U.K.-based iGaming software supplier Playtech PLC has postponed its planned shareholder vote on the proposed US$2.9 billion takeover bid by Australian slot supplier Aristocrat Leisure Limited.
The vote, slated for January 12, has been delayed three weeks to February 2, as a rival takeover bid is expected from JKO Play Ltd., a consortium led by former Formula 1 team owner Eddie Jordan and former Scientific Games executive Keith O’Loughlin. The U.K. Takeover Panel gave JKO a January 26 deadline to make its own bid.
Aristocrat’s bid, made in October, offers 680 pence per share, a 58 percent premium over Playtech’s share price at the time of 429 pence per share. In November, JKO revealed that it was attempting to acquire funding from a New York private equity fund to finance its bid.
In a filing, Aristocrat claimed its bid “remains the only firm offer that has been made for Playtech.
“The recommended acquisition provides attractive value in cash and enhanced regulatory and financial certainty for Playtech shareholders,” the company said.
Aristocrat further notes that any other potential bidders have already had a substantial amount of time to make an alternative proposal for Playtech. The decision to further delay the relevant shareholder meetings extends the period of uncertainty for all Playtech stakeholders.
“Aristocrat is pleased to note the recent recommendations to Playtech shareholders from proxy advisers to vote in favor of all the resolutions to implement the recommended acquisition. Aristocrat further confirms that the regulatory approvals process remains well on track, and it is committed to completing the acquisition as quickly as possible.”
Aristocrat recently raised AU$1.3 billion (US$965 million) towards its proposed acquisition of Playtech.
AGS Acquires Lucky Lucky Jackpot Side Bet
On January 6, AGS announced that it has acquired the player favorite Lucky Lucky Jackpot blackjack side bet from Aces Up Gaming. The asset enhances AGS’ content portfolio and provides opportunity for further growth of its industry-leading progressives.
“With more than 1,000 units across the country, Lucky Lucky is an established and high-performing side bet that supercharges the base game of blackjack for a one-of-a-kind player experience,” said John Hemberger, senior vice president of table products at AGS. “Popular in both e-tables and online gaming formats, Lucky Lucky’s appeal extends beyond the traditional brick-and-mortar live table game environment, making it a natural next step to introduce with a progressive.
“We believe Lucky Lucky will further cement our position as the leading provider of blackjack progressive content in the industry.”
Lucky Lucky totals the player’s cards with the dealer’s up card to trigger pay table outcomes. At the start of each hand, players may place the Lucky Lucky wager in addition to the underlying blackjack wager. Each player receives the first two cards, which are added to the dealer’s up card to create a three-card total; odds are paid if the total is 19 or higher, with the top award paid for suited 7-7-7.