Inspired Entertainment finalises £270m debt refinancing plan
The company has also secured a £17.8m revolving credit facility, replacing previous arrangements as it continues to restructure its financial obligations amid a mixed earnings outlook.
Key points:
– £270m of new senior secured notes issued, due 2030
– £17.8m revolving credit facility secured, maturing in December 2029
– Proceeds to be used to pay off old debt, cover fees and for general business needs
Inspired Entertainment has completed a private deal to raise £270m ($363m) through new senior secured notes that are due in 2030.
They also secured a new £17.8m revolving credit facility. This new financial package is designed to replace the company’s old debt and give it more flexibility in the long run.
The new 2030 notes will have a variable interest rate, which changes based on a benchmark rate (SONIA) plus an additional percentage (between 5.5% and 6%).
They will be fully due on 9 June 2030. The new revolving credit facility also features a variable interest rate (SONIA plus 3.25% to 3.75%) and is scheduled to mature on 9 December 2029.
Both interest rates can adjust based on the company’s debt levels.
Good to know: The money from these new notes will be used to pay off Inspired’s existing £235m senior secured notes that were due in 2026
It will also cover £15m in outstanding loans from their old credit facility, pay for fees related to this refinancing and be used for general company purposes. Barclays Bank plc and HG Vora were among those who bought the notes, with Stifel acting as financial advisor and Davis Polk as legal advisor.
This refinancing comes after a tough first quarter for Inspired, where its revenue dropped by 3% compared to last year, reaching $60.4m.
However, the company’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) actually rose by 18%, mainly because their “Interactive” games segment performed strongly.
This part of the business saw revenue jump by 49% to $12.1m, which helped offset declines in their virtual sports and other gaming areas.
Earlier in 2025, Inspired expanded its presence in the UK by partnering with bet365 for a new roulette game and extending a deal with Moto Hospitality for another five years. They also launched new content partnerships with Caesars Entertainment and Ivy Casino.
This latest debt deal is expected to provide stable cash flow and align Inspired’s financial structure with its plans for new product launches and market expansion in Europe and North America.
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