of Senior Secured Credit Facilities (the Credit Facilities) with a syndicate of commercial banks led by KeyBanc Capital Markets Inc. The other lenders included Western Alliance Bank, Nevada State Bank, U.S. Bank, PNC Bank, CIT Bank, and Columbia State Bank. Proceeds from the Credit Facilities will be used to refinance existing debt, fund hotel construction, and pay transaction-related fees and expenses.

JIVDC and Tribal Chairwoman Erica M. Pinto said: “We are thankful for the partnership with KeyBanc and appreciate their approach, flexibility, and collaboration. The terms of this transaction will allow us to focus on our long-term financial stability and new projects that will continue to provide benefits for the Tribe.”

“KeyBanc Capital Markets, together with a syndicate of lenders, are dedicated to providing financial solutions required by Tribes and their gaming entities. Jamul Casino’s management team and JIVDC’s effective leadership made this financial goal a reality. We are proud to be part of the continued success of JIVDC, Jamul Casino, and the Tribe as well,” Ben Rechkemmer, Managing Director at KeyBanc, said.

Procopio, Cory, Hargreaves & Savitch LLP (Procopio) provided legal counsel for the JIVDC, and FSA Investment Group acted as the JIVDC’s financial advisor. Procopio is an AMLaw 200 full-service business and litigation law firm, and FSA Investment Group is a financial advisory and investment firm.

This is the third significant financial transaction the JIVDC has completed in recent years. The Tribe refinanced their property in 2021 and again 2022. The Tribe’s success in completing these transactions is due in part to Jamul Casino’s:

  • Strategic location in a well-populated area with favorable demographics
  • Modern facility with state-of-the-art amenities
  • Impressive player database growth with strong trends
  • Best in-class management team, led by President and General Manager, Mary Cheeks.

“It’s very rewarding to see Jamul Casino’s success recognized by this team of lenders. It speaks to the vision of our Tribal Board, the Property leadership team, the dedication of our staff, and the loyalty of our guests. This comes at an exceptional time as we begin building a beautiful new hotel connected to the Casino,” Ms. Cheeks said.

JIVDC is adding to its property by developing a new 16-story hotel, which will feature 200 rooms, including 52 suites, a rooftop pool and jetted hot tub, a spa and salon, a fitness center, a restaurant and lobby bar, and a banquet room. The hotel is being built to achieve AAA’s Four Diamond designation.

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IBN Initiates Coverage of SEGG Media Corporation

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SEGG Media Corporation, a leading technology company transforming the global intersection of sports, entertainment, and gaming, has selected IBN, a multifaceted financial news and publishing company serving private and public entities, to spearhead its corporate communications efforts.

SEGG Media aims to deliver immersive, real-time experiences through next-generation technology that redefines how audiences interact with their favorite content and communities. Following a full-scale corporate transformation and rebrand, the company now operates across three high-growth verticals: Sports.com, Entertainment, and Lottery.com.

Sports.com serves as a global hub for sports content with a focus on soccer, sim racing, motorsports, and athlete-led media, with the upcoming Sports.com Super App poised to evolve fan engagement by integrating streaming, e-commerce, fantasy gaming, and sports news. The Entertainment division builds on AI-powered live events and direct-to-fan platforms, while Lottery.com delivers compliant, ethical gaming solutions including iGaming and charitable lottery access to global audiences.

With a $100 million financing facility and strategic acquisitions underway, including proposed deals with GXR World and DotCom Ventures, SEGG Media is executing a multi-vertical expansion strategy designed to unify fragmented fan experiences across live content, gaming, and digital commerce.

As part of the client-partner relationship, IBN will leverage its investor-focused distribution network, which includes over 5000 key syndication outlets, various newsletters, social media channels, and wire services via InvestorWire, along with blogs and other outreach tools, to generate greater awareness for SEGG Media.

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Polymarket Acquires CFTC-Licensed Exchange and Clearinghouse QCEX for $112 Million

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Polymarket, the world’s largest prediction market, announced that it has closed an acquisition of the holding company of a Commodity Futures Trading Commission-licensed derivatives exchange (QCX LLC) and clearinghouse (QC Clearing LLC) (collectively QCEX) for $112 million. The transaction marks a significant step toward expanding access to Polymarket’s category-defining platform in the US, enabling more users than ever to trade prediction market contracts with regulatory clarity and confidence.

“Polymarket is the largest prediction market globally and has become synonymous with understanding the probability of current events. Demand is greater than ever — not just in user growth and trading volume, but in how mainstream audiences are turning to Polymarket to separate signal from noise, bias, and speculation. Now, with the acquisition of QCEX, we are laying the foundation to bring Polymarket home — re-entering the US as a fully regulated and compliant platform that will allow Americans to trade their opinions,” said Shayne Coplan, Founder and CEO of Polymarket.

“When we began the process to obtain our DCM & DCO licenses over 4 years ago, the prediction market was in its infancy. But we have long believed in its potential to change the way people access and understand information and express their views on that information. Shayne has built a cultural phenomenon in Polymarket. I am excited to bring our companies together and leverage our licenses, technology, and expertise in the retail trading sector to help Polymarket reach its full potential,” said Sergei Dobrovolskii, Founder of QCEX.

Polymarket has continued to build significant momentum as the world’s largest prediction market and a trusted source of real-time information. In the first half of 2025 alone, users have already made about $6 billion in predictions on the platform. Most recently, Polymarket announced an official partnership with 𝕏, further solidifying its position at the intersection of politics, markets, and culture.

The acquisition of the QCEX entities paves the way for U.S. users to access Polymarket in the near future within a fully regulated, US-compliant framework. As prediction markets continue to gain mainstream relevance, Polymarket remains the go-to platform for understanding what the world is thinking — and where it’s headed.

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Full House Resorts Announces Promotion of Lewis Fanger to President

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Full House Resorts Inc. announced that it has promoted Lewis Fanger to President, Chief Financial Officer, and Treasurer, effective July 11, 2025. The title of President was previously held by Daniel Lee, the Company’s Chief Executive Officer. As previously disclosed, Mr. Lee extended his employment agreement as the Company’s Chief Executive Officer in June 2025.

“Since our arrival approximately ten years ago. Full House Resorts has undergone a significant transformation, from a small regional casino operator to one of the fastest-growing companies in our industry. Lewis’s financial leadership has helped enable that growth, allowing us to improve our existing assets and expand the Company through new developments such as American Place and Chamonix. Lewis has been an invaluable part of our team over the past decade, and his promotion to President will help ensure a continuity of leadership,” Mr. Lee said.

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