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Caesars Entertainment, sponsors propose to increase contributions to CEOC's restructuring plan

Wednesday, 21 Sep 2016 03:45pm EDT

Caesars Entertainment Corp : Co Along With Affiliates Of Apollo Global Management, LLC And TPG Capital, L.P Proposed An Enhancement . Enhancement Related To Contributions To Caesars Entertainment Operating Company, Inc.'s Restructuring Plan . Proposal Consists Of Significant Cash Contribution In Excess Of $100 Million By Individual Directors Through Funding By D&O Insurance . Additional Value Consists Of About $92 Million Of Caesars Entertainment Equity Given By Co On Behalf Of Non-Sponsor Shareholders . Caesars Entertainment And Its Sponsors Propose To Increase Contributions To CEOC's Restructuring Plan . Revised Proposal Expires On Friday, September 23, 2016 . Proposal Has Additional Contributions That Will Result In About $1.6 Billion Of Additional Value Being Given To 2nd Lien Noteholders .Additional Value Consists Of Estimated $954 Million Of Caesars Entertainment Equity Contributed By Sponsors.

GVC Holdings says H1 adjusted pretax profit 51.3 mln euros

Tuesday, 20 Sep 2016 02:00am EDT

GVC Holdings Plc : H1 pro forma NGR increased 8 pct to 441.8 mln euros, 12 pct in constant currency . H1 clean EBITDA of 91.2 mln euros (25.5 mln euros H1 2015), pro forma clean EBITDA growth 42 pct . Committed to resumption of dividend payments in 2017 . H1 mobile sports wagers grew 55 pct, casino and games 98 pct . H1 adjusted PBT of 51.3 mln euros (21.8 mln euros H1 2015) . Net debt as at June 30 165.1 mln euros (154.3 mln euros as at July 24 2016) . Average daily NGR for 11 weeks to 15 september up 12 pct on a pro forma basis (15 pct in constant currency) . Confident of achieving a result at upper end of market expectations for 2016 .Organic growth opportunities from bwin.party acquisition greater than expected.


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