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AGS Announces Repricing of Existing $509 Million Term B Loans; Commitments Secured for Additional $30 Million Term Loans

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AGS Announces Repricing of Existing $509 Million Term B Loans; Commitments Secured for Additional $30 Million Term LoansReading Time: 2 minutes

 

Significant milestone towards successful completion of credit-improvement initiatives

 

AGS (NYSE: AGS) (or the “Company”), a leading designer and supplier of electronic gaming machines, table products, and interactive solutions for the gaming industry, today announced that it has successfully repriced its existing $509 million in Term B Loans, and secured commitments from lenders for an additional $30 million in terms loans under its existing credit agreement.

The Term B Loans amendment, effective October 5, 2018, reduced the interest rate spread 75 basis points from LIBOR plus 425 basis points to LIBOR plus 350 basis points. The LIBOR floor remains at 100 basis points.  The interest rate reduction will be 100 basis points if, at any time, the Company receives a corporate credit rating of at least B1 from Moody’s. As a result of the repricing, the Company expects to realize annual cash interest savings of approximately $3.8 million. The repriced term loans continue to be due in full in February 2024.

The new $30 million term loan facility closed and funded October 5, 2018. Initial drawn pricing for the aggregate amount of the outstanding term loan is set at LIBOR plus 350 basis points.

AGS intends to use the proceeds from the financing for general corporate purposes and additional capital to accelerate growth.

AGS President and Chief Executive Officer David Lopez said, “We have been very pleased with the strong support among our lenders, which has resulted in reduced interest rates and very attractive terms for our new loan facility. Today’s announcement represents another milestone towards AGS’ growth and commitment to a strong credit profile.”

About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, but our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, highly rated social casino solutions for players and operators, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at www.playags.com.

All® notices signify marks registered in the United States.  All ™ and ℠ notices signify unregistered trademarks.

 

Source: AGS


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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Lottomatica Group FY 2024 financials and 2025 guidance

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Game Sales for Good: Kalypso Media and Humble Bundle Partner to Raise Funds for Charity

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$77,000 Raised: Supporting Oceana, One Tree Planted, and More

Publisher Kalypso Media proudly reports their initiative through partnership with Humble Bundle, raising $77,000 to support a wide variety of charities, including Oceana, One Tree Planted, Child’s Play, WWF, and Movember in 2024.

“We believe it is our responsibility at Kalypso Media to support global causes, and we are honoured to work alongside Humble Bundle to do so,” said Anika Thun, Managing Director of Kalypso Media. “Empowering gamers to enjoy our products while making a difference to meaningful causes, connects us to a larger purpose made possible through the joy of video games.”

“At Humble, we’ve always believed in the power of gaming to create positive change. Our partnership with Kalypso Media exemplifies our ongoing mission to support meaningful global causes and empower gamers to make a difference,” said Kamini Tiwari, VP of Social Impact at Humble.

Among the charities supported, there was a significant focus on environmental conservation, with Oceana and One Tree Planted. These charities focus on protecting and restoring some of our planet’s most vulnerable resources. Oceana focuses on ocean conservation and protection, including threats of overfishing, habitat destruction, oil and plastic pollution, and threatened species. One Tree Planted is dedicated to global reforestation, providing a simple way for anyone to become involved in nurturing the planet, protecting life, and inspiring hope through the power of trees.

Kalypso Media is dedicated to continuing its efforts to support global causes in 2025 and looks forward to providing ways for Kalypso Media gamers to become involved.

For more information on these charities, Humble Bundle and how you can personally support, please visit:

  • Oceana – oceana.org/
  • One Tree Planted – onetreeplanted.org/
  • Humble Bundle – humblebundle.com/

 

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ZITRO SECURES THE PRESTIGIOUS EILERS & KREJCIK GAMING (EKG) AWARD FOR LATAM’S TOP-PERFORMING GAME OF THE YEAR

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Zitro is proud to announce that Mighty Hammer Link Up has been honored with the Eilers & Krejcik Gaming (EKG) Award for the Top Performing Game in Latin America.

This prestigious accolade further solidifies Zitro’s leading position in the region, a fact underscored by the Eilers & Krejcik—Fantini report released this January, which ranked Zitro #1 with a performance index of 2.61x.

“We are absolutely delighted to receive this award. Mighty Hammer is undeniably a phenomenal success, captivating players across Latin America in both its LAP and WAP configurations,” stated Sebastián Salat, Zitro’s President-International. “This award is a testament to the hard work and dedication of our entire team and reinforces our unwavering commitment to developing innovative and engaging products for players throughout the region. We sincerely thank our Latin American clients for their continued support and unwavering trust in our offerings.”

Building on this momentum, Zitro will showcase its new CONCEPT cabinet line and exciting new games at the upcoming Zitro Experience Argentina on Tuesday, March 18th, during the same week of the SAGSE’25 trade show. We look forward to seeing you there!

 

The post ZITRO SECURES THE PRESTIGIOUS EILERS & KREJCIK GAMING (EKG) AWARD FOR LATAM’S TOP-PERFORMING GAME OF THE YEAR appeared first on European Gaming Industry News.

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