The closing of Aristocrat Leisure Limited’s acquisition of online gaming giant Playtech PLC appeared closer than ever last week, as Playtech hastened the sale to a shareholder of Finalto, its financial trading division.
Playtech confirmed to Inside Asian Gaming that its shareholders had approved the sale of Finalto to Gopher Investments, the owner of 4.97 percent of Playtech shares that recently pulled back a competing bid to acquire the company.
Aristocrat CEO and Managing Director Trevor Croker said in a filing that the sale or Finalto was a key condition of Aristocrat completing the acquisition.
“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,” Croker said, according to IAG.
“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.”
“Aristocrat is well positioned to complete the transaction as planned in the second quarter of calendar year 2022.”
Aristocrat’s bid values Playtech at AU$3.9 billion (US$2.9 billion).
