American gaming machines behemoth Scientific Games Corporation has announced that its new Light & Wonder arm has successfully completed a pair of debt refinancing transactions to reduce its aggregated arrears by some $4.8 billion.
The Las Vegas-headquartered parent used an official Thursday press release (pdf) to detail that the subordinate in charge of all of its gaming and iGaming activities now holds outstanding debts of approximately $4 billion after completing the sale of its lottery business to a subordinate of Canadian financial services giant Brookfield Asset Management Incorporated.
Financial feats:
Scientific Games Corporation unveiled the Light & Wonder rebrand in March and disclosed that the refinancing campaign also incorporated retiring an existing $4 billion term loan at the same time as redeeming $3 billion in secured and unsecured notes. The giant noted that these were followed by the inking of a fresh $2.2 billion term loan facility as well as the realization of a new $750 million revolving credit amenity.
Considered course:
The Light & Wonder EMEA Senior Vice-President and Managing Director for Scientific Games Corporation, Simon Johnson (pictured), used this press release to assert that Entain is to additionally maintain access to his company’s content aggregation platform. The experienced professional noted that this will give the operator ‘an extensive library of over 3,000 titles’ developed by some of the industry’s premier iGaming studios in concert with ‘cutting-edge player features including responsible gaming tools.’
A statement from Johnson read…
“We are delighted that Entain has chosen to continue our partnership through to 2030. Our teams have more than 20 years of history together and we’re excited about supporting Entain through its next phase of growth and innovation. The future is exciting for both Entain and Light & Wonder.”