Gopher Investments tables potential Playtech deal
The 4.7% owner has no intention to pursue a further bid.
Gopher Investments has today confirmed that it has tabled its potential purchase of the gaming stalwart Playtech.
Gopher, who currently owns 4.97% of Playtech, noted: “Today’s announcement has no bearing on Gopher’s agreement to acquire Playtech’s financial trading division, Finalto. Gopher remains fully committed to the acquisition. The process is ongoing and is expected to complete in H1 2022.”
The statement, presented by Gopher goes on to highlight that it has been made in accordance with Rule 2.8 of the Takeover Code, meaning, Gopher reserves the right to make an offer for Playtech should circumstances change.
Previously, reports suggested that Gopher proposed a $4bn bid for Playtech, set to rival Aristocrat’s original takeover attempt.
Commenting on this earlier bid, Playtech said: “Discussions with Gopher are at an early stage and ongoing. As such, there can be no certainty that Gopher’s approach will result in an offer for the Company, nor as to the terms on which any offer might be made.
“This announcement has been made without the prior consent of Gopher or Aristocrat,” Playtech added. “A further announcement will be made as and when appropriate.”
Aristocrat and Gopher are not the only bidders, earlier this week Eddie Jordan’s JKO Global threw its hat in the ring.
Jason Ader, one of Playtech’s largest shareholders, had previously predicted this bidding war would arise.
He told Gambling Insider: “There’s nothing preventing IGT, Apollo or Sci Games from looking at this business and seeing, unlike most, it’s very profitable, it’s a very unique collection of assets.
“Whoever buys the Playtech assets has a huge competitive advantage in B2B casino. B2B casino is really the next big thing after sports in the US, and more specifically live table games is what’s going to drive that.”
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