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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 Tenders of Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on August 28, 2019 (the “Early Tender Deadline”), but may not be withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law.

The total consideration (the “Total Consideration”) paid in the Offer for Notes that are validly tendered and not withdrawn at or prior to the Early Tender Deadline and accepted for purchase will be determined in the manner described in the Offer to Purchase by reference to a fixed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

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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ScatterKings debuts in iGaming market with portfolio of vibrant, hand-crafted slots

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Industry veterans unveil passion project studio promising premium games and cutting-edge tech

 ScatterKings has launched into the market with an electrifying mission – to shake up an online casino vertical saturated with cookie-cutter content.

A true labour of love from battle-tested developers, the brand-new studio, years in the making, is channelling its expertise into games crafted with soul.

Leading the charge is Coins of Cleo, which has already been released alongside Genie’s Golden Lamps, Big Bob and their signature Gold Lock games. Each one is a testament to what happens when proven mechanics meet genuine artistic vision.

Every game features hand-drawn graphics developed with meticulous care, combining traditional craftsmanship with cloud-native, AI-enhanced technology that powers seamless performance. This is entertainment built by hands and hearts, not automated processes.

With focus on key, strategic partnerships, ScatterKings will also craft bespoke content for operators, blending premium production values with localised themes that resonate with players.

The studio’s founding trio brings decades of combined industry expertise, all formerly holding senior positions with NOVOMATIC’s interactive division. Steven Batchelor-Manning (Chief Technology Officer), Boro Brumen (Chief Product Officer) and Steven Cross (Chief Commercial Officer) lead a growing global team focused on product excellence and commercial expansion.

The studio has regulatory compliance baked into its core, with its sights set on launching its content in numerous European jurisdictions within the next few months.

Steven Cross, CCO at ScatterKings, said: “After years of hard work behind the scenes, we’re buzzing to officially launch into the iGaming market. There are some truly great studios in this industry, but the overall quality is dropping as the market becomes increasingly saturated. What we need isn’t more games – we need better ones full of personality and genuine craftsmanship.

“Operators are at the heart of our roadmap, and we have some major strategic partnerships coming that we’re excited to announce. We have a hugely talented team behind us, blending hand-crafted creativity with advanced AI-driven technology to build content with passion — titles players know they can trust. We can’t wait to introduce our content to players, and we’re only just getting started.”

The post ScatterKings debuts in iGaming market with portfolio of vibrant, hand-crafted slots appeared first on European Gaming Industry News.

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Sweepmate launches to blend thrill of sweepstakes, fantasy sports and trading for fans

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  • Real-money prediction app designed to fill a current void in the UK market

  • Unique player-vs-player game mechanics designed to add excitement to every Premier League gameweek 

  • UKGC-licensed pool-based product launched on iOS and Android

Sweepmate, a new real-money, pool-based gaming platform, has launched to provide a “sweepstake with a twist” for sport fans in the UK.

Sweepmate, available on iOS and Android, blends the familiarity of a traditional sweepstake, the excitement of fantasy sports and the strategy of trading to give players a unique way to engage with events. The app has launched with Premier League predictions, with further events and sports planned in the coming months.

On Sweepmate, the Premier league table resets every single week and the standing can be seen live in app, with data provided by leading data providers Sportradar.

Sweepmate’s platform facilitates UKGC-licensed pool-based gameplay but does not itself act as a bookmaker or take positions on outcomes.

The prize pool, determined by the number of entrants, is split between players who make successful predictions, with 50% awarded to the team finishing first, 20% to the team finishing fourth and 30% to the team finishing last in a given Sprint.

Another twist comes as players have the option to trade teams during the Sprint, known as “Sweeping”.

Sweepmate was granted a UKGC licence earlier this year and is being officially launched ahead of this weekend’s Premier League fixtures.

Sweepmate is founded by Lloyd Bidder, assistant director at one of the Big Four accountancy firms, and Johnny Barnes – founder of soft drinks company Soho Juice Co, a non-carbonated beverage sold across three continents.

 

Picking up where Draftkings left off

Barnes said: “The ambition is to fill the void that Draftkings have left with a novel, original game. The format can apply across almost any sports and entertainment event – from the Euros to Eurovision.

“Sweepmate is simple: pick three teams and if they finish first, fourth or last then you win. No new teams are minted 90 minutes before kick-off so there’s a great scarcity value and you can buy or sell teams during the gameweek.

“Sweepmate is not a bookie as we don’t set odds or take a position. Because we’re a pool-based game, we want people to win and we try to provide as much information as possible to players. We pride ourselves on customer service and offer free weekly preview and review shows as well as a complimentary concierge service.

“Our goal is to create a product that keeps fans engaged right across the weekend, whether their favourite club is winning or not. It’s about adding an extra layer of excitement to the Premier League and giving players a reason to stay invested in every result.”

Leeds are top of the league?

Sweepmate’s unique scoring method means the table at the end of each Sprint doesn’t always look the same as the Premier League table. Teams are ranked based on goal difference, goals scored, shots on and off target, and red and yellow cards.

After 11 Premier League gameweeks so far, nine different teams have finished first, nine different teams have finished fourth and eight different teams have finished last.

Late drama in matches has had a significant bearing on each week’s standings, nine of 11 weeks decided after 80 minutes, and eight of them decided after 90 minutes. Two of the 11 weeks were decided by the final match of the gameweek.

Last season Tottenham had the joint-most first-place finishes in Sweepmate, despite finishing 17th in the Premier League. So far this season, both West Ham and Leeds have finished top and bottom in different weeks.

Sweepmate is designed to provide excitement across the entire Premier League gameweek. As an example in gameweek eight (October 18th to 20th), fourth place was determined by a goal in the last minute of the last game (West Ham vs Brentford) and in seven of the eight Premier League game weeks played so far positions have changed due to goals in the 82nd minute or later.

Download Sweepmate on iOS and Android.

The post Sweepmate launches to blend thrill of sweepstakes, fantasy sports and trading for fans appeared first on European Gaming Industry News.

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EGT to reveal advanced Supreme cabinets and multigame mixes at BEGE Expo 2025

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EGT will send off this year’s gaming events season with another memorable participation in BEGE Expo. Traditionally, guests will be able to enjoy a wide selection of brand-new innovative products and bestsellers, as well as other surprises at the company’s stand 2.22 on November 26th and 27th.

Following their recent successful debut, the two new models from EGT’s Supreme series, S 55 V ST and S 55 S ST, will be presented to the local gaming audience for the first time during the show. Featuring captivating 55-inch UHD 4K displays, they will make a long-lasting impression on visitors with their stunning visuals, numerous interactive features, and smooth gameplay.

Alongside the General mixes, the Supreme cabinets will reveal the fascinating world of Supreme Selection Series multigames, including its latest addition – Jackpot Supreme Purple Selection mix. It will stand out with its premium collection of 50 exciting titles, blending well-established favorites and fresh new offerings with great potential.

Attendees will also be able to get acquainted with another brand-new multigame from the EGT portfolio – Power Red Selection. Including 54 titles, it will provide players with the opportunity to try their luck with both classic slots and roulette games, which can be set as Single Zero (European) or Double Zero (American) roulette.

The company’s jackpot family will be represented by the top-performing Asian-themed Zhao Cai Shuang Yu, Sheng Sheng Bu Xi, the absolute bestseller Bell Link, as well as Bell Link Boost and Gods & Kings Link with their new additions Bell Link Boost 2 and Gods & Kings Link 2.

EGT will also showcase its latest ETG developments. Guests will be able to learn more about the new Parallel Spins roulette center. It provides a state-of-the-art multiplayer experience with dual G RSA roulette centers positioned side by side. It allows simultaneous gameplay across both wheels, while a shared overhead structure delivers attractive options for branding and excellent visibility. Dedicated software enables true parallel spin functionality, which adds even more thrill to the game and increases player engagement.

EGT’s casino management system Spider with its 15 modules will be on display as well to demonstrate that it can be an indispensable assistant to casino managers in organizing daily activities at gaming venues. Numerous AWP and VLT solutions, created specifically for different markets, will complement the company’s product selection for the show.

EGT Digital will also showcase its rich variety of casino games, as well as the in-house developed iGaming platform X-Nave, providing operators with everything they need to build and grow a successful online business.

Nadia Popova, Chief Revenue Officer and VP Sales & Marketing at EGT, commented: “It is always a pleasure for us to take part in BEGE Expo – the largest gaming exhibition on the Balkan Peninsula, bringing together industry professionals from the whole region. Once again this year, we will welcome our partners, clients and friends at our stand to share our upcoming initiatives and discuss how together we can achieve even greater success.”

The post EGT to reveal advanced Supreme cabinets and multigame mixes at BEGE Expo 2025 appeared first on European Gaming Industry News.

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