Private lenders including TPG Angelo Gordon International , Oaktree Capital Management and Oak Hill Capital Partners are set to provide around €1 billion ($1.2 billion) of funding for the acquisition of gambling firm Evoke Plc by Bally’s Intralot . Man Group Plc , Schonfeld Strategic Advisors and Shenkman Capital Management are also among the funds contributing to the package, which will help refi...
Private lenders including TPG Angelo Gordon International , Oaktree Capital Management and Oak Hill Capital Partners are set to provide around €1 billion ($1.2 billion) of funding for the acquisition of gambling firm Evoke Plc by Bally’s Intralot . Man Group Plc , Schonfeld Strategic Advisors and Shenkman Capital Management are also among the funds contributing to the package, which will help refinance €945 million of debt coming due in 2028, according to a filing on Friday. The financing for the Evoke acquisition is the latest example of how companies can tap alternative sources of capital — including from funds focused on distressed companies, special situations and opportunistic investments — when they struggle to access traditional types of funding. Evoke has been grappling with a high debt burden and rising gambling taxes in the UK, leading to investor scrutiny and rating downgrades. Read more: Traders Bet Against Gambling Firms After UK Tax Bump: The Brink The new financing will be denominated in euros with an interest rate of 11% and its providers will have access to the same collateral as Evoke’s senior secured bondholders. They will rank behind holders of the notes due in 2030 and 2031, which won’t be refinanced as part of the deal, according to the filing. The new money comes with a clause entailing a partial mandatory prepayment of £200 million by the end of 2027, the company said. Intralot has said it will support that pay-down, and that it will also fund synergy-related costs of up to £50 million. The acquisition and the overhaul of Evoke’s capital structure need the consent of current creditors. The firm has already obtained a preemptive waiver from the lenders behind its revolving credit facility, as well as the support of a required majority of holders of the 2030 and 2031 bonds, according to the filing. Evoke will invite remaining bondholders to express their consent for the deal in the upcoming days. Following the acquisition, the Evoke board expec...
SpaceX and its founder, Elon Musk, are attempting to do something that has never been done. The company is hoping to raise at least $75 billion at a valuation of at least $1.8 trillion, which would make it the largest initial public offering of all time. Furthermore, the company is really asking investors to give it the benefit of the doubt. SpaceX only grew revenue by about 33% year over year in ...
SpaceX and its founder, Elon Musk, are attempting to do something that has never been done. The company is hoping to raise at least $75 billion at a valuation of at least $1.8 trillion, which would make it the largest initial public offering of all time. Furthermore, the company is really asking investors to give it the benefit of the doubt. SpaceX only grew revenue by about 33% year over year in 2025. While the company runs some incredibly compelling businesses, such as its Starlink satellite internet service, which has over 10 million users and is currently powered by over 10,000 low-Earth-orbit satellites, space is a relatively new frontier, at least in the way SpaceX is attempting to operate. Investors aren't normally ones to take such risks. Continue reading
Alexandr Wang, Chief AI Officer at Meta discusses model development, infrastructure investment and AI competition with Bloomberg’s Kurt Wagner at Bloomberg Tech 2026 in San Francisco. (Source: Bloomberg)
Alexandr Wang, Chief AI Officer at Meta discusses model development, infrastructure investment and AI competition with Bloomberg’s Kurt Wagner at Bloomberg Tech 2026 in San Francisco. (Source: Bloomberg)
China’s push to turn data into a tradable financial asset is running into an uncomfortable reality: while policymakers have built the accounting framework for data capitalization, the market still struggles to determine what most data is actually worth. A recent attempt by a local government financing vehicle (LGFV) in Zhejiang province illustrates the problem. The company planned to use operation...
China’s push to turn data into a tradable financial asset is running into an uncomfortable reality: while policymakers have built the accounting framework for data capitalization, the market still struggles to determine what most data is actually worth. A recent attempt by a local government financing vehicle (LGFV) in Zhejiang province illustrates the problem. The company planned to use operational data generated by its parking lots — including traffic flows, payment records and vehicle management information — to capitalize data assets and pursue financing.
Diego Fedele/Getty Images News "Enough of war," Ukrainian President Volodymyr Zelenskyy said while proposing a face-to-face meeting with Russia's Vladimir Putin to end hostilities and a ceasefire during the negotiations. "We see that the United States is fully focused on the issue of Iran, and it would be wrong to simply wait until the war in Europe returns to the center of its attention," Zelensk...
Diego Fedele/Getty Images News "Enough of war," Ukrainian President Volodymyr Zelenskyy said while proposing a face-to-face meeting with Russia's Vladimir Putin to end hostilities and a ceasefire during the negotiations. "We see that the United States is fully focused on the issue of Iran, and it would be wrong to simply wait until the war in Europe returns to the center of its attention," Zelenskyy wrote in an open letter to Putin. "Ukraine proposes ending this war through direct engagement between us — and you," he added. "Switzerland, Türkiye, the countries of the Arab world — many are able and willing to host such a meeting." Zelenskyy said Europe — "those who truly have the capacity to influence the situation" — and the U.S. should be part of this process. He affirmed that Ukraine would continue fighting for its existence, but warned Putin of Russians' growing fatigue with the war. "You, too, will have to fight much harder for your own existence — not Russia's, but your own. It is a fact of Russian history that you know well: when Russia grows tired, change comes." "There is no need to suspend the hostilities to start negotiations," Putin told reporters on Thursday. "Naturally, the Ukrainian side would like us to halt our advances. But it would be better to end the war by agreeing to the compromises that were discussed in Anchorage." Putin was referring to his summit with U.S. President Donald Trump in Alaska last year, where he called for Ukraine to cede territory — a demand that Kyiv has repeatedly ruled out - and end its efforts to join NATO. Separately, the U.S. House of Representatives voted 226 to 195 to pass the Ukraine Support Act. The legislation includes over $1B in aid, up to $8B in loans for Ukraine's defense and new sanctions on Russia. The bill must be passed by the Senate, where Trump's allies could dash the measure. Even if it cleared the vote, the bill could be vetoed by Trump. More on defense EUAD: My Favorite ETF Strategy On Top Of Europe Def...
Adam Katz, Head of Entrepreneurs & Founders at Corient speaks with Bloomberg’s Mark Miller about founder strategy and wealth management trends at Bloomberg Tech 2026 in San Francisco. (Source: Bloomberg)
Adam Katz, Head of Entrepreneurs & Founders at Corient speaks with Bloomberg’s Mark Miller about founder strategy and wealth management trends at Bloomberg Tech 2026 in San Francisco. (Source: Bloomberg)
Stock market information on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, May 26, 2026. Wall Street kicked off the holiday-shortened week with stocks joining bonds higher as hopes for a peace deal between the US and Iran overshadowed military strikes in the Persian Gulf. Photographer: Michael Nagle/Bloomberg
Stock market information on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, May 26, 2026. Wall Street kicked off the holiday-shortened week with stocks joining bonds higher as hopes for a peace deal between the US and Iran overshadowed military strikes in the Persian Gulf. Photographer: Michael Nagle/Bloomberg