BC Partners to restructure debt in Regency Entertainment

The company was acquired for €1bn in 2006 and the deal was financed with a large debt package.

It is understood the casino's earnings have been lower than expected following a drop in consumer spending owing to the financial problems facing the country. Creditors claim the company had added gaming tax to its profits to avoid a threatened breach of its banking covenants.

The debt restructuring of Regency Entertainment is the latest of a number of highly leveraged deals from the pre-crisis era that have run into problems.

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• Topics
• Southern Europe
• Restructuring
• Consumer
• Greece
• BC Partners