{"id":278,"date":"2024-06-28T15:29:50","date_gmt":"2024-06-28T12:29:50","guid":{"rendered":"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/"},"modified":"2024-06-28T15:29:50","modified_gmt":"2024-06-28T12:29:50","slug":"888-secures-e200-million-to-reorganize-william-hill-debt","status":"publish","type":"post","link":"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/","title":{"rendered":"888 Secures \u20ac200 Million to Reorganize William Hill Debt"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/GsvytHEKmYc\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Eight Eight Eight declared it will secure two hundred million euros (two hundred and nine point six million dollars\/one hundred and seventy-two point seven million pounds) from the debt market to reorganize debt connected to the company&#8217;s purchase of the William Hill brand.<\/p>\n<p>The enterprise will acquire the funds through its Eight Eight Eight Acquisition subsidiary by issuing senior secured fixed-rate notes expiring in twenty-twenty-seven and senior secured floating-rate notes expiring in twenty-twenty-eight, with a rate of seven point five five eight percent.<\/p>\n<p>This debt is similar to the debt Eight Eight Eight issued in July, when the company obtained seven hundred million euros to pay back &#8220;outstanding amounts under certain acquisition financing agreements&#8221; made when it bought the William Hill business, as well as to pay back some of the acquisition target&#8217;s own debt.<\/p>\n<p>The funds will be used to repay the company&#8217;s three hundred and forty-seven million pound sterling-denominated loan taken to buy William Hill.<\/p>\n<p>Eight Eight Eight stated that the company &#8220;will enter into suitable hedging arrangements and it is expected that this transaction will not have a significant effect on the Group&#8217;s overall cost of debt, cash interest cost or leverage.&#8221;<\/p>\n<p>Excessively leveraged. <\/p>\n<p>During the eleventh month, 888 declared that, owing to its substantial debt, the business is more susceptible to increasing interest rates.<\/p>\n<p>The debt levels are more significant than anticipated prior to the acquisition of William Hill due to the final structure of the agreement. 888&#8217;s debt is 5.7 times its earnings, &#8220;considerably higher&#8221; than its medium-term objective of 3 times.<\/p>\n<p>The company is highly vulnerable to rising interest rates as only 36% of its total debt is fixed-rate, with the remaining portion being impacted by variable rates. Central banks in Europe and the United States are increasing interest rates due to global economic conditions and are projected to continue doing so in the foreseeable future.<\/p>\n<p>&#8220;Although our current leverage is above our medium-term target, our streamlined operations and financial discipline will provide us with a clear path to reduce leverage below 3.5 times by the end of 2025,&#8221; stated 888 CEO Itai Pazner.<\/p>\n<p>Despite the difficulties presented by the leveraged debt, Pazner remains optimistic about the potential for collaboration between 888 and William Hill.<\/p>\n<p>&#8220;Our long-term potential remains exciting. Developing a unified technological platform will provide us with genuine future growth opportunities, and we will utilize our world-class brands, products, and content leadership, and customer excellence to set the stage for our next decade of expansion.&#8221;<\/p>\n<p>Sign up for the iGaming news bulletin. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eight Eight Eight declared it will secure two hundred million euros (two hundred and nine point six million dollars\/one hundred and seventy-two point seven million pounds) from the debt market to reorganize debt connected to the company&#8217;s purchase of the William Hill brand. The enterprise will acquire the funds through its Eight Eight Eight Acquisition [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eight Eight Eight Secures \u20ac200M for William Hill Reorganization<\/title>\n<meta name=\"description\" content=\"Eight Eight Eight secures \u20ac200 million from the debt market to restructure debt related to its acquisition of the William Hill brand.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"888 Secures \u20ac200 Million to Reorganize William Hill Debt\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Eight Eight Eight secures \u20ac200 million from the debt market to restructure debt related to its acquisition of the William Hill brand.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Stay Informed &amp; Win Big at Our Licensed Online Casino\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T12:29:50+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/\",\"url\":\"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/\",\"name\":\"Eight Eight Eight Secures \u20ac200M for William Hill Reorganization\",\"isPartOf\":{\"@id\":\"https:\/\/vegas2web100freespins.icu\/#website\"},\"datePublished\":\"2024-06-28T12:29:50+00:00\",\"dateModified\":\"2024-06-28T12:29:50+00:00\",\"author\":{\"@id\":\"https:\/\/vegas2web100freespins.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Eight Eight Eight secures \u20ac200 million from the debt market to restructure debt related to its acquisition of the William Hill brand.\",\"breadcrumb\":{\"@id\":\"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/vegas2web100freespins.icu\/2024\/06\/28\/888-secures-e200-million-to-reorganize-william-hill-debt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/vegas2web100freespins.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"888 Secures \u20ac200 Million to Reorganize William Hill Debt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/vegas2web100freespins.icu\/#website\",\"url\":\"https:\/\/vegas2web100freespins.icu\/\",\"name\":\"Stay Informed &amp; Win Big at Our Licensed Online Casino\",\"description\":\"Stay on top of the online gambling world with our regularly updated news, honest reviews, and expert articles. 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