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Paysafe Group Trading Update

Wednesday May 25,2016 : U.K. PAYMENT PROCESSOR ISSUES TRADING UPDATE
 
Paysafe Group plc says performance is ahead of expectations.
 
In a trading update ahead of its annual general meeting on the Isle of Man today (Wednesday) UK payment processor Paysafe plc said that for the four months ended 30 April this year revenues and EBITDA had exceeded management expectations, with key elements including:
 
* Positive momentum from FY 2015 has continued throughout the period to date.  Strong growth in Payment Processing and Digital Wallets is contributing to a particularly favourable performance year to date;
 
* Full year revenue is now expected to be in the range of $950 million - $970 million, ahead of market consensus of $911 million;
 
* The integration of Skrill remains on track to be substantially completed during Q3 2016. The final update on the integration project will be given with the H1 2016 results. Anticipated FY 2016 synergy savings are expected to be in line with those previously announced;
 
* Paysafe continues to invest in its compliance and risk management functions, along with the geographic expansion of the Group's paysafecard business.
 
* The company expects full year adjusted EBITDA to be in the range of $270 million - $276 million, compared to market consensus of $260 million.
 
Paysafe president and chief executive officer Joel Leonoff said in a statement:
 
"I am delighted to report such a strong performance for the Group in the first four months of the year. As a result of the positive momentum across our business, we expect to deliver full year revenue and adjusted EBITDA ahead of market expectations.  We look forward to providing a further update when we announce our half year results."



Gambling News :

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

ACR $1,400,000 High Five Tournament Series - It has five added tournaments a day for five straight days, with the $420k Main Event on the final day. There are Texas hold’em and PLO game types, and tons of structures.a

Microgaming named in The 10 coolest offices of 2017 - Microgaming named in The 10 coolest offices of 2017 Microgaming’s new HQ has been named in ‘The 10 coolest offices of 2017*’ in the UK, featuring alongside some of the biggest consumer brands.

$75K Win on Mobile Slot @ CafeCasino - Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.

Microgaming’s The Phantom of the Opera online slot live today - Available to Microgaming and Quickfire operators, The Phantom of the Opera online slot goes live Wednesday 1 November 2017.

2017 Punta Cana Poker Classic Results - The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.

NHL Odds: Winnipeg Jets vs. Minnesota Wild - Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.

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