Secure adnxs

GBP 351 million bond repayment should bolster a waning share price


The lackluster performance of the UK gambling group Ladbroke's shares could receive a fillip in the coming week, when the company repays a GBP 351 million bond - a sign that the company still has cash-generating capability despite its low share price, near GBP 1 billion debt burden and last week's Fitch downgrade of the stock after a miserable May trading statement .

Over the weekend the business section of The Telegraph newspaper reported that the UK gambling sector had been hit by a dramatic fall off in consumer spending that has forced private equity owners to write off their stakes in Ladbrokes rival Gala Coral.

Ladbrokes, which has a total of 2 700 betting shops in the UK and overseas and takes GBP 14 billion in stakes each year, has net debt of GBP 900 million, already down by GBP 87 million from a December 2008 repayment.

The bonds will be paid on July 17 by drawing down cash from a new GBP 500 million bank facility, a Ladbrokes spokesman revealed. The bookie also has an additional loan of GBP 350 million that must be re-paid in 2011 ands GBP 250 million bond with a hefty 7.1percent interest charge due in 2012.

This month's bond re-payment will, however, give the group time to refinance its re-packaged debt burden.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from us flag United States read article LCB Approved Casino: LimoPlay

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    21
  • Members Online
    453
  • Guests
    1,565
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (362 Ratings)
Mobil6000
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (72 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (337 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (299 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (354 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (326 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (410 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (280 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (432 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (318 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (598 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (665 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (391 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (365 Ratings)
Cashmio
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (62 Ratings)
SlotsMillion
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (225 Ratings)
Rizk Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (111 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (460 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (393 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (454 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (220 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (666 Ratings)
PokerStars Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (78 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (501 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (469 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (413 Ratings)
SlotJoint Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (110 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (239 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (238 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (595 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus