Hospitality, Gaming & Leisure

Latham represents the world’s leading investors, owners, operators, lenders, and brands on every type of transaction in the hospitality, gaming, and leisure sectors. We help clients execute transactions including: M&A, developments, single asset and portfolio joint ventures, platform joint ventures, management and franchise transactions, and financings.

Why Latham

Our track record of success draws on decades of experience helping clients grow their business and expand their portfolios, staying at the forefront of transactions in these industries. Latham lawyers leverage our global platform and multi-disciplinary industry practice groups to draw upon the broad legal experience necessary to handle transactions involving dynamic operating businesses housed within significant real estate assets. So we deliver results that help clients achieve their most ambitious business goals. We advise on everything from complicated, multi-billion dollar, transformative transactions, to opportunistic development and management investment vehicles. We also help clients navigate all types of capital market transactions, including PIPEs, IPOs, and bond issuances, as well as all aspects of debt and equity financing.

In an increasingly competitive sector, we help clients protect their brands. Our team capitalizes on market opportunities for clients, and frequently negotiates management agreements, operating leases, franchising, trademarks, and technical service agreements on behalf of owners, operators, and hotel brands.

In order to protect and preserve clients’ businesses, we advise hospitality, gaming, and leisure companies, as well as their boards of directors and senior management, on strategies to address bet-the-company litigation and internal investigations. We work with clients to help them maintain market share and manage relationships with regulators and other industry bodies.

When crises arise, from a global pandemic to natural disasters, Latham quickly pivots to help clients stabilize and protect their businesses, and to guide them through urgent financial restructurings, operational issues, policy changes, and employment matters.

 

Our Experience

This group of lawyers has extensive experience in equity, securities and bank financings and serves as counsel to designated underwriters for numerous industry leaders. Latham has worked in all aspects of private equity investments, recently advising on one of the largest leveraged buyout transactions (LBOs) in US corporate history, and the largest gaming LBO in history.

A sampling of the firm's recent industry work includes the representation of:

  • The Cordish Companies in its development of a casino, hotel and retail complex with the Oneida Wisconsin Indian Tribe in the State of New York
  • Walton Street Capital, L.L.C. in connection with the joint venture and acquisition of the Fairmont Scottsdale Princess and the contemporaneous restructuring of existing indebtedness
  • Scientific Games Corporation, a global leader in services for lottery and gaming organizations in more than 50 countries, in its senior subordinated notes issuance
  • Hyatt Hotels Corporation in their US$1.09 billion IPO on the NYSE and their US$500 million offering of senior notes in 2009
  • A golf management company in connection with the restructuring of more than US$300 million in debt secured by owned, leased and managed golf courses
  • Credit Suisse in connection with restructuring and exit financing for Centaur Gaming
  • Deutsche Bank in connection with several offerings of senior secured notes by Wynn Las Vegas to refinance the company’s existing US$1.7 billion in principal amount of senior secured notes
  • Hard Rock Hotel Holdings in restructuring of CMBS floating rate mortgage loan with a construction component and three mezzanine loans secured by trophy Las Vegas hotel and casino

Awards & Rankings

  • Fifteen Partners Receive 2020 MVP Honors - October 04, 2020
  • Five Partners Receive 2019 MVP Honors - November 11, 2019
  • Finance Counsel Named Rising Star in San Diego - May 19, 2019
  • Latham Again Named Technology Group of the Year - February 18, 2019
  • New York Partner Recognized for Excellence - September 12, 2018

Latham is “a transactional powerhouse with significant expertise in the hotel, leisure and gaming sectors, routinely acting on complex financings, M&A and joint ventures.”

Chambers USA 2020

Media Coverage

Jeff Bjork: Outstanding Restructuring LawyerHospitality MVP: Gary AxelrodLatham Beefs Up Real Estate, Hospitality Practice

News

Latham & Watkins Advises Bain Capital Credit on its Investment in Alsea EuropeLatham & Watkins Advises Hyatt Hotels on US$2.3 Billion Capital Markets FinancingsLatham & Watkins Advises Sportradar on IPO

Thought Leadership

CMA COVID-19 Update: Recent Measures to Protect Consumers COVID-19: Managing Worker Health & Safety 5 Considerations For Developing Projects On Native Lands