• 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

IGT amends revolving credit facilities, term loan

Jul 28, 2022 Newsdesk Industry Talk, Latest News  


IGT amends revolving credit facilities, term loan

Gaming and lottery provider International Game Technology Plc (IGT) announced on Wednesday an amendment and extension to its revolving credit facilities agreement and an amendment to its term loan facility agreement.

A press release quoted Max Chiara, IGT’s chief financial officer, saying: “These transactions represent a continuation of the many capital structure initiatives executed over the last few years to bolster our credit profile.”

He added: “The revolving credit facilities amendment extends the final maturity date of the revolving credit facilities by three years to 2027, reduces the interest rate margins and provides greater flexibility under certain non-financial covenants.”

The firm said the amendment to its revolving credit facilities increased the aggregate commitments of the lenders to approximately US$1.83 billion, from about US$1.68 billion previously. It also “extends the final maturity date to July 31, 2027,” and “reduces the facilities margins by at least 0.25 percent,” it added.

IGT said the amendments increase the firm’s annual permitted acquisition limit from 10 percent to 15 percent of consolidated total assets and the lifetime permitted acquisition limit from US$2.25 billion to US$2.5 billion.

The amendments also allow for the increase in the annual limit on IGT’s dividends and share repurchases from US$300 million to US$400 million, based on the group’s current public debt ratings. Such limit goes up to US$550 million “if any two public debt ratings are equal to BB+/Ba1”, and is eliminated “if any two public debt ratings are higher than BB+/Ba1,” said the gaming supplier.

IGT posted a net profit of US$79 million for the first quarter this year, on revenue that rose 3.5 percent year-on-year, to just above US$1.05 billion.

Earlier this month, the company completed the acquisition of online gaming supplier iSoftBet for approximately EUR160 million (US$163.0 million, at current exchange rates) in cash.


  • tweet
Related articles
  • IGT and Novomatic’s Greentube in patent licensing deal
    IGT and Novomatic’s Greentube in...

    Jan 19, 2023  

  • Gaming trade body AGEM elects new officers
    Gaming trade body AGEM elects new...

    Jan 13, 2023  

More news
  • Return of tours good for mass floor traffic: observers
    Return of tours good for mass floor...

    Feb 03, 2023  

  • S.Korea casino op GKL’s January sales up 230pct y-o-y
    S.Korea casino op GKL’s January...

    Feb 03, 2023  


Latest News

Return of tours good for mass floor traffic: observers

Return of tours good for mass floor traffic: observers

Feb 03, 2023  

The imminent return of package tours from mainland China will not only help boost Macau’s tourism businesses, but is also expected to help casinos gain more foot traffic in their mass gaming...
Read More
S.Korea casino op GKL’s January sales up 230pct y-o-y

S.Korea casino op GKL’s January sales up 230pct y-o-y

Feb 03, 2023  

Aristocrat completes acquisition of Roxor Gaming

Aristocrat completes acquisition of Roxor Gaming

Feb 03, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are confident that the Philippine gaming sector will be able to fully recover, or even surpass its pre-pandemic earnings soon”

Alejandro Tengco

Chairman and chief executive of Pagcor



Most Popular

  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • Mainland tour groups to Macau to resume Feb 6: govtMainland tour groups to Macau to resume Feb 6: govt February 3, 2023
  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Aruze Gaming America opts financial rejig after legal matterAruze Gaming America opts financial rejig after legal matter February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us