Published
Legal & RegulatoryMergers & Acquisitions

Playtech: Proposed acquisition by Aristocrat in doubt

Playtech this morning announced that its proposed acquisition by Aristocrat Holdings is unlikely.

playtech update

Playtech this morning announced that its proposed acquisition by Aristocrat Holdings is unlikely.

And since this update, Gambling Insider can confirm Playtech shareholders did not vote for the merger, with it only receiving 56% backing.

The group initially said the results of its Court Meeting and General Meeting convened in connection with the recommended cash acquisition will not be known until after the meetings have been held, but based on proxy votes received so far, the minimum threshold (75% of those shares voted) needed to approve will not be achieved.

Playtech noted that if this remains the case on the final vote count, the acquisition will not proceed, and the offer period for the company will end.

“Playtech remains in a strong position and continues to perform very well across its core B2B and B2C businesses,” said Playtech CEO Mor Weizer. “This progress reflects the quality of our technology and products and the hard work and commitment of our talented team. We remain confident in our long-term growth prospects and, in particular, our ability to benefit from the structured agreements (including Caliente) that are already allowing Playtech to access newly opened gaming markets.”

Playtech also announced that FY21 results are anticipated to exceed previous expectations. The company stated that since its last trading update in November 2021, it has continued to see a strong performance across both of its core B2B and B2C businesses.

In the former, the group had strong growth in the Americas thanks to Caliente, and also in Europe. And in the latter, Snaitech saw a “very strong performance driven by continued online strength and recovery in its retail business.”

Subsequently, Adjusted EBITDA for the year ended 31 December 2021 is expected to exceed expectations. 

“Our employees are at the heart of our success and have remained cohesive and collaborative despite the continued uncertainty surrounding the company,” a statement from Playtech read. “The hard work and commitment of our people has contributed significantly to this positive trading performance.”

In regards to other strategic opportunity updates, Playtech expects to complete the sale of Finalto in Q2 2022.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
 
 
Premium Connections
The Global Gaming Awards are the most trusted and prestigious Awards in the gaming industry, recognising and rewarding the strongest performers across the previous 12 months.
25 Sep 2022

Global Gaming Awards Las Vegas 2022: Full Shortlist revealed

Gambling Insider and Gaming America are delighted to share the Shortlist for the 2022 Global Gaming Awards Las Vegas.

Life after M&A

Pariplay CCO Enrico Bradamante speaks to the GI Huddle about...

Global Gaming Awards Asia 2022: Winners revealed

The winners of the inaugural Global Gaming Awards Asia have...

Coming to America

Interblock Global CEO John Connelly speaks to Gambling Insid...

The supplier story so far

Gambling Insider speaks with leading executives from Relax G...

Read Magazine