Update on acquisitions of Plus500 & Ava Trade
Playtech plc
('Playtech' or the 'Company')
Update on acquisitions of Plus500 Ltd. and Ava Trade Ltd.
Further to its announcements dated 1 June 2015 and 19 August 2015, the Board announces an update on its acquisitions of Plus500 Ltd. and Ava Trade Ltd.
Due to the high profile nature of Playtech's acquisition of Plus500, receipt of all regulatory approvals is taking longer than the Boards of Playtech and Plus500 had originally anticipated but still within the relevant regulatory and statutory timetables.
Playtech already holds a number of licences from financial regulatory bodies and the Board of Playtech is currently not aware of any issues which would give rise to the required regulatory approvals not being granted in due course, having already obtained the approval of the Cyprus Securities and Exchange Commission.
The statutorily required regulatory assessment of the proposed acquisition should be completed by the end of November 2015 but Playtech remains hopeful for an October 2015 completion.
Playtech still expects the acquisition of Ava Trade Ltd. to complete around the end of September or early October 2015, broadly in line with its original timetable.
- Ends -
For further information contact:
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Playtech plc Mor Weizer, Chief Executive Officer Ron Hoffman, Chief Financial Officer c/o Bell Pottinger
Andrew Smith, Head of Investor Relations
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+44 (0)20 3772 2500
+44 (0)1624 645954 |
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Bell Pottinger David Rydell / Olly Scott / David Bass / James Newman |
+44 (0)20 3772 2500 |
Forward looking statements
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Actual results may, and often do, differ materially from any forward-looking statements.
Any forward-looking statements in this announcement reflect Playtech's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Listing Authority, Playtech undertakes no obligation to publicly revise any forward-looking statements in this announcement following any change in its expectations or to reflect events or circumstances after the date of this announcement.
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.
This information is provided by RNS
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