Playtech, one of the world’s largest suppliers of slot games and live casino content for online casinos, has announced that it has decided to give TTB Partners another month to come up with a concrete takeover bid.
TTB Partners, an Asian-based investment group, had initially been given until 17 June to propose an offer for the takeover of Playtech. However, the discussions between the two parties had taken longer than expected, so Playtech decided to set a new deadline on July 15.
Playtech expressed its belief that allowing more time for discussions is in the best interest of its shareholders. The extended deadline was eventually approved by the Panel on Takeovers and Mergers, which could, in theory, extend it once again if needed.
Despite the intense ongoing talks, Playtech underlined that there is still no certainty that TTB Partners will eventually submit a takeover offer for the business.
TTB Partners first manifested their interest in acquiring Playtech in February, after the takeover attempt from Aristocrat was rejected by the Playtech shareholders in an overwhelming vote.