Tag Archives: JP Morgan

The group-wide revenue and profit of 888Holdings  took a heavy hit across the first six months of the year, as the LSE-listed firm continues to adjust to its acquisition of William Hill. Publishing its interim report this morning, the FTSE250 group revealed that revenue and profit for H1 2022 were both down by 13% and 66%, standing at £332.1m and …

888holdings has completed the sale of its B2B and B2C Bingo business to Saphalata Holdings, a major development in its corporate restructuring.  A member of the Broadway Gaming Group, Saphalata initially agreed to buy 888’s Dragonfish brand for a total cash consideration of $45,25 million (£37.4m) back in December 2021.  The transaction saw $45.25m payable on completion of the deal …

888holdings has confirmed the appointment of three Non-Executive Directors (NEDs), as the firm looks to consolidate its position following the completed takeover of William Hill. The international gambling group announced this morning that Andrea Gisle Joosen, Andria Vidler and Randy Freer would join the Board as Independent NEDs, each having accumulated experience across a range of sectors.  In the aftermath of …

The financial uncertainty and volatility of global markets continue to impact the online gambling sector as 888 Holdings is reportedly struggling securing investors to back its £1bn bond.  During H1 trading, 888 proceeded to issue a £1bn debt bond, needed to finalise its £1.9bn takeover of William Hill’s UK and international units from Caesars International.    The debt bond, made-up of …

Payments platform Paysafe has named multinational investment bank JP Morgan as its core banking provider, kickstarting a collaboration with the latter’s Payments business segment.  As core banking partner, JP Morgan aims to provide a ‘robust and scalable payment gateway’ to Paysafe, which offers services and solutions to businesses in a range of industries, including the betting and gaming sector.  To …

Sisal SPA, the operating company of Italy’s SuperEnalotto lottery and Matchpoint betting shops, has filed for an Initial Public Offering (IPO) to list its business on the Milan Borsa Exchange.  Reuters reports that the CVC Capital owned gambling group has agreed to sell its shares to an unnamed private equity firm.   Although most of the firm’s revenues come from its …

Sportradar has confirmed its Initial Public Offering (IPO), with the aim of raising $504 million through floating of shares in addition to a further $159 million via concurrent private placements. The Swiss-based sports data and technology company will offer 19 million shares at a price range of $25 to $28, with the concurrent private placements taking place with Eldridge, entities …

Paddy Power, the son of the owner of the bookmaker-of-the-same-name David Power, has raised over €500,000 in crowdfunding for his American SportZ Exchange (ASX) sports trading platform. The ASX project was founded in 2019 whilst a beta version was launched in 2020, and will function as a ‘stock market’ for sports, combining fantasy sports and financial markets, enabling fans to …

Paddy Power, the son of David Power, founder of the eponymous Irish bookmaker, has announced plans to launch a ‘sports trading’ platform, American SportZ Exchange (ASX), according to the Irish Independent. ASX will operate from Ireland but target the burgeoning US sports betting market, and will be initially financially supported as a startup via a €500,000 crowdfunding campaign using the …

The governance of FTSE gambling technology group Playtech Plc has moved to expand its corporate advisory, confirming the appointments of Anna Massion and John Krumins as new Independent Non-Executive Directors – with immediate effect. Updating investors, Playtech details that the Massion and Krumins appointments will diversify the FTSE firm’s corporate governance capacities and make-up. A seasoned executive in corporate finance …