Playtech speaks out against Caliplay SPAC deal

Playtech dropped its plan to clear the acquisition of Caliplay by a US-listed Special Purpose Acquisition Company (SPAC), a proposal intended to boost Caliplay’s growth in the US market.

Citing deteriorating capital market conditions, Playtech confirmed that the deal “is no longer being pursued in the same manner.”

However, he pointed out that Playtech and Caliplay management were working to create a standalone American gaming company under the Caliente brand, with a particular focus on Hispanic American demographics.

According to Playtech’s Director of Investor Relations and Strategic Analysis, Chris McGinnis, “Both parties also continue to have discussions with SPAC and its associates regarding this alternative opportunity. Discussions are at an early stage and further updates will be made as needed. »

Playtech then gave a trading update, noting that the company is currently trading ahead of expectations.

A particularly positive area was B2B, which was fueled by strong growth in the Americas with structured deals, notably with Caliente. Broader B2B operations showed similar positive signs.

Italian games company Snaitech, which Playtech bought in 2018, reported strong results from its online business, retail recovery and favorable sports results.

The board would be pleased with this growth across the business and are confident about the outlook for fiscal 2022 and beyond.

Playtech will release its first-half results on September 22, 2022, followed by an investor event focused on Snaitech, with a Playtech B2B commercial investor event scheduled for later this year.

In July 2022, Playtech signed a content partnership with Resorts Digital Gaming, the digital arm of Resorts Casino Hotel in Atlantic City.