n December 3, 2007, Saskatchewan Indian Gaming Authority Inc. entered into amended and restated syndicated credit facilities in the amount of $81,000,000.00, for construction and project costs of building of three casinos and for general corporate purposes. Security for the credit facilities consisted in part of leasehold mortgages over seven different casino sites, including both existing casinos and those under construction, and involved cooperation between various landlords, including First Nations and the Federal Crown.
Saskatchewan Indian Gaming Authority Inc. currently operates five casinos throughout Saskatchewan and plans to add an additional venue in 2008. Saskatchewan Indian Gaming Authority Inc. was named Sask Business magazine's Business of the Year for 2007, the youngest company to earn the recognition.
Bank of Montreal acted as administrative agent for a syndicate of lenders comprised of Bank of Montreal and Sun Life Assurance Company of Canada.
The agent and the lenders were represented by the Calgary office of Fraser Milner Casgrain LLP, with a team comprised of Joe Palin and Trevor Morawski. MacPherson Leslie & Tyerman LLP, with a team comprised of Neil MacKay and Bob Kasian, acted as counsel to the borrower and guarantors. McKercher McKercher & Whitmore LLP, represented by a team led by James Sproule, acted as local Saskatchewan counsel to the agent and the lenders.