August 8, 2017 / 6:51 AM / 10 months ago

UPDATE 1-Paysafe reports 17.3 percent jump in H1 adjusted core earnings

Aug 8 (Reuters) - Payments processing company Paysafe Group said first-half 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 for the period ended June 30.

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

The company also said its Asia Gateway business reported a 20 percent hike in revenue to $76 million, while adjusted profit after tax was $29 million.

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

U.S. group Vantiv is in talks to buy Britain's Worldpay for 7.7 billion pounds and France's Worldline said it will buy the Baltic subsidiary of First Data Corp. Also in July, private equity firm Permira bought a stake in Sweden's Klarna.

$1 = 0.7672 pounds Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair

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