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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.
Play’n GO expands its table game portfolio with the release of GO Craps, a fresh take on the casino classic that blends authenticity with intuitive gameplay.
Bringing the atmosphere of a high-stakes casino directly to players, GO Craps delivers a streamlined yet immersive experience. Whether seasoned pros or newcomers to the dice table, players can easily place bets, track their statistics, and save strategies for future rounds. The game’s clean interface ensures the focus stays on the action, keeping gameplay smooth and engaging.
GO Craps recreates the thrill of the dice roll across two distinct phases – the Come Out phase and the Point phase – with a variety of betting options that cater to different playstyles. Players can take advantage of classic bets like Pass Line and Don’t Pass Bar while exploring additional wagers such as Hardways, Horn bets, and Field bets to keep the excitement rolling.
As part of Play’n GO’s commitment to delivering premium table games, GO Craps stands alongside a renowned selection of titles, including Double Exposure BlackJack MH, European Roulette Pro, and Mini Baccarat. Each game maintains a balance of authenticity and innovation, ensuring that every session is packed with engaging opportunities.
Head of Game Retention at Play’n GO, George Olekszy, said: “Craps is a staple in casino gaming, and with GO Craps, we’ve taken great care to make the game both accessible and engaging. Whether you’re a dice aficionado or a newcomer, GO Craps captures the energy and strategy of the game while making it easy to play anytime, anywhere.”
With its sleek design and player-focused features, GO Craps is set to become a standout in Play’n GO’s extensive table game lineup.
The post GO Craps rolls onto the scene at Play’n GO! appeared first on European Gaming Industry News.
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Italian Gaming Awards 2025: over 110 competitors for 21 awards Jury at work and the gala evening on April, the 9th!
Over 110 nominations to win the 21 awards up for grabs: the IGA – Italian Gaming Awards prizes will be awarded during the gala evening on April, the 9th, at Spazio Novecento and are already highly coveted by an audience of high-profile operators and companies, at a national and international level. Here are all the competitors for the precious awards, which you can find here: Italian
Gaming Awards 2025 – Shortlist
After last year’s success at the Italian Gaming Expo & Conference (IGE), the new edition is scheduled for April, the 9th and 10th, 2025 at the Salone delle Fontane in Rome, the one and only selection of excellence and best practices in the Italian public gaming sector is back.
The event dinner on April 9th will be a special evening in an exceptional location, full of charm, like Spazio Novecento. With music, entertainment, good food. And lots of networking.
IGA is an event to award the achievements of operators and affiliates in terms of services, technology and innovation, as well as the suppliers of all the main fields, including payment systems, marketing, platforms, data, certifications and compliance. A real event within the event, which in addition to give value to the industry and its talents, will also have the task of promoting the sector towards the outside, helping to clear the image in the eyes of public opinion, involving, together with experts of the industry, also professionals, VIPs and authorities from other sectors, as guests or judges of the event.
What was the roadmap of IGA 2025?
Launch
The launch took place on December, 15, 2024 with the publication of the dedicated website that began to accept speculative (and free) applications from companies. Applications were closed on March, the 9th.
Short list
From March, the 10th, 2025, the short lists for each category are available.
The floor to the judges
The evaluation period by the jury composed for the special occasion by IGA will end on March, the 31st, 2025 and the respective votes will be decided, the results of which will be announced during the evening of April, the 9th, at Spazio Novecento.
The jury
A great value is expressed by the jury, chosen by Italian Gaming Awards and which perfectly combines the values of the sector, allowing the expression of a quality, authoritative, neutral and very accurate judgment.
In alphabetical order we mention: Ewa Bakun (Clarion Gaming), Michele Bragantini (Tsj Holding), Ludovico Calvi (Ulis), the journalist Massimo Caputi, Gian Luca Comandini (Vesta Calcio), Mauro De Fabritiis (Mdf Partners), Samuele Fraternali (Politecnico Milano Osservatorio Digital Innovation), Fabio Lalli (Entrepreneur, Advisor, Speaker), Matteo Marini (Parlay Capital), Russel Mifsud (KPMG Malta), Pieter Remmer (Assissa Consultancy/Europe/G4 Global), Francesco Rodano (Playtech), Stefano Saladino (Digital Innovation Days/Promofacile), Stefano Sbordoni (Sbordoni&Partners), Cesare Biasini Selvaggi (exibart), Marta Soligo (Unlv), Piermario Tedeschi (Digital Angels), Hélène Thibault (Tonucci&Partners), Christian Tirabassi (Ficom Leisure).
The post Italian Gaming Awards 2025: over 110 competitors for 21 awards Jury at work and the gala evening on April, the 9th! appeared first on European Gaming Industry News.
SBC Summit Malta, formerly the CasinoBeats Summit, will build on its strong foundation in casino innovation, providing 5,500 attendees with a comprehensive overview of the latest trends, technological advancements, and strategies shaping the casino industry’s future.
The dedicated ‘Casino Product Excellence‘ conference track will take place on Wednesday, June 11, at the InterContinental Hotel in St. Julian’s, Malta, kicking off the event’s first core day.
Rasmus Sojmark, CEO and Founder of SBC, said: “CasinoBeats Summit may have evolved, but so too have the trends and challenges faced by those operating in the casino space.
New technology, shifting player habits, and evolving regulations are constantly reshaping the industry. While the agenda is expanding to cover disciplines beyond casino, we will still explore this vertical in depth with dedicated content.”
Attendees can look forward to in-depth discussions on the rise of sweepstake casinos, the influence of video games on slot machines, and strategies for developing games that engage seasoned players while attracting new audiences.
The panel titled ‘Over Gamification of Slot Games? Are we Moving Too Far Away From the Traditional Game’ will explore the excessive addition of gamification features in slot games. Featuring experts Michael Foster (Group Head of Commercial Gaming Operations, FEG) and Dr Eyal Loz (CPO, Ruby Play), the panel will examine the impact of these new features—such as bonuses, multiplayer modes and video game tropes—on player engagement. The experts will also assess whether these innovations are enhancing the overall gaming experience or causing a disconnect amongst core players instead.
The ‘The Art of the Sequel: Balancing Innovation, Success, and Influencer Impact on Gaming Audiences’ session will offer strategies for revamping established and successful games through innovative features and marketing. Hosting a lineup of iGaming experts, including Chris McGowan (Chief Operations Officer, Scatters), David Fall (Business Development Manager, ELA Games) and Alexandru Ababei (Brand Manager, LeapSquare), the panel will provide insights on how game studios can better align with shifting player preferences. Discussions will also explore leveraging influencers to promote new titles and strategies for striking the right balance between attracting new audiences and catering to existing fans.
The panel titled ‘Platforms and Aggregators: Catalysts or Constraints in the Gaming Industry’s Future?’ will examine whether platform providers and aggregators still offer the same value for operators in 2025. The panel, which will feature experts from both sides of the argument, Ewa Kaźmierska (Managing Director, ELA Games), Kristina Murgovska (CPO, Rhino Entertainment) and Jovana Popovic-Canaki (CEO, iGP), will discuss the advantages and disadvantages of utilising these providers and their influence across the industry.
As well as the ‘Casino Product Excellence’ track, delegates will have the chance to attend dedicated tracks covering regulation, affiliation, sports betting, marketing and payments. The event will also feature two dedicated workshop rooms, offering delegates a more hands-on learning experience.
The post Casino Innovation to Take Center Stage at SBC Summit Malta appeared first on European Gaming Industry News.
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