The Ho-Chunk Nation of Wisconsin has closed $610 million in senior secured credit facilities to finance construction of its new flagship casino resort in Beloit.
The facilities include a $305 million revolving credit facility and a $305 million delayed-draw term loan, supplemented by about $95 million in tribal equity, according to a deal summary by KeyBanc Capital Markets, which served as left lead arranger, joint bookrunner, and administrative agent on the transaction. The deal closed Sept. 26, 2025.
Proceeds will fund development of the $705 million destination casino, as well as fees and expenses associated with the project. The Ho-Chunk Nation Legislature authorized the financing, with the Nation’s Department of Business overseeing management of its gaming enterprises.
