U.K.-based Playtech, a leading supplier of online gambling software, claims that its largest client, Caliplay, refuses to pay for its services.
It is suing the Mexican-based gambling site for €122 million ($132,213,840) in outstanding fees from 2023 and 2024, the Standard reported April 1.
The two companies have been entwined in a legal battle as Caliplay has sought to extricate itself from its contracts.
Playtech CEO Mor Weizer declared “We remain very confident in our ability to execute our strategy and to continue delivering value for our shareholders.”
Playtech has been the object of takeover speculation. It has several features that make it attractive, including low share price to earnings. In addition, Weizer told the Standard that the company has a large amount of cash.
This will make the Playtech/Caliplay trial of interest when it begins in October because if its client doesn’t have to pay that could affect Playtech’s bottom line.
