The state Racing Commission did a bit of business [on December 4] that’s a commentary on the success of the Quapaw tribe’s Saracen Casino Resort in Pine Bluff…
The refinancing of $275 million in debt and a $100 million line of credit will reduce the interest rate from 13 percent to about 3 percent with a lending group led by Wells Fargo. The casino opened an annex in 2019 and a bigger casino a little more than a year ago.
The refinancing was helped by recent improvement in the credit rating of the owner, Saracen Development LLC, by both the Moody’s and Standard and Poor financial rating services.
