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Paysafe Completes Business Combination with Foley Trasimene Acquisition Corp. II

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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.”

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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.

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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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AGLC

Casino ATM Scam in Edmonton Reveals Money Laundering and Drug Links

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Law enforcement in Alberta continues to search for the last suspect in a sophisticated fraud operation that targeted ATMs in Edmonton-area casinos and resulted in over CAD 1 million ($720,487) in losses throughout Western Canada.

The Royal Canadian Mounted Police (RCMP) has confirmed that Hisham Ismaeel, 28, remains at large with a province-wide warrant for his arrest. He faces charges of fraud exceeding $5000 and possessing proceeds of crime. Police have already arrested four other men linked to the scheme. Investigators describe the operation as a well-planned effort to exploit financial systems and clean dirty money.

The accused, Elliot Miao, 42, Van Bau Ta, 39, Hassan Jaafar Haydar Ahmad, 37, and Dennis Jones, 42, showed up in the Alberta Court of Justice last week. They face charges from fraud and money laundering to owning criminal property. Miao also has a narcotics trafficking charge after police found cocaine when they searched with warrants.

Investigators claim the group made coordinated withdrawals at several casino ATMs, timing their transactions to avoid getting caught. This action messed up ATM networks in the area and showed flaws in the systems that banks and casinos use to stop misuse.

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The RCMP Federal Policing Northwest Region led an investigation that involved six search warrants in Edmonton. The Edmonton Police Service, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Alberta Gaming, Liquor and Cannabis (AGLC), and several banks supported this effort. Officials said the case shows how teamwork between public agencies and the private sector plays a key role in combating modern financial crime.

AGLC representatives pointed out that casino operators in the province must follow strict reporting and surveillance rules under Canada’s anti-money laundering laws. The specific casinos affected remain unnamed, but the Edmonton region has seven licensed facilities. AGLC said its policies helped spot problems and backed the RCMP’s investigation.

Compliance experts say this fraud shows how criminals change their methods to take advantage of weak spots in reporting limits and transaction checks. They claim that casinos, which deal with lots of cash, are still easy targets unless they keep improving their detection systems and teach their front-line workers to notice coordinated actions like several big withdrawals happening one after another.

For now, the case highlights both the money and crime aspects of casino-related fraud. Besides the million-dollar losses, finding drugs during the raids points to a bigger criminal operation where financial crimes and drug dealing overlap.

The post Casino ATM Scam in Edmonton Reveals Money Laundering and Drug Links appeared first on Gaming and Gambling Industry in the Americas.

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Bragg Gaming

Bragg Confirms Cyber Attack – Hackers Access Internal IT Systems

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Bragg Gaming Group, a leading online gaming technology provider, has confirmed a major cybersecurity incident that compromised its internal IT infrastructure in the early hours of Saturday, August 16, 2025.

The company detected unauthorized intrusion attempts that successfully breached its internal network, triggering an immediate and comprehensive incident response.

Key Takeaways

  • Bragg Gaming Group experienced a cybersecurity breach involving access to internal IT systems.

  • No customer personal data or payment information appears to have been compromised.

  • The company has enacted full containment and investigation protocols.

Details of the Breach

According to a preliminary forensic analysis by Bragg’s internal security team, the attack was a targeted breach aimed at the company’s internal computer environment. While the exact method of intrusion is still under investigation, early indicators suggest a sophisticated exploit of internal network vulnerabilities.

Fortunately, the company’s customer-facing systems, including sensitive user data and financial information, appear to have been unaffected. Bragg’s existing encryption protocols and access control systems successfully prevented the attackers from accessing customer information.

Immediate Response Measures

In response to the breach, Bragg launched a multi-tiered containment strategy, including:

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  • Network Segmentation to isolate affected systems

  • Enhanced Monitoring of data flows across its Remote Games Server (RGS) platform

  • Security Audits of critical infrastructure, including the Bragg Hub and PAM systems

  • Engagement of Independent Cybersecurity Experts to assist in incident analysis and system hardening

Bragg’s Security Operations Center has also elevated its alert level, initiating 24/7 monitoring across all server clusters and network endpoints. In addition, company-wide penetration testing is now underway to proactively identify any residual vulnerabilities.

Business Continuity Maintained

Despite the severity of the breach, Bragg reports that its operations remain unaffected. All gaming services, including iCasino and sportsbook offerings across regulated markets, continue to function without disruption.

“While this incident is deeply concerning, we are confident in the rapid and thorough response initiated by our team,” a company spokesperson stated. “We remain committed to protecting our infrastructure, our partners, and most importantly, our players.”

Looking Ahead

As part of its response, Bragg has also launched mandatory security awareness training for all employees to reinforce best practices and prevent future incidents.

Cybersecurity analysts will continue working with Bragg to determine the full scope of the attack, improve system resilience, and maintain the trust of its users and stakeholders.

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Bragg’s handling of the incident highlights both the evolving nature of cybersecurity threats and the importance of robust, responsive defense systems in the digital gaming sector.

Source: cybersecuritynews.com

The post Bragg Confirms Cyber Attack – Hackers Access Internal IT Systems appeared first on Gaming and Gambling Industry in the Americas.

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AGCO

AGCO Removes Cap on Seller Commission for Charitable Lottery Products

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The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.

Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.

These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.

Important Reminders

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• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.

• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.

• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.

• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.

For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.

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The post AGCO Removes Cap on Seller Commission for Charitable Lottery Products appeared first on Gaming and Gambling Industry in the Americas.

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