SBC News Voice of the Sports Betting Industry
Publishing its H1 2017 interim results, digital payments services provider Paysafe Group plc has reported an 11% increase in group revenues to $538 million.
The leading industry payments provider, Paysafe is currently the subject of a £3 billion takeover deal by the combination of private equity firms CVC Capital and Blackstone (bid proposed on August 2017).
Closing its H1 2017, the FTSE250 listed company would declare a period group EBITDA of $169.2 million, driven by a strong group operating margins of 31.4% (H1 2016: 29.6%).
Detailing period highlights, Paysafe governance attributed its strong commercial pipeline which had gained a number of new partnerships in Spain, and Canada plus product launches with Google Android as its core driver for H1 performance gains.
“After exceptional trading in 2016, Paysafe Group has returned to a more sustainable level of low-double-digit revenue growth in the first half of 2017,” detailed Paysafe Group Chairman Dennis Jones.
“This reflects our increasingly diversified set of businesses as the management team continues to build a stable and robust global payments platform.
“To that end, we were pleased to announce the acquisition of US-based MCPS in July, which strengthens our processing business, increases Paysafe Group’s scale in North American acquiring and helps us to continue re-balancing our portfolio away from online gambling.”
Updating stakeholders, Paysafe Group governance detailed that the company would not release a forward looking statement due to the firm current position as being the subject of a takeover bid.
