Levine Leichtman Exits Harlow’s Casino

Consumer-centric private equity firm Levine Leichtman exited its Harlow’s Casino Resort & Hotel investment, selling the gaming business to listed, Kentucky-based Churchill Downs Inc. in a $138 million deal. Houlihan Lokey advised on the transaction. The sale netted the sponsor a 29% IRR and a 2.3x cash-on-cash return. The deal is the second of two exits for the private equity firms in the gaming space. Previously, Levine Leichtman also held a stake in Mikohn Gaming Group.

DealsNorth AmericaUSBriefs