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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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Kinguin Launches API Giving Merchants Access to Inventory and Award Winning Customer Support

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Kinguin Launches API Giving Merchants Access to Inventory and Award Winning Customer SupportReading Time: 2 minutes

 

Kinguin, one of the world’s leading online retailers in the video and PC game industry today announced the launch of the Kinguin application programming interface (API) for e-commerce. The newly released API is free to qualified online retailers and makes it easy to list, price, and sell thousands of video games while using Kinguin’s award-winning Customer Support and automated order-processing.

With the Kinguin e-commerce API, retailers gain access to a virtually endless supply of CD keys via Kinguin’s robust video and PC game catalog, eliminating traditional online store needs of inventory management and control, while offering larger, more diverse selections of products. Retailers can immediately add up to 15,000 games with customizable attributes such as pricing, descriptions and more to their existing store offerings.

Customers pay the participating store directly as normal, then, without any middlemen or delays, orders are automatically processed by Kinguin. Game keys are immediately dispatched once an automated purchase information has been received. Problems regarding game keys or transactions will be handled completely, professionally and immediately via Kinguin’s award-winning customer service channels – simplifying the purchasing experience for merchants and gamers.

“The mission of the Kinguin API for e-commerce is to make it easier for any e-commerce store to distribute virtual products. In this way, businesses can take advantage of the large volume of products available at Kinguin.net quickly, easily, and profitably,” says Kamil Grabowski, Project Manager behind Kinguin’s API for e-commerce. “Our goal is to satisfy the gaming community, both players and merchants, and with this API, it’s going to be easier than ever.”

To apply for the Kinguin API e-commerce solution, please apply here.

About Kinguin:
Founded in 2013, Kinguin has fast become the largest alternative marketplace to Steam, Origin, and Battle.net, with more than 7 million loyal customers globally. Kinguin’s mission is to create an ecosystem built for the gamer. To achieve this, Kinguin provides easy and secure access to games, innovative ways for gamers to trade and conduct commerce, and new ways for developers to reach customers directly. Kinguin is also involved with esports, esports venues, and esports centers of excellence worldwide. Visit https://www.kinguin.net and https://www.kinguin.io for more information.


Source: European Gaming Media

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Leap Gaming launches Instant Football

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Leap Gaming launches Instant FootballReading Time: 1 minute

 

Leap Gaming, a developer of 3D multi-platform casino and gaming solutions, has launched its latest game, titled Instant Football.

It provides an on-demand football experience through both desktop and mobile devices. Its hallmarks are realistic animated action and fast-paced betting options.

The interface is characteristically simple and intuitive. It features 16 teams. Its other features include the option to browse between games, on-demand activation of games and the ability to skip scenes and matches for faster betting.

Instant Football offers a broad range of betting markets, including home and away teams, and Rebet and Rebet*2 on the same teams – all of which are available 24/7.

Video footage has been created using motion capture technology to record professional players and scans of real stadiums, and is voiced with professional commentary.

The game also offers a range of customisable options, including the UI and UX, languages (the game automatically adjusts to location), currency and betting limits.

It is available directly through Leap Gaming, or via 1X2 Network, SG Digital and other selected platforms.

Yariv Lissauer, CEO of Leap Gaming, said: “Instant Football is one of our most complete game to date, and combines stunning graphics with professional commentary with a wide range of betting options to deliver a truly world-class player experience.

“Virtuals are becoming increasingly popular as players demand round the clock access to sports events and games, and we can certainly deliver this via titles such as Instant Football.”

 

Source: interGameOnline


Source: European Gaming Media

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NOVOMATIC Lottery Solutions wins Norsk Tipping’s competition

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NOVOMATIC Lottery Solutions wins Norsk Tipping’s competitionReading Time: 1 minute

 

NOVOMATIC Lottery Solutions (NLS), a full-service lottery provider based in Austria, has won a mini competition conducted by Norsk Tipping to find a suitable supplier of the digital version of the lottery’s most popular scratch game “Million Flax”.

“Million Flax” is one of the core products in Norsk Tipping’s portfolio of physical scratch games and it has won a great brand recognition since its launch in 1995. NLS offered not only a smooth transition of all elements from the physical ticket to its digital version but also proposed attractive and playful animations that can further enhance players’ retention.

“We are very happy that once again our offering has proven to be the best fit for Norsk Tipping’s sophisticated online games portfolio. It was a competitive bid and the fact that we won based on quality is another validation of NLS’ innovative approach to the eInstant game category” – explained Pall Palsson, Director of Product Management at NLS.

This win comes as part of the contract that NLS inked with Norsk Tipping in March 2017, following a competitive tender procedure. Under the terms of the contract, NLS supports the growth and diversity of lottery’s e-Instant portfolio and provides business development expertise in the area of interactive games.


Source: European Gaming Media

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