Jamul, California, January 11, 2026
The Jamul Indian Village Development Corporation has refinanced $425 million in senior secured debt for its San Diego County gaming and resort operations. This refinancing, which includes a $200 million revolving credit facility and a $225 million term loan, will help refinance existing debts and associated expenses. This financial move is aligned with the recent completion of a significant capital project that expanded Jamul Casino into a full-fledged integrated resort with a new hotel tower and various amenities.
Jamul, California
Jamul Indian Village Development Corporation Refinances $425 Million
The Jamul Indian Village Development Corporation (JIVDC) has successfully refinanced $425 million in senior secured debt tied to its gaming and resort operations in San Diego County. The refinancing, completed on November 25, 2025, includes a $200 million revolving credit facility alongside a $225 million term loan. These funds were primarily utilized to refinance existing debts and cover associated fees and expenses. This transaction was facilitated by KeyBanc Capital Markets Inc., which has played a pivotal role in previous financings for the tribal enterprise, particularly those related to the expansion of Jamul Casino.
Expansion of Jamul Casino Resort
The recently finalized refinancing is closely aligned with the completion of a significant capital project designed to transition the property from merely a standalone casino to a full-fledged integrated casino resort. In August 2025, JIVDC opened a new 16-story hotel tower, which connects to the existing casino via a climate-controlled sky bridge. The addition of the 200-room hotel—including 52 luxury suites—along with various amenities such as meeting and banquet spaces, retail outlets, a luxury spa, a fitness center, and an expansive rooftop pool deck, positions the establishment to attract a wider audience. The new hotel was built with the distinction of achieving AAA’s Four Diamond designation.
Previous Financial Transactions
Prior to this refinancing initiative, JIVDC had consequently secured a $515 million senior secured credit facility in April 2023, also arranged by KeyBanc Capital Markets Inc. Funds from this previous facility were similarly applied to refinance existing debt alongside the funding necessary for the construction of the new hotel tower, reflecting JIVDC’s commitment to optimizing its financial structure while promoting continued expansion. This strategic approach is underscored by earlier refinancing transactions completed in 2021 and 2022.
Background on Jamul Casino
The original Jamul Casino opened its doors in 2016, at a total investment of $430 million. The casino features nearly 1,700 slot machines, live table games, and a dedicated poker room, along with diverse options in food and beverage. The expansion of the resort has had a significant economic impact, supporting more than 1,400 permanent jobs within the region and contributing to the broader San Diego County economy.
About Jamul Indian Village Development Corporation
The Jamul Indian Village Development Corporation (JIVDC) is a wholly owned enterprise of the Jamul Indian Village of California, recognized federally as a tribal entity. JIVDC is charged with the ownership and operation of the Jamul Casino and is at the helm of development and expansion projects aimed at boosting the tribe’s economic self-sufficiency while also providing job opportunities for tribal members and the surrounding community.
FAQ
What is the Jamul Indian Village Development Corporation?
The Jamul Indian Village Development Corporation (JIVDC) is a wholly owned enterprise of the Jamul Indian Village of California, a federally recognized tribe. The corporation owns and operates the Jamul Casino and is responsible for its development and expansion projects, aiming to enhance the tribe’s economic self-sufficiency and provide employment opportunities for its members and the surrounding community.
What is the significance of the $425 million refinancing?
The $425 million refinancing by JIVDC comprises a $200 million revolving credit facility and a $225 million term loan. These funds were utilized to refinance existing debt and cover related fees and expenses. The refinancing aligns with the completion of a significant capital project that transformed the property from a standalone casino to an integrated casino resort, including the addition of a 16-story hotel tower.
What amenities does the new hotel tower offer?
The new 16-story hotel tower, opened in August 2025, added 200 rooms, including 52 suites, along with meeting and banquet spaces, retail outlets, a full-service spa and salon, a fitness center, and an 11,000-square-foot rooftop pool deck. The hotel was constructed to achieve AAA’s Four Diamond designation.
How has the Jamul Casino expanded over the years?
The original Jamul Casino opened in 2016 at a cost of $430 million. It features nearly 1,700 slot machines, live table games, and a dedicated poker room, along with multiple food and beverage venues. The expanded resort now supports more than 1,400 permanent jobs in the region, contributing significantly to the local economy.
Key Features
| Feature | Description |
|---|---|
| Refinancing Amount | $425 million |
| Components of Refinancing | $200 million revolving credit facility and $225 million term loan |
| Purpose of Refinancing | To refinance existing debt and cover related fees and expenses |
| Lead Arranger | KeyBanc Capital Markets Inc. |
| Completion Date of Refinancing | November 25, 2025 |
| Hotel Tower Opening Date | August 2025 |
| Number of Hotel Rooms | 200 rooms, including 52 suites |
| Additional Amenities | Meeting and banquet spaces, retail outlets, full-service spa and salon, fitness center, rooftop pool deck |
| Casino Opening Date | 2016 |
| Number of Slot Machines | Nearly 1,700 |
| Number of Table Games | Live table games and a dedicated poker room |
| Number of Permanent Jobs Created | More than 1,400 |
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