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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 Tenders of Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on August 28, 2019 (the “Early Tender Deadline”), but may not be withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law.
The total consideration (the “Total Consideration”) paid in the Offer for Notes that are validly tendered and not withdrawn at or prior to the Early Tender Deadline and accepted for purchase will be determined in the manner described in the Offer to Purchase by reference to a fixed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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BETBY EXPANDS E-SIM PORTFOLIO WITH TWO INDUSTRY-FIRST TITLES: eTABLE TENNIS and eFOOTVOLLEY
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BETBY, the leading sportsbook supplier, has expanded its proprietary esports feed, Betby.Games, with the launch of two brand-new e-sim titles: eTable Tennis and eFootVolley. Both releases mark a major milestone in BETBY’s commitment to delivering fair, authentic, and localised esports content that enhances 24/7 engagement for operators and players worldwide.
Representing a world-first for the industry, the eTableTennis title, entitled TTX CUP, introduces a completely new vertical to esports betting, with an authentic, fully fair, and transparent experience. The game features realistic physics, true-to-life gameplay, and zero-second betting delay, offering instant bet placement for one of the fastest-paced sports.
Each match follows the classic table tennis format of five sets to 11 points, with over 20 betting markets and high betting limits comparable to elite-level competitions such as the Champions League. Launched initially with two tournaments, TTX CUP delivers more than 1,500 matches per month, running 24/7 with no streaming delay, ensuring full transparency and player trust.
Aligned with the WTT Finals Hong Kong, one of the sport’s premier real-world events, the release allows operators to engage users during off-hours through a seamless, always-on e-sim.
BETBY’s second new title, eFootVolley, further strengthens its “go-local” approach by focusing on Brazil’s fast-growing futevôlei scene, one of the country’s most culturally resonant sports. The game replicates the official Liga Nacional de Futevôlei, following a five-set format (up to 11 points) and an average match duration of around 20 minutes, with 20+ available betting markets.
Launching in sync with the final stage of the real-world Liga Nacional de Futevôlei, eFootVolley provides an ultra-localised, 24/7 betting experience, reflecting BETBY’s strategy of blending authenticity with constant engagement. Following the success of eVaquejada, this release reinforces the company’s dedication to creating content that speaks directly to local audiences and their sporting passions.
Kirill Nekrasov, Head of Sportsbook Product at BETBY, commented: “With TTX CUP and eFootVolley, we’re breaking new ground in esports simulations. TTX CUP sets a new benchmark for integrity and realism in table tennis betting, while eFootVolley demonstrates our ongoing commitment to localised, culturally relevant content. Both titles reflect the Betby.Games vision to provide operators with high-frequency, fair, and engaging titles.”
The Betby.Games portfolio now features 25 proprietary titles, covering 80+ tournaments and over 400,000 monthly matches across multiple sports.
The post BETBY EXPANDS E-SIM PORTFOLIO WITH TWO INDUSTRY-FIRST TITLES: eTABLE TENNIS and eFOOTVOLLEY appeared first on European Gaming Industry News.
Reading Time: 2 minutes
Continent 8 Technologies, a leading provider of cutting-edge managed IT solutions designed for the global iGaming and online sports betting industry, announces the promotion of David Brace to its executive leadership team.
In his new role, Brace will serve as practice lead for AWS solutions, spearheading the company’s continued expansion and innovation within the Amazon Web Services (AWS) ecosystem.
The news follows Continent 8’s selection as an official AWS Solution Provider under the Solution Provider Program (SPP). This has enabled Continent 8 to augment its AWS portfolio, including Managed AWS Workloads, Managed Hybrid Network and AWS Cloud Migration.
Michael Tobin, CEO and Founder at Continent 8 Technologies, said: “Over the past eight years at Continent 8, David has consistently demonstrated a deep and nuanced understanding of technology, infrastructure, and the regulatory landscape – both on industry panels and directly with our customers. His expertise is widely respected, and this promotion is a well-earned recognition of his contributions.
“David’s elevation to the executive team comes at a pivotal moment for our business, as we sharpen our strategic focus on cloud innovation. He is the ideal leader to drive our AWS practice forward, bringing vision, experience, and a customer-first mindset. With continued investment in this area, we’re committed to delivering AWS solutions that are secure, scalable, and tailored to the unique demands of the iGaming sector.”
David Brace, Chief Alliance & Partnership Officer, AWS, at Continent 8 Technologies, added: “I’m honoured to join the executive team and lead our AWS practice. The iGaming industry is evolving rapidly, and cloud adoption is central to that transformation. Our goal is to simplify the journey for our customers – whether they’re launching in new markets, navigating regulatory frameworks, or scaling their operations globally. With AWS and Continent 8’s combined capabilities, we’re uniquely positioned to deliver.”
Continent 8 has vast experience in delivering AWS solutions to the industry. The company has already delivered 90% of AWS Outposts in the industry to major brands in the regulated betting and gaming market, including FanDuel, Fanatics Betting & Gaming, and Hard Rock Digital.
Meet David Brace and members of Continent 8’s AWS practice at AWS re:Invent 2025, 1-5 December in Las Vegas.
The post Continent 8 promotes David Brace to Executive Team appeared first on European Gaming Industry News.
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Zero horsepower, maximum chances to win: Allwyn and the McLaren F1 Team launch world’s first Scratch Car
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Introducing the world’s first race car designed to be scratched! Allwyn, the lottery-led entertainment company, has teamed up with the McLaren F1 Team to create the one-of-a-kind ‘Scratch Car’ to celebrate this weekend’s Grand Prix and inspire people everywhere to take a chance.
The life-sized model of an F1 car was unveiled by McLaren F1 Team driver Oscar Piastri at the LINQ Promenade on the Las Vegas Strip. The Scratch Car invites fans to scratch the surface of one of 970 panels to win exclusive McLaren F1 Team experiences and prizes.
The car designer swapped a spanner for a pair of scissors to build the engineering masterpiece. Designed and hand-built with meticulous precision by paper artist and motorsport enthusiast Florian Weber, better known as Paperlegend, the car is made up of 970 individual scratchable panels, each printed in the McLaren F1 Team’s iconic papaya orange. Taking weeks to build, the unique installation will be open for racing fans to visit and scratch at the LINQ promenade in Las Vegas over two days, from its launch on Tuesday 18th November through Wednesday 19th November.
Fans who can’t make it to Las Vegas can join in via an online Scratch Car experience, allowing people to virtually scratch their own digital McLaren F1 car for the chance to win. The hero prize promises one lucky online winner a once-in-a-lifetime opportunity to visit the McLaren Technology Centre in Woking, UK – and not only meet a McLaren F1 Team driver, but have their own race suit signed by them.
Pavel Turek, Chief Officer Global Partnerships at Allwyn, said: “Being an Official Partner of the McLaren F1 Team enables us to bring the entertainment and excitement of the sport to even more people. Our Scratch Car is just one of the ways we are helping fans across the world get closer to the F1 action, with the chance to win once-in-a-lifetime McLaren F1 Team prizes and experiences. We believe that taking a chance gives you one, and this world-first installation celebrates that spirit in a fun, creative way.”
Florian Weber (AKA Paperlegend), the artist and designer behind the Scratch Car, said: “F1 drivers have to be incredibly precise but also willing to take chances and that’s what makes the Scratch Car such a perfect embodiment of the feeling of winning. It’s a piece of art that celebrates both precision and the thrill of taking a chance.”
Louise McEwen, Chief Marketing Officer at McLaren Racing, said: “At McLaren Racing, we are continually exploring new and unexpected ways of connecting with our fans in a fun and engaging way, and that’s what our Scratch Car activation with Allwyn does. We can’t wait for people to see it come to life, whether that’s on the ground in Las Vegas or online.”
Fans can visit the Scratch Car from Tuesday 18th until Wednesday 19th November at the LINQ Promenade, just moments from the racing track, or scratch a digital version online at Allwyn Global’s Instagram page until Tuesday 25th November.
The post Zero horsepower, maximum chances to win: Allwyn and the McLaren F1 Team launch world’s first Scratch Car appeared first on European Gaming Industry News.
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