Jun 23, 2020 Newsdesk Latest News, Top of the deck, World  
Casino and lottery technology provider International Game Technology Plc (IGT) says it was able to boost the maximum tender amount on its offer to buy some senior secured notes due in 2022.
Such maximum tender amount rose to US$500 million, from the US$300 million first anticipated.
The firm said in a Monday press release that as of 5pm New York City time, on Friday (June 19) it had accepted for purchase just under US$500-million – measured by principal amount – of its 6.250-percent senior secured notes due in 2022. The outstanding principal amount on the notes was US$1.5 billion at the time the offer to purchase was made on June 8.
The tender offer is scheduled to expire at 11.59pm New York time on July 6.
IGT also announced on Monday that with effect from Friday it had completed the linked sale of US$750-million in 5.25-percent senior secured notes due in 2029.
Standard & Poor’s Global Ratings said in a June 8 note that it thought IGT’s exposure to the lottery segment, which it said had remained open for business in the United States even when casinos were shuttered in a number of markets globally, would in likelihood “provide it with some cushion to offset a weak anticipated casino recovery”.
IGT posted a net loss of nearly US$248.3 million for the first quarter, compared with a US$40.3-million profit in the corresponding period a year earlier. It said the quarter’s trading had been negatively affected by the Covid-19 pandemic, coinciding with widespread shutdowns of casinos in key markets.
As of March 31, IGT’s net debt position was US$7.17 billion, but that was an improvement from the US$7.38 billion recorded as of December 31, 2019.
May 16, 2022
Apr 22, 2022
Jun 24, 2022
Jun 24, 2022
Jun 24, 2022
It is likely that Macau will shortly have a third round of citywide centre-based Covid-19 testing in little more than a week, after the results so far of a second mass test – that was due to finish...
(Click here for more)
US$5.8 million
Amount that each Macau casino operator paid for the circa six-month extension of their respective contract