Tag Archives: new york

Jason Ader: Mattingley must awaken Playtech’s US future 

Brian Mattingley’s appointment as the new company chairman of Playtech Plc has been welcomed by company investor Jason Ader and his asset management company SpringOwl. Though the appointment was branded as conservative in some quarters with Mattingley due to finish his 15-year CEO and Chairmanship tenure at 888 Holdings, Ader believes that Mattingley will play a critical role in Playtech’s …

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Genius Sports files IPO statement with SEC

Genius Sports Group has filed a ‘registration statement’ informing the US Securities and Exchange Commission (SEC) of its intention to merge with special purpose acquisition company (SPAC) ‘dMY Technology Group II’ (dMY II). The SEC filing has been registered by the newly created holding company of ‘Galileo NewCo Ltd’ (NewCo) and confirms the merger approval by both Genius and dMY …

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Winning Post: NY developments, counting problem gamblers and video gaming

Will sports betting come to the rescue for Ney York’s COVID-hit finances? Regulus Partners believes that Governor Andrew Cuomo has a tricky balancing act if he wants to boost coffers with deregulation. And why are regulators changing how they count problem gambling behaviour? US: sports betting regulation – Cuomo takes a bite? There has been a long history of gambling …

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Standard General notifies Sportech shareholders of rejected £54m bid  

New York hedge fund Standard General LLP has revealed that it has had a series of cash offers rejected by LSE-listed wagering and racing systems provider Sportech Plc.  The hedge fund said that its ‘latest cash offer’ of 28.5 pence per share, offering Sportech investors a 58% premium on the firm’s October LSE closing price of 18 pence per share, …

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Activists move on William Hill’s strong US prospects

New York ‘activist hedge fund’ HG Vora Capital has acquired a 5.1% stake in William Hill Plc for a reported £115 million, reigniting speculation over the FTSE250 betting group’s future options. The investment fund, led by former Goldman Sachs VP Parag Vora, holds a successful track record in gambling having previously held a 5% shareholding in Caesars Entertainment, prior to …

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Growth hungry Paysafe appoints Izzy Dawood as Group CFO

Paysafe Group has confirmed the inbound appointment of Ismail ‘Izzy’ Dawood as new Group CFO, who will join the firm’s executive leadership team on 28 September, replacing outgoing incumbent Peter Smith. A 25-year financial services executive, Dawood joins Paysafe from North American credit score software and systems provider Branch International where he formerly served as CFO from 2019 to 2020. …

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Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling

Jason Ader has stated that his company SpringOwl, an ‘independent sponsor and buyout firm’, is tracking all developments of a disrupted global gambling landscape as ‘the pandemic has opened the market’. Speaking to SBC, Ader stated that he is neither undeterred by talk of ‘doom-and-gloom’ nor swayed by easy rhetoric related to ‘business accelerations’. Instead, Ader recognises that global gambling …

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IGT sanctions capped $300m senior debt note sale

IGT Group has sanctioned a ‘tender offer’ to ‘purchase for cash’ an aggregate sum of $300 million, representing 6.25% of its corporate senior secured debt notes, due for repayment in 2022. The New York-listed gambling technology and lottery systems supplier has undertaken its debt sale subject to terms and conditions set forth in its ‘offer to purchase’ summary published on …

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IGT moves to restructure board responsibilities

The board of IGT Plc has moved to strengthen its corporate governance structures, confirming three separate committee appointments that will be sanctioned following the firm’s annual general meeting (AGM). The New York-listed gambling technology group confirmed that Professor Alberto Dessy, a company independent director since 2015, will take a seat on the firm’s Audit Committee. The appointment sees Dessy ,a …

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IGT restructures credit facilities to counter COVID-19 headwinds

New York-listed International Game Technology Plc (IGT) has moved to amend its revolving credit facilities agreement and further terms on its loan facility arrangement, helping the firm navigate ongoing COVID-19 headwinds. The amendments modify the agreements in a number of ways. Firstly, the requirement to maintain a maximum ratio of total net debt to EBITDA and a minimum ratio of EBITDA …

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