• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Credit deal rejig helps IGT save US$65mln yearly: CFO

Jul 27, 2021 Newsdesk Latest News, Top of the deck, World  


Credit deal rejig helps IGT save US$65mln yearly: CFO

Gaming content and lottery provider International Game Technology Plc (IGT) has renegotiated a senior credit facility, increasing the aggregate amount by 16 percent, to EUR1 billion (US$1.18 billion), from EUR860 million. The amendment of the facility also extends the maturity date to January 25, 2027, and reduces the applicable interest rate by 35 basis points, the group said in a Monday filing in the United States.

The deal would “extend the weighted average maturity of our debt instruments to approximately five years,” said Max Chiara, chief financial officer (CFO) of IGT, as cited in an accompanying press release.

“Based on the current balances and interest rates of the company’s debt, we expect this transaction and the debt transactions closed earlier this year to result in approximately US$65 million in lower annualised interest expense,” he added.

The facility – renegotiated from a deal originally struck in July 2017, and subsequently amended several times previously – requires EUR200 million in annual amortisation payments in 2024, 2025 and 2026 respectively, with the remaining EUR400 million balance due at maturity.

The company’s net debt position stood at just under US$7.07 billion as at the end of the first quarter, down from US$7.17 billion as of March 31, 2020.

In May, IGT reported first-quarter revenue of nearly US$1.02 billion, up 24.7 percent from the prior-year quarter.


  • tweet
Related articles
  • IGT floor system, slots for newcomer Cebu casino NUSTAR
    IGT floor system, slots for newcomer...

    May 12, 2022  

  • IGT 1Q revenue slightly up y-o-y, on higher gaming sales
    IGT 1Q revenue slightly up y-o-y, on...

    May 11, 2022  

More news
  • Four Seasons Macao shops paused on Covid cases
    Four Seasons Macao shops paused on...

    Jul 04, 2022  

  • Paradise Co 1H casino rev down 10 pct y-o-y
    Paradise Co 1H casino rev down 10 pct...

    Jul 04, 2022  


Latest News

Four Seasons Macao shops paused on Covid cases

Four Seasons Macao shops paused on Covid cases

Jul 04, 2022  

All outlets at the Shoppes at Four Seasons, a mall in one of casino operator Sands China Ltd’s Cotai properties (pictured), have been shut temporarily amid the alert over a growing number of...
Read More
Paradise Co 1H casino rev down 10 pct y-o-y

Paradise Co 1H casino rev down 10 pct y-o-y

Jul 04, 2022  

Fresh hotel, branded New World opens at Hoiana in Vietnam

Fresh hotel, branded New World opens at Hoiana in Vietnam

Jul 04, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$310 million

Macau casino gross gaming revenue tally in June



Most Popular

  • Macau due 3 new rounds of Covid tests, more than 850 casesMacau due 3 new rounds of Covid tests, more than 850… July 4, 2022
  • Macau ops all likely had negative 2Q EBITDA: JP MorganMacau ops all likely had negative 2Q EBITDA: JP Morgan July 4, 2022
  • Four Seasons Macao shops paused on Covid casesFour Seasons Macao shops paused on Covid cases July 4, 2022
  • Macau tells casinos cut on-duty staff by 90pct: reportsMacau tells casinos cut on-duty staff by 90pct: reports July 1, 2022
  • Macau monthly GGR for June worst since Sept 2020Macau monthly GGR for June worst since Sept 2020 July 1, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us