TIDMENT
RNS Number : 8294E
Entain PLC
04 July 2023
4 July 2023
Entain plc and Ladbrokes Group Finance plc
Announcement of Conditional Notice of Redemption
GBP400,000,000 5.125 per cent. Guaranteed Notes due 2023 issued
by Ladbrokes Group Finance plc (the "Notes")
Entain plc (LSE: ENT), a leading global sports betting, gaming
and interactive entertainment group ("Entain" or the "Group"),
announces that today its subsidiary, Ladbrokes Group Finance plc
(the "Issuer"), has issued a conditional notice of redemption for
any and all outstanding Notes(1) .
Entain has elected to redeem the Notes in full in an aggregate
amount of GBP407,464,672, comprising
i. GBP 400,000,000, being the redemption price of 100.00% of the
aggregate principal amount of the Notes to be redeemed; plus
ii. GBP 7,464,672, being the accrued and unpaid interest to, and
including, 20 July 2023 (the "Redemption Date").
As announced on 26 June 2023 ( Link ) , the redemption will be
funded using the net proceeds of an issuance of term loans . The
Redemption Date may be moved at the Issuer's discretion.
Noteholders will receive their payment on the Redemption Date
through the clearing and settlement systems of Euroclear Bank SA/NV
and Clearstream Banking S.A.
Notes
(1) The redemption is conditional on the Issuer receiving
sufficient aggregate proceeds to redeem the Notes in full and pay
all related expenses.
Enquiries:
Investor Relations - Entain plc investors@entaingroup.com
Media - Entain plc media@entaingroup.com
Powerscourt Tel: +44 (0) 20 7250 1446
Rob Greening/Nick Hayns/Sam Austrums entain@powersco urt-group.com
Forward-looking statements
This document contains certain statements that are
forward-looking statements. They appear in a number of places
throughout this document and include statements regarding our
intentions, beliefs or current expectations and those of our
officers, directors and employees concerning, amongst other things,
results of our operations, financial condition, liquidity,
prospects, growth, strategies and the business we operate. These
forward-looking statements include all matters that are not
historical facts. By their nature, these statements involve risks
and uncertainties since future events and circumstances can cause
results and developments to differ materially from those
anticipated. Any such forward-looking statements reflect knowledge
and information available at the date of preparation of this
document. Other than in accordance with its legal or regulatory
obligations (including under the Market Abuse Regulation
(596/2014), the Listing Rules, the Disclosure Guidance and
Transparency Rules and the Prospectus Rules), the Group undertakes
no obligation to update or revise any such forward-looking
statements. Nothing in this document should be construed as a
profit forecast. The Group and its directors accept no liability to
third parties in respect of this document save as would arise under
English law.
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the
world's largest sports betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports brands include BetCity,
bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet,
Sports Interaction and SuperSport; Gaming brands include Foxy
Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group owns proprietary technology across all its
core product verticals and in addition to its B2C operations
provides services to a number of third-party customers on a B2B
basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports
betting and iGaming in the US. Entain provides the technology and
capabilities which power BetMGM as well as exclusive games and
products, specially developed at its in-house gaming studios. The
Group is tax resident in the UK and is the only global operator to
exclusively operate in domestically regulated or regulating markets
operating in over 40 territories.
Entain is a leader in ESG, a member of FTSE4Good, the DJSI and
is AA rated by MSCI. The Group has set a science-based target,
committing to be carbon net zero by 2035 and through the Entain
Foundation supports a variety of initiatives, focusing on safer
gambling, grassroots sport, diversity in technology and community
projects. For more information see the Group's website:
www.entaingroup.com
Entain plc LEI: 213800GNI3K45LQR8L28
Ladbrokes Group Finance plc LEI : 213800QOWHF5R9VLL274
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