Aristocrat Remains Committed to Playtech Acquisition as JKO Play Withdraws Bid

Blue-blood Aristocrat Confirms Dedication to Playtech Purchase as JKO Play Ends Bid.

Gaming leader, Aristocrat Leisure, has verified that its official procedures for the purchase of Playtech are still “progressing as planned” following the departure of rival JKO Play.

With the Eddie Jordan-fronted group no longer in contention, Aristocrat Leisure has restated its proposal to buy Playtech. In an announcement, the corporation repeated its suggested cash acquisition after JKO Play’s withdrawal.

Aristocrat Leisure reminded Playtech stakeholders that it is now the sole bidder following JKO’s exit and emphasized that its offer delivers “complete and equitable value” with “appealing cash assurance.”

“While there has been sufficient time for other prospective bidders to present an alternate proposal, the Acquisition remains the only concrete offer available to Playtech stakeholders and is endorsed by the Playtech board,” the corporation declared.

“Aristocrat also validates that the regulatory authorization process is still on course and it is dedicated to finalizing the acquisition as soon as possible.”

“Aristocrat repeats that the terms of the endorsed acquisition provide Playtech stakeholders with complete and equitable value for their holdings, and with very enticing cash certainty.”

The leadership of both entities revealed the endorsed cash acquisition of Playtech on October 17, 2021, for 680 pence ($9.22) per share. However, JKO Play indicated its interest in a purchase in November, hinting at a possible bidding contest.

The acquisition agreement for Playtech collapsed even with news of Michael Jordan providing substantial financial support to Vikrant Bhargava, a British-Indian entrepreneur. JKO Play, the investment firm owned by Bhargava, ultimately rescinded its offer.

While Aristocrat remains keen on purchasing Playtech, they recognized that a portion of shareholders have not indicated their approval and urged them to cast their votes in favor of the proposition. They particularly highlighted “numerous key investors” who are yet to make a decision.

The shareholder vote is set to occur on February 2nd, 2022.