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Foley Trasimene Acquisition Corp. II and Paysafe Announce Merger

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Foley Trasimene Acquisition Corp. II and Paysafe Announce Merger
Foley Trasimene Acquisition Corp. II and Paysafe Announce MergerReading Time: 2 minutes

 

Foley Trasimene Acquisition Corp. II, a special purpose acquisition company, and Paysafe Group Holdings have entered into a definitive agreement and plan of merger.

Upon closing of the transaction, the newly combined company will operate as Paysafe and plans to list on the New York Stock Exchange (NYSE) under the symbol PSFE. The transaction reflects an implied pro-forma enterprise value for Paysafe of approximately $9 billion.

William P. Foley, II, Founder and Chairman of Foley Trasimene, stated, “Upon the formation and initial listing of Foley Trasimene, our team initiated a diligent and thorough search process to source an appropriate partner, with the goal to announce a partnership prior to year end. Thanks to the hard work of our team, we have reached this milestone with Paysafe as our ideal partner. Philip and the entire management team have positioned Paysafe to be a leading global payments platform. We believe we can further enhance Paysafe’s growth trajectory through accelerated operational transformation and M&A, enabled by our de-levered balance sheet. Paysafe delivers a unique value proposition in large and high-growth markets, such as gaming and e-commerce, enabling the company to generate strong organic revenue growth and margin expansion. With a proven strategy and an experienced management team and our newly formed partnership, we believe Paysafe has significant long-term growth potential.”

Philip McHugh, CEO of Paysafe, stated, “Today’s announcement begins an exciting new chapter in our company’s history and we’re excited about the partnership with Foley Trasimene, Blackstone and CVC. Today, more than ever, businesses and consumers need to connect and seamlessly transact via digital commerce. This is what Paysafe does best through our industry-leading payment processing, digital wallet, and online cash solutions. This transaction will allow us to accelerate our growth opportunities across the business, particularly in fast growth sectors such as iGaming where we are the payments partner of choice.”

Martin Brand, a Senior Managing Director at Blackstone, said, “Paysafe has built a leading global e-commerce payment platform under Philip’s leadership. This investment, the largest ever common stock PIPE raised by a special-purpose acquisition company, de-levers the company and positions Paysafe for organic and inorganic future growth. Bill Foley has an exceptional track record of value creation in financial technology and will drive outstanding shareholder returns.”

Peter Rutland, a Managing Partner at CVC, said, “Under Blackstone’s and CVC’s ownership the management team have transformed Paysafe into a leading global payments provider by investing in its technology, products and customer proposition. We are looking forward to remaining significant shareholders alongside Foley Trasimene for the next stage of Paysafe’s growth.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Foley Trasimene Acquisition Corp. II and Paysafe Announce Merger

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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T1 claims victory at Red Bull Home Ground 2024

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After a thrilling Grand Final, T1 claimed the 2024 off-season champions title at this year’s Red Bull Home Ground. Emerging victorious with a 3-1 victory over Cloud9, they take home the much-coveted trophy for Korea.

In front of more than 2000 fans experiencing the excitement first-hand in Berlin, Germany and the thousands more watching at home, the professional VALORANT Invitational tournament saw a closely fought finale play out on the Arena Berlin stage.

As the event kicked off on Thursday 21 November, the Group Stages saw both T1 and Cloud9 put in dominant performances as they each went 2-0. While Team Heretics started in a strong position with a win over FOKUS, they fell to Cloud9 and, due to medical issues, were unable to continue, sending FUT Esports straight to the Semis. Vying for their own spot in the semi finals, last year’s champions Fnatic were unable to replicate their 2023 success as G2 headed into the lead with a 2-0 victory.

The Playoffs saw Cloud9 continue their dominant streak as their Semifinals match against G2 Esports went 2-0 with strong performances on both Sunset and Pearl. FUT Esports faced off against T1 in a hotly competitive game, with T1 taking the first map and FUT Esports the second. After a neck and neck showdown, T1 finally took Ascent as FUT bowed out the tournament and T1 advanced to the grand final.

The final stage of the competition saw Cloud9, who came in second place at last year’s tournament, go head to head against T1 in a thrilling matchup. Continuing to step it up in the grand final, T1 were off to a strong start as they took Abyss in a closely fought first match. Although Cloud9 soon equalled the score as they took the second map, it was T1 that eventually emerged victorious, winning the next two closely contested games to claim the trophy and Red Bull Home Ground 2024 champion title.

Following an excellent performance throughout the tournament, Red Bull Home Ground champion BuZz of T1 said: “Winning this tournament means a lot for us. Against international teams we show we’re strong, so that’s why I’m happy we win this tournament and maybe we can keep this momentum until the end of 2025!”

The post T1 claims victory at Red Bull Home Ground 2024 appeared first on European Gaming Industry News.

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ELA Games Signs Exciting Partnership with Rootz to Introduce Its Portfolio to New Audiences

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Ela Games signs strategic partnership with Rootz

ELA Games is excited to announce its new strategic partnership with Rootz, an iGaming platform that focuses on exciting tech and automation.

Rootz is an all-encompassing iGaming solution built to help operators manage all aspects of their online casinos and power the brands of the future. Some innovative brands in the Rootz portfolio include Wildz, Chipz Casino and many more.

This strategic partnership will see ELA Games’ catalogue being hosted on many of Rootz’s brands. As a result, more players can experience ELA Games’ unique and innovative games like Cash Crab, Joker Cashpot and more. With many of the studio’s games implementing engaging gamification engines, Rootz’s brands can experience increased player acquisition, retention and engagement.

David Fall, ELA Games’ Business Development Manager and spokesperson, commented on the partnership, “We’re proud to announce this significant strategic partnership and are excited about the positive implications it will have on our growth. ELA Games will increase its market presence by being hosted on Rootz’s various platforms, and Rootz will experience increased player engagement from our innovative games. This partnership will prove to be a mutually beneficial one and a meaningful development for our studio.”

Sam Brown, Rootz’s CEO, added, “At Rootz, our players come first, so we’re always thrilled to augment our lobbies with top-quality casino content, like the titles in ELA Games’ catalogue. We’re sure our players will enjoy them, and we look forward to this mutually beneficial collaboration.”

ELA Games continues to experience expansive yet sustainable growth, as evidenced by this recent significant partnership. The studio continues its commitment to producing games with attractive UI and design that enhances the player experience.

The post ELA Games Signs Exciting Partnership with Rootz to Introduce Its Portfolio to New Audiences appeared first on European Gaming Industry News.

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CryptoWins Celebrates One-Year Milestone with Birthday Month Bonuses and New Slot Launch: Wild Alaska

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This month marks the one-year anniversary of CryptoWins, a cutting-edge cryptocurrency-only casino that has quickly made an impact in the gaming world since its debut.

To celebrate, CryptoWins is rolling out a month of birthday bonuses and gifts for both new and returning players. Earlier this month, players already enjoyed an 80% VIP Match bonus, and the celebration continues with even more rewards, including a 66% match bonus for players who’ve made at least one deposit during the month, as well as a $20 freebie!

To kick off its birthday month, CryptoWins.com has introduced its latest video slot, Wild Alaska, created by Slotland Entertainment. This high-energy 5×3 slot game is packed with adventure and features a max multiplier of 750x, a $20 max bet, and 20 paylines. A standout feature is the Free Spins round, where all winnings are tripled, and Grizzly Wilds become Extended Wilds, giving players even more opportunities for massive payouts.

“This milestone wouldn’t be possible without the support of our incredible players. To show our gratitude, we’ve released a month of exclusive bonuses and a cool new game,” said Michael Hilary, CryptoWins manager. “We’ve built CryptoWins around the values of transparency, fairness, and player freedom. Our provably fair gaming technology ensures every player can verify game results for complete peace of mind, while our no withdrawal limits policy allows players to enjoy our platform to the fullest.”

In keeping with its commitment to providing regular rewards, CryptoWins has continued to deliver ongoing promotions throughout the year, including reload bonuses and cashback offers. The casino also boasts a dedicated VIP loyalty program, designed to reward consistent play with exclusive perks.

 

NOVEMBER BIRTHDAY GIFT BONUSES:

1/ THANKSGIVING $20 FREEBIE
Available Nov 26 – Dec 1

* $20 free
* Max cashout: 3x
* Valid for: SE all games
* Wager: 37x
* BONUS CODE: BIGTHANKS

2/ 66% LOYAL MATCH
Available Nov 26 – Dec 1

* 66% for players who deposited at least once in November
* Redeem: 1x per day
* Valid for: SE all games
* Wager: 35x
* BONUS CODE: LOYAL66

 

The future is bright for this forward-thinking cryptocurrency online casino, and players can look forward to even more developments in the months ahead.

CryptoWins, a cryptocurrency casino operated by Slotland Entertainment offers 500+ games from Slotland Entertainment S.A. and eight other game providers: ELA Games, EvoPlay, Felix Gaming, KA Gaming, Rival Gaming, SmartSoft, Spinthon, and Vibra Gaming.  Fast deposits and withdrawals are done using Bitcoin, Litecoin, Ether, Monero, Tether, Binance Coin, and USD Coin.  Support is available around the clock via live chat and email.

The post CryptoWins Celebrates One-Year Milestone with Birthday Month Bonuses and New Slot Launch: Wild Alaska appeared first on European Gaming Industry News.

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