Playtech’s deal to land Plus500 is dead in the water

Playtech have failed in a bid to land Plus500. Earlier in the year, the company have made a move to try and acquire the relatively new binary options company (binary trading). The move was reported to cost upwards of £459 million, although that deal has now been reported as dead in the water.

Pulled Out Of Merger

After purchasing TradeFx, Playtech failed to follow up on interest in Plus500. After the June announcement, the deal was expected to be concluded almost three months ago, but hit a snag when Playtech encountered problems with the UK Financial Conduct Authority. Playtech could not agree to the terms suggested by the FCA, and so has pulled out of the merger. The online casino software giants have reported that there will be no repercussions due to their pull out, and that they will remain a 9.9% shareholder in Plus500.

Negotiations Could Resume

Both of the companies will remain friendly and amicable towards one another, and many in the industry are citing that this could lead to negotiations resuming, and the deal being resurrected in the future.

Giant Strides

For the moment though, Playtech is going to have be happy with its binary options from TradeFX, and but any notion of extending those options on ice for the time being. In other sectors, Playtech has made giant strides. The casino software company recently announced that its bingo division (Virtue Fusion) has just won the right to provide the software over at Sun Bingo, and Fabulous Bingo. These two popular bingo domains should be hosting the new software before the end of August next year, which is still quite a way off.virtuefusion 

Future Is Brighter

Playtech is evolving and getting into a lot of different areas of gambling business now. The future is certainly bright for this leading casino software provider.

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