Crypto Assets

JKO Play withdraws from Playtech race

JKO Play withdraws from Playtech race


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.”