The acquisition of Saphalata by Beach Point Capital is a major step for the company
The acquisition of eight bingo halls by Saphalata Holding, a company controlled by Broadway Gaming Group member and Beach Point Capital Management was announced last week. The investment firm provided debt financing for this transaction which included the purchase price as well as related obligations such that they will be able to operate these properties under one roof while paying off existing debts from each location’s own account.
The new addition brings total number of gaming centers owned outright or invested in across Australia.
When 888’s B2C and B2B bingo businesses were sold to Saphalata, the deal valued at $45.2m with 43% cash paid upon completion of sale while remaining 2 million dollars will be delivered unconditionally within one year.
A company called “SAPHALATTA” has just purchased all eight hundred ninety-eight slot machines from us! We are so excited because these games make up most our business – they shore-up everything from betting sizes down reels spins rates!
After a long, hard-fought battle with competitors from around the country for market share in online betting and gaming services Beach Point Capital Head of Private Credit Michael Haynes said: “We’re proud to have helped Broadway Gaming Group take advantage of its strong growth potential.”
The bingo game is becoming more popular with every passing day and the UK-based company, Broadway has taken notice. In H1 2022 they generated $25 million revenue from it alone but that number shoots up over 12 months to around 54% higher at almost 20%.
The CEO of this firm says he’s thrilled about acquisitions because they allow him expand into new markets while also executing on his strategic vision for growth–and we can’t blame them!
In a notably upbeat trading update, 888 company published its financial details for the 12 months to February 2022. Revenue was £690 million ($848m) with adjusted EBITDA totalling 109M! The company went on record noting how retail venues have reopening after pandemic related closures and strong performances across all regulated territories had positively impacted their business performance in recent times – accounting as one such factor that led them towards an increase of more than 10% revenue growth rate over last year’s figure while maintaining margins even during this period when others were experiencing crashes due largely from increased competition among peers.
Playtika, the world’s leading social gaming platform for kids and families released their first quarter financial results today. The company noted a 6% year-over -year revenue increase in digital products to $66 million dollars with an additional
Michael Owen is the latest in a long line of celebrities to be sponsored by Punt Casino, an online gambling brand that focuses primarily on crypto-based games. In a move that was announced to his 3.7 million social media followers, alongside the launch
The newest addition to Dazn’s leadership team, Gemma Burge will be heading up Safer Gambling. She formerly served as Head of Risk Management and Consumer Experience at Paddy Power Bingo before taking on her current role with the company in April