City watchdog proposes clampdown on high risk spread betting instruments December 7, 2018 City watchdog the Financial Conduct Authority (FCA) has today proposed a clampdown on the sale of certain risky financial instruments to retail customers, in a move that could hit the already struggling spreadbetting sector hard. The FCA proposed a ban on the sale, marketing and distribution of binary options to retail customers and a restriction [...]
Online trader Plus500’s shares rise as 2018 results expected to top estimates November 20, 2018 Online trader Plus500 has predicted better-than-expected results at the end of the year, building on an upbeat third quarter trading report last month. In a trading update ahead of its results for the financial year ending 31 December 2018, Plus500’s board said the “strong momentum” reported in its 23 October report had carried through to [...]
Playtech stabilises Asia gaming sales after dramatic summer slowdown November 12, 2018 Online gambling software supplier Playtech stuck to its most recent full-year forecast today, as sales in Asia stabilised. The FTSE 250 group said earnings before interest, tax, depreciation and amortisation (Ebitda) should hit between €320m (£279.2m) and €360m for 2018. The firm progressed in line with expectations in its B2B gaming division, the update for the second half of 2018 said, [...]
Has the clampdown on spreadbetting platforms really protected traders? October 16, 2018 For years, spreadbetting companies enjoyed an easy ride. But this summer saw trading platforms enter a tough new era, as regulators began to weigh down on the industry. Recent weeks have seen some of the UK’s largest trading platforms bowing under the pressure, as the impact of strict new rules becomes clear. Introduced by the European [...]
Plus500 shareholders give Playtech takeover the green light July 16, 2015 Plus500 shareholders have given the go-ahead to Playtech's £460m acquisition of the online spreadbetter. Read more: Watchdog must give its blessing to Plus500 deal Israeli online gambling firm Playtech's offer values Plus500 at 400 pence per share, some way below the 750 pence per share trading price the Aim-listed company enjoyed before freezing thousands of investors [...]
Playtech share price tumbles as it seeks £250m placing to fund Plus500 deal June 18, 2015 Shares in Playtech have tumbled after it revealed a share placing to help fund its £460m purchase of Plus500. The online gambling firm is seeking to raise £250m through the placing, which may also be used to fund further acquisitions. Shares tumbled as much as four per cent in early trading. "Playtech's enviable M&A track [...]
Plus500 has unfrozen 8,457 customer accounts June 9, 2015 Struggling spreadbetter Plus500 today announced it's unfrozen 8,457 customer accounts – saying that while the majority had resumed trading it was still too early to anticipate ongoing behavior of those customers. The Aim-listed firm said 5,205 of its customers whose accounts has been unfrozen had resumed trading – 61 per cent of the total number that are now [...]
Odey Asset Management invites rivals to gatecrash Playtech’s takeover of Plus500 June 4, 2015 Plus500’s top shareholder Odey Asset Management yesterday rebuked a £460m deal for the company from Teddy Sagi’s Playtech and said it would welcome offers from rival bidders. Odey, which was founded by hedge fund investor Crispin Odey, has amassed a 25 per cent stake in the troubled spreadbetting company alongside JP Morgan, which owns [...]
Playtech makes £460m bid for Plus500: Boss Mor Weizer calls deal “immediately revenue enhancing” June 1, 2015 Playtech has announced that it is in the process of buying Plus500, in a deal worth nearly £460m. The online gaming firm said that it would pay 400p a share for the Israel-based and London-listed trading platform. The deal is expected to be concluded by the end of September. Plus500 has previously been [...]
Plus500 share price rises as Playtech buys trading platform for £460m June 1, 2015 Playtech has snapped up trading platform Plus500 for £460m, adding the spreadbetting platform to its online betting and gaming software business. Unperturbed by Plus500's recent headaches, which have seen UK customers' accounts frozen and its market value fall, Playtech chief Mor Weizer said the acquisition will help his company expand its wider offering. Plus500's share [...]