Staff Writer
Mountain Crest is a New York-based special purpose acquisition company (SPAC) and after agreeing to pay $381 million, is now the new owner of the Playboy brand and products. Mountain Crest has offered $10 per share for the controlling 23.9 million shares in the famous brand that has lost some of its lustre since it peaked in the 70s and 80s.
Mountain Crest has a plan though, the special acquisition firm acquires brands to access public markets and plans to invest $58 million to enhance and expand the company.
The firm said that Playboy’s partnerships with gaming firms, Scientific Games and Microgaming mean that further acquisitions in the online gambling sphere could be possible, along with focusing on organisations like 888 Holdings, PointsBet, and RummyCircle.com.
Mountain intends to explore other markets including beauty and grooming, sexual wellness, and style and apparel.
With such a large cash injection and ambitious intent behind it, the Playboy brand’s future will be one to watch.
With such a large cash injection and ambitious intent behind it, the Playboy brand’s future will be one to watch.
Online payments solutions provider Paysafe and iGaming supplier Playtech have inked a new cooperative agreement that sees them extend their existing partnership as the payment platform becomes available in the UK and Europe.Both companies...
