{"id":200228,"date":"2022-02-03T05:57:39","date_gmt":"2022-02-03T13:57:39","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=200228"},"modified":"2022-02-03T09:38:05","modified_gmt":"2022-02-03T17:38:05","slug":"ttb-moves-for-playtech-amid-aristocrat-deal-collapse","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/","title":{"rendered":"TTB Moves for Playtech Amid Aristocrat Deal Collapse"},"content":{"rendered":"

Hong Kong investment and advisory firm TT Bond Partners (TTB) is making a play for British casino software giant Playtech, according to sources in the City, London\u2019s financial district, Sky News reports. <\/span><\/p>\n

\"Playtech\"
Playtech at the International Casino Exhibition (ICE) in 2019. A TBB bid for the online gaming giant is expected imminently. (Image: World Exhibition Stand Awards)<\/figcaption><\/figure>\n

This comes less than 24 hours after<\/span> a <\/span>US$2.84 billion takeover bid by Australia\u2019s Aristocrat Gaming was rejected by Playtech shareholders<\/a><\/span><\/strong>.<\/span><\/b><\/p>\n

\n

TTB is an affiliate of Gopher Investments, which is Playtech\u2019s second-biggest shareholder, with a <\/span>4.97 percent stake. TTB advised on a takeover proposal<\/a> for Playtech by Gopher in November. But Gopher ultimately pulled out of the race to focus on acquiring Playtech\u2019s financial trading arm, Finalto, in a<\/span> US$250 million deal.<\/span><\/p>\n<\/div>\n

UK financial rules prohibit a company and its affiliates from making a new offer within six months of withdrawing a bid. But that can be overturned with the blessing of the target company\u2019s board.<\/span><\/p>\n

TTB has submitted a request to make a fresh bid and the Playtech <\/span>board has consented, according to Sky News sources<\/span>. The Hong Kong firm is said to be \u201cserious,\u201d and an offer is expected in the coming days. <\/span><\/p>\n

\u2018Concert Party\u2019 Moves In<\/span><\/b><\/h2>\n

Yesterday, as it became clear his bid was destined to collapse, Aristocrat chief executive and managing director Trevor Croker blamed its failure on <\/span>\u201cthe emergence of a certain group of shareholders who built a blocking stake while refusing to engage with either ourselves or Playtech.\u201d<\/span><\/p>\n

\n

The bloc of Asia-based investors began buying up Playtech shares at a premium after Aristocrat submitted its formal offer. That’s until they collectively owned around 27 percent of the company, according to The Independent. <\/i><\/span>Aristocrat needed the backing of at least 75 percent of Playtech shareholders to push the deal through but only received around 55 percent. <\/span><\/p>\n<\/div>\n

Croker concluded that the new investors had \u201cmaterially impacted the prospects for the success of our offer, which had been recommended by the board of Playtech.\u201d \u00a0<\/span><\/p>\n

He said events since the announcement of the offer had been \u201chighly unusual and largely beyond Aristocrat\u2019s control.<\/span>\u201d<\/p>\n

Jordan Spooked<\/span><\/b><\/h2>\n

It\u2019s unclear whether these investors are connected in any way to the anticipated TTB bid. But their presence was a factor in <\/span>Formula One team boss Eddie Jordan’s decision to walk away from the race for Playtech. <\/span><\/p>\n

Jordan had been expected to make a bid via his investment vehicle <\/span>JKO Play. But according to The Financial Times,<\/i> the Irishman was concerned that any offer would be blocked by the new shareholders.<\/span><\/strong><\/p>\n

In the wake of the collapsed Aristocrat deal, Playtech said Wednesday it would now explore splitting the business and would listen to separate offers for its <\/span>consumer and B2B operations.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong investment and advisory firm TT Bond Partners (TTB) is making a play for British casino software giant Playtech, according to sources in the City, London\u2019s financial district, Sky News reports. This comes less than 24 hours after a US$2.84 billion takeover bid by Australia\u2019s Aristocrat Gaming was rejected by Playtech shareholders. TTB is […]<\/p>\n","protected":false},"author":36,"featured_media":200229,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,19],"tags":[],"acf":[],"yoast_head":"\nTTB Moves for Playtech Amid Aristocrat Deal Collapse<\/title>\n<meta name=\"description\" content=\"TT Bond Partners (TTB) is expected to submit a bid for Playtech after a group of Asian investors block Aristocrat Gaming deal.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TTB Moves for Playtech Amid Aristocrat Deal Collapse\" \/>\n<meta property=\"og:description\" content=\"TT Bond Partners (TTB) is expected to submit a bid for Playtech after a group of Asian investors block Aristocrat Gaming deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-03T13:57:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-03T17:38:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/playtech.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"787\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/\",\"url\":\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/\",\"name\":\"TTB Moves for Playtech Amid Aristocrat Deal Collapse\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/playtech.jpg\",\"datePublished\":\"2022-02-03T13:57:39+00:00\",\"dateModified\":\"2022-02-03T17:38:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"TT Bond Partners (TTB) is expected to submit a bid for Playtech after a group of Asian investors block Aristocrat Gaming deal.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ttb-moves-for-playtech-amid-aristocrat-deal-collapse\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/playtech.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/playtech.jpg\",\"width\":1200,\"height\":787,\"caption\":\"Playtech at the International Casino Exhibition (ICE) in 2019. 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