Playtech has divested its financial trading unit, Finalto, to Gopher Investments. This move paves the way for Australian slot machine manufacturer Aristocrat to take ownership of the remaining portion of Playtech.
Playtech investors have given their consent to the sale of Finalto, enabling Aristocrat to proceed with the takeover. The transaction is anticipated to be finalized in the second quarter of 2022.
Aristocrat’s chief executive, Trevor Croker, stated that the approval is a “crucial step” in the acquisition process.
Finalto received numerous acquisition proposals during the summer months. Playtech initially agreed to sell the division to Barinboim Consortium for $210 million in May. However, Playtech shareholders turned down this proposition after Gopher Investments expressed interest in acquiring the division. The Playtech board subsequently approved Gopher’s offer.
In October, Aristocrat proposed to…
The gambling giant, Aristocrat, has successfully acquired Playtech, another gambling firm, for a staggering £7 billion. This means Aristocrat will pay 680 pence for each Playtech share, entirely in cash. Aristocrat is confident this acquisition will significantly expand their online gambling and sports betting operations.
Another company, Gopher, also attempted to purchase Playtech, but they withdrew their bid last week. A company named JKO Play, led by Formula One owner Eddie Jordan, also expressed interest, but their efforts did not progress significantly.
Playtech clarified in November why they selected Aristocrat’s offer. They stated it was the most advantageous deal for their stockholders and staff, and it would provide them with more opportunities within a large global corporation.