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Gaming and Leisure Properties Announces a Tender Offer for Up to $500,000,000 Outstanding 4.875% Senior Notes Due 2020
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Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI”), the first gaming-focused real estate investment trust in North America, announced today that its operating partnership, GLP Capital, L.P. (the “Operating Partnership”), and GLP Financing II, Inc., a wholly owned subsidiary of the Operating Partnership (together with the Operating Partnership, the “Issuers” and the Issuers collectively with GLPI, the “Company”), have commenced a cash tender offer (the “Offer”) to purchase up to $500,000,000 of the Issuers’ outstanding $1,000,000,000 aggregate principal amount of 4.875% Senior Notes due 2020 (CUSIP No. 361841 AD1) (the “Notes”), which Notes are fully and unconditionally guaranteed by GLPI.
The following table sets forth some of the terms of the Offer:
Title of Security |
CUSIP Number |
Principal Amount Outstanding |
Tender Cap (Principal Amount) |
Reference U.S. Treasury Security |
Bloomberg Reference Page(1) |
Fixed Spread (basis points) |
Early Tender Premium (per $1,000) |
|||
4.875% Senior Notes due 2020 |
361841 AD1 | $1,000,000,000 | $500,000,000 | 1.625% UST due 7/31/2020 |
FIT3 | 50 bps | $30.00 |
(1) The applicable page on Bloomberg from which the Dealer Manager will quote the bid-side price of the reference U.S. Treasury Security. In the above table, “UST” denotes a U.S. Treasury Security.
The Offer is being made upon, and is subject to, the terms and conditions set forth in the Offer to Purchase, dated August 15, 2019 (the “Offer to Purchase”), and the related Letter of Transmittal. The Offer will expire at 11:59 p.m., New York City time, on September 12, 2019, unless extended or earlier terminated by the Company (the “Expiration Date”). Tenders of Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on August 28, 2019 (the “Early Tender Deadline”), but may not be withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law.
The total consideration (the “Total Consideration”) paid in the Offer for Notes that are validly tendered and not withdrawn at or prior to the Early Tender Deadline and accepted for purchase will be determined in the manner described in the Offer to Purchase by reference to a fixed spread over the yield to maturity of the Reference U.S. Treasury Security specified in the table above and in the Offer to Purchase and will include an early tender premium of $30.00 per $1,000 principal amount of the Notes accepted for purchase (the “Early Tender Premium”). Holders of Notes who validly tender their Notes following the Early Tender Deadline and on or prior to the Expiration Date will only receive the applicable “Tender Offer Consideration” per $1,000 principal amount of any such Notes tendered by such holders that are accepted for purchase, which is equal to the Total Consideration minus the Early Tender Premium. The Total Consideration will be determined at 10:00 a.m., New York City time, on August 29, 2019 unless extended by the Company (the “Tender Offer Price Determination Date”).
Tenders of Notes will be accepted only in principal amounts equal to $2,000 or integral multiples of $1,000 in excess thereof. Holders who tender less than all of their Notes must continue to hold Notes of such series in the minimum authorized denomination of $2,000 principal amount or an integral multiple of $1,000 in excess thereof.
Payments for Notes purchased will include accrued and unpaid interest from and including the most recent interest payment date for the Notes up to, but not including, the applicable settlement date. The settlement date for Notes that are validly tendered on or prior to the Early Tender Deadline (the “Early Settlement Date”) is expected to be August 30, 2019, subject to all conditions to the Offer having been either satisfied or waived by the Issuers. The settlement date for the Notes that are tendered following the Early Tender Deadline but on or prior to the Expiration Date is expected to be September 16, 2019 (the “Final Settlement Date”), subject to all conditions to the Offer having been either satisfied or waived by the Issuers, assuming Notes having an aggregate principal amount equal to the Tender Cap are not purchased on the Early Settlement Date.
Subject to the Tender Cap, all Notes validly tendered and not validly withdrawn on or before the Early Tender Deadline will be accepted before any Notes validly tendered after the Early Tender Deadline. Even if the Offer is not fully subscribed as of the Early Tender Deadline, subject to the Tender Cap, Notes validly tendered and not validly withdrawn on or before the Early Tender Deadline will be accepted for purchase in priority to Notes tendered after the Early Tender Deadline.
Notes may be subject to proration if the aggregate principal amount validly tendered and not validly withdrawn would cause the Tender Cap to be exceeded. Furthermore, if the Offer is fully subscribed as of the Early Tender Deadline, holders who validly tender Notes following the Early Tender Deadline will not have any of their Notes accepted for payment.
The Company’s obligation to consummate the Offer is subject to the satisfaction or waiver of certain conditions, which are more fully described in the Offer to Purchase, including, among others, the Issuers’ receipt of aggregate proceeds (before underwriter’s discounts and commissions and other offering expenses) of at least $500 million from an offering of new senior notes, on terms satisfactory to the Issuers. There can be no assurance such conditions will be satisfied.
Wells Fargo Securities, LLC is acting as dealer manager and solicitation agent for the tender offer and the consent solicitation. The tender agent and information agent for the tender offer is D.F. King & Co., Inc. Questions regarding the tender offer and consent solicitation may be directed to Wells Fargo Securities, LLC at (704) 410-4759 (collect) or (866) 309-6316 (U.S. toll-free). Holders who would like additional copies of the offer documents may call the information agent, D.F. King & Co., Inc. at (212) 269-5550 (collect, for banks or brokers) or (800) 283-3192 (toll-free, for all others) or by e-mail at [email protected].
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The tender offer is being made solely by means of the Offer to Purchase and the related Letter of Transmittal that the Company is distributing to holders of Notes.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gaming and Leisure Properties Announces a Tender Offer for Up to 0,000,000 Outstanding 4.875% Senior Notes Due 2020
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Among the Select Few European Operators Listed on Oracle’s Global Tech Map
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This makes Meridianbet the first and only betting company from Southeast Europe to receive this recognition for its AI-driven approach to customer engagement, automation, and scalable marketing solutions. Oracle’s Global Reference Page serves as a benchmark for enterprise success stories, listing only the most innovative and effective deployments of Oracle’s elite technology worldwide.
The complete story is available at: oracle.com/customers/meridianbet/
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This recognition underscores Meridianbet’s leadership in AI-powered marketing, automation, and player engagement—setting a new benchmark for sports betting and iGaming operators worldwide.
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Meridianbet turned to Oracle tools to create a fully integrated real-time marketing and player engagement systems. This setup allows for instant customer segmentation, AI-driven personalization, and automated customer re-engagement campaigns. By analyzing player activity and response patterns, Meridianbet’s system identifies optimal moments to engage users, significantly improving retention and marketing efficiency.
Instead of mass promotions, Meridianbet’s AI model adapts in real time, sending highly targeted offers to players based on their habits and preferences, maximizing impact while controlling costs.
Precision-Driven Growth Through AI and Automation
Oracle’s tools have enabled Meridianbet to streamline marketing, optimize automation, and improve predictive analytics, making customer retention more efficient than ever. By segmenting players based on key behavioral indicators—such as last login, wagering patterns, and deposit history—the system automatically deploys personalized incentives at the right time.
The data-driven approach has improved customer lifecycle value, lowered acquisition costs, and increased engagement efficiency while ensuring strict compliance with industry regulations.
B2B and B2C Expansion: Strengthening Market Leadership
Meridianbet’s AI-powered engagement model doesn’t just enhance its direct-to-consumer business—it also reinforces its B2B partnerships. The company provides scalable, technology-driven solutions for operators seeking AI-backed marketing automation and real-time engagement tools.
Being featured on Oracle’s Global Reference Page further validates Meridianbet’s standing as a technology-first company in the gaming sector, making it a high-value partner for operators looking to enhance engagement through enterprise-grade AI.
A Tech-First Operator in the 5% Club, Also Licensed in Brazil
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The post Meridianbet (GMGI) Listed on Oracle’s Global Tech Reference Page appeared first on European Gaming Industry News.
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Mark Jepp, who was named Game Nation CEO in September 2024, believes the two new appointments will add both experience and creativity to the business. He stated: “Eric Howell began his gaming industry career with Coral Social Clubs in 1989 and has gained hands-on experience working across the Bingo, Casino and Licensed Betting Office sectors.
“His most recent post was with Mecca where he was instrumental in the revitalisation of the brand’s slots operation. With a commitment to the delivery of ethical, customer-focussed entertainment he brings huge credibility to the Game Nation business.”
He added: “Sharon has over a decade of experience working in the sector and is someone who really understands machine players. Her creativity and passion for the business will be key in helping Game Nation to achieve its full potential on the high street.”
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The post Game Nation add to team with Compliance and Marketing appointments appeared first on European Gaming Industry News.
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The AIBC Eurasia Awards celebrate pioneering projects and game-changing ideas that shape the future of iGaming. Being named a finalist is a testament to Atlaslive’s continuous drive to push the boundaries of what’s possible in the sports betting sector.
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- Real-time data analytics for strategic decision-making
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- Innovative Bet Builder feature for enhanced user interaction
With these capabilities, Atlaslive empowers operators to stay ahead in an evolving global market, driving engagement, boosting retention, and maximizing growth opportunities.
Lidiia Vakulenko, COO of Atlaslive, expressed her excitement about the recognition: “Being shortlisted for ‘Best Sports Provider 2025’ validates the hard work and dedication of our team in developing one of the most advanced sportsbook solutions in the industry. Our innovation, unique features, and technical excellence continue to set us apart, and we remain committed to pushing the boundaries of what’s possible in sports betting technology.”
Atlaslive continues to innovate, offering operators unparalleled technology and seamless integration to enhance their business success. This recognition by SiGMA Eurasia underscores the company’s mission to revolutionize the iGaming industry with state-of-the-art sportsbook solutions.
About Atlaslive
Atlaslive, formerly known as Atlas-IAC, underwent a rebranding campaign in May 2024. It is a B2B software development company that specializes in creating a multifunctional and automated platform to optimize the workflow of sports betting and casino operators. Key components of the Atlaslive Platform include Sportsbook, Casino, Risk Management and Anti-Fraud Tools, CRM, Bonus Engine, Business Analytics, Payment Systems, and Retail Module. Follow the company on LinkedIn to stay updated with the latest news in iGaming technology.
The post Atlaslive Shortlisted for “Best Sports Provider 2025” at SiGMA Eurasia Awards appeared first on European Gaming Industry News.
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