Connect with us
SIS

Latest News

Gaming and Leisure Properties Announces Pricing of $400,000,000 of 3.350% Senior Notes Due 2024 and $700,000,000 of 4.000% Senior Notes Due 2030

Vlad Poptamas

Published

on

Reading Time: 2 minutes

Gaming and Leisure Properties, Inc. (the “Company” or “GLPI”) (NASDAQ: GLPI) today announced the pricing of its previously announced public offering of Notes (as defined below), to be issued by its operating partnership, GLP Capital, L.P. (the “Operating Partnership”), and GLP Financing II, Inc., a wholly owned subsidiary of the Operating Partnership (together with the Operating Partnership, the “Issuers”). The Notes will be issued in two tranches, the first of which will be due 2024 (the “2024 Notes”) and the second of which will be due 2030 (the “2030 Notes” and, together with the 2024 Notes, the “Notes”). The 2024 Notes priced with a coupon of 3.350% and the 2030 Notes priced with a coupon of 4.000%. The Notes will be senior unsecured obligations of the Issuers, guaranteed by the Company.

The estimated net proceeds from the offering are expected to be approximately $1,087.9 million. The Issuers intend to use (i) approximately $340.0 million of the net proceeds to repay outstanding borrowings under the Operating Partnership’s revolving credit facility, excluding any accrued and unpaid interest thereon, (ii) approximately $236.0 million of the net proceeds to repay outstanding borrowings under the Operating Partnership’s Term Loan A-1 facility, excluding any accrued and unpaid interest thereon, and (iii) approximately $512.0 million of the net proceeds to finance a cash tender offer (the “Tender Offer”) to purchase up to $500.0 million aggregate principal amount of the Issuers’ outstanding 4.875% senior unsecured notes due November 1, 2020 (the “2020 Notes”). To the extent less than $500.0 million of the 2020 Notes are tendered in the Tender Offer and there are any remaining net proceeds, the Issuers will use such remaining net proceeds for general corporate purposes or to pay down additional borrowings under the Term Loan A-1 facility. The offering is expected to close on August 29, 2019, subject to certain closing conditions.

The offering will be made under an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus and prospectus supplement. The preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available by visiting the EDGAR database on the SEC’s website at www.sec.gov.

Wells Fargo Securities, LLC, BofA Securities, Inc., Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Barclays Capital Inc., Citizens Capital Markets, Inc., Credit Agricole Securities (USA) Inc., M&T Securities, Inc. and SunTrust Robinson Humphrey, Inc. are serving as joint book-running managers for the offering. A copy of the preliminary prospectus supplement, final prospectus supplement (when available) and the accompanying prospectus relating to the offering of the Notes may be obtained by contacting: Wells Fargo Securities, LLC at 1-800-645-3751, BofA Securities, Inc. at 1-800-294-1322, Fifth Third Securities, Inc. at 1-866-531-5353, or J.P. Morgan Securities LLC, collect at 1-212-834-4533.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale will be made only by means of the prospectus supplement and prospectus forming part of the effective registration statement relating to these securities.

Continue Reading

Latest News

Reliable betting site of 1xBet

George Miller

Published

on

Reliable betting site of 1xBet
Reading Time: 2 minutes

 

The recent results of Watford disappoint the fans of the club, because even the last season the team participated in the final of the FA Cup, and now it has almost no chance to stay in the Premier League. To get excellent benefits and various promotional offers, you should pay attention to the proven betting site: 1xbetbd.com, which provides many opportunities for confident betting.

The first victory of Watford was only on November 8th. The team defeated Norwich in a battle of outsiders. The match against Manchester City turned out to be very painful, as Watford lost 0:8. Later the situation improved, but not much, which was confirmed by the poor match against Everton in the English League Cup, where the Hornets lost to the Toffees 1:3. All interesting offers, advantages, various bonuses and gifts can be found at https://1xbet.sn.

The disastrous results of the team are caused by the following factors:

1. Disgusting form of the strikers – all six of them managed to score only 5 goals, while before the start of the season Gerard Deulofeu promised the fans to score even more so that the team got into the Europa League zone for the next season. The Spaniard is far from fulfilling his promise, and so does the club from the Euro Cup zone.
2. Injuries of Troy Dini and Tom Cleverly – the players are considered the leaders of the team, but the season began with injuries, which led to their poor shape.
3. Injuries of defenders – Adam Masina, Sebastian Predl, Jose Holebas, Daril Yanmat are now in the infirmary.

On the proven and reliable betting site of 1xBet company, you can bet and enjoy watching high-quality video broadcasts. What is even most interesting is that the effectiveness of Watford is so poor that none of the defenders could hit the opponent’s goal. This can be rarely seen in the top 5 leagues, but what else can we expect from the team that scored just 9 goals in 17 rounds.

Extensive tennis betting lines from 1xBet bookmaker
Football is considered the most popular sport among betters, but tennis competes with it. Profitable and extensive tennis betting lines are presented in the 1xBet betting company, which always tries to provide cappers with interesting opportunities to earn money.

Recently, the legendary tennis players have been gradually leaving the female division, and they are being replaced by young and hungry for victories athletes. In men’s category, everything also leads to this, but so far Rafael Nadal, Novak Djokovic and even Roger Federer don’t intend to lose their top positions to other players. Thanks to the excellent tennis betting lines that are available in the 1xBet bookmaker, everyone can choose the best deals for them. Final matches are accompanied by good lines and high coefficients.

Continue Reading

Bitcoin

The Gambler’s Fallacy is a Crutch for Bitcoin Adoption

George Miller

Published

on

The Gambler’s Fallacy is a Crutch for Bitcoin Adoption
Reading Time: 3 minutes

 

Gambling is a human institution and has been for millennia. It has been there along the way with religion, relationships, and sports as a regular institution in our lives. Many hopes and dreams have been validated and destroyed on the whims of a game of dice or roulette wheel. There is an explanation though – The Gambler’s Fallacy. This logical premise is cemented in the human psyche and is why gambling continues to thrive as an industry today — the same as it did in Babylon.

Today however, gambling is a much different phenomenon than its ancient predecessors. Americans bet $149 billion illegally on sports in 2015, and digital casinos rake in profits that compete with their physical counterparts on the Las Vegas strip.

Internationally, gambling havens like Monaco and Macau thrive on the same predilections for gambling that enabled hotbeds of underground casinos to emerge in the first place.

But the digital world is where gambling is poised to continue its rapid growth. No longer can fortunes explicitly be made and lost at a physical card table. Poker celebrities continually arise out of vaunted online poker circles to hit the floor at world championships hosted by the likes of MGM and The Venetian.

And cryptocurrencies are positioned to become an integral component of the proliferation of digital gambling.

An Already Changing Landscape 

A cursory glance at some of the leading online gambling venues (e.g., Bovada), reveals that these platforms are already embracing cryptocurrencies.

For example, before the emergence of bitcoin, online gambling platforms typically had to pay out winners via cashier’s checks (delivered by snail mail) or chargebacks to the user’s credit/debit card. A cashier’s check is about the slowest route to pay someone and is, obviously, not ideal in 2020. Chargebacks to cards were admittedly popular for a while, but they exposed Americans (illegally online gambling) to the whims of their banks and formed a trail of breadcrumbs for authorities investigating online platforms.

Enter bitcoin.

Nearly every popular online gambling site that earned its stripes in the early 2000s is embracing bitcoin. It reduces regulatory exposure on the part of the bookie (i.e., the platform), and makes payments quicker, more anonymous, and less costly. Bitcoin is naturally congruent with digital gambling.

And the second-order effects on bitcoin’s adoption are important to recognize.

Gambling is an Adoption Crutch for Bitcoin

People who gamble, and are not familiar with bitcoin, will progressively be exposed to the legacy cryptocurrency as their presence on digital gambling platforms increases. It will progress out of necessity and convenience too, not out of some ideological loyalty to bitcoin.

If you’re gambling on an online platform, what’s the better option?

  1. Risk problems with your bank and not receive your payout by using the card chargeback method.

  2. Wait for 2 – 4 weeks to receive a check in the mail.

  3. Download a bitcoin wallet and use that for instant payouts for the remainder of your gambling voyage.

Option 3 is clearly the most convenient.

Bitcoin adoption based on convenience is also a unique adoption curve for the cryptocurrency. Outside of online gambling, bitcoin is primarily “convenient” in the context of stashing funds from oppressive governments, circumventing capital controls, or sending lucrative sums to another person/entity with strong security and speed assurances. Outside of those contexts, bitcoin is not well understood by the public and is inconvenient to use.

The user-experience of wallets in the bitcoin market is rapidly improving, but gambling may be the crutch it can lean on in the near future.

For example, digital casinos aren’t solely emerging as competitors to Las Vegas casinos, they’re arising exclusively as bitcoin casinos — like Bitcoin Games. These digital gambling platforms emphasize the speed of payouts, transparency, and privacy. Not to mention they’re populated with new types of games and (in many cases) open-source code on a blockchain to enable gamblers to verify that they’re not being taken to the woodshed by the house.

And once these casinos start embedding more advanced sportsbooks? Lookout. Especially considering the NBA’s recent warming to the idea of enabling legal gambling on its games.

Digital global gambling statistics are challenging to coalesce due to fragmented regulations and the illegal nature of its existence with many private bookies, but what’s evident is the massive scale of the industry. Online gambling has grown virtually linearly over the last decade and the industry as a whole is projected to expand by a CAGR of 8.7 percent through 2024.

With an estimated 26 percent of the world’s population gambling at some point, that’s an enormous opportunity to onboard more users to bitcoin — an adoption crutch often overlooked as we enter the 2020s.

By Ray Sze, Head of Games at Bitcoin.com, who has extensive experience in the gaming industry that stretches back more than a decade. 

Continue Reading

Eastern Europe

Ukraine Telecoms Regulator Orders ISPs to Block 32 Online Gambling Websites

Niji Narayan

Published

on

Ukraine Telecoms Regulator Orders ISPs to Block 32 Online Gambling Websites
Photo Source: open4business.com.ua
Reading Time: < 1 minute

 

Ukrainian national telecommunications regulator the National Commission for State Regulation of Communications and Informatization (NKRZI) has called on internet service providers to block 32 online gambling websites. The websites include domains for PartyPoker, Pinnacle and CloudBet, as well as FastPay Casino, Yukon Gold, Golden Tiger Casino and BetChain.

The decision, which came at the order of the Chief Investigative Directorate of the Security Service of Ukraine, was based on a judicial decision by Oksana Hardina, judge in the Shevchenkovskiy District Court of Kyiv.

Hardina’s ruling gave the telecommunications regulator the power to issue blocking orders against websites offering illegal content, including online gambling.

An appeal to the order may be filed to the Kyiv Court of Appeal, within five days of the issuance of the order.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.