Bally’s has commitment letter, bridge facility for Gamesys purchase

Chicago, April 13 – Bally’s Corp. has a £1.435 billion bridge commitment letter and a €336 million bridge term loan to help fund the purchase of Gamesys Group plc, according to an 8-K filing with the Securities and Exchange Commission.

Premier Entertainment Sub, LLC, an indirect wholly owned subsidiary of the company, is listed as the borrower.

The facilities have an interest rate for sterling loans at the base rate plus 250 basis points, increasing by 25 bps on the 90-, 180- and 270-day anniversaries of the initial funding date. Euro-denominated loans will have an interest rate of Euribor plus 250 bps, also stepping up by 25 bps on each of the 90-, 180- and 270-day anniversaries.

Borrowings under the bridge facility mature 364 days from the initial funding date.

Borrowings on the interim facilities agreement mature 90 days from initial funding, with the option to extend to 364 days from initial funding.

The interim facilities agreement lists Deutsche Bank AG, London Branch, Goldman Sachs Bank USA and Barclays as arrangers.

Deutsche Bank is the interim facility agent and the interim security agent.

Bally’s is a Providence, R.I.-based casino operator and gaming company.

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