XML 100 R83.htm IDEA: XBRL DOCUMENT v3.22.4
Long Term and Other Debt (Details Narrative)
€ in Millions, £ in Millions, $ in Millions
12 Months Ended
May 20, 2021
USD ($)
Jun. 25, 2020
USD ($)
Jun. 25, 2020
GBP (£)
Dec. 31, 2022
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2022
EUR (€)
Dec. 31, 2022
GBP (£)
May 20, 2021
GBP (£)
Debt Instrument [Line Items]                
Principal of face amount       $ 24.1     £ 20.0  
Debt interest rate       5.50%   5.50% 5.50%  
Interest expense       $ 0.7        
Senior Facilities Agreement [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 168.6     £ 140.0  
Debt interest rate       7.25%   7.25% 7.25%  
Debt fee         $ 3.1      
Interest expense         $ 1.0      
Senior Facilities Agreement [Member] | London Interbank Offered Rate (LIBOR) Swap Rate [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 96.1   € 90.0    
Debt interest rate       6.75%   6.75% 6.75%  
Senior Facilities Agreement [Member] | Revolving Credit Facility [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 24.1     £ 20.0  
Senior Facilities Agreement [Member] | London Interbank Offered Rate (LIBOR) Swap Rate [Member]                
Debt Instrument [Line Items]                
Cash interest cost percentage       30.00%        
Tranches One of Senior Secured Term Loans [Member] | Senior Facilities Agreement [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 168.6     140.0  
Tranche Two of Senior Secured Term Loans [Member] | Senior Facilities Agreement [Member]                
Debt Instrument [Line Items]                
Principal of face amount       96.1   € 90.0    
Termination of Prior Financing [Member]                
Debt Instrument [Line Items]                
Debt fee $ 14.4              
Minimum [Member] | Amendment and Restatement Agreement [Member] | London Interbank Offered Rate (LIBOR) Swap Rate [Member]                
Debt Instrument [Line Items]                
Debt interest rate   1.00% 1.00%          
Senior Secured Notes [Member] | Termination of Prior Financing [Member] | Tranche One [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 175.5     £ 145.8  
Debt interest rate       8.25%   8.25% 8.25%  
Senior Secured Notes [Member] | Termination of Prior Financing [Member] | Tranche Two [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 99.4   € 93.1    
Debt interest rate       7.75%   7.75% 7.75%  
Senior Secured Notes [Member] | Inspired Entertainment Financing PLC [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 282.9       £ 235.0
Debt interest rate 7.875%             7.875%
Maturity date Jun. 01, 2026              
Debt instrument, redemption, description Inspired Entertainment (Financing) PLC may redeem the Senior Secured Notes, in whole or in part, at any time and from time to time prior to June 1, 2023, at a redemption price equal to 100% of the principal amount thereof, plus a “make-whole” premium as set forth in the Indenture and form of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. Inspired Entertainment (Financing) PLC may also redeem the Senior Secured Notes, in whole or in part, at any time and from time to time on or after June 1, 2023, at the redemption prices set forth in the Indenture and form of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, at any time prior to June 1, 2023, Inspired Entertainment (Financing) PLC may redeem up to 40% of the original aggregate principal amount of the Senior Secured Notes with the net cash proceeds of one or more equity offerings, as described in the Indenture, at a redemption price equal to 107.875% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. At any time prior to June 1, 2023, Inspired Entertainment (Financing) PLC may redeem up to 10% of the aggregate principal amount of the Senior Secured Notes within each 12-month period at a redemption price equal to 103% of the aggregate principal amount of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.              
Revolving Credit Facility [Member] | Lenders [Member]                
Debt Instrument [Line Items]                
Principal of face amount $ 24.1             £ 20.0
Line of credit facility, interest rate description The RCF Loans will bear interest at a rate per annum equal to (i) SONIA for borrowings in sterling, (ii) LIBOR (or, on and after December 31, 2021, SOFR) for borrowings in dollars, or (iii) EURIBOR for borrowings in Euro, as applicable, plus, in each case, a margin (based on the Company’s consolidated senior secured net leverage ratio) ranging from 4.25% to 4.75% per annum. With respect to the RCF Loan, a commitment fee of 30% of the then applicable margin is payable at any time on any unutilized portion of the RCF Loan.              
Commitments fees, percentage 30.00%              
Line of credit, expiration date Nov. 20, 2025              
Revolving Credit Facility [Member] | Lenders [Member] | Minimum [Member]                
Debt Instrument [Line Items]                
Line of credit, interest rate 4.25%              
Revolving Credit Facility [Member] | Lenders [Member] | Maximum [Member]                
Debt Instrument [Line Items]                
Line of credit, interest rate 4.75%              
Commitments fees, percentage 66.67%              
Secured Revolving Facility Loan [Member] | Termination of Prior Financing [Member]                
Debt Instrument [Line Items]                
Principal of face amount       $ 24.1     £ 20.0  
UK Coronavirus Large Business Interruption Loan [Member] | Amendment and Restatement Agreement [Member]                
Debt Instrument [Line Items]                
Additional indebtedness amount   $ 12.0 £ 10.0          
Debt description   (A) an unlimited amount, as long as, pro forma for the utilization of such indebtedness, the consolidated total net leverage ratio does not exceed the lower of 3.4:1 and the then applicable ratio with respect to the consolidated total net leverage financial covenant summarized further below, plus (B) an amount equal to the greater of £16.0 million ($19.2 million) and 25% of the consolidated pro forma EBITDA of the Company and its subsidiaries for the relevant period (as defined, but disregarding, for the purposes of calculating the usage of such cap, any financial indebtedness applied to refinancing other financial indebtedness, together with any related interest, fees, costs and expenses) (A) an unlimited amount, as long as, pro forma for the utilization of such indebtedness, the consolidated total net leverage ratio does not exceed the lower of 3.4:1 and the then applicable ratio with respect to the consolidated total net leverage financial covenant summarized further below, plus (B) an amount equal to the greater of £16.0 million ($19.2 million) and 25% of the consolidated pro forma EBITDA of the Company and its subsidiaries for the relevant period (as defined, but disregarding, for the purposes of calculating the usage of such cap, any financial indebtedness applied to refinancing other financial indebtedness, together with any related interest, fees, costs and expenses)          
Prepayment premium rate   0.75% 0.75%