The company Entain has just taken out a new $1 billion loan.
The company’s new loan is set to mature in October 2029, and will be worth $1 billion.
When it was initially committed to taking out a $750 million loan, Entain had no idea how many people would want their investment and so they decided that instead of just getting enough money for themselves- which is what most companies do when asked by global investors at higher levels than before – this time around there would be more than enough funds available.
The acquisition of SuperSport, which was announced in March and expected to close during Q4 is now set for early 2020. This will create an entirely new subsidiary called Entain CEE – founded by the successful deal with this sport’s media rights company!
‘The board has decided that the best way to provide further balance sheet flexibility is by drawing from our cash reserves. This will allow us not only purchase BetCity but also do so without requiring any additional drawings on this credit facility.’
The loan is expected to be complete by the end-of October 2022, when funds will transfer over.
Its not surprising that Entain is seeing success with their new loan. The company has been focusing on providing players better service and a higher quality of games, which seems to be paying off!
It was also great hearing about all these milestones from them today – we’re proud for helping make this possible by offering such innovative products at competitive rates as well as being there when you need us most too.
“It was a great third quarter for us,” said Jette Nygaard-Andersen, CEO of Entain. “We continue to see strong underlying momentum across the group with good results seen in BetMGM as well.”
The online gambling world was thrown into disarray last week when it emerged that Entain’s joint venture with MGM Resorts International, BetMGM – which saw particular success in North America within the casino segment- has been cancelled. The company released this statement on their website: “After much consideration and careful analysis of market conditions throughout various regions around the globe,” they said while referring to how bettors have flocked towards betting sites offering better odds than traditional land based card rooms such as Las Vegas’ famous debuting Strip nightclubs casinos.”
The Global Gaming Awards is the most prestigious event in gaming and BetMGM was awarded with two awards this year, including Digital Operator of Year.
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