Irish Gambling Magnate Sells Off Shares In Payment Processor

IRISH GAMBLING MAGNATE SELLS OFF SHARES IN PAYMENT PROCESSOR

30th January, 2014 at 04:01:00
Source: http://www.azonlinecasinos.com

Dermot Desmond sells 25% of Optimal Payments for a reported 146 million

Former Betdaq owner and Irish gambling entrepreneur Dermot Desmond (63) has sold off his IIU Nominees company's 25% holding in online payments processor Optimal Payments for 146 million, adding to his reported wealth as Ireland's seventh richest businessman of Euro 1.4 billion.

Press material from Optimal reveals that IIU Nominees Limited successfully sold 40,186,032 Ordinary Shares in the processor and no longer has a beneficial interest in the company.

Optimal Payments' president and CEO, Joel Leonoff said Wednesday:

We thank IIU for their support through the past five years as a significant shareholder of Optimal Payments and wish them every success in their future endeavours. The successful placement of IIU's shares demonstrates the confidence that investors have in the company's prospects. We believe that our commitment to expanding the business and continued targeted investment will help drive sustained future growth in 2014, 2015 and beyond.

Desmond, speaking on behalf of IIU, thanked Leonoff and his team for their contribution to the success of Optimal Payments and for their hard work during the period that IIU was a shareholder.

"We look forward to seeing Optimal continue on its path of growth and profitability and wish them continued success, he said.

Related News Tags:



« News index »



IRISH JUDGE AFFIRMS THAT GAMBLNG DEBTS CANNOT BE ENFORCED

21st March, 2017 at 11:24:11
Judge cites 1956 Gaming and Lotteries Act, which states that "every contract by way of gaming or wagering is void."

MINTBET GOES LIVE WITH FSB TECHNOLOGY

20th March, 2017 at 15:15:56
40-year-old Irish retail business dips its toe into online.

BOYLESPORTS HAS BIG PLANS FOR THE UK RETAIL BETTING MARKET

17th March, 2017 at 14:21:15
Undeterred by the failure of its bid to acquire betting shops dropped as a result of the Ladbrokes Coral merger, Irish bookie remains determined to open more UK shops this year.

LEOVEGAS SPORTS TO LAUNCH IN IRISH MARKET

15th February, 2017 at 19:27:22
Following additional license award.

BOYLESPORTS IN EXPANSION MODE

19th January, 2017 at 15:47:39
Irish bookmaker acquires nine more betting shops.