Everi Holdings Inc, a specialist in cash handling technology and electronic game content for the casino industry, announced on Tuesday a plan to conduct a private offering – subject to market and other conditions – of US$375 million in senior unsecured notes due 2025.
The exercise will be conducted by the firm’s wholly-owned subsidiary, Everi Payments Inc, and guaranteed by the parent company and certain of Everi Holdings’ direct and indirect domestic subsidiaries. The notes will be offered and sold only to qualified institutional buyers, said Everi Holdings.
The parent company additionally stated Everi Payments intends to use the net proceeds from the offering – together with cash on hand – to redeem in full its existing US$350 million in 10-percent senior unsecured notes due 2022, “in accordance with their terms and pay related fees and expenses”.
Everi Holdings said on Monday that it had concluded the repricing of its US$820-million senior secured term loan, adding that it expected to generate cash interest savings of approximately US$8.2 million on an annualised basis.
In October Everi announced it had narrowed its net loss for the three months to September 30, when judged year-on-year. Such loss was US$4.3 million on revenue of US$247.3 million, compared to a US$8.3-million loss on revenue of US$222.2 million in the prior-year quarter.
Apr 21, 2021Japan’s draft regulations for casinos, undergoing public consultation until May 9, still require clarifications in key areas, including the definition of VIP play, says Kentaro Maruta (pictured) of...
Apr 21, 2021
Apr 21, 2021
”We are filled with gratitude and excitement as we approach our opening this June and hope to play a role in Las Vegas’s rebound after what has been an incredibly challenging year”
President of Resorts World Las Vegas