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Paysafe reports 17.3 percent jump in first-half adjusted core earnings

Published 08/08/2017, 07:22
Updated 08/08/2017, 07:30
© Reuters.  Paysafe reports 17.3 percent jump in first-half adjusted core earnings
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(Reuters) - Payments processing company Paysafe Group (L:PAYS) said adjusted core earnings rose 17.3 percent, as more people used the company's prepaid digital wallets to make payments.

The company, which offers pre-paid cashcards and online wallets that are popular among online gambling customers, said adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 169.2 million pounds ($220.55 million) for the period ended June 30.

Revenue also rose to 538.7 million pounds for the period, compared with 486.7 million pounds last year.

Paysafe has backed a 3 billion pound ($3.9 billion) takeover offer from a consortium of funds managed by Blackstone (N:BX) and CVC Capital Partners (UL:CVC), the latest in a string of deals in the sector.

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