7 unchanged sentences
This could result in fewer patrons visiting our racetracks, gaming and wagering facilities, and online wagering sites and/or may impact our customers’ ability to wager with the same frequency and to maintain wagering levels.
−Removed: FORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2022
Interest rate and credit risk
Our primary exposure to market risk relates to changes in interest rates.
−Removed: On March 31, 2022, we had $680.0 million outstanding under our Credit Agreement related to Term Loans B/B-1, which bear interest at LIBOR based variable rates.
+Added: On June 30, 2022, we had $678.3 million outstanding under our Credit Agreement related to Term Loans B/B-1, which bear interest at LIBOR based variable rates.
+Added: On June 30, 2022, we had $800.0 million committed under our Credit Agreement related to our Delayed Draw Term Loan A.
+Added: The Term Loan A will bear interest at SOFR plus 10 basis points plus an applicable margin based on the Company's net leverage ratio once it is drawn.
We are exposed to market risk on variable rate debt due to potential adverse changes in these rates.
−Removed: Assuming the outstanding balance of the debt facility remains constant, a one-percentage point increase in the LIBOR rate would reduce net income and cash flows from operating activities by $4.9 million.
+Added: Assuming the outstanding balance of the Term Loans B/B-1 debt facility remains constant, a one-percentage point increase in the LIBOR rate would reduce net income and cash flows from operating activities by $4.8 million.
LIBOR is anticipated to be phased out by the end of 2023.
−Removed: The Credit Agreement Amendment establishes SOFR as an alternative rate (other than for the Term Loans B/B1, for which a general process for establishing an alternative reference rate is provided).
+Added: Assuming the Company was fully drawn on the Delayed Draw Term Loan A as of June 30, 2022, a one-
+Added: FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022
+Added: percentage point increase in the SOFR rate would reduce net income and cash flows from operating activities by $5.7 million.
+Added: The Fourth Amendment to the Credit Agreement establishes SOFR as an alternative rate (other than for the Term Loans B/B1, for which a general process for establishing an alternative reference rate is provided).
The impact of the use of alternative reference rates is not expected to have a material impact on our exposure to interest rate risk at this time.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.