Canada
Paysafe Completes Business Combination with Foley Trasimene Acquisition Corp. II
Paysafe Group Holdings Limited, a leading specialized payments platform, and Foley Trasimene Acquisition Corp. II, a special purpose acquisition company, today announced that they have completed their previously announced merger. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. The combined company now operates as Paysafe Limited (“Paysafe”) and Paysafe’s common shares and warrants will begin trading on the New York Stock Exchange (NYSE) under the ticker symbols “PSFE” and “PSFE.WS” respectively, starting tomorrow, March 31, 2021.
Paysafe is a leading specialized payments platform, with a two-sided consumer and merchant network, whose core purpose is to enable businesses and consumers around the world to connect and transact seamlessly through payment processing; digital wallets including the Skrill and Neteller brands; and online cash solutions including paysafecard and Paysafecash.
William P. Foley, II, Founder and Chairman of Foley Trasimene will serve as Chairman of Paysafe’s newly formed Board of Directors. Paysafe’s management team headed up by Philip McHugh, CEO, will continue to lead the combined company.1
William P. Foley, II, Founder and Chairman of Foley Trasimene and Chairman of Paysafe, stated, “We are thrilled to complete this business combination with Paysafe and I am personally excited to continue to work with Philip, Blackstone, CVC and the entire board as we continue to execute against our plan for accelerated and profitable growth. Paysafe has the right assets, team and strategy in place to capitalize on a tremendous opportunity for long-term value creation in the payments industry, especially in iGaming which is really beginning to open up across the United States.”
Philip McHugh, CEO of Paysafe, stated, “The closing of this transaction and our listing on the New York Stock Exchange is a huge milestone for Paysafe and getting to this point today is testament to the hard work and dedication of our team around the world. I would also like to thank Bill and the Foley Trasimene team for their backing and belief in our opportunity, and of course Blackstone and CVC for their continued investment and support. We’re excited to be embarking on the next stage of our growth journey as a public company.”
Eli Nagler, a Senior Managing Director at Blackstone, said: “Today is a significant milestone for Paysafe and a testament to the excellent work of their world-class management team over several years. We believe Paysafe has a long runway for further growth and look forward to remaining part of the team and seeing their continued success as a public company.”
Peter Rutland, a Managing Partner at CVC, said, “We are delighted for Paysafe as they begin their next chapter as a public company. By combining Paysafe’s leading solutions in high-growth, specialized markets with Paysafe’s seasoned management team, now supplemented with Bill Foley’s track record of enhancing organic and inorganic growth, this company is incredibly well-positioned to continue a strong growth trajectory and create value for shareholders and all other stakeholders.”
Advisors
Credit Suisse acted as lead financial advisor and capital markets advisor to Paysafe. Morgan Stanley also acted as financial advisor to Paysafe. BofA Securities, J.P. Morgan Securities LLC, Barclays, Wolfe Capital Markets and Advisory, BMO Capital Markets and Evercore also acted as capital markets advisors. Simpson Thacher & Bartlett LLP acted as legal counsel to Paysafe. Proton Partners acted as strategic advisor to Paysafe.
RBC Capital Markets LLC., BofA Securities and J.P. Morgan acted as financial advisors to Foley Trasimene. Weil, Gotshal & Manges LLP acted as legal counsel to Foley Trasimene.
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Acquisitions/Merger
Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey
Great Canadian Entertainment and the SE-MI-AH-MU Development Corporation, the economic development arm of Semiahmoo First Nation (SE-MI-AH-MU) announced that they have entered into a definitive agreement for the purchase by SE-MI-AH-MU from Great Canadian of Elements Casino Surrey.
Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to financial commitments, customary closing conditions as well as customary approvals by the regulatory authorities and the City of Surrey, which owns the underlying real property at Elements Casino Surrey. Under the terms of the definitive agreement, the Company will provide transition services to SE-MI-AH-MU for up to one year post-closing.
“Today’s announcement marks the eighth agreement we have executed with B.C.-based First Nations for the sale of our B.C. operations. We are thrilled that the Semiahmoo First Nation is eager to enter the province’s casino sector with the purchase of Elements Casino Surrey. Our next step will be to continue to work with the SE-MI-AH-MU team to timely close this transaction and then work with SE-MI-AH-MU and the Elements Casino Surrey team members for long term success,” said Matt Anfinson, Chief Executive Officer of Great Canadian.
“This acquisition represents an important step forward in strengthening economic opportunity for Semiahmoo First Nation and reaffirming our presence within our traditional territory as a strong and capable business entity. Through this new venture, we look forward to creating meaningful benefits for our people, supporting employment opportunities in the region, and contributing to the long-term well-being and prosperity of our community,” said Chief Harley Chappell of Semiahmoo First Nation.
McMillan is serving as legal counsel to Great Canadian and Munnings Law is serving as legal counsel to SE-MI-AH-MU.
The post Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey appeared first on Americas iGaming & Sports Betting News.
Canada
Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market
Wazdan, the top developer focused on gaming, has initiated its collaboration with Green Brick Labs (GBL) following the launch of several of its titles with Maverick Games, the well-known operator based in Ontario.
The agreement entails an initial selection of Wazdan’s best-performing titles being launched with Maverick Games through an integration from GBL’s seamless aggregation platform, featuring Mighty Fish
: Blue Marlin, 36 Coins
, Mighty Wild
: Panther Grand Diamond Edition, and Mighty Wild
: Gorilla.
After Wazdan’s recently disclosed alliance with GBL, the quickly developing North American platform provider, the partnership has now made significant progress by launching with Maverick Games, featuring its extensive slot collection and sportsbook services.
Wazdan’s captivating games and interaction-enhancing features, such as Cash to Infinity
, Sticky to Infinity
, and the Hold the Jackpot
bonus game, are poised to enhance Maverick Games’ collection as it aims for greater growth across North America.
Wazdan’s newest collaboration highlights the studio’s goal to further establish itself in regulated iGaming markets globally, offering players cutting-edge slot experiences.
Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.
“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”
James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.
“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”
The post Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Canada
Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach
Wazdan, the leading-gain focused developer, has launched its partnership with Green Brick Labs (GBL) after taking a series of its titles live with Maverick Games, the established Ontario-based operator.
The deal will see an initial pool of Wazdan’s top-performing releases launch with Maverick Games via an integration from GBL’s seamless aggregation platform, including Mighty Fish
: Blue Marlin, 36 Coins
, Mighty Wild
: Panther Grand Diamond Edition and Mighty Wild
: Gorilla.
Following Wazdan’s recently announced partnership with GBL, the rapidly emerging North American platform provider, the collaboration has now taken its first major steps after going live with Maverick Games with its comprehensive slot portfolio and sportsbook offering.
Wazdan’s immersive titles and engagement-boosting mechanics, featuring the likes of Cash to Infinity
, Sticky to Infinity
and the Hold the Jackpot
bonus game, are set to further elevate Maverick Games’ portfolio as it seeks increased expansion throughout North America.
Wazdan’s latest partnership underlines the studio’s ambitions of continuing to gain ground in regulated iGaming territories worldwide, providing players with state-of-the-art slot experiences.
Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.
“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”
James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.
“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”
The post Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach appeared first on Americas iGaming & Sports Betting News.
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