REG - Entain PLC - Announcement of Conditional Notice of Redemption

EntainAnnouncement

04/07/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230704:nRSD8294Ea&default-theme=true

RNS Number : 8294E  Entain PLC  04 July 2023

4 July 2023

 

Entain plc and Ladbrokes Group Finance plc

 

Announcement of Conditional Notice of Redemption

£400,000,000 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
£407,464,672, comprising

i.      £400,000,000, being the redemption price of 100.00% of the
aggregate principal amount of the Notes to be redeemed; plus

 

ii.     £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
(https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4346131&lang=en-GB&companycode=lu-gvc&v=newdesign)
), 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 (mailto:investors@entaingroup.com)

 Media - Entain plc                     media@entaingroup.com (mailto:media@entaingroup.com)

 Powerscourt                            Tel: +44 (0) 20 7250 1446

 Rob Greening/Nick Hayns/Sam Austrums   entain@powersco (mailto:entain@powerscourt-.com) urt-group.com
                                        (mailto:entain@powerscourt-.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 (http://www.entaingroup.com)

Entain plc LEI: 213800GNI3K45LQR8L28

 

Ladbrokes Group Finance plc LEI: 213800QOWHF5R9VLL274

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUPUCPMUPWGBW