Playtech decides against Caliplay SPAC deal
Playtech abandoned plans to allow Caliplay to be acquired by a US-listed special purpose acquisition company (SPAC), a proposal intended to stimulate Caliplay’s growth in the US market.
Citing deteriorating capital market conditions, Playtech confirmed that the deal “is no longer being pursued in the same manner.”
However, it stressed that both Playtech and Caliplay management are working towards the creation of a standalone US gaming business under the Caliente brand, with a particular focus on the US Hispanic demographic.
According to Playtech Director of Investor Relations and Strategic Analysis Chris McGinnis: “Both parties also continue to have discussions with the SPAC and its associates regarding this alternative opportunity. Discussions are at an early stage and further updates will be made if appropriate.”
Playtech went on to give a trading update, reporting that the company is currently trading ahead of expectations.
One particularly positive area has been B2B, which has been fuelled by strong growth in the Americas with structured agreements, including with Caliente. Wider B2B operations showed similar positive signs.
Italian gaming company Snaitech, which Playtech purchased in 2018, has reported strong results from its online business, retail recovery and favourable sports results.
The board is said to be satisfied with this growth across the business, and is confident of prospects for FY 2022 and beyond.
Playtech will publish its first-half results on 22 September 2022, followed by a Snaitech-focused investor event, with a Playtech B2B business investor event planned for later this year.
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