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Foley Trasimene Acquisition Corp. II and Paysafe Announce Merger

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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.”

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Flexion Reports Revenue Increase of 9% for 2024

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Flexion, the games marketing company, has announced that its revenue grew 9% to year-end December 2024. The growth is attributed to the Company’s success in the alternative app store market.

Since its IPO in 2018, the company has built a well-positioned games marketing business around the alternative stores and grown annual revenue 50-fold to almost US$100 million. Its game portfolio represents several billion US$ in gaming IP for alternative market partners like Samsung, Amazon, Huawei, OneStore and Xiaomi.

“With the Digital Markets Act (DMA) coming into force in Europe and recent legal actions in the US, mobile game developers have felt a new-found freedom to explore their market options. We’ve already moved beyond the era when Google and Apple controlled everything. Developers are looking for alternatives that offer better margins, and additional audiences and revenue. Partnering with Flexion opens up a range of market channels with very little up-front investment,” said Jens Lauritzson, CEO of Flexion.

Flexion currently distributes more than 30 high-profile titles on the alternative stores. Top-tier games in the Flexion portfolio make on average US$ 10 million a year based on Q4 2024 run rate. That’s income in addition to their Google and Apple revenue with a business model that adds little to their costs.

In Q4 2024, Flexion-serviced games were, on average, generating 9.3% through the alternative stores of the revenue they made on Google Play. This is a significant boost for Flexion’s partners without major costs or effort.

“If you scale for the size of the stores, the alternatives massively out-performed Google in Q4 for our games. This is exciting both for Flexion’s business and for the future of the games industry as a whole. We’re seeing the beginning of a sea change in games marketing,” Jens said.

“We’re seeing just the beginnings of a major shift in how top-tier developers address their markets. Using Flexion to access alternative stores is an easy first step into the post- Google and Apple world. Many developers are already looking at their options beyond that and Flexion will be right there with them providing the technology and expertise they need to maximise the potential of their games,” Jens added.

The post Flexion Reports Revenue Increase of 9% for 2024 appeared first on European Gaming Industry News.

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Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024

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The latest AskGamblers Complaint Service report for 2024 has officially been released. The comprehensive report highlights the most important accomplishments and records of the AskGamblers Complaint Service team for the previous year.

In 2024, The AGCS team (formerly known as AGCCS) managed to return $6,890,547.11 to players. Over 7259 players turn to AskGamblers, submitting complaints against 1114 casino brands. Out of all the accepted and processed complaints, the team had a 68% resolution success rate. One of the notable milestones that reached was returning a total of $70 million to the members.

Dijana Radunović, General Manager at AskGamblers, said: “It’s amazing to see the trust players put in us year after year, and we’re able to repay them by helping them recover their funds from operators or solve other related issues. We’ve had another successful year, with a few records broken and amazing milestones achieved and we can’t wait to see what lies in store in the years ahead.”

The post Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024 appeared first on European Gaming Industry News.

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SlotsCalendar Announces its Second Awards Edition at iGC Malaga 2025

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SlotsCalendar, a leading name and tastemaker in iGaming, has announced the second edition of the SlotsCalendar Awards. Winners will be announced during the iGC Malaga event in May 2025.

These awards are rapidly gaining significance in the iGaming world as SlotsCalendar’s steady growth, success, and player-centric mentality represent the community’s interest.

Players have approximately a month to vote between the 10th of April and the 12th of May.

For its 2025 edition, the SlotsCalendar Awards Gala returns to the iGaming Club Conference in Malaga, happening on May 28th. The Awards categories for this year are as follows:

• Game Studio of the Year

• The Slot Everyone’s Talking About

• Star Slot in the Making

• Casino of the Year

• Excellence in Bonus Variety

• Industry Standard in Responsible Gambling

• Live Casino of the Year

• Best Sports Betting Platform

• Best New Casino

• Best Crypto Casino

While the idea of iGaming Awards is not new to the industry, the SlotsCalendar Awards are unique for a simple reason: winners are voted by players from the entire iGaming community.

The uniqueness of these awards makes them particularly important in iGaming. Placing the decision-making strictly in the hands of the player is a fundamental shift in the iGaming community.

SlotsCalendar CEO Viorel Stan said: “It’s truly an honor and a privilege to see how our SlotsCalendar Awards have evolved. Last year’s inaugural edition was a crowning achievement for us. It proved how vast and involved our community is, creating a level of engagement that made us incredibly proud. Being able to return to the iGC and reward some of iGaming’s luminaries in the name of the SlotsCalendar Community is beyond gratifying.”

The post SlotsCalendar Announces its Second Awards Edition at iGC Malaga 2025 appeared first on European Gaming Industry News.

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