China's Gopher Investments muscles in on London-listed Playtech takeover
November 08, 2021 at 04:51 am EST
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Gopher Investments, the second-largest shareholder in online gaming and sports betting platform Playtech, has opened talks about a possible takeover.
The move follows Playtech giving the green light to gaming technology firm Aristocrat for some 680p per share – or £2.7bn on an enterprise value basis.
The discussions are still in their early stages but “ongoing”, Playtech said this morning, but the potential bid could be in the ballpark of £3bn, according to Sky News.
Playtech shares jumped 2.26 per cent by mid-morning.
“The UK Takeover Panel will announce the deadline by which Gopher must clarify its intentions in relation to Playtech. Aristocrat will provide this and any further updates as and when necessary,” Playtech said in a statement this morning.
Though the company added that Aristocrat is positioned to complete the transaction by the second quarter of next year.
Playtech said that there can be “no certainty” that Hong Kong-based Gopher’s approach will result in an offer for the company.
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Playtech plc is a platform, content, and service provider in the online gambling industry. The Company is focused on delivering business intelligence-driven gambling software, services, content, and platform technology across product verticals, including casino, live casino, sports betting, virtual sports, bingo, and poker. It owns and operates sports betting and gaming brands in online and retail in Italy. The Company's segments include B2B and B2C. The B2B segment includes Casino, Services, Sport, Bingo, Poker and Other. The B2C segment includes Snaitech, Sun Bingo and Other B2C and HAPPYBET. Its cross-platform capability runs via a unified information management system (IMS), which provides operators with the tools to maximize cross-selling opportunities, player loyalty and yield. IMS unifies Playtech products across all channels, including retail, presenting operators with a single account overview, and allowing them to streamline and optimize marketing spend, maximize cross-sell.