JKO Play acquires financial aid in Playtech pursuit
Sunday times announced that the head of JKO Eddie Jordan gained cash from Vikrant Bhargava.
Bhargava is supposed to fund the transaction JKO Play has secured in the previous week with an expanded deadline. He is a British entrepreneur and ex marketing director and co-founder of PartyGaming, which is now linked up with bwin Interactive and rebranded as bwin.party.
In the previous week, JKO got an expanded deadline for either affirming its intention of Playtech acquisition or refusing the takeover offer, after Playtech postponed the official meeting of stockholders for Aristocrat’s transaction approval.
After the delay of Aristocrat’s approval to 2 February, JKO Play gained an extended deadline to 26 January, 7 days before the stockholders official meeting.
This mentioned deadline will be canceled if, before that day, another company becomes a potential bidder for PlayTech.
Still, Aristocrat is the major bidder with an offer of £2.7billion or 680 pence for each share.
If Aristocrat succeeds to own Playtech, it will aim to expand its Snaitech division into Europe for enlarging the reach of customers and to increase its outcome.
The transaction of Aristocrat will be closed in Q2 of 2022.