Playtech says no longer pursuing SPAC deal for unit of peer Caliente

(Reuters) – UK playing software program supplier Playtech stated on Friday it had stopped pursuing talks with Caliente Interactive for the Mexican sports activities betting agency’s unit Caliplay to listing publicly in the USA through a SPAC deal, citing weak capital market circumstances.

Playtech at present receives a price for the software program and providers it offers to Caliplay and has an choice settlement with father or mother Caliente to purchase 49% of the unit plus a proper to purchase new shares within the new automobile, ought to Caliplay be purchased out.

London-listed Playtech stated it was exploring different options.

“Each events (Playtech and Caliente) additionally proceed to have dialogue with the SPAC (particular goal acquisition firm) and its associates relating to this different alternative,” Playtech stated.

Earlier this month, Hong Kong-based funding and advisory agency TTB Companions deserted a takeover bid for Playtech, blaming difficult market circumstances.

(Reporting by Eva Mathews in Bengaluru; Modifying by Shailesh Kuber)