Tag Archives: Plus500

Ader’s SpringOwl demands a Playtech ‘clean break from Teddy’

According to The Times, US activist investor Jason Ader has called on Playtech Plc to sever all ties with Israeli enterprise founder Teddy Sagi. During the course of 2018, Ader’s New York hedge fund SpringOwl Asset Management has been building up its investment in struggling FTSE250 Playtech Plc – demanding that the governance undertake a group-wide shake-up, boosting returns for investors. …

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Playtech confident of countering Asian headwinds to meet 2018 targets

FTSE250 gambling technology group Playtech Plc has this morning published its latest trading update informing investors that the company is on track to deliver its 2018 expected EBITDA range of €320-360 million. Issuing a short market guidance, Playtech governance details that its B2B Gaming Division continues to trade in line with the trends reported for its interim results in August, generating …

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Playtech offloads entire Plus500 shareholding

FTSE250 industry technology group Playtech Plc has confirmed this morning that it will sell its entire holding of ordinary shares in CFD trading platform Plus500. Updating investors, Playtech governance has sanctioned the sale of 11.4 million shares in Plus500, targeting a sale price of ‘1,550 pence per ordinary share’ – £176 million (€196m/$228m). Playtech’s current holding represents approximately 10% of Plus500’s issued …

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Spread betting firms count the cost of UK FCA clampdown

Business news sources have reported that around £1 billion has been wiped off the value of UK-listed spread betting operators, following the Financial Conduct Authority’s (FCA) industry clampdown on ‘contract for difference’ (CFDs). Yesterday the regulatory body proposed a number of new measures aiming to protect inexperienced consumers and improve overall industry standards. The measures include the introduction of risk …

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Playtech officially withdraws Ava Trade acquisition bid

FTSE listed gambling technology provider Playtech has confirmed that it has withdrawn its application to buy forex financial trading platform Ava Trade. As expected, the technology provider terminates its acquisition deal which had met regulatory opposition from the Central Bank of Ireland (CBI). Playtech confirmed that its CBI appeal had been allowed by the Irish Financial Services Appeals Tribunal on …

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Playtech ends £460 million acquisition of Plus500

Playtech governance has given up its planned £460 million acquisition of online contracts broker Plus500. Agreed in June, the acquisition of London listed Plus500 has met several regulatory delays. Last Wednesday the UK Financial Conduct Authority (FCA) detailed to Playtech that due to “certain concerns raised” it would have push back its assessment of Plus500 to December. The further FCA …

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Playtech Plus500 deal at risk following further FCA delays

The decision by the UK Financial Conduct Authority (FCA) regarding Playtech’s $460 million acquisition of contract broker Plus500 has been pushed back to December. Playtech’s acquisition sees a further delay, having been stalled in September following UK regulatory delays, despite gaining approval from the Cyprus Securities and Exchange Commission. On Wednesday Plus500 governance issued a statement that the terms of …

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Playtech pushes on with Q3 revenue rise

Industry supplier Playtech has posted a 47% increase in revenues for the third quarter with increases in all divisions, apart from poker. The growth has been boosted by the company’s recent acquisitions, the figure would be around half if they were discounted, but it still represents impressive progress for the firm. Regulated revenues accounted for over half of group revenues …

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Playtech continues its strong 2015 momentum with 47% Q3 revenue rise

Issuing a Q3 2015 trading update, Playtech Plc announced metric growth in all key verticals (apart from online poker), as the FTSE listed gambling technology provider recorded a 47% rise in group revenues to €170.9 million (Q3 2014: €116.5 million). The gambling technology provider continues its strong 2015 momentum, recording 21% revenue uplift to €75 million for its online casino …

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Playtech reveals Central Bank of Ireland (CBI) opposition to Ava Trade acquisition

Playtech governance has revealed that the Central Bank of Ireland (CBI) has opposed its acquisition of currency trading platform and Ava Trade. The CIB’s opposition comes having been granted approval of its $105 million (£65 million) from the Financial Services Commission in the British Virgin Islands. Playtech governance issued the following short statement regarding the matter “Late on October 2, …

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