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@Betfred Refinance Deal Complete
Monday January 13,2014 : BETFRED COMPLETES REFINANCING DEAL
Strong performance opens new doors
The Betfred Group has announced the successful completion of a GBP 200 million refinance deal following its GBP 265 million acquisition of The Tote two and a half years ago.
The Manchester Evening News reports Betfred's repayment of its acquisition facilities, including the early repayment of the GBP 115 million deferred consideration from the Government in an unprecedented syndicated loan deal with Barclays, M&G Investments, Santander UK and Yorkshire Bank.
Betfred's strong performance smoothed the way toward the successful transaction where the bookmaker reported a surge in profits to nearly GBP 70 million in its first full set of results since its acquisition of the Tote.
Other key performance indictors for the year ending March 31, 2013 included a 30 percent rise in pre-tax profits to GBP 69 Million, a GBP 43 million reduction in debt to GBP 213 Million and revenues up by GBP 1.3 Billion to GBP 8 Billion compared to the previous year.
Fred Done, chairman of Betfred, said: “I am delighted to have secured this arrangement with Barclays, Santander UK, Yorkshire Bank and particularly pleased to have M&G Investments as a new partner.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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