Playtech Receives Third Offer, Aristocrat Facing Increasing Competition in Takeover

Gaming engineering provider Playtech landed another takeover proffer good manners of JKO Play Ltd., a syndicate led by former Formula One team proprietor Eddie Jordan.

All told, Playtech, which makes package for internet casinos, web-based poker rooms, and online sports wagering, has III bids on the table. Last month, the accompany agreed to a $2.8 billion deal with Aristocrat Technologies, single of the world’s largest makers of gaming machines. Playtech’s plank is recommending to investors they consent that offer.

JKO has indicated to Playtech it was inward talks with New York-based investment business firm Centerbridge Partners L-P and other parties to explore funding for a possible bid, Playtech said later(a) on Wednesday. Discussions with JKO were at an betimes present and thither was no sure thing that they would ensue in an offer, it added,” reports Reuters.

The other proposition to acquire Playtech is from Gopher Investments, the company’s second-largest shareholder. Earlier this year, Gopher attempted to acquire Playtech’s Finalto unit, entering into a bidding fracas with Finalto direction inwards the process.

Jordan Tied to Previous Gaming Takeover Rumors

Jordan, formerly the owner of a Formula One (F1) team comportment his surname, was fastened to some gaming industry mergers and acquisitions venture earlier this year.

In July, reports surfaced that the Irish businessman was mulling a entreat for Scientific Games’ (NASDAQ:SGMS) OpenBet sports wagering weapons platform business. That unit was sold inward September to Endeavor Group Holdings, Inc. (NYSE:EDR), the parent keep company of the Ultimate Fighting Championship (UFC), for $1.2 billion in cash and stock.

Interestingly, Keith O’Lauhglin — a former Scientific Games executive director — is Jordan’s partner at JKO. The fast(a) confirmed it is considering a feed at Playtech.

Playtech also provides package for fixed-odds arcade games, online games, and provides services for grave games. It was founded in Esthonia more than two decades ago, and is headquartered in the Isle of Man. Aristocrat’s wooing of Playtech is aimed at bolstering its offerings inwards the fast-growing iGaming and regulated sports wagering industries.

What’s Next for Aristocrat

Aristocrat says it’s still working with Playtech to convey the business deal across the finishing line, and the regulatory cognitive operation is moving along. The suer antecedently highlighted the benefits of acquiring the UK-based technology company.

The dealing could “deliver medium-term revenue and earnings growth, in particular proposition inwards the fast-growing Frederick North American online existent money gaming (RMG) segment, combine Aristocrat’s industry leading gaming content, long-term client and regulatory relationships with Playtech’s engineering and platform,” said Aristocrat in a statement announcing its offer.

The Reuters article did non nation what JKO’s extend is for Playtech. Nor did it mention the opening of Aristocrat upping its bid for the target.

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