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    888   GI000A0F6407

888 HOLDINGS PLC

(888)
  Report
Real-time Estimate Cboe Europe  -  11:30 2022-07-05 am EDT
162.20 GBX   -6.62%
05:24aDeutsche Bank Initiates 888 Coverage With Buy Rating
MT
07/03888's $1.2 Billion Bond Deal Hits Snag on Low Investor Demand
MT
07/01Caesars Entertainment Closes Sale of William Hill Non-US Assets to 888 Holdings
MT
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888 to Offer GBP1.02 Billion in Notes, Borrow Up to GBP909 Million to Fund William Hill Deal

06/23/2022 | 03:57am EDT

By Kyle Morris


888 Holdings PLC said Thursday that it intends to issue 1.02 billion pounds ($1.25 billion) in notes and borrow up to GBP909 million to fund its deal for the international business of William Hill.

The online betting and gaming company said it will market GBP1.02 billion in senior secured indebtedness, comprising a U.S. dollar-denominated term loan B facility maturing in 2028, a euro-denominated senior secured fixed rate note due 2027 and a euro-denominated senior secured floating rate note due 2028.

Furthermore, it will enter a GBP401 million euro-denominated term loan facility and a GBP358 million pound-denominated term loan facility, each maturing in 2028. It also expects to enter into a GBP150 million multicurrency revolving credit facility.

888 has agreed to buy William Hill's international business from Caesars Entertainment, Inc. for a revised GBP1.95 billion-GBP2.05 billion, from the original stated amount of GBP2.2 billion.

Shares in 888 at 0711 GMT were down 10.00 pence, or 5.7%, at 165.30 pence.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

06-23-22 0356ET

Stocks mentioned in the article
ChangeLast1st jan.
888 HOLDINGS PLC -7.31% 161.2 Delayed Quote.-42.29%
CAESARS ENTERTAINMENT, INC. 0.93% 38.895 Delayed Quote.-58.80%
All news about 888 HOLDINGS PLC
05:24aDeutsche Bank Initiates 888 Coverage With Buy Rating
MT
07/03888's $1.2 Billion Bond Deal Hits Snag on Low Investor Demand
MT
07/01Caesars Entertainment Closes Sale of William Hill Non-US Assets to 888 Holdings
MT
07/01888 says William Hill's top execs to step down after deal closing
RE
07/01888 Holdings Completes Acquisition of William Hill's International Business
MT
07/01888 Holdings plc completed the acquisition of International (non-US) business of Willia..
CI
06/26888 Gets First-time Rating from Fitch Amid William Hill Deal; Outlook Negative
MT
06/23888 to Offer GBP1.02 Billion in Notes, Borrow Up to GBP909 Million to Fund William Hill..
DJ
06/23888 to Offer $1.25 Billion of Senior Secured Debt
MT
06/23888's H1 Revenue to Decline Amid Gambling Measures, Temporary Dutch Exit
MT
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Analyst Recommendations on 888 HOLDINGS PLC
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Financials (USD)
Sales 2022 2 215 M - -
Net income 2022 -16,7 M - -
Net Debt 2022 299 M - -
P/E ratio 2022 -57,7x
Yield 2022 0,34%
Capitalization 939 M 939 M -
EV / Sales 2022 0,56x
EV / Sales 2023 0,53x
Nbr of Employees 1 746
Free-Float 75,6%
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Technical analysis trends 888 HOLDINGS PLC
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Mean consensus BUY
Number of Analysts 8
Last Close Price 2,10 $
Average target price 5,33 $
Spread / Average Target 153%
EPS Revisions
Managers and Directors
Itai Pazner Chief Executive Officer & Executive Director
Yariv Dafna Chief Financial Officer & Director
Jonathan Mendelsohn Chairman
Naama Kushnir Chief Operating Officer
Zvika Zivlin Independent Non-Executive Director
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