Update on the acquisition of Ava Trade Ltd.

RNS Number : 6645G

Playtech PLC

23 November 2015

 

Playtech plc

("Playtech" or the "Company")

Update on the acquisition of Ava Trade Ltd.

Further to the Company's announcement earlier today, the Board announces that the shareholders of Ava Trade Ltd. ("Ava Trade") have terminated the share purchase agreement relating to the acquisition of Ava Trade.

Playtech will not incur any financial penalties other than forfeiting the previously announced $5m non-refundable deposit already paid by Playtech on the signing of the acquisition.

Playtech nevertheless intends to continue to appeal the CBI's decision to oppose its application to acquire Ava Trade.  

- Ends -

For further information contact:

Playtech plc                                                     [phone]

Mor Weizer, Chief Executive Officer

Ron Hoffman, Chief Financial Officer

c/o Bell Pottinger

Andrew Smith, Head of Investor Relations            [phone]

Bell Pottinger                                                  [phone]

David Rydell / Olly Scott / David Bass /

James Newman

About Playtech

Playtech is a market leader in the gambling and financial trading industries. Founded in 1999 and listed on the Main Market of the London Stock Exchange, Playtech has more than 5,000 employees in 14 countries.

Playtech is the gambling industry's leading software and services supplier with more than 120 licensees globally, including many of the world's leading regulated online, retail and mobile operators, land-based casino groups, government sponsored entities such as lotteries, and new entrants opening operations in newly-regulated markets. Its business intelligence-driven gambling software offering includes casino, live casino, bingo, poker and sports betting.

It is the pioneer of omni-channel gambling which, through Playtech ONE, offers operators and their customers, a seamless, anytime, anywhere experience across any product, any channel (online, mobile, retail) and any device using a single account and single wallet. It provides marketing expertise, sophisticated CRM solutions and other services for operators seeking a full turnkey solution.

Playtech's Financials division, run through subsidiary Markets Limited (formerly called TradeFX), is an established and growing online CFDs and binary options broker and trading platform provider, operating a number of brands including markets.com. Its B2C focused offering is available in more than 100 countries and in more than 25 languages and is licensed and regulated in the EU and South Africa. 

www.playtech.com

 

END

 

 

MSCEXLFLEFFLFBK