Staff Writer
Playtech recently announced that it has received a preliminary offer from the third company expressing an interest in acquiring the iGaming firm.
JKO Play, helmed by ex-Formula 1 team owners, Eddie Jordan and Keith O’Loughlin, previously of Scientific Games has thrown its hat in the ring for the chance at this lucrative purchase. The company engaged the services of US private investment firm, Centerbridge Partners, to structure institutional debt and capital funding with its potential offer rumoured to be close to the $4 bn mark.
The firm advised that it is currently “seeking access to certain due diligence information in order to explore terms on which an offer for Playtech by JKO might be made.”
Playtech, for its part, advised that “discussions with JKO are at an early stage and there is no certainty that JKO’s approach will result in a firm offer for Playtech, nor as to the terms on which any firm offer may be made.”
This new offer comes soon after a similarly-presented proposal made by Gopher Investments and the much-talked-about $3.6bn Aristocrat Leisure takeover proposal.
Gopher also happens to be a 4.97% Playtech shareholder following its purchase of Finalto financial service division from Playtech.
Aristocrat commented on the new contender saying,
“Playtech’s discussions with JKO are at an early stage and there is no certainty that JKO’s approach will result in a firm offer for Playtech, nor as to the terms on which any firm offer may be made. The regulatory approval process is on track with the timetable previously announced and Aristocrat is focussed on progressing this quickly.”
Trevor Croker, Aristocrat CEO and managing director made his own statement, saying,
“Aristocrat’s recommended offer to acquire Playtech, announced after period end, is another demonstration of our appetite to accelerate the implementation of our strategy through accretive M&A, in particular where it can deliver new capabilities and access to significant growth opportunities. We are focused on achieving necessary approvals, and continue to expect the acquisition to complete in the second quarter of calendar year 2022.”
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