TTB To Make Offer For Playtech Next Week?

Leading gaming software developer, Playtech, has been subjected to a series of acquisition attempts in recent months. However, for various reasons, none of these have concluded in a deal being brokered. Nevertheless, when interest from investment firm and shareholder TTB emerged in February, there was renewed hope that a merger could be struck.

Fast-forward four months, and negotiations are still ongoing. The most recent deadline for a sale was surpassed last Friday, but company shareholders have opted to permit a further a month or so for a formal bid to be launched. Currently, TTB, whose efforts have been flanked by incumbent CEO Mor Weizer, and ex-Playtech chief Tom Hall, have until 15^th July to make their play.

However, The  iGamingpost understands that the consortium will make their offer prior to Playtech’s AGM conference on 30^th June. Given recent noises coming from Playtech’s shareholder group, it seems likely, providing TTB’s valuation hits the mark, that an imminent proposal would be accepted. Nevertheless, its likely that Playtech will remain cautious about the likelihood of a bid, until it’s officially been submitted. As late as last Friday, the London-listed business stated, ‘’there continues to be no certainty than an offer will be made, or the terms on which any offer may be made’’

Playtech previously rejected a $2.1bn advance from Aussie gaming manufacturing outfit Aristocrat. However, the potential of a deal materialising was quashed by a rogue bloc of Asian-based shareholders, the very shareholders who are now involved in a potential takeover. This episode served to deter another interested party, the Eddie Jordan-led JKO consortium.

TTB’s pursuit has felt different from day one however, and it’s always seemed likely that this particular suitor would arrive at a favourable conclusion. An offer may not have surfaced yet, but we expect a major development prior to next Thursday’s annual general meeting.