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Gamer gambles on Oyster Marine
BY ADMIN • APRIL 27, 2018 • BREAKING NEWS, HOMEMOSAIC, NEWS • COMMENTS (0) • 66
Oyster is one of the world’s largest builders of quality long-distance cruising yachts.
The first few months of 2018 have been astonishingly turbulent for one of the world’s most iconic builders of serious high-end cruising yachts, Oyster Marine. As the Düsseldorf boat show closed at the end of January the British company, which had taken a 75ft model to the exhibition, announced a record order book of some £80 million. Yet barely a week later the 40-year-old firm’s Dutch backers pulled the plug on funding.
Fortuitously there was plenty of interest in the business, allowing the administrators to sell the assets minus, we understand, the liabilities relating to an Oyster 825 that lost its keel a few years ago. The second half of February and first half of March will undoubtedly have seen many recently signed up owners whose boats were not yet scheduled to start work, reconsider their positions. However, it appears the brand is now in good hands, with an owner who is keen to emphasise that he is in it for the long-term.
First launched in 2017, the Oyster 675 is one of the latest designs in Oyster’s sixth generation models.
Richard Hadida, an entrepreneur who has made his fortune in online gaming, is a long-standing Oyster fan who has sailed extensively on Formula 1 guru Eddie Jordan’s Oyster 885 Lush. A statement by the company 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.”
The first example of the company’s largest model, the Oyster 118, is close to completion in Southampton, UK.
Hadida has bought all the elements of the business, including the professional services division, which provides brokerage, yacht charter and crew placement, as well as a comprehensive support and spares services for all Oyster owners. His acquisition of the brand comes after he reputedly intervened to safeguard many of the key Oyster events that take place each year, including Mediterranean, UK and Caribbean regattas, plus a well supported round the world rally.