According to reports, Aristocrat Leisure Limited, an Australian gambling machine maker, may soon face even more competition in its proposed acquisition of Playtech, a British online casino games and software company.
According to GGRAsia, the Sydney-based firm presented a proposal of over $3.7 billion last month, in which it offered to buy all of the target’s outstanding shares at an individual price of around $9.10. According to the source, a merger like this would provide Aristocrat Leisure Limited a significant position in both online Pragmatic Play, and land-based gaming, as well as assist the company guarantee long-term growth by becoming a big player in the lucrative European iGaming market.
Competition in a hurry:
However, when Hong Kong-based investments were put into question, this possibility was cast into doubt very quickly.
Aristocrat Leisure Limited has now reportedly used an official filing to disclose that an enterprise known as JKO Play Limited is similarly seeking access to certain due diligence information regarding Playtech that could eventually lead to a third bid for the London-listed company possibly worth up to $4.05 billion.
Reportedly read the filing from Aristocrat Leisure Limited.
“JKO Play Limited has indicated to Playtech that it was in discussions with Centerbridge Partners LP regarding the possibility of providing institutional debt and structured capital funding. Playtech’s discussions with JKO Play Limited are at an early stage and there is no certainty that this approach will result in a firm offer for Playtech nor as to the terms on which any firm offer may be made.”