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Scientific Games Announces Successful Completion of Financing Transactions

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Scientific Games Announces Successful Completion of Financing TransactionsReading Time: 3 minutes

Las Vegas, Feb. 14, 2018 – Scientific Games Corporation (NASDAQ: SGMS) (“Scientific Games” or “the Company”) announced that its wholly owned subsidiary, Scientific Games International, Inc. (“SGI”), successfully completed a series of financing transactions, including (i) a private offering of $900 million additional aggregate principal amount of its 5.000% senior secured notes due 2025 (the “New 5.000% Dollar Notes”) at an issue price of 100.0%; (ii) a private offering of €325 million of new 3.375% senior secured notes due 2026 (the “Euro Secured Notes”) at an issue price of 100.0%; (iii) a private offering of €250 million of new 5.500% senior unsecured notes due 2026 (the “Euro Unsecured Notes,” and, together with the Euro Secured Notes and New 5.000% Dollar Notes, the “New Notes”) at an issue price of 100.0%; (iv) a $900 million upsizing and repricing of its term loan B facility under its credit agreement that reduced the applicable interest rate on the term loans to LIBOR plus 275 basis points, which was a 50-basis point reduction, and (v) an increase in the availability under the revolving credit facility to $620.2 million through October 18, 2018, with a step-down in availability at that time to $445.7 million until the extended maturity date on October 18, 2020.

The net proceeds of the financing transactions will be used to redeem all $2,100 million of the Company’s 7.000% senior secured notes due 2022 (the “2022 Notes”), prepay a portion of the borrowings under its revolving credit facility, including accrued and unpaid interest thereon and pay related premiums, fees and expenses of the transactions. Including the effect of cross-currency interest rate swap arrangements, the net impact of the financing transactions will be to lower the Company’s annual cash interest cost by approximately $69 million at current rates, while extending maturities of $2,100.0 million of its debt from 2022 out to 2024, 2025, and 2026. The New Notes are guaranteed on a senior basis by Scientific Games and certain of its subsidiaries. The New 5.000% Dollar Notes and the Secured Euro Notes are secured by liens on the same collateral that secures indebtedness under Scientific Games’ credit agreement, the 2022 Notes, and the existing 5.000% senior secured notes due 2025 (the “Existing Notes”). The Company also entered into new floating-to-fixed interest rate swaps and will remain focused on growing cash flow and deleveraging. 

The New 5.000% Dollar Notes were issued under the same indenture pursuant to which SGI previously issued $350 million of the Existing Notes. The New 5.000% Dollar Notes and the Existing Notes are treated as a single series of debt securities for all purposes under that indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase.  The New 5.000% Dollar Notes have terms identical to the Existing Notes, other than issue date and offering price and have the same CUSIP and ISIN numbers as, and trade together with, the Existing Notes, except that the New 5.000% Dollar Notes issued in offshore transactions under Regulation S shall be issued and maintained under a temporary CUSIP number during a 40-day distribution compliance period commencing on the issue date.

The New Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The New Notes are offered only to qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act. The New Notes are not being offered, sold or otherwise made available to any retail investor in the European Economic Area.

 

This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the New Notes, nor will there be any sale of the New Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.


Source: European Gaming Media and Events

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NSoft brings iGaming Future to february London event

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The sports betting technology provider NSoft will be showcasing its comprehensive suite of products including a full Sportsbook platform, Virtual games and the latest innovations in AI solutions at ICE London 2019.

NSoft’s Self-Managed Pre Match application is fully integrated into Seven Platform and gives the betting operators full autonomy of sports events creation, odds management and risk management. Except for already supported option of importing Betradar Unified Odds Feed, the customer has the ability to manually create any sport, tournament, market and event, as well as to resolve the markets.

The upcoming ICE London 2019 is the only B2B gaming event that truly brings together the international online and offline gaming sectors. During this event, held from February 5 to February 7, 2019, NSoft’s focus shall be on promotion of new products and comprehensive business solutions.

NSoft team is performing the latest product polishing before presenting it to the industry’s leading stakeholders. This year we shall be hosting you on our stand with impressive design and demo zones.

Don’t miss out on the chance to find out more about NSoft’s products. Please meet us at Stand S1-260. Book a meeting with our team or contact sales@nsoft.com.

 


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: NSoft brings iGaming Future to february London event

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PointsBet enters the legal New Jersey betting market

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PointsBet into the legal New Jersey betting marketReading Time: 1 minute

 

PointsBet has launched its online sports betting platform in New Jersey, had become the ninth operator to enter the legal New Jersey sports betting market. PointsBetting is essentially a high-risk form of spread-betting that rewards players with more money.

The company explained how PointsBetting works: “If a user bets $10 on the over, and the total ends 10 points over, that nets users $100. Stop-loss settings are able to be set by a bettor if they wish to limit their win and loss position. Users will still be able to make fixed odds wagers, which give a simple win-or-lose scenario.”

New Jersey residents can access PointsBet in web browsers via PointsBet.com or by downloading the PointsBet mobile app for Android or iOS.

Johnny Aitken, PointsBet US CEO said: “We’re extremely excited to bring PointsBet’s premium and game-changing sportsbook and signature betting options to the US.

“By offering some of the world’s sharpest betting offers and prices, we have the back of all sports bettors, no matter how sophisticated they are, and we’re serious about offering a one-of-a-kind VIP betting experience.”

PointsBet is also partnered with Tioga Downs Casino in New York and will launch sports betting operations in New York if the state moves to legalise sports betting.

 


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PointsBet enters the legal New Jersey betting market

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FDJ aims digital transformation to fuel its development

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FDJ aims digital transformation to fuel its developmentReading Time: 2 minutes

 

FDJ Group announced €15.8 bn in player stakes in 2018. FDJ distributed €10.7 bn to players, a return rate of nearly 68%, an increase close to 1 point over 2017.

Stéphane Pallez, Chairman and Chief Executive Officer of FDJ Group said “The continued growth in player stakes reflects the good execution of our FDJ 2020 strategy around areas such as innovation and digital, enhancing the appeal of our games and distribution channels. 2018 has been characterised by numerous successes, notably Mission Patrimoine games, illustrating FDJ’s redistribution model. These results underpin our ambition to anticipate changes in the gaming and entertainment sector to increase the Group’s leadership with richer and innovative gaming experiences”.

 The FDJ 2020 strategic plan aims at accelerating the Group’s digital transformation to fuel its development. In 2018, the group got benefited from increase in digitalisation of all games. This success confirms our strategic goal of reaching 20% by 2020. This digital growth was driven by online gaming as well as electronic player stakes at points of sale.

ParionsSport sports betting posted strong gains in player stakes. FDJ is one of the Top 10 sports betting operators worldwide. Player stakes recorded during the World cup reached €333 m, an increase of +75% over the 2014 event, mostly attributable to the French team’s performance. The overall trend remained strong, with +8% growth in non-World Cup player stakes.

ParionsSport also signed major four-year partnerships with four leading French football clubs (Olympique de Marseille, Olympique Lyonnais, AS Monaco, and FC Nantes), and launched the “Parions Club” challenge with each of them, giving the top punters in each club a VIP treatment in stadiums or at points of sale, in addition to their winnings.

Player stakes in lottery, instant lottery and draw-based games, grew 1.1% to €12,770 m. Player stakes on instant lottery games (scratch-card games in point of sale and digital) continued to grow, +3.2% to €7694 m.

Digitalisation drives growth in all lottery games, whether instant lottery or draw-based games. On-line lottery games were up +12% thanks to the steady increase in new players, with close to 1.9 million players at the end of 2018, and very frequent marketing events in the online gaming portfolio, with a launch, a relaunch, or a modification every week.

In 2018, FDJ stopped charging rent for point of sale equipment and started paying commission on promotional and free coupons. This year, a new commission structure has been introduced, with different rates across the various product lines and price ranges. In this context, net commissions earned by FDJ retailers were €785 m in 2018, up 5.7% on 2017.

After internalising its sales force and setting up its own logistics, FDJ has completed its business transformation and has direct control of its network.

The Group has continued to make substantial investments in points of sale, specifically in technology and equipment.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: FDJ aims digital transformation to fuel its development

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