In a move that is going to be catching the attention of anyone interested in mobile casino depositing and withdrawing, the Paysafe Group (the company behind Paysafecard) has confirmed that it has received an offer to be taken over by Delta Card.
While it’s still in the early stages, with no Paysafe services likely to disappear overnight, the deal would be huge for the payment provider and could see a big shakeup in the way it does business. We’ve got the lowdown of what the deal would look like and, more importantly, what it would mean for players.
What’s The Offer
We really don’t know much so far about the proposed bid, other than the amount and the broad plans of Delta Card should the bid prove to be successful. The offer is for each shareholder to receive a pretty generous 590 pence for each share they have, with the only real ‘detail’ is that Delta Card would be looking at all the business holdings of the Paysafe Group, and would be disposing of any business it considers to be ‘non-core.’
While it has apparently been approached a couple of times before concerning takeover bids from other companies, by making this offer public, it seems that Paysafe Group is seriously considering the offer, and are seeing how the markets respond to the idea. It seems positively, with Paysafe Group shares going up 8% the day after the announcement was made.
How Will Players Be Affected?
Well, we’re still talking about a process which is going to take a long time, and we won’t necessarily know the ins and out for quite some time. While it’s highly likely that Delta Card will try and keep the services offered by the Paysafe Group as complete as possible, with as few disturbances to players as possible along the way, we think the key thing to note is that ‘disposal of any business it considers to be ‘non-core’’ element of the offer.
We doubt that the Paysafe Card option will disappear from casinos straight away, with a new owner who might have different ambitions for the business, we might see the way it works change, and if they want to get rid of some of the smaller businesses surrounding the core service, there’s no telling which smaller services or elements to the business we might have to say goodbye to.
Acquisition On Acquisition
Players and commentators, who have had their ear to the ground when it comes to mobile casino depositing methods over the last couple of years, might be getting a sense of déjà vu with all this going on. You may remember that it was only three years ago that we started hearing rumours about the potential takeover of another commonly used method by a larger company. That time the method was Ukash, and the buyer was Paysafe Group no less!
The Ukash model became a core part of way Paysafe Card deposits and withdrawals work. So, it’s interesting to note that so soon after that acquisition went through we’re already seeing the purchaser take offers. Of course there’s still so much to be settled and it’s unlikely we’ll know any time soon what’s going to happen, but we’ll keep following this story and keep you posted!