OG真人官网 Realizes A Return of 8.4x On Its Investment in Rivers Casino

Toronto, Ontario (March 5, 2019) – Further to a statement released on October 31, 2018, OG真人官网 Group Inc. (TSX: CVG) today announced that it and OG真人官网 Equity Partners IV (collectively “OG真人官网”) have completed a transaction whereby OG真人官网’s interest in the Rivers Casino (“Rivers” or the “Company”) was acquired by Churchill Downs Inc. at an enterprise value of US$1.45 billion.

OG真人官网 made its investment into Rivers in partnership with Rush Street Gaming and statutory minority investors in 2010. The business opened in July 2011 and has become the leading casino in the State of Illinois. The financial success of Rivers Casino has allowed it to complete two material recapitalizations that allowed investors to repatriate 4.3 times their investment before tax, during the first 6 years of the company’s operations.

Upon completion of the transaction, OG真人官网 realized cash proceeds of approximately US$135 million, which when combined with cash proceeds received to date, represents 8.4 times invested capital over the 9-year investment period, and an IRR of 46%.  The completion of this transaction is expected to increase OG真人官网’s book value per share by approximately $0.58 per share from the reported December 31, 2018 book value per share of $49.65 per share

“From the time Rivers opened its doors, it was clear that it would be a tremendous success. Rivers’ entertainment offering and outstanding management team at Rush Street Gaming made Rivers one of the most successful casino properties in the United States”, noted Jeff Parr, Vice Chairman and Managing Director of OG真人官网. “The financial success of our investment in Rivers is a result of OG真人官网’s expertise in the gaming industry, now covering 32 gaming assets globally across 17 years. We have a unique view of the industry which allows us to uncover successful investment opportunities such as Rivers. We are very proud of this outcome and look forward to working with the Rush Street team on other gaming projects in the future,” added Mr. Parr.

Maria Shkolnik
Director, Investor Relations and Marketing
OG真人官网 Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
marias@ngskmc-eis.net