JDI provided a $16M super-priority debtor-in-possession (DIP) loan to Hawthorne Race Course, a 135-year-old thoroughbred and harness racing venue in the Chicago MSA. The borrower filed for Chapter 11 protection in early 2026 with approximately $60M in secured debt and sought bridge financing to stabilize operations while pursuing a long-planned $400M racino development. JDI's 120-day DIP facility funded payroll, daily operations, and past-due horsemen purse obligations, enabling the track to resume racing ahead of its April 2026 thoroughbred meet. Interim court approval was granted by the U.S. Bankruptcy Court for the Northern District of Illinois in mid-March 2026. This deal reflects JDI's ability to underwrite complex, time-sensitive situations that conventional lenders cannot or will not touch.
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