GSO in refinancing deal with Amaya Gaming Group

GSO Capital Partners has agreed to a deal to refinance the credit facilities of Amaya Gaming Group’s wholly-owned subsidiary, slot machine manufacturer Cadillac Jack. Quebec-based Amaya Gaming is a portfolio company of Difference Capital. The Credit Facilities will be used to repay the outstanding balance on a 2012 loan and to fund the ongoing working capital and other general corporate purposes of Cadillac Jack.

PRESS RELEASE

Amaya Announces Refinancing of Cadillac Jack Credit Facilities

MONTREAL, Dec. 20, 2013 /CNW Telbec/ – Amaya Gaming Group Inc. (“Amaya” or the “Corporation”) (TSX: AYA) is pleased to announce that its wholly-owned subsidiary, Cadillac Jack Inc. (“Cadillac Jack”), has entered into an agreement for the refinancing of its credit facilities. The debt for the transaction was provided by an entity sub-advised by an affiliate of GSO Capital Partners LP (“GSO”), Blackstone’s credit business. Under this agreement, Cadillac Jack will have access to term loans in an aggregate principal amount of up to $160 million (the “Credit Facilities”). The Credit Facilities have replaced the existing $110 million non-convertible senior term loan secured by Cadillac Jack’s assets and that was made available to Amaya to finance the acquisition of Cadillac Jack by Amaya, as of November 5, 2012 (the “2012 Loan”).

The Credit Facilities will be used to fully repay the outstanding balance on the 2012 Loan, as well as related fees and expenses and to fund the ongoing working capital and other general corporate purposes of Cadillac Jack.

The Credit Facilities have a term of 5 years from the closing date and are secured by the assets of Cadillac Jack and its subsidiaries. Amaya has provided an unsecured guarantee of the obligations of Cadillac Jack in favour of the lenders.

 ABOUT AMAYA

Amaya provides a full suite of gaming products and services including casino, poker, sportsbook, platform, lotteries and slot machines. Some of the world’s largest gaming operators and casinos are powered by Amaya’s online, mobile, and land-based products. Amaya is present in all major gaming markets in the world with offices in North America, Latin America and Europe. Amaya recently acquired Cryptologic, a pioneer within online casino, Ongame, a leader within online poker, and Cadillac Jack, a successful slot machine manufacturer. For more information please visit www.amayagaming.com.

SOURCE Amaya Gaming Group Inc.

For further information:
For investor or media inquiries, please contact:

Tim Foran
Tel: 416-815-0700 ext. 251
NA toll free: 1-800-385-5451 ext. 251
ir@amayagaming.com

Photo courtesy of Shutterstock.