Teresa Teague, Director at Gopher, commented: Gopher is delighted to have completed the acquisition of Finalto. We have been impressed by the strength of Finalto’s business and management team and look forward to working closely with the team to accelerate Finalto’s ambition to become the global partner of choice in the financial trading sector. Meanwhile,…
Read more
The group also detailed that the completion of the deal is a step to simplify its strategy. Playtech shared that it aims to focus on technology-led offering as a pure-play business in the B2B and B2C gambling markets. Meanwhile, Playtech is currently in talks over its acquisition of Gopher’s parent company TTB Partners, group of…
Read more
Trevor Croker, Aristocrat’s CEO and Managing Director, commented: 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. Aristocrat’s offer for Playtech has been recommended by the Playtech Board, and is the only offer on the table for…
Read more
The official statement said: Today's announcement has no bearing on Gopher's agreement to acquire Playtech's financial trading division, Finalto. Gopher remains fully committed to the acquisition. The process is ongoing and is expected to complete in H1 2022. Yesterday Playtech revealed that JKO Play Limited is also shown interest and has inquired about due diligence…
Read more
The statement said: There is no certainty that Gopher's approach will result in an offer for Playtech, nor as to the terms on which any offer may be made. Earlier in October, Aristocrat Leisure agreed to acquire Playtech in a £2.7 billion deal. The gaming giant’s shares jumped within 24 hours of the announcement. The…
Read more
According to the official announcement, net cash available to Playtech at completing the sale will increase by approximately $242 million. This amount is in addition to the €40 million excess cash which was extracted during the first half of 2021. Teresa Teague, Partner at TT Bond Partners, commented: Gopher has been impressed by the strength…
Read more
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.…
Read more
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…
Read more
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…
Read more
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…
Read more