Gaming technology provider Playtech landed another takeover offer up good manners of JKO Play Ltd. — a consortium led by former Formula One squad owner Eddie Jordan.
All told, Playtech, which makes software package for cyberspace casinos, web-based stove poker rooms, and online sports wagering, has ternary bids on the table. Last month, the companionship agreed to a $2.8 1000000000 deal with Aristocrat Technologies, 1 of the world’s largest makers of gaming machines. Playtech’s get on is recommending to investors they consent that offer.
JKO has indicated to Playtech it was inward talks with New York-based investment stiff Centerbridge Partners L-P and other parties to explore funding for a possible bid, Playtech said late on Wednesday. Discussions with JKO were at an too soon stage and on that point was no certainty that they would final result inwards an offer, it added,” reports Reuters.
The other proposition to gain Playtech is from Gopher Investments — the company’s second-largest shareholder. Earlier this year, Gopher attempted to win Playtech’s Finalto unit, entering into a bidding fracas with Finalto management inward the process.
Jordan Tied to Previous Gaming Takeover Rumors
Jordan, formerly the possessor of a Formula One (F1) team up bearing his surname, was tied to some gaming industry mergers and acquisitions speculation before this year.
In July, reports surfaced that the Irish Gaelic businessman was mulling a play for Scientific Games’ (NASDAQ:SGMS) OpenBet sports wagering platform business. That building block was sold to Endeavor Group Holdings, Inc. (NYSE:EDR), the parent company of the Ultimate Fighting Championship (UFC), for $1.2 1000000000 inwards hard currency and buy in in September.
Interestingly, Keith O’Lauhglin — a former Scientific Games executive — is Jordan’s partner at JKO. The firmly confirmed it is considering a bleed at Playtech.
Playtech also provides software system for fixed-odds arcade games, online games, and provides services for inscribe games. It was founded in Estonia more than two decades ago, and is headquartered in the Isle of Man. Aristocrat’s courting of Playtech is aimed at bolstering its offerings in the fast-growing iGaming and regulated sports wagering industries.
What’s Next for Aristocrat
Aristocrat says it’s stock-still working with Playtech to fetch the trade crossways the finishing contrast and the regulatory operation is moving along. The wooer antecedently highlighted the benefits of getting the UK-based technology company.
The transaction could “deliver medium-term revenue and earnings growth, in specific in the fast-growing Frederick North American online real money gaming (RMG) segment, combine Aristocrat’s manufacture leading gaming content, long-term client and regulatory relationships with Playtech’s technology and platform,” said Aristocrat in a statement announcing its offer.
The Reuters article did non body politic what JKO’s offering is for Playtech nor did it mention the possibleness of Aristocrat upping its beseech for the target.