Irish gambling magnate sells shares in payment processor

Former Betdaq owner and Irish gambling entrepreneur Dermot Desmond (63) has sold off his IIU Nominees company’s 25 percent holding in online payments processor Optimal Payments for GBP 146 million, adding to his reported wealth as Ireland’s seventh richest businessman of Euro 1.4 billion.

Press material from Optimal reveals that IIU Nominees Limited successfully sold 40,186,032 Ordinary Shares in the processor and no longer has a beneficial interest in the company.

Optimal Payments’ president and CEO, Joel Leonoff said Wednesday:

“We thank IIU for their support through the past five years as a significant shareholder of Optimal Payments and wish them every success in their future endeavours. The successful placement of IIU’s shares demonstrates the confidence that investors have in the company’s prospects. We believe that our commitment to expanding the business and continued targeted investment will help drive sustained future growth in 2014, 2015 and beyond.”

Desmond, speaking on behalf of IIU, thanked Leonoff and his team for their contribution to the success of Optimal Payments and for their hard work during the period that IIU was a shareholder.

“We look forward to seeing Optimal continue on its path of growth and profitability and wish them continued success,” he said.