Gopher Investments, the No. 2 shareholder of Playtech PLC, the London-based iGaming software giant, has pulled out of the three-way battle to acquire the supplier, indicating it will buy a portion of the business in a separate deal.
Gopher, which holds a 4.97 percent stake in Playtech, indicated a plan to buy Playtech’s financial trading division, Finalto, for $250 million, in a deal expected to close in Q2 2022.
The development leaves ex-Formula 1 chief Eddie Jordan as the only challenger to the £2.1 billion bid for Playtech from Australian slot supplier Aristocrat Leisure Limited. Jordan had said he and his partner, industry veteran Keith O’Loughlin, are considering making a competing offer for Playtech.
Aristocrat, meanwhile, is pressing ahead with its plan to acquire Playtech.
“Aristocrat believes that the terms of the recommended acquisition and the compelling strategic rationale provides certainty for Playtech shareholders with no contingent value or other complicated structures for shareholders to realize value,” Aristocrat said in a statement to London’s Evening Standard. “Aristocrat also believes that the combined group will provide greater opportunities to Playtech employees.”
