Caliplay addresses Playtech statement regarding strategic agreement
In reaction to an announcement made by its partner Playtech last week, Caliplay has addressed several key legal points.
Playtech Malta, a subsidiary of Playtech Plc, has filed a lawsuit in the English Court seeking a ruling on a point of disagreement over a redemption option in the strategic partnership between Caliplay and Playtech Malta.
Currently, a mutually agreed-upon resolution process is being used by both parties. Contrary to Playtech’s declaration, Caliplay is not aware that Playtech or its subsidiary, Playtech Malta, have filed any claims against it.
The additional services charge component that Caliplay must pay to Playtech Malta in accordance with the strategic agreement may be redeemed by Caliplay under the option. Following the board of directors of Caliplay’s approval of the audited financial statements for the fiscal year 2021, the option remains to be used for 45 days.
The option, in Caliplay’s opinion, has not expired, as Playtech accurately points out. On December 23, 2022, Caliplay made this point clear to Playtech.
Caliplay is engaged in the current conversations and says it is still keen to find a speedy solution to this issue.
According to Playtech, the casino supplier’s unaudited adjusted EBITDA for 2022 is expected to reach at least €400m ($435.5m).
The success of Playtech’s B2B and Snaitech businesses, according to the company, has been the main factor in this improved financial position.
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