Entain Plc has unveiled plans to launch a bond offering that will place an equivalent of €800m of corporate notes for the purpose of refinancing existing euro-denominated debt facilities.

The FTSE100 gambling group said the new issue will consist of fixed-rate senior secured notes, in euros and/or sterling, due in 2031 and carrying the same security rights as Entain’s existing Term Loan B facilities.

Investors were informed that refinancing should have no increase in Entain existing debt levels of circa €3.9bn.

The transaction will form part of its strategy to strengthen its balance sheet, as funds will help extend debt maturities, lower interest costs, and broaden financing sources to support a more stable long-term structure.

The final details of the bond offering related to interest rate, price, and currency mix  will be set when the bonds are priced, depending on market conditions. Entain said it will provide an update once the deal is complete.

Entain underlined that the initiative continues its disciplined financial management following a series of debt maturities and refinancing actions executed in 2024 and 2025 to improve the financial management of its core brands of as Ladbrokes, Coral, bwin, STS Poland, and SuperSport.

Entain remains a UK tax-resident and operates exclusively in regulated or regulating markets across more than 30 jurisdictions, maintaining its position as one of the world’s largest online and retail gaming groups. 

The company also highlighted its ESG leadership, noting its AAA rating from MSCI and membership in both FTSE4Good and the Dow Jones Sustainability Index.

In October, Entain reiterated its full-year 2025 guidance following robust Q3 performance, which showed continued strength across both domestic and international operations. 

The group reported a 15% increase in UK online revenues, even as growth slowed within its Ladbrokes Coral retail network. The impact of highly likely tax increases expected to be announced by the UK government later this month could dampen this spirit, however.

In the face of this, Entain has retained confidence that it will return to profitability in 2025, delivering on the initial pledge of new CEO Stella David, following back-to-back statutory losses of £890m in FY2023 and £450m in FY2024.