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Jason Ader: Aristocrat deal “validates our long-held view of the value of Playtech”

In a $3.7bn deal, Aristocrat acquired software provider Playtech, with its shareholders receiving $9.35 per share.

JasonAderPlaytech

Hot on the heels of a $2.6bn merger with Philippines-based Okada Manila, Jason Ader has turned his gaze to the Australian Aristocrat.

Ader, the CEO of SpringOwl Asset Management and one of Playtech’s largest shareholders, stands to gain a lot from the takeover, with the software firm’s total shares being valued at $2.9bn on a fully diluted basis.

 As a result, it should come as no surprise that he strongly supports Playtech’s acquisition.

“This deal represents a compelling alignment of strategic interests and validates our long-held view of the value of Playtech,” he said in a statement to Gambling Insider.

In February, Ader participated in a shareholder revolt over Playtech’s handling of the succession following Non-Executive Chairman, Alan Jackson’s, departure.

Brian Mattingley was later appointed to the role, and received a warm welcome from Ader, who has now congratulated the executive on his brief time as Chairman of the company.

“This would be a significant victory for Brian Mattingley in his short tenure as Chairman and we congratulate him on his efforts to address our concerns as long-term shareholders and put the company in a position to unlock value and attract investment into Playtech.”

For Aristocrat, this deal should unlock new areas to accelerate the company’s growth strategy, or at least that’s what it hopes.

To help with the acquisition, Aristocrat plans to raise AU$1.3bn (US$959m), with investors able to buy new shares at a price of AU$41.95 per share. 

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