Troubled Waterland-backed JVH Gaming in the hot seat

According to sources, troubled Dutch gaming company JVH Gaming is negotiating a restructuring of its EUR295m buyout debt package after one of its waivers ran out.

Meanwhile AXA Private Equity has offered to buy the company's debt for approximately 79% in the euro. This proposal would be more attractive for the private equity consortium that supports the company as it results in an immediate cash payment for its members.

Founded in 1958, JVH Gaming is one of the largest gaming machines operators in the Netherlands and is supported by a private equity consortium led by Waterland. The company is facing difficulties due to increasing tax for slot machine operators and the smoking ban driving customers away.

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