Seven Aces Limited Announces New US$165 Million Credit Facility and Acquisition of Additional Gaming Contracts

Seven Aces Limited (the "Corporation") (ACES) is pleased to announce that Lucky Bucks, LLC ("Lucky Bucks"), the Corporation's 70% owned subsidiary, has entered into a definitive credit facility agreement with a syndicate of lenders led by KeyBank National Association KEY, +1.06% (the "Credit Facility"), pursuant to which Lucky Bucks is entitled to borrow up to an aggregate of US$165 million. KeyBank National Association and KeyBanc Capital Markets Inc. (together, "KeyBank") are acting as a joint lead arranger and a joint bookrunner, and as administrative agent and collateral agent under the Credit Facility. The proceeds of the Credit Facility will be used to finance the acquisition of gaming contracts and associated skill-based digital gaming terminals from Shivbhakti, Inc. ("Game Vendor"), refinance Lucky Bucks' existing indebtedness, fund certain fees and expenses associated with the closing of the Credit Facility and the related transactions, finance additional acquisitions, investments and capital expenditures from time to time, fund working capital, and fund other general corporate purposes of Lucky Bucks. Lucky Bucks entry into the Credit Facility would have resulted in an estimated interest expense savings of approximately US$4 million based on Lucky Bucks' trailing twelve months from September 30, 2019.

"This announcement reflects the recognition of the maturity of the Georgia coin-operated amusement machine market, and the risk profile of our business. This credit facility provides interest expense savings and an unmatched flexibility to execute on our acquisition pipeline", said Manu K. Sekhri, Chief Executive Officer of the Corporation.

Credit Facility Details

The Credit Facility is comprised of a revolving credit facility in an aggregate principal committed amount of US$50,000,000, an initial term loan facility in an aggregate principal funded amount of US$100,000,000, and a delayed draw term loan facility in an aggregate principal committed amount of US$15,000,000.

The Credit Facility will be available to Lucky Bucks on agreed upon terms including the following:

The interest rate under the Credit Facility is LIBOR plus a margin between 2.0% and 2.75% (or a base rate equivalent) based on Lucky Bucks' total leverage ratio. The total interest rate at close will be approximately 4.5%. The Credit Facility reduces Lucky Bucks' effective financing interest rate from approximately 9-10% to approximately 4.5% (subject to LIBOR fluctuation).The acquisition of Game Vendor closed simultaneously with the initial borrowing under the Credit Facility.The Credit Facility will be available immediately upon closing.The maturity date of the Credit Facility is 5 years after closing.The Credit Facility is secured by substantially all of the assets of Lucky Bucks and a pledge of the equity interests in Lucky Bucks made by its immediate parent company, and is to be guaranteed by any of Lucky Bucks' future subsidiaries.

Lucky Bucks' ability to draw on the Credit Facility is subject to borrowing covenants and conditions precedent typical of a credit facility of this nature. Lucky Bucks will pay KeyBank an arrangement fee, an upfront fee (a portion of which will be paid to the other lenders), and an annual administration fee, all of which are typical of these arrangements.

Acquisition of Additional Gaming Contracts

The Corporation also announces that Lucky Bucks has completed the acquisition of 160 gaming contracts and associated skill-based digital gaming terminals from Game Vendor (the "Acquisition"), initially announced in the Corporation's press release dated December 20, 2019. The purchase price for the Acquisition was US$32.5 million on closing, with potential additional payments that could result in the aggregate consideration payable increasing to a range of US$36 million to US$38 million (as currently best estimated by Lucky Bucks) in the event of the satisfaction of certain conditions related to post-closing revenue generation. Any such post-closing payments, if made, would be payable by Lucky Bucks on or before the date that is 12 months from the closing date.

About Seven Aces Limited

Seven Aces Limited is a gaming company, with a vision of building a diversified portfolio of world class gaming operations. The Corporation looks to enhance shareholder value by growing organically and through acquisitions. Currently, the Corporation is the largest route operator of skill-based gaming machines in the State of Georgia, United States of America.

Additional information about the Corporation is available online at www.sevenaces.com.

For further information please contact:

Manu K. SekhriChief Executive Officer, DirectorTel. (416) 477-3414manu@sevenaces.com

Stephanie LippaOffice ManagerTel. (416) 477-3411stephanie@sevenaces.com