Playtech’s shareholders recently voted against a proposed purchase of the company’s Finalto division. Finalto is the financial trading division of Playtech. The plan was for this to be purchased by Barinboim Group, an investment business group based in the Israeli capital of Tel Aviv. Playtech’s board had initially agreed to the purchase, which would have cost approximately $210m (£152.5m). What wasn’t expected was that the shareholders would vote against it. However, this may not necessarily be a bad thing for Playtech.

What Happens Now?

During a recent vote, only 31.7% of Playtech shareholders voted in favour of the purchase; 68.3% weren’t in favour of it going ahead. The figures weren’t meant to be like this. It was widely believed that the motion would pass and that the purchase would go ahead as planned.

As a result of the vote, Barinboim Group has terminated its share purchase agreement with Playtech. Thanks to this, Playtech is now free to engage with other potential buyers. In fact, there’s already one and that’s Gopher. This company is believed to have put in a bid of $250m for the purchase of Finalto. Apparently, what the board wants is to sell off Finalto for as much money as possible and to simplify the way Playtech is organised and structured.

The company’s shareholders seem to believe that by rejecting the Barinboim Group offer, they can instead go with Gopher. This may be the better course of action for Playtech as a whole to take. After all, Gopher’s offer for Finalto is quite a bit higher.

Gopher is now in talks with Playtech about formally acquiring Finalto. It’s not been confirmed whether the initial offer still stands, or whether the two have come to some other agreement. Whatever happens, it’s very likely indeed that Finalto will end up getting sold to Gopher; there’s every chance that the shareholders will back the purchase. The only thing that could possibly derail an agreement is if another company comes along with a bigger offer, but that doesn’t seem to be likely.

About Playtech

Playtech is one of the world’s leading developers of online casino games. The company, which is based in Douglas, Isle of Man, was founded back in 1999, right when online gambling was just a few years old and was starting to take off. Over the years, it’s grown to become one of the online gambling industry’s biggest names. While it’s a key player in the creation of casino games, it also produces software for poker rooms, bingo games and sports betting sites.

Play Playtech’s Games

If you’re interested in Playtech and want to try out some of its casino games, you can do so right now. There are lots of trusted online casinos that have the provider’s games available to play. There are many Playtech casinos that offer free spins – just sign up and make a deposit, then you’ll be rewarded with some spins to use on top slot games. The provider’s slots are great fun to play and can be quite lucrative if you’ve got some luck on your side.