Allwyn Secures €2.15 Billion in New Credit Facility
Lottery operator Allwyn has announced a substantial €2.15 billion ($2.51 billion) syndicated credit facility, secured through a consortium of international banks. This significant financial injection will support the company’s ongoing growth strategy and facilitate the refinancing of an existing debt obligation.
The new facility comprises a diverse range of loan instruments. This includes €900 million in bullet term loans, €500 million in delayed drawdown term loans, €400 million in amortizing term loans, and a €350 million multi-currency revolving credit facility. A portion of these funds will be used to retire the remaining balance of Allwyn’s previous €1.7 billion syndicated credit facility, with €1.2 billion already drawn down.
Understanding the Loan Structure
A key component of the financing is the €900 million bullet term loan. This type of loan requires a single repayment, inclusive of interest, at the end of the loan term, which in this instance is five and a half years.
Positive Financial Outlook
Allwyn’s CFO, Kenneth Morton, expressed his satisfaction with the transaction, highlighting the strong interest from existing and new banking partners. He emphasized that this successful syndication underscores the company’s robust creditworthiness and the confidence in its strategic direction. Morton further noted Allwyn’s continued access to capital markets, enabling the company to secure favorable pricing and terms across various financial instruments and currencies. He viewed this latest financing as a proactive step in managing the company’s capital structure, aiming to reduce interest expenses and extend the maturity profile of its debt.
Recent Developments and Financial Position
Allwyn’s first-quarter 2025 report indicated a pro rata net debt of €3.8 billion. The second quarter has been marked by several significant events, including the receipt of official certifications from the European Lotteries and World Lottery Association in early April. Furthermore, Allwyn’s North American division launched its e-instant games in Washington, D.C. during the same month.
However, the company has also faced recent regulatory challenges. The UK Gambling Commission initiated an investigation into Allwyn concerning its acquisition of the UK National Lottery license.
