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Aristocrat’s Online Ambitions Unchanged with Playtech Deal Set to Fail

04 february 2022
Author: James Burton
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Recently, a lot of media has been discussing the possible deal that the Aristocrat company has proposed regarding Playtech. Even though the agreement is predicted not to go through, the group is still committed to seeking out opportunities for expansion.

Aristocrat and Playtech deal set to fail

History of the Deal

In October last year, the board of directors from Playtech approved a potentially profitable offer from Aristocrat. The company was ready to acquire the fellow business for 3.7 billion USD and was expecting a response from stakeholders.

Still, the group that was about to be acquired issued a statement recently, which indicated that according to the current voting situation, the deal is expected to fail.

75% of the shareowner votes are required to proceed, and the results show that less people are ready to cast their vote in favour of it. Nonetheless, it is expected that the majority will be supporting the deal.

Before Aristocrat, other companies have offered to acquire Playtech, including JKO Play which eventually dropped out of the race. It is also reported that Playtech executives might sell their business in parts if the deal is cancelled.

Comments from Aristocrat

According to Trevor Croker, who is the representative of Aristocrat, the company is disappointed because the deal is likely not going to become reality. He confirmed that all the proceedings on his company's part have been diligent and timely. However, he said, there have been circumstances that do not directly depend on him or his group.

The executive blames the lack of communication from certain stakeholders, implying that they did not engage with either Playtech or his group, or inform anyone of their decision to vote against the deal. Even though the board strongly recommended shareowners to support the agreement, the unwillingness to participate from some of the holders has severely impacted the outcome.

No matter what, the official says, the company is planning to think strategically when it comes to any type of acquisition in the future. He admits prioritising the long-term plans for stakeholders comes first for the group, and that they will make choices by keeping the interests of their customers in mind.

Croker has also praised the strong sides of his enterprise, such as being flexible, persistent and able to perform complex operations. In his opinion, the products released by the group are some of the leading ones on the market, and the executives are looking forward to meeting with stakeholders regarding upcoming decisions.

Future Focus

Aristocrat's plans include looking for more opportunities to enter the internet gaming industry and become a prominent market participant. In Croker's opinion, the company still plans to concentrate on RMG and express its main strengths through it.

The executive says this way of operating is most beneficial for the group, as it will contribute to creating new experiences and enhancing its reputation as a leading provider. It is also planned to expand the company's portfolio and connect more with the customers.

Croker says he and his colleagues are currently in the process of developing and strengthening their strategy for entering the RMG industry. The firm operates according to all the existing regulations and standards. Right now, they are planning to discuss all the future investments with shareowners.

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