Optimal<span id="more-7854"></span> Payments Sees Revenues Soar in 2015

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 areas over the previous year, owing to increased usage of brands like Neteller in regulated markets.

That seems to have paid for the business, as profits are up significantly more than 40 percent for the business into the first 1 / 2 of 2015 when set alongside the exact same period in 2014.

Overall, Optimal Payments obtained $223 million in revenues during initial six months with this year.

That is 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 in the United States, Meritus and GMA, both of which were acquired late in 2014.

The business’s stored value services, chiefly Neteller, also saw improvement, growing a bit more than 20 per cent annually to bring in $49.8 million in revenue.

North American Operations Get Focus

The focus that is changing of company can be seen in the local numbers posted by Optimal in the first half of all the last two years.

Into the first 50 % of 2014, united states operations made up just under 16 percent associated with the company’s revenues; in the same period this present year, that share had increased to 43 percent, rendering it the segment that is largest of this company’s business.

‘ We now have continued to deliver on a number of our key objectives, notably the integration of the united states businesses we acquired last 12 months which have notably added to the development of the Group and recently completion for the acquisition of Skrill which will be set to transform the business enterprise for a quantity of amounts,’ said Optimal Payments CEO Joel Leonoff.

Leonoff is speaking in regards to the reverse takeover of Skrill, a €1.1 billion ($1.24 billion) purchase that changed the business by simply making it a clear leader in the world of online gambling payment processing.

Within the last 12 months, the business that already managed Neteller purchased the prepaid voucher business Ukash and Skrill, placing three of the largest brand names in the industry under its advertising.

More Acquisitions Easy for Optimal

But that is probably not the final end of the acquisitions for Optimal. In accordance with Leonoff, the company is already in the process of looking to get more candidates that are potential purchase as time goes by.

‘As we leave the tail-end regarding the integration with Skrill, we would like to prepare yourself to look at other programs that we feel are accretive to our shareholders and add a great deal of value to our company,’ Leonoff said. ‘As we approach $1 billion in revenue, we need to find companies that can move the dial a little bit and make sure they add a material level of revenue and profit.’

The desire for continued growth comes while Optimal Payments is wanting to be admitted towards the London Stock Exchange plus the FTSE 250 index. The company’s stock rose by about 8 percent after announcing its results for the half that is first of.

Analysts expect Optimal’s sales to increase significantly in the 2nd half of 2015 as a result of the acquisition of Skrill. That, combined with relatively lower costs thanks to synergies between their different platforms, should see profits rise aswell.

Macau Gambling Still Struggling Amidst Crackdowns and Downturns

Macau gambling is still struck by the anti-money and economy laundering moves. Can new resorts buck 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 endeavor to halt illegal cash going into the gambling mecca, while at the same time a pact was finalized involving the Macau Monetary Authority and the folks’s Bank of China that could see more impact exerted on Macau by mainland banking institutions.

The moves come at any given time when Macau casinos are experiencing a downturn that is unprecedented.

Anti-corruption moves by China’s president, Xi Jinping, along with a smoking ban in Macau and an economy that is chinese’s rapidly on 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 police found cash that is illegal through the city’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 is no complete stranger.

Macau police seized UnionPay card terminals and documents of unlawful money transactions worth around $1.7 million. Reuters have reported a leap in gambling-related crimes for 2015 thus far, as much as 34.5 % from 22.6 percent this time year that is last.

At the same time, VIP ‘whales’ who have remained away from Macau considering that the crackdowns is crippling the casinos’ businesses.

‘The reduced number of big VIP gamblers and difficulty that is increasing getting straight back gaming debt for some creditors has led to the rise in these criminal activity rates,’ stated Macau’s secretary for security, Wong Sio Chak.

Diversification ‘Not Working’

Part of China’s plan for Macau is change it into a global entertainment destination, not entirely reliant on gambling for revenue.

Because of this, major casino chains like James Packer’s Melco Crown, have been busy attempting to diversify into ‘theme park’-style resorts.

Melco’s Studio City features a Hollywood theme, with a hotel based on Gotham City, Asia’s ferris wheel that is biggest and contains even secured the services of Leonardo di Caprio and Martin Scorsese on promotional duties.

However, so far the moves are not working. According to Fitch Ratings, non-gambling activities like nightclubs, restaurants and programs accounted on the cheap than 10 percent of total Macau revenues a year ago.

There is certainly an amount of pessimism over whether non-gambling ‘entertainment’ can do the trick.

Melco’s CEO, Lawrence Ho, told the Macau Daily Times:

‘ Non-gaming doesn’t make any money and it will never ever make any money.

For all the people that are foolish there that think non-gaming goes to save Macau’s day, it isn’t.’

Plenty on Xi’s Plate

The fallout from Asia’s stockmarket collapse this will surely be felt in Macau, and casino bosses there will be disappearing into their shelters to avoid the fallout week.

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 sufficient issues lately, a fresh and frightening trend in the Chinese gambling mecca might be perhaps not going to help business any, either.

A growth in the kidnapping of high rollers from Macau’s top hotel resorts within the last year has resulted into the province’s casino operators taking right out unique insurance coverage policies to mitigate the risk of high-profile abductions.

Macau police have said that the quantity of illegal detentions, which largely involve the forced collection of gambling debts, a lot more than doubled in the 1st 6 months of this year.

Authorities reported that as 170 people were held against their will through that period, and it’s really most likely that many others instances went unreported.

Many attribute this to pressure that is economic Macau from mainland Asia. Beijing’s visa limitations on visitors to the gambling hub, as well as a slowing Chinese economy, is harming the profits of Macau’s moneylenders and junket operators.

14K Triad Involvement

Limits on the amount of money visitors can bring from the mainland has meant that those prepared to lend them money have, until recently, done a thriving trade, however the squeeze with this type of business, much of which is known to have been infiltrated by 14K Triad organized crime groups, is driving up the enforced collection of gambling debts.

Speaking to the South China Post that is evening Coles, whom can be an assistant director of credit, governmental, and security risks at Jardine Lloyd Thompson, said that all of the casino teams in Macau https://myfreepokies.com/more-chilli-slot-review/ have expressed interest in professional risk insurance coverage.

‘Word of mouth may lead to a trend of an fascination with the insurance policy, safety and the protection,’ he said. ‘All the casino that is major hotel chains will have looked into this. Certainly there’s a correlation between mainland China, Macau while the purchase and interest of this type of policy,’ he added.

Company is Business

According to Cole, policies often cover the implementation of the negotiator to diffuse kidnapping disputes, also as protection for the gambling enterprises from potential lawsuits brought by victims or their families.

Previously this 12 months, Macau’s Secretary for protection Wong Sio-chak played straight down worries of the crime wave within the region, which in addition has reported an increase in arson and document forgery.

‘[The numbers] nevertheless [do] not provide evidence that is enough the current adjustment within the gaming industry has affected Macau’s social public security,’ he insisted, adding that the province’s security situation had been nevertheless stable.

However, a ‘casino industry source’ close to the Southern Asia Morning Post who wished to remain nameless felt otherwise.

‘Business is business for these [debt collectors], and it another way,’ the source said if they can’t get their pound of flesh one way, they’ll get.


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