Entain to launch €800m bond offering
The FTSE-listed gambling group aims to extend its debt maturity profile.
UK.- The London-listing gambling group Entain has announced plans to issue bonds worth at least €800m. The offering will take the form of euro and/or sterling-denominated senior secured notes maturing in 2031. These will be guaranteed and secured on a pari passu basis alongside the group’s existing Term Loan B facilities.
The move is part of the group’s refinancing strategy and is intended to extend the company’s debt maturity profile, diversify funding channels and reduce its annual interest expenses. Entain said that, if completed, proceeds will be used to repay outstanding balances under its euro-denominated Term Loan B facilities.
The offering is restricted to non-US persons under Regulation S and excludes retail investors in both the UK and EU in compliance with prospectus and PRIIPs regulations. The notes will be issued through offshore transactions and will not be registered under US securities laws. The final size, pricing, and conditions will be determined at issuance, subject to market dynamics.
Entain beat revenue expectations for Q3 and CEO Stella David reiterated the group’s commitment to balance sheet optimisation while adapting to regulatory shifts across its multiple jurisdictions. The group has been focused on streamlining operations and reinforcing its financial position following a period of heightened compliance costs and restructuring.
David has warned that Entain would consider betting shop closures if the UK government announces a rise in gambling tax in the Autumn Budget this month. Meanwhile, Entain has continued to grow its content and trading partnerships. In October, Entain CEE signed a deal with Beter to provide SuperSport in Croatia and STS in Poland.
