Online Gambling Funds Processor SafeCharge to be Listed

Published Sunday, March 09, 2014 - Online-Casinos.com
Online Gambling Funds Processor SafeCharge to be Listed

With over twelve years of experience in the e-commerce industry, SafeCharge combines financial expertise and technological know-how to deliver a complete set of global payment methods together with a powerful fraud prevention system. Designed and customized to suit the unique processing needs of e-commerce merchants, SafeCharge's payment solution guarantees maximum sales conversion with a fully-integrated risk management platform that accurately recognizes and minimizes potential online risks, while at the same time increasing profits.

Well known in the online gambling industry Teddy Sagi, founder of listed gambling software group Playtech is now going to float another of his successful firms. Sagi is a 90 per cent shareholder of the company, founded in 2006 by chief executive David Avgi, who owns the rest. SafeCharge intends to raise $100m in new equity for acquisitions and for the launch of a digital wallet to make money processing aavialble to online gambling customers, and other services. The free float of about 30 per cent on the AIM will dilute Mr Sagi’s stake to about 63 per cent. After the flotation, the company’s market capitalization would be in the area of £210m-£230m.

SafeCharge recent presented a suite of new innovations in the online funds processing solutions sector at the ICE Total Gaming event in London last February. SafeCharge is further enhancing their partnership with gaming merchants with the recently released Cashier, an innovative personalized deposit and withdrawal management solution, that was exhibited at the event. It also demonstrated the innovations of its powerful fraud prevention risk platform including specific profiles of gaming related fraud patterns. SafeCharge has the ability to process gambling bets at high rates of speed, at 300 transactions per second, and with virtually zero down time. SafeCharge last year processed $5bn in transactions and its revenues were $43.1 million, up 31.4 per cent in 2012, while its adjusted earnings before interest, tax, depreciation and amortization was $11.2 million.

 

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