Gopher Investments Withdrew from Possible Offer for Playtech

Gopher Investments has announced that it does not intend to make an offer for Playtech, after it confirmed its preliminary approach to the gambling tech firm last month.

Gopher, the second-largest shareholder of Playtech, withdrew from the heated-up takeover battle for Playtech, but will still go ahead with its $250 million bid for Finalto.

"Today's announcement has no bearing on Gopher's agreement to acquire Playtech's financial trading division, Finalto. Gopher remains fully committed to the acquisition,"a media statement declared. "The process is ongoing and is expected to complete in H1 2022," said Gopher.

In a statement to the stock market, Playtech confirmed that on October 21 it received a preliminary approach from Gopher Investments seeking access to due diligence information in order to explore a possible offer.

After Gopher walked away, JKO consortium is now up against Australia's Aristocrat Leisure​ which unveiled a $2.89 billion bid for the gambling technology business.