Entain Launches €800m Bond Offering to Extend Debt Maturity and Cut Financing Costs

The company plans to raise at least €800 million ($925 million) through euro- and/or sterling-denominated senior secured notes due 2031 as part of a leverage-neutral refinancing initiative.

According to the statement, the new notes are expected to be guaranteed and secured on a pari passu basis with Entain’s existing Term Loan B facilities. Proceeds from the issuance will be used to repay amounts outstanding under the company’s euro-denominated Term Loan B facilities, provided the offering is successfully completed.

The transaction is designed to extend Entain’s debt maturity profile, diversify its funding sources, and lower its annual interest expenses. The final size, pricing, and other terms of the notes will be determined at the time of issuance, subject to prevailing market conditions. Entain said it would provide further updates once available.

The offering is being made solely to non-U.S. investors outside the United States under Regulation S and will not be offered to retail investors in the UK or EU, in compliance with applicable prospectus and PRIIPs regulations. Entain emphasized that the announcement does not represent an offer to sell securities and that any investment decision should be based solely on the official offering memorandum. The company added that the notes will not be registered under U.S. securities laws and will be issued in offshore transactions.

Earlier this year, Entain reiterated its commitment to optimizing its capital structure while adapting to regulatory developments across key markets. The group has been implementing measures to streamline operations, manage compliance costs, and reinforce its financial position following a period of restructuring and increased regulatory oversight.

In parallel with its financing initiatives, Entain has continued to expand its product offering and regional partnerships. In October, its Central and Eastern European division, Entain CEE, signed an agreement with betting content supplier Beter to deliver fast-betting esports and sports competitions — including the ESportsBattle formats and the Setka Cup table tennis series — to SuperSport in Croatia and STS in Poland.

The group said that rapid-cycle betting content remains a vital element of its engagement strategy in Central and Eastern Europe, supporting growth across markets with rising demand for dynamic and data-driven gaming experiences.