Commences debt repayment with significant paydown
Source: RNS
GAMESYS GROUP PLC
Commences debt repayment with significant paydown
LONDON (UK), 2 March 2020 - Gamesys Group plc (LSE: GYS) (the "Company"), a leading international online gaming operator, is pleased to announce a significant repayment of its current debt balance.
The Company has made the first paydown of £40 million towards its debt balances. The paydown represents more than 15% of the Company's outstanding GBP debt and is approximately 7% of total outstanding debt, including its EUR tranche.
Keith Laslop, Chief Financial Officer, said: "As we've stated previously, a key strategic goal for the Board is to have our long-term leverage ratio in-line with our peers, which is currently in the range of 1-2 times adjusted EBITDA. Our significant cash generation allows us to rapidly de-lever and today's paydown is an important first step in attaining that goal."
About Gamesys Group plc
Gamesys Group plc is the parent company of an online gaming group that provides entertainment to a global consumer base. Through its subsidiaries, Gamesys Group plc currently offers bingo and casino games to its customers using brands which include Jackpotjoy (www.jackpotjoy.com), Virgin Games (www.virgingames.com), Botemania (www.botemania.es), Vera&John (www.verajohn.com), Heart Bingo (www.heartbingo.co.uk) and Monopoly Casino (www.monopolycasino.com). For more information about Gamesys Group plc, please visit www.gamesysgroup.com.
Enquiries
Gamesys Group plc
Jason Holden
Director of Investor Relations
+44 (0) 207 478 8150
Finsbury
James Leviton
Andy Parnis
+44 (0) 207 251 3801
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