Aristocrat Leisure Limited, the Australian developer of casino slot machines and digital games, remains the only suitor in the Playtech acquisition race after JKO Play announced it dropped its interest in the purchase.
JKO Play, the business controlled by Eddie Jordan, a former Formula 1 team owner, and Keith O’Loughlin, a former Scientific Games executive, announced their interest in purchasing Playtech, the international supplier of slot games and live casino content, in November 2021.
At that time, Aristocrat was the favourite to purchase Playtech after having raised over 1 billion dollars to help fund the deal. Playtech had even scheduled a shareholder meeting to vote on the Aristocrat proposal, but the potential bid from JKO Play, who also seemed ready to secure funding for the deal, led to the postponement of that meeting.
The shareholder meeting was rescheduled for 2 February, giving JKO Play time until 26 January to clarify its intentions. On 21 January, JKO Play issued a statement in which it announced that it would not pursue its interest in Playtech and pulled out of the race. JKO Play still holds a 0.51 percent stake in Playtech.