City National Helps Exotics Racing Expand its Business In Las Vegas with a Credit Facility Totaling $7.5 Million
LAS VEGAS, NV – City National Bank, Nevada’s Premier Private and Business Bank®, today announced that it has provided Exotics Racing with a financing package consisting of revolving lines of credit, commercial real estate, construction financing, and equipment lending totaling $7.5 million. Exotics Racing is one of City National’s newest and most high profiled clients located at the Las Vegas Motor Speedway.
Exotics Racing makes the world’s largest fleet of supercars accessible to Las Vegas locals and visitors. Guests visit the track from around the world to drive today’s most exciting high performance race cars with professional racing instruction on a private race track. Exotics Racing owners David Perisset and Romain Thievin opened their Las Vegas business in 2009 and since then over 150,000 guests have participated in the ultimate driving experience.
“Las Vegas was the perfect fit for our company and City National was the right banking partner to help us grow and expand our business in Las Vegas and southern California,” said Perisset, CEO and co-owner of Exotics Racing. “With City National’s continued support we are looking at expanding our business with additional products including a new race car series.”
Perisset and Thievin were both born and raised in France and are professional race car drivers. Thievin is a five-time Champion in French GT car racing and was a co-host of FAST CLUB, a car TV show that is popular in France and Belgium. Thievin is also an accomplished stunt driver, having worked on more than 150 movies. In 2003, Romain won a Taurus World Stunt Award for his work in The Bourne Identity and Ronin. Perisset is a former investment banker who also drives professionally in the NASCAR Euro series with Thievin.
“City National couldn’t be more thrilled to have Exotics Racing as one of its newest clients,” said John Wilcox, Nevada regional executive of City National. “David and Romain embody the entrepreneurial spirit and business acumen that City National seeks to do business with. We look forward to helping Exotics Racing grow and expand their driving experience business in Las Vegas and in other markets.”
Exotics Racing owns over 50 exotic race cars, including Ferraris, Lamborghinis, Porsches and more. The company recently moved into a new 14,000 square foot facility at the Las Vegas Speedway and purchased several new race cars with the financing it received from City National. In addition to the Las Vegas Speedway track, Exotics Racing also operates a track on weekends at the Auto Club Speedway in Fontana, California.
Located approximately 20 minutes from the Las Vegas Strip, Exotics Racing’s private 1.2 mile track includes seven turns and a 1,800ft straight away. According to the company, driving experiences at the Las Vegas track averages about 45,000 miles a month. This year, Exotics Racing expects to generate $25 million in revenue. City National will feature Exotics Racing in a new testimonial TV spot debuting early this summer.
About Exotics Racing
Exotics Racing makes the world’s largest fleet of supercars accessible to Las Vegas visitors and locals. The driving experience program integrates classroom education, discovery laps, and on-track coaching, into one comprehensive safe driving experience. Unlike other supercar experiences, Exotics Racing’s driving experience packages include insurance, and no security deposits are required. Packages start at $199 for 5 track laps. High Speed Ride-Along packages are also available, in which guests experience the track as a passenger with a professional racing driver at the wheel.
For more information about Exotics Racing, visit www.exoticsracing.com.
About City National
City National Corporation (NYSE: CYN) has $32.6 billion in assets. The company’s wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 75 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. City National and its investment affiliates manage or administer $60.8 billion in client investment assets, including $48.1 billion under direct management.
City National has eight branch offices in Nevada, including four in Las Vegas and one each in North Las Vegas, Reno, Carson City and Minden.
For more information about City National, visit the company’s Website at cnb.com.