Industry News
Entain Announces Successful Pricing and Allocation of New Term Loan
Entain plc, the global sports betting, gaming and interactive entertainment group, announced the pricing and allocation of a $1000m First Lien Term Loan B in USD (New Loan), with maturity in October 2029.
The New Loan was upsized from $750m to $1000m following strong demand from global credit investors. The proceeds of the New Loan will be used:
- to finance the acquisition of SuperSport (announced on 11 August 2022 and expected to complete during Q4), by Entain CEE, the new venture being formed by Entain and EMMA Capital; and
- to maximise Entain’s liquidity and provide further balance sheet flexibility. In particular, the acquisition of BetCity (announced on 14 June 2022 and expected to complete during Q4) will no longer require drawings on the Group’s revolving credit facility.
The New Loan was priced at Term SOFR + credit adjustment spread of 10 bps + margin of 350 bps and was allocated at 97.5. The Group intends to enter into hedging arrangements (including cross-currency swaps to effectively convert the entire borrowing into EUR, and fixed/floating interest rate swaps) which should result in an overall fixed cash cost of financing for the New Loan of approximately 6.2% until September 2024.
The New Loan is expected to fund by the end of October.
Gambling and Games policy
Google Updates its Gambling and Games Policy for the US
![google-updates-its-gambling-and-games-policy-for-the-us](https://igamingradio.com/wp-content/uploads/2024/07/132913-google-updates-its-gambling-and-games-policy-for-the-us.jpg)
Google will update its Gambling and Games policy for the US on July 15, 2024. The update will allow ads for lottery couriers in specific states, here are the areas:
Arizona, Arkansas, Colorado, District of Columbia, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, West Virginia, and Wyoming.
Advertisers must be licensed in at least one state that requires a license if they target states that do not require one. Certification is mandatory for advertisers. The policy page will reflect these changes when they take effect.
Industry News
Bragg Gaming Group to Attend the 2024 iGB Live in Amsterdam
![bragg-gaming-group-to-attend-the-2024-igb-live-in-amsterdam](https://igamingradio.com/wp-content/uploads/2024/07/132897-bragg-gaming-group-to-attend-the-2024-igb-live-in-amsterdam.jpg)
Bragg Gaming Group, a global iGaming technology and content provider, is set to showcase its top tier content and technology solutions at iGB Live 2024, taking place from July 16-19 in Amsterdam.
Powering leading iGaming brands in The Netherlands, the Czech Republic, and Croatia, Bragg is a leading PAM provider in The Netherlands with approximately 30% market share. The company offers modern and adaptable tech stack designed to meet complex regulatory requirements and enable the rapid deployment of custom, localised PAM solutions.
iGB Live is an exhibition and conference covering iGaming, including player acquisition, dedicated payments, sports betting, compliance, affiliation and binary/financial events. The IGB Live 2024 will unite operators, affiliate programmes and partners worldwide.
The post Bragg Gaming Group to Attend the 2024 iGB Live in Amsterdam appeared first on European Gaming Industry News.
Cardless Gaming
Ocean Casino Resort Launches Cardless Gaming Feature
![ocean-casino-resort-launches-cardless-gaming-feature](https://igamingradio.com/wp-content/uploads/2024/07/132861-ocean-casino-resort-launches-cardless-gaming-feature.jpg)
Guests at Ocean Casino Resort, a premier luxury casino destination known for state-of-the-art gaming, now have an easier and more convenient way to play. The resort launched Cardless Gaming, an all-new, fully integrated mobile experience, available via the Ocean Casino Resort Mobile App. Debuting as a first for New Jersey, this feature is designed to put the entire resort’s experience at guests’ fingertips as a one-stop-shop.
“The Ocean Casino Resort Mobile App takes our gaming experience to a new convenient level for avid gamers and fun-goers by providing a cardless option directly to the palm of their hands. By continuously adapting to evolving player preferences and utilizing advancing technology, Ocean solidifies its reputation as the premier gaming experience on the East Coast,” John Forelli, SVP and Chief Information Officer for Ocean Casino Resort, said.
The elevated player experience begins by logging into the Ocean Casino Resort Mobile App. Under “Account,” guests can scroll down to the “Cardless Gaming” section to select play slots or play table games. For table games, the final step is to simply present the QR Code to the dealer or Pit Boss. For slots, players have to select “Cardless Login” on the machine’s display and scan a QR Code to connect and card-in. Physical cards will continue to be accepted for those who prefer it, and in the near future players will also have a Cashless option to utilize. Ocean Casino Resort’s mobile app can be downloaded via the Apple App Store or Google Play Store.
Ocean presents an unparalleled gaming experience, complete with three high-limit slot (The Cove) and table games venues (The Loft and High Limit Table Games), two guest lounges for Ocean Rewards cardmembers, as well as pathways and wayfinders throughout the casino floor for guests to easily navigate between games. Ocean’s high-energy casino features exclusive ocean views, 1750 of the most exciting slot machines and 125 action-packed table games across 135,000 square feet of gaming space.
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