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JKO Play withdraws from Playtech race

JKO Play withdraws from Playtech race

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The gaming consortium headed by former F1 team owner Eddie Jordan and gaming industry leader Keith O’Loughlin has released a short statement, formally confirming its intention to pull out of the bidding to acquire Playtech. The statement reads: “: “JKO Play Limited, a 0.51% shareholder in Playtech plc, does not intend to make an offer for Playtech.”

Playtech had extended its deadline for receiving bids in order to allow JKO Play to post a formal offer, but with the company has now dropping out of the race, the way is clear for Aristocrat and Playtech to confirm a deal.

Speaking to the Irish Times, Eddie Jordan said: ““Our team worked tirelessly to assemble a bid that would create value for Playtech’s shareholders and open an exciting new chapter for the business. I am immensely proud of the energy devoted to this project by our advisory team and partners and of the close relationships we have built. We continue to evaluate a number of opportunities in the gaming and associated technology sectors, where we see exciting growth prospects in a number of international markets.”