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INTERNATIONAL GAME TECHNOLOGY PLC ANNOUNCES CAPPED TENDER OFFER WITH RESPECT TO ITS 6.500% SENIOR SECURED NOTES DUE 2025 AND 3.500% SENIOR SECURED NOTES DUE 2024
International Game Technology PLC, announces the launch of an offer to purchase for cash (the “Tender Offer“) up to US$500,000,000 aggregate principal amount (the “Maximum Acceptance Amount“) of its outstanding US$1,100,000,000 6.500% Senior Secured Notes due 2025 (the “Dollar Notes“) and its outstanding €500,000,000 3.500% Senior Secured Notes due 2024 (the “Euro Notes“, and together with the Dollar Notes, the “Notes“), subject to the Acceptance Priority Levels set forth in the table below (with one (1) being the higher Acceptance Priority Level and two (2) being the lower Acceptance Priority Level) and the Dollar Offer Sub Cap (as defined below). The Tender Offer is made upon the terms and subject to the conditions set forth in the Offer to Purchase dated September 2, 2022 (the “Offer to Purchase“).
The Tender Offer will expire at 11:59 P.M. (New York City time) on September 30, 2022 (unless the Tender Offer is extended or terminated) (such time and date, as the same may be extended, the “Expiration Time“).
To receive the Total Dollar Consideration (as defined below), which includes an early tender premium of US$30.00 per US$1,000.00 principal amount of the Dollar Notes accepted for purchase pursuant to the Tender Offer (the “Early Dollar Tender Premium“) or the Total Euro Consideration (as defined below), which includes an early tender premium of €30.00 per €1,000.00 principal amount of the Euro Notes accepted for purchase pursuant to the Tender Offer (the “Early Euro Tender Premium“), Holders must validly tender and not validly withdraw their Notes prior to 5:00 P.M. (New York City time) on September 16, 2022 (unless the Tender Offer is extended or terminated) (such date and time, as the same may be extended, the “Early Tender Time“). Holders who tender their Notes may withdraw such Notes at any time prior to 5:00 P.M. (New York City time) on September 16, 2022.
Holders who validly tender their Dollar Notes or their Euro Notes after the Early Tender Time but at or prior to the Expiration Time will be eligible to receive only the Dollar Tender Offer Consideration (which is an amount equal to the difference between the Total Dollar Consideration and the Early Dollar Tender Premium) or the Euro Tender Offer Consideration (which is an amount equal to the difference between the Total Euro Consideration and the Early Euro Tender Premium), respectively.
The following table sets forth certain terms of the Tender Offer:
Title of Security |
ISIN/ Common Code or CUSIP |
Aggregate Principal Amount Outstanding |
Acceptance Priority Level(1) |
Maximum Acceptance Amount |
Offer Sub Cap(1) |
Tender Offer Consideration |
Early Tender Premium |
Total Consideration(2) |
6.500% Senior Secured Notes due 2025 |
Rule 144A: US460599AC74/ 460599 AC7 Regulation S: USG4863AAC20 / G4863A AC2 |
US$1,100,000,000 |
One (1) |
US$500,000,000 |
US$350,000,000 (the “Dollar Offer Sub Cap“) |
US$985.00(3)(4) (the “Dollar Tender Offer Consideration“) |
US$30.00(5) |
US$1,015.00(4) (the “Total Dollar Consideration“) |
3.500% Senior Secured Notes due 2024 |
Rule 144A: XS1844998192/ 184499819 Regulation S: XS1844997970/ 184499797 |
€500,000,000 |
Two (2) |
Not applicable |
€976.25(6)(7) the “Euro Tender Offer Consideration“) |
€30.00(8) |
€1,006.25(7) (the “Total Euro Consideration“) |
_____________________
(1) |
Subject to the Maximum Acceptance Amount and modified proration, the principal amount of Notes that is purchased pursuant to the Tender Offer will be determined in accordance with the applicable Acceptance Priority Level (in numerical priority order) specified in this column; provided that IGT will not accept for purchase Dollar Notes in an aggregate principal amount that is greater than the Dollar Offer Sub Cap. |
(2) |
The applicable Total Consideration equals the sum of the applicable Tender Offer Consideration and the applicable Early Tender Premium. |
(3) |
For each US$1,000.00 principal amount of the Dollar Notes tendered after the Early Tender Time and at or prior to the Expiration Time and accepted for purchase. |
(4) |
Does not include accrued interest, which will also be paid in addition to the Dollar Tender Offer Consideration or the Total Dollar Consideration (as applicable). |
(5) |
For each US$1,000.00 principal amount of the Dollar Notes tendered at or prior to the Early Tender Time and accepted for purchase. |
(6) |
For each €1,000.00 principal amount of the Euro Notes tendered after the Early Tender Time and at or prior to the Expiration Time and accepted for purchase. |
(7) |
Does not include accrued interest, which will also be paid in addition to the Euro Tender Offer Consideration (or the Total Euro Consideration (as applicable). |
(8) |
For each €1,000.00 principal amount of the Euro Notes tendered at or prior to the Early Tender Time and accepted for purchase. |
In addition to the Dollar Tender Offer Consideration, the Total Dollar Consideration, the Euro Tender Offer Consideration or the Total Euro Consideration (as applicable), all Holders of Notes accepted for purchase will also receive accrued and unpaid interest on such Notes, rounded to the nearest US$0.01 per US$1,000.00 principal amount of the Dollar Notes and €0.01 per €1,000.00 principal amount of the Euro Notes from the last interest payment date up to, but not including, the Early Settlement Date (as defined below) or the Final Settlement Date (as defined below) (as applicable).
Notes of one or both series may be subject to modified proration if the aggregate principal amount of Notes validly tendered and not validly withdrawn (with the aggregate principal amount of the Euro Notes converted to US dollars using the Exchange Rate) as of the Early Tender Time or the Expiration Time (as applicable) would cause the Maximum Acceptance Amount to be exceeded or the aggregate principal amount of the Dollar Notes validly tendered and not validly withdrawn as of the Early Tender Time or the Expiration Time (as applicable) would cause the Dollar Offer Sub Cap to be exceeded. Furthermore, regardless of the Acceptance Priority Level, Notes tendered at or prior to the Early Tender Time will be accepted for purchase in priority to Notes tendered after the Early Tender Time, and to the extent Notes are tendered at or prior to the Early Tender Time and accepted for purchase pursuant to the Tender Offer, the portion of the Maximum Acceptance Amount (which shall be applied subject to the Acceptance Priority Levels) and the Dollar Offer Sub Cap available for the purchase of Notes tendered after the Early Tender Time will be reduced or may be eliminated completely.
The Tender Offer is conditioned upon, among other things, IGT, in its sole and absolute discretion, being satisfied that it has received, or will receive, by the Early Settlement Date an amount of net proceeds of the sale of the shares of LIS Holdings S.p.A. by an indirect subsidiary of IGT to PostePay S.p.A. which would be sufficient to finance the payment by IGT of the sum of (1) the sum of the Total Dollar Consideration and the Dollar Tender Offer Consideration with respect to all Dollar Notes validly tendered and accepted for purchase pursuant to the Offer to Purchase and (2) the sum of the Total Euro Consideration and the Euro Tender Offer Consideration with respect to all Euro Notes validly tendered and accepted for purchase pursuant to the Offer to Purchase.
It is expected that payment for Notes validly tendered at or prior to the Early Tender Time will be made promptly following the Early Tender Time, on September 20, 2022 (the “Early Settlement Date“), and payment for Notes validly tendered after the Early Tender Time but at or prior to the Expiration Time will be made on October 4, 2022 (the “Final Settlement Date“).
Subject to applicable law and the terms and conditions of the Offer to Purchase, IGT may change the Acceptance Priority Levels and increase or decrease either or both of the Maximum Acceptance Amount and the Dollar Offer Sub Cap without extending the Early Tender Time or the Expiration Time or otherwise providing withdrawal rights. IGT may also terminate the Tender Offer, waive any or all of the conditions of the Tender Offer prior to the Expiration Time, extend the Expiration Time or amend the terms of the Tender Offer.
IGT has retained D.F. King & Co. to act as Tender and Information Agent for the Tender Offer. Questions regarding procedures for tendering Notes may be directed to D.F. King & Co.

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Former Entain exec Jez White joins BetComply
BetComply, iGaming’s most trusted technical and regulatory compliance firm, has hired the former Entain executive Jez White in a new role overseeing safer gambling and sustainability.
White joins BetComply as the firm’s first Safer Gambling & Sustainability Specialist, following more than eight years at Entain, where he served as Director of Player Protection Systems and Analytics. His expertise across responsible gaming, risk management, and player protection technology has been instrumental in shaping industry standards.
In his new position, White will design and implement safer gambling strategies, audit existing safer gambling models and design CRM strategies for BetComply clients.
Daniel Brookes, CEO of BetComply said: “We’re thrilled to welcome Jez, who has been at the very cutting edge of regulated online gaming for many years now. Few, if any, can match his level of expertise, and this is a major coup for BetComply and our partners. His insights and experience will be invaluable as we continue to set new benchmarks in compliance and sustainability.”
Jez White, Safer Gambling & Sustainability Specialist at BetComply, added: “I’m incredibly proud of the advancements made in player protection during my eight years at Entain, and I’m now excited to join BetComply. They have very quickly emerged as the leading compliance firm in our industry, and I’ll be contributing to their vision of creating a safer and more sustainable gaming sector.”
While at Entain, White led the implementation of an industry-leading safe gambling strategy that incorporated pattern recognition models and real-time interaction technology.
BetComply has been expanding its senior team over recent weeks. In February, Paola Menchem was brought in to lead its legal and regulatory compliance services.
The post Former Entain exec Jez White joins BetComply appeared first on European Gaming Industry News.
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Darts Player Prakash Jiwa Gets Eight-year Ban for Match Fixing
Darts player Prakash Jiwa has been banned from all Darts Regulation Authority (DRA) events for eight years after being found guilty of match-fixing and betting on darts.
The UK Gambling Commission’s Sports Betting Intelligence Unit (SBIU) supported the investigation by facilitating information gathered in the course of its enquiries.
Following a hearing before the DRA Disciplinary Committee on 21 January 2025, Jiwa was found guilty of fixing four matches and betting on darts. He was found not guilty of obstructing the enquiry.
The Committee has suspended him from playing in or being involved in any DRA-regulated events until 6 November 2031, provided he pays costs of £17,741.46 in full.
There is no suggestion that the other players in these matches were involved.
John Pierce, Commission Director of Enforcement, said: “All betting customers in Britain should have confidence that bets placed with licensed gambling businesses are on markets that are fair and free from betting-related corruption.
“Our Sports Betting Intelligence Unit works closely with partners such as the Darts Regulation Authority to support sporting integrity investigations and combat match-fixing. This decision sends a clear message that betting-related corruption in sport will not be tolerated.”
The post Darts Player Prakash Jiwa Gets Eight-year Ban for Match Fixing appeared first on European Gaming Industry News.
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HERO ESPORTS Asian Champions League: 6 Spots for Esports World Cup Up for Grabs in Teamfight Tactics Tournament
The HERO ESPORTS Asian Champions League (ACL), Asia’s premier multi-title esports tournament hosted by Asia’s leading Esports company Hero Esports, has announced that a total of six spots for the Esports World Cup are up for grabs in ACL Teamfight Tactics Tournament. Details regarding the tournament format, schedule and prize pool have also been unveiled.
The ACL Teamfight Tactics Tournament is set to commence on April 15 and will conclude on May 18. The total prize pool for the tournament amounts to $150,000, with six teams earning direct entry to the Esports World Cup.
Unlike previous Teamfight Tactics events, the ACL Teamfight Tactics Tournament features a 4V4 team battle format. This emphasis on teamwork will offer the audience a fresh and engaging viewing experience.
The ACL Teamfight Tactics Tournament is structured into three stages: Regional Qualifiers, Asian Challenge and ACL Grand Finals.
Registration for the tournament will open on March 23 and close on March 31. Teams must register in groups of four players. The Regional Qualifiers will be divided into APAC and CN regions. The eight highest-ranking teams from the APAC region and the seven highest-ranking teams from the CN region will qualify for the Regional Qualifiers. Team rankings are determined by the total points accumulated by the top three players in each team at the registration deadline. These points are calculated based on performance in the TFT Open, Tactician’s Crown and Regional Finals over the latest three seasons.
In the Regional Qualifiers, four teams from each region (APAC and CN region) will advance to the Asian Challenge through online competitions. The APAC Qualifier will take place from April 15 to 18, whereas the CN Qualifier is scheduled from April 24 to 27. Additionally, the top three teams from each region will secure spots in the Esports World Cup, while the fourth and fifth teams from each region will qualify for the Last Chance Qualifier of EWC.
In the Asian Challenge, which will take place from May 8 to 11, a total of eight teams from the Regional Qualifiers will compete for three spots in the Finals.
The post HERO ESPORTS Asian Champions League: 6 Spots for Esports World Cup Up for Grabs in Teamfight Tactics Tournament appeared first on European Gaming Industry News.
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