REG - Aristocrat Leisure Playtech PLC - Statement regarding Playtech plc

PlaytechAnnouncement

18/11/2021 07:05

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RNS Number : 8051S  Aristocrat Leisure Limited  18 November 2021

Aristocrat Leisure Limited

18 November 2021

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (IN WHOLE
OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

FOR IMMEDIATE RELEASE

 

Aristocrat Leisure Limited ("Aristocrat")

 

Statement regarding Playtech plc ("Playtech")

 

Aristocrat Leisure Limited ("Aristocrat") notes the announcement by Playtech
plc ("Playtech") that it has received a preliminary approach from JKO Play
Limited ("JKO") seeking access to certain due diligence information in order
to explore terms on which an offer for Playtech by JKO might be made. Playtech
has provided access to due diligence information in accordance with the UK
Takeover Code. JKO has indicated to Playtech that it was in discussions with
Centerbridge Partners L.P. ("Centerbridge") regarding the possibility of
providing institutional debt and structured capital funding. No financing
commitment has been provided by Centerbridge to JKO.

 

Playtech's discussions with JKO are at an early stage and there is no
certainty that JKO's approach will result in a firm offer for Playtech, nor as
to the terms on which any firm offer may be made.

 

This follows the announcement by Playtech on 7 November 2021 regarding a
preliminary approach from Gopher Investments ("Gopher") seeking access to
certain due diligence information.

 

On 17 October 2021 the Boards of Aristocrat and Playtech announced a unanimous
recommended all cash acquisition of Playtech by Aristocrat for 680 pence for
each Playtech share held, subject to customary conditions. Aristocrat believes
that the terms of the recommended acquisition and the compelling strategic
rationale provides certainty for Playtech shareholders with no contingent
value or other complicated structures for shareholders to realise value.
Aristocrat also believes that the combined group will provide greater
opportunities to Playtech employees.

 

Consistent with Aristocrat's announcements released earlier today, Aristocrat
and Playtech are continuing to work together to implement the recommended
acquisition. The regulatory approval process is on track with the timetable
previously announced and Aristocrat is focussed on progressing this quickly.
Aristocrat holds gaming licences in over 335 gaming jurisdictions, including
many US states and tribal nations. Aristocrat's long term engagement with
regulators across key gaming jurisdictions, together with our strong
financial fundamentals, deep customer relationships and established presence
in global gaming markets, positions us to complete the transaction as planned
in the second quarter of calendar year 2022.

 

Aristocrat has committed certain funds to fund the recommended acquisition
with financing facilities in place and has completed an equity raise of A$1.3
billion with strong take-up from Aristocrat shareholders. In addition, based
on feedback from the credit rating agencies, Aristocrat may therefore be
considered an investment grade credit rating upon close of the recommended
acquisition.

 

On 12 November 2021 Playtech published the scheme document convening the
relevant shareholder meetings to approve the acquisition on 12 January 2022.
Aristocrat urges Playtech shareholders to vote in favour of the recommended
acquisition by Aristocrat at these meetings.

 

Playtech has also published a circular in respect of its proposed disposal of
the Finalto business convening the shareholder meeting to approve the disposal
on 1 December 2021.

 

In accordance with the UK Takeover Code, the UK Takeover Panel will announce
the deadline by which JKO and Gopher must clarify their intentions in relation
to Playtech.  Aristocrat will provide this and any further updates as and
when necessary.

 

Enquiries:

 Aristocrat
 Rohan Gallagher            General Manager, Investor Relations  Tel: (612) 8216 3902

                                                                 Mobile: (61) 421 051 416

                                                                 rohan.gallagher@aristocrat.com
 Natalie Toohey             Chief Corporate Affairs Officer      Mobile: (61) 409 239 459

                                                                 natalie.toohey@aristocrat.com
 Goldman Sachs International (Financial Adviser to Aristocrat)
 Nick Harper                                                     Tel: (44) 20 7774 1000
 Finsbury Glover Hering (PR Adviser to Aristocrat)
 Faeth Birch                                                     Tel: (44) 20 7251 3801
 James Leviton

 

About Aristocrat Leisure Limited

 

Aristocrat Leisure Limited (ASX: ALL) is a leading global gaming content and
technology company and top-tier mobile games publisher, with more than 6,500
employees in over 20 locations around the world.  Aristocrat offers a diverse
range of products and services including electronic gaming machines, casino
management systems and free-to-play mobile games. The company's regulated
gaming products are approved for use in more than 300 licensed jurisdictions
and are available in more than 100 countries. For further information visit
https://power-of-play.com (https://power-of-play.com/) /
(https://power-of-play.com/) .

 

Important Notices

 

Goldman Sachs International, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom is acting exclusively for
Aristocrat and no one else in connection with the matters referred to in this
announcement and will not be responsible to anyone other than Aristocrat for
providing the protections afforded to clients of Goldman Sachs International,
or for providing advice in connection with the matters referred to in this
announcement.

 

Publication on Website

 

A copy of this announcement will also be made available on Aristocrat's offer
website at https://power-of-play.com/ (https://power-of-play.com/) by no later
than 12 noon (London time) on the business day following this announcement.
The content of this website is not incorporated into and does not form part of
this announcement.

 

 

 

 

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