Playtech has updated its investors on its possible transaction regarding an agreement with Mexican gaming firm Caliente, which would allow its sports betting unit Caliplay to enter the US market.
In an announcement made by Chris McGinnis, Playtech’s Director of Investor Relations & Strategic Analysis, the gambling tech firm notes that the potential Caliente transaction is part of its active exploration of options to “maximize shareholder value across both its B2B and B2C businesses”.
Playtech’s possible transaction regarding an agreement with Caliente would allow Caliplay to infiltrate the US market with the betting unit being acquired by a US-listed special purpose acquisition company (SPAC).
Within its update, the firm has stated that since the transaction was initially contemplated, capital market conditions have “deteriorated significantly”, and therefore the transaction won’t be pursued in the same manner.
However, Playtech adds that it “continues to explore alternative opportunities with Caliplay management to build a standalone US gaming business under the Caliente brand focused on the Hispanic community in the US”.
Both parties also continue to have discussions with the SPAC and its associates regarding the alternative opportunity, but these talks are at an early stage.
Back in July, TTB Partners revealed it would not be taking over Playtech due to “challenging underlying market conditions”.