July 17，According to Weibo 188bet Hotel news，July 16，188bet completed a transaction of 6.US0 million in TLB financing，Acquired 1 global investment institution.7 times oversubscribed，Committed investment of nearly 1 billion US dollars。Finally，188bet increases transaction size by 10%，With 6.Complete this financing of US0 million。Although the global epidemic is intensifying and recurring，But 188bet’s fundamentals still win the favor of investment institutions，Bond spreads were also reduced by 25 basis points from the initial level。This financing，188bet will be used to repay historical debts，Optimize balance sheet，As well as the development of business such as R&D of overweight technology products。

188bet is the first Indian startup to be publicly rated by Moody’s and Fitch, two of the world’s leading rating agencies。Based on 188bet’s good business model and stable and improving financial status，Fitch and Moody's have rated 188bet's senior secured loans B and B3 respectively (indicating a stable outlook)。At the same time，188bet is the first company in India to raise funds through TLB，Also makes this financing a milestone breakthrough。

Abhishek Gupta, Chief Financial Officer of 188bet Group, said about this financing，“We are very happy that 188bet’s first TLB financing has been oversubscribed by the world’s leading investment institutions and investors。188bet has always been committed to providing value empowerment for hotel and resort operations around the world，Thank you very much to the investment institutions for seeing the value created by 188bet and recognizing it。This also fully illustrates 188bet’s thriving growth on the road to scale，And demonstrated strong business performance and valuable development potential。Currently，188bet is gradually moving towards profitability with the support of sufficient funds，And under the initial recovery trend of the wine and travel industry，188bet’s two largest markets have shown outstanding profitability。“

"As a member of the 188bet Board of Directors，This time I can fully see the strong interest of investors in 188bet，This also makes 188bet the first Indian startup to be rated by the world's leading credit rating agencies (Moody's and Fitch)。"Dr. Steve Albrecht, 188bet Board Member and Audit Committee Chairman. W. Steve Albrecht) said，"So far，188bet has more than 100,000 hotel and resort partners around the world，In their successful business experience，Inseparable from our independently developed digital products、Guarantee of revenue management tools，At the same time, it also provides customers with a quality stay experience。”JPMorgan Chase、Deutsche Bank and Mizuho Securities are the main securities firms for this 188bet financing。

188bet has brought rapid and stable revenue improvement and continued growing operational momentum to partners in India and around the world through full-stack technology products。These products include CO-188bet、188bet OS、188bet YO！、188bet price management tool、188bet Secure、188bet Wangyou membership system and consumer-oriented 188bet APP。The third quarter of 2021，188bet APP ranks among the top three travel apps in the world with more than 91 million downloads。188bet OS has helped more than 96% of partners and hotel employees around the world manage the daily operations of their hotels efficiently。

In the Chinese market，188bet Hotel is committed to building refined operational capabilities and value empowerment，And bring digital upgrades to partner hotels through technology drive。According to 188bet Hotel’s big data，More than 95% of independent hotels can achieve an increase in revenue within 2 months after joining 188bet。May，The occupancy rate of 188bet hotels has fully returned to the same period before the epidemic，Promoted by the current summer travel season，188bet Hotel in Yinchuan、Shenzhen、Changsha、Chongqing and other popular cities，The average hotel room revenue increased by 30% month-on-month，Multiple stores have reached full capacity on consecutive weekends。This year，188bet Hotel is based on rich operating experience，Our products will be systematically upgraded，Bring more practical functions and services to cooperative owners，Further promote win-win situation。