Joel Leonoff is looking forward to more acquisitions and growth in Optimal Payments’ future.
Optimal Payments has found itself with a more impressive presence in American markets over the past year, owing to increased usage of brands like Neteller in regulated markets.
That seems to have paid off for the company, as revenues are up significantly more than 40 percent for the business into the first 1 / 2 of 2015 when compared to the period that is same 2014.
Overall, Optimal Payments collected $223 million in profits during initial six months with this year.
That’s up from just over $159 million year that is last a substantial gain for the payment processing company.
Much of that revenue increase was due to improvement in its straight through processing (STP) department, which grew by more than 47 percent year-over-year.
That was largely as a result of purchase of two businesses based into the United States, Meritus and GMA, both of that have been acquired late in 2014.
The organization’s stored value services, chiefly Neteller, also saw improvement, growing a bit more than 20 percent annually to bring in $49.8 million in revenue.
North American Operations Get Focus
The focus that is changing of company is seen in the local figures posted by Optimal in initial half of all the last two years.
In the first 1 / 2 of 2014, North American operations made up slightly below 16 per cent regarding the organization’s revenues; in the same period in 2010, that share had risen to 43 percent, rendering it the segment that is largest associated with company’s business.
‘ We now have proceeded to supply on a number of our key objectives, notably the integration of the united states businesses we acquired year that is last have notably added to the growth of the Group and now completion for the acquisition of Skrill which is set to transform business for a range levels,’ said Optimal Payments CEO Joel Leonoff.
Leonoff is talking concerning the reverse takeover of Skrill, a €1.1 billion ($1.24 billion) purchase that changed the business enterprise by making it a clear leader in the entire world of online gambling payment processing.
In the last year, the company that currently controlled Neteller bought the prepaid voucher company Ukash and Skrill, placing three of the brand names that are largest in the industry under its advertising.
More Acquisitions Easy for Optimal
But that might not be the end of the acquisitions for Optimal. According to Leonoff, the company is already in the procedure of searching for more potential candidates to purchase as time goes by.
‘that we feel are accretive to our shareholders and add a lot of value to our business,’ Leonoff said as we come out of the tail-end of the integration with Skrill, we want to be ready to look at other companies. ‘As we approach $1 billion in revenue, we need to find companies that can move the dial only a little bit and make sure they add a material amount of revenue and profit.’
The desire for continued development comes while Optimal Payments is wanting to be admitted to your London Stock Exchange along with the FTSE 250 index. The company’s stock rose by about 8 percent after announcing its results for the first half of 2015.
Analysts expect Optimal’s sales to increase significantly within the half that is second of because of the acquisition of Skrill. That, combined with relatively lower expenses many thanks to synergies between their various platforms, should see profits rise as well.
Macau Gambling Still Struggling Amidst Crackdowns and Downturns
Macau gambling continues to be struck by the anti-money and economy laundering moves. Can resorts that are new the trend? (Image: AP)
Macau’s gambling industry is continuing to take a massive hit from anti-corruption moves from the Chinese mainland and a weakening economy.
Arrests were made in Macau this week as part of an attempt to halt illegal cash going into the gambling mecca, while at the exact same time a pact has been finalized between your Macau Monetary Authority and the individuals’s Bank of China that could see more influence exerted on Macau by mainland banks.
The moves come at the same time whenever Macau casinos are experiencing an unprecedented downturn.
Anti-corruption moves by Asia’s president, Xi Jinping, in conjunction with a smoking ban in Macau and A chinese economy that’s rapidly in the slide has made the perfect storm for Macau’s casinos.
China’s stockmarket collapse has resulted in a weak Chinese renminbi, which in turn has ramped up the cost for mainland gamblers to relax and play in Macau.
17 Arrested in Money-Laundering Crackdown
This week, 17 individuals had been arrested in Macau after authorities found illegal cash flowing through the town’s pawn shops.
The downturn that is economic the gambling hub is leading the authorities to ramp up efforts to stem the tide of illicit money, even in a city where money-laundering isn’t any stranger.
Macau police seized UnionPay card terminals and documents of illegal money transactions well worth around $1.7 million. Reuters have reported a leap in gambling-related crimes for 2015 so far, up to 34.5 per cent from 22.6 per cent this time final 12 months.
At the time that is same VIP ‘whales’ who have remained away from Macau since the crackdowns is crippling the casinos’ businesses.
‘The reduced number of big VIP gamblers and difficulty that is increasing getting back gaming debt for many creditors has led to the rise in these crime rates,’ stated Macau’s secretary for security, Wong Sio Chak.
Diversification ‘Not Working’
Section of China’s plan for Macau is always to change it into an entertainment that is worldwide, not entirely reliant on gambling for revenue.
Because of this, major casino chains like James myfreepokies.com Packer’s Melco Crown, are busy wanting to diversify into ‘theme park’-style resorts.
Melco’s Studio City features a Hollywood theme, with a hotel based on Gotham City, Asia’s biggest ferris wheel and has now also secured the solutions of Leonardo di Caprio and Martin Scorsese on promotional duties.
However, so far the moves are not working. According to Fitch reviews, non-gambling activities like nightclubs, restaurants and shows accounted on the cheap than 10 % of total Macau revenues a year ago.
There is certainly an amount of pessimism over whether non-gambling ‘entertainment’ does the trick.
Melco’s CEO, Lawrence Ho, told the Macau Daily Times:
‘ Non-gaming doesn’t make any cash and it will never ever make hardly any money.
For all the people that are foolish there that think non-gaming is certainly going to save Macau’s day, it’s not.’
Plenty on Xi’s Plate
The fallout from Asia’s stockmarket collapse this week will really be thought in Macau, and casino bosses there will be vanishing to their shelters to prevent the fallout.
Some of whom are opposed to his anti-corruption crusade unlike some of his predecessors, President Xi Jinping has taken a lot of responsibility for economic decisions in China, and should he be blamed for the turmoil it could spur opposition within his party.
Xi visits the United States in September, and he should have plenty more than a slumping Macau gambling industry on his plate when he arrives while he will almost certainly be given the presidential treatment (despite Donald Trump’s calls for the beleaguered Chinese President to be served a Big Mac instead of a state dinner.
Macau Casinos Consider Abduction Insurance as Kidnappings Increase
Macau’s Secretary for Security Wong Sio-chak says the protection situation in Macau is stable, despite an increase in kidnappings. (Image: ggrasia.com)
As if Macau doesn’t have enough issues lately, a fresh and trend that is frightening the Chinese gambling mecca is most likely maybe not going to help business any, either.
A growth in the kidnapping of high rollers from Macau’s top hotel resorts over the past 12 months has resulted within the province’s casino operators taking out fully insurance that is special to mitigate the possibility of high-profile abductions.
Macau police have said that the number of illegal detentions, which largely involve the forced collection of gambling debts, more than doubled in the 1st 6 months with this year.
Authorities reported that as 170 people were held against their will through that period, and it’s really most likely that additional instances have gone unreported.
Many attribute this to pressure that is economic Macau from mainland Asia. Beijing’s visa limitations on visitors to the gambling hub, because well as a slowing Chinese economy, is hurting the profits of Macau’s moneylenders and junket operators.
14K Triad Involvement
Limitations on the amount of cash visitors can bring from the mainland has meant that those willing to lend them money have, until recently, done a trade that is thriving but the squeeze with this sort of business, much of which is believed to have been infiltrated by 14K Triad organized crime groups, is driving up the enforced collection of gambling debts.
Talking to the South China Post that is evening Coles, who is an assistant director of credit, governmental, and safety risks at Jardine Lloyd Thompson, said that most of the casino teams in Macau have expressed interest in specialist risk insurance coverage.
‘Word of mouth often leads to a trend of an curiosity about the policy, security and the security,’ he said. ‘All the casino that is major resort chains will have looked into this. Certainly there’s a correlation between mainland China, Macau as well as the purchase and interest of this type of policy,’ he added.
Company is Business
According to Cole, policies often cover the implementation of a negotiator to diffuse kidnapping disputes, aswell as protection for the casinos from potential lawsuits brought by victims or their families.
Early in the day this year, Macau’s Secretary for Security Wong Sio-chak played straight down worries of the criminal activity wave within the area, which has also reported an enhance in arson and document forgery.
‘[The figures] nevertheless [do] not provide enough evidence that the current adjustment into the gaming industry has affected Macau’s social public security,’ he insisted, adding that the province’s security situation was still stable.
However, a ‘casino industry source’ close to the Southern China Morning Post who wanted to remain nameless felt otherwise.
‘Business is company for these [debt collectors], and if they can’t get their pound of flesh a good way, they will obtain it another means,’ the supply said.