Paysafe In The Spotlight
By Casinomeister, Last updated Dec 16, 2016
Rejects allegations of facilitating illegal gambling and dubious business methods by short seller firm
Payment services provider Paysafe Group plc refuted a blog post, published by US short selling firm Spotlight Research Tuesday, which alleged dubious business dealings with regard to Chinese capital control evasion and claims of enabling illegal gambling.
Paysafe's share price plummeted almost 38 percent on the back of the publication, recovering modestly to a 16.74 percent dip at close of trading today following the company's denial of the claims.
A press statement refuted the post saying "all material information in the report is either factually inaccurate or has been previously disclosed" while claiming Spotlight Research had an interest in seeing the Paysafe share price fall.
Spotlight Research's post claimed PaySafe was at risk of being investigated by regulators and accused the company of facilitating illegal gambling through its Asian operations in collaboration with Bet365.
"The Group has a history of significant, transparent disclosure to the market, publishing two prospectuses in 2015 and being subject to substantial additional scrutiny through a full UKLA listing process as part of its move to the Main Market of the London Stock Exchange," PaySafe's statement reads.
The original post on Scribd can be accessed here: https://www.scribd.com/document/334063463/Pay-Safe
Online Casino News Courtesy of Infopowa
The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
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