Playtech seeks declaration from English courts over Caliplay disagreement

As part of legal discussions with Caliplay, Playtech has sought a declaration from the English Courts to obtain clarification on a point of contention between both parties.  

english_courts
Listen To Article

Despite the dispute, Playtech says Caliplay remains a valued customer and partner, and is a “highly successful and rapidly growing business.” 

Playtech notes a declaration is being sought to provide clarity for both parties, with the disagreement relating to whether Caliplay has the option to redeem an additional services fee of the parties’ agreement.  

This additional option was structured in a way that would either be agreed upon by both parties, or failing that, determined by an independent investment bank.  

The bank would value the additional fee on Playtech’s current entitlement to receive additional services until December 2034.  

For the six months ended 30 June 2022, Playtech says this service fee was €34.4 million ($37.1m), and the business has, purportedly, performed strongly since then.  

The payment option is exercisable for 45 days following the approval of audited accounts of Caliplay for the year ended 31 December 2021.  

As such, Playtech feels the option has expired – referring to this expiry in its half-year interim report for the six months ended 30 June 2022.  

Though Caliplay has not yet sought to exercise this option, it has made it clear it does not believe the option has expired. This is the basis for the dispute between both parties.  

Last week, Playtech extended its 10-year betting terminal deal with Paddy Power. The deal sees Playtech remain the exclusive provider of Self Betting Terminals for Paddy Power’s machines in Ireland & the UK. 

Premium+ Connections
Premium

Galaxsys

 
Premium

GammaStack

 
Premium

Digitain

 
 
Premium

Sport Generate

 
Premium

Lynon

 
Premium

RISK

 
Premium

Imagine Live

 
Premium

1xBet Partners

 
Premium

PIN-UP Partners

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...