Tag: Finalto

Gopher Investments made a $250 million offer to acquire Playtech’s financial business. In early July, the Hong Kong-based 4.67% stakeholder of Playtech, urged the shareholders to adjourn their meeting or reject the offer by the Consortium. With the Consortium’s approval, Playtech made efforts to find out Gopher’s source of funds and understand the company’s structure.…

Gopher responded on Tuesday with disappointment in Playtech’s supplement circular, claiming that it has answered its questions and the urged its shareholders to vote against the sale of Finalto to the Consortium. In its latest response, Playtech stated that it does not agree with how Gopher described the string of events and claims it is…

The Playtech added: Shareholders should ask why Gopher continues to hide and should also be suspicious of Gopher’s credibility, particularly given that disclosure is crucial when buying a highly regulated business. Furthermore, the firm associated with Gopher, TT Bond Partners, is a small boutique brokerage that raises money from Chinese investors. Gopher’s behaviour has not…

In May Playtech and the consortium signed a binding deal for the sale of Finalto for $210 million after a lengthy and complicated approval process. Playtech said in its latest statement: Playtech and the Consortium are bound by the restrictions agreed as part of the SPA, which includes not engaging in negotiations with any third…

If the shareholders turn down the consortium’s offer, the lengthy evaluation and regulatory approval process would have to be repeated, putting Finalto in uncertainty for many months. The consortium also reminded that according to the terms of the Sale and Purchase Agreement, in such a case “Playtech will be required to pay the Consortium a…

The statement said: Gopher is an investment vehicle backed by investors with experience in gaming and financials, and is an affiliate of TT Bond Partners (TTB). TTB, through its Hong Kong regulated entity, TTB Partners Limited, which is advising Gopher on this transaction, is an investment and advisory firm based in Hong Kong, whose founders…