Oyster Yachts back from the brink
UK boat builder bought by gaming software businessman.
UK-based luxury yacht builder, Oyster Yachts, has been bought out of administration by a British businessman seven weeks since it halted production after its previous backers, HTP Investments, pulled out.
A notice on the company's website says:
“Oyster is delighted to confirm it is now under new ownership. Richard Hadida, a British entrepreneur and founder of global software business Evolution Gaming Group and a lifelong sailor, has acquired the business with the firm commitment to re-establish Oyster as the premium designer and manufacturer of yachts in the world.”
Administrators KPMG who were appointed in early February to handle the sale of the business said it received “a large number of offers” for the company which, at the recent boot Düsseldorf, announced that it had a record order book for 2018.
Hadida bought the company for an undisclosed sum in a deal which includes the Oyster brand name and trademark, technical designs and drawings, production mouldings, plant and machinery. According to reports from the UK, Hadida plans to continue building boats at the company's two plants in Norfolk and Southampton.
Evolution Gaming Group, based in Sweden, delivers live casino gaming via video links to around 150 gaming operators. The company earned revenues of €178 million in 2017 and employs about 3,000 people, mainly in Latvia and Malta although it also has studios in Canada, Belgium, Georgia, Italy, Romania and Spain.
