Press Release

Kirkland Advises Ad Hoc Group of Bondholders on Olympic Entertainment Restructuring

Kirkland & Ellis advised the ad hoc group of holders of notes issued by Olympic Entertainment Group (“the Group”) on successfully reaching agreement on the key terms of a restructuring. The ad hoc group comprises c.92% of the €200 million senior secured notes due 2023 (“the Notes”) issued by Odyssey Europe Holdco S.à r.l. (“the Company”). 

The terms of the restructuring, and related amendment and extension of the Notes, include the reinstatement of the assets that were hived out of the Group in 2020 (namely, the online business and the Lithuanian business), in addition to a €25 million capital contribution from the Group’s shareholder. The Company and the ad hoc group have signed a term sheet and lock-up agreement providing for implementation of the transaction by way of a consent solicitation.

Read the Group’s press release

The Kirkland team comprised restructuring partners Kon Asimacopoulos and Thomas Jemmett and associate Gabe Harley, and capital markets partners William Burke and Michael Taufner.