NEW YORK – May 2, 2024 – Global law firm Greenberg Traurig, LLP acted as counsel to KeyBanc Capital Markets Inc., the sole underwriter of a $342.7 million tax-exempt bond offering issued April 2 by the Suffolk County Regional Off-Track Betting Corporation (SROTB). The SROTB is a New York public benefit corporation.
Proceeds of the bond offering, which was unrated, will be used to finance the expansion of Jake's 58 Casino Hotel in Islandia, New York. Plans call for doubling the number of video lottery terminals and expanding and improving the hotel’s amenities, as well as refinancing existing debt.
The Greenberg Traurig team was led by Public Finance & Infrastructure Practice Shareholder Carl McCarthy with assistance from Associates Jeffrey Schreiber (New York, Real Estate), Jason Gonzalez (Miami, Public Finance), and Violeta Gonzales (Orlando, Public Finance). Other attorneys on the team included Shareholders Mark F. Glaser (Albany, Government Law & Policy), Danielle M. Stingone (New York, Real Estate Finance), John “JR” DiCioccio (Long Island, Land Use), and David C. Jensen (New Jersey, Construction Law).