Playtech approves Finalto sale, meeting key requirement for Aristocrat takeover
Comes amid a prominent bidding war for the gaming giant.
Playtech has today announced that its shareholders have approved the sale of the company’s financial trading division, Finalto. This decision sees Playtech meet a key condition in Aristocrat’s offer to purchase the supplier.
Finalto is set to be sold to Gopher Investments in a decision welcomed by Aristocrat. Gopher had previously been involved in the growing bidding war over the ownership of Playtech.
Aristocrat CEO and Managing Director, Trevor Croker, said: “The approval given by Playtech shareholders to dispose of Finalto meets a condition of Aristocrat’s recommended offer and is a further step forward in the completion process.”
“Aristocrat’s offer for Playtech has been recommended by the Playtech Board, and is the only offer on the table for shareholders. We believe that Aristocrat’s offer provides an attractive value and enhanced regulatory and financial certainty for Playtech shareholders, while the combined group will also provide greater opportunities for Playtech employees in a leading global organization.”
Importantly, this move marks a key step in Aristocrat’s purchase of Playtech, which is now looking ever-more likely as discussed in last week’s GI Friday.
“Aristocrat is well-positioned to complete the transaction as planned in the second quarter of calendar year 2022”, Croker concluded.
In a statement confirming the decision to sell Finalto, Playtech said: “Aristocrat and Playtech are continuing to work together to complete the Recommended Acquisition. The process of submitting filings and seeking all required anti-trust, foreign investment, financial regulatory and gaming approvals is on track and is progressing well.
“Aristocrat remains focussed on advancing this and delivering transaction certainty to Playtech shareholders as soon as possible. Aristocrat continues to expect to complete the Recommended Acquisition as planned in the second quarter of calendar year 2022.”
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
