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Playtech Agrees to $3.7 Billion Takeover by Aristocrat

Playtech PLC has announced a $3.7 billion takeover deal by Australian-listed gaming content and technology company Aristocrat Leisure Ltd. through its subsidiary Aristocrat (UK) Holdings Ltd.

With the offer, accepting shareholders of the FTSE 250-listed gambling-technology company will get $9.35 in cash for each share owned. The offer price is a 58% premium to Playtech’s closing price on October 15.

The companies expect the deal to complete in the second quarter of 2022, subject to shareholder approval. The deal is a 100% cash transaction.

In an official release, Trevor Croker, Aristocrat’s Chief Executive, said:

“The business will be ideally positioned to unlock sustainable shareholder value by seizing opportunities in the fast-growing global online segment as they continue to open up, particularly in North America”. And he added: “The combined group would offer a broad portfolio of end-to-end solutions for gaming customers around the world, as well as seamless player experiences, underpinned by a shared focus on responsible gameplay and innovation.”

Mor Weizer, chief of Playtech, commented that the deal “has the potential to enhance our distribution, our capacity to build new and deeper relationships with partners and bolsters our technological capabilities”.

Brian Mattingley, Chairman of Playtech, added:

“In recent years, Playtech has successfully repositioned its world leading gambling technology and operations, expanding in strategically important regulated markets and driving major online B2B revenue growth. Whilst the business has made significant progress, most notably in the Americas, Aristocrat’s proposal provides an attractive opportunity for shareholders to accelerate Playtech’s longer-term value.”

 

The post Playtech Agrees to $3.7 Billion Takeover by Aristocrat appeared first on iGaming.org.

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Author: iGaming Team