TIDMPTEC
RNS Number : 0979S
Playtech PLC
01 November 2023
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
1 November 2023
Playtech plc
("Playtech", the "Company", the "Group" or the "Playtech
Group")
Update re: Caliplay
On 5 October 2023, Tecnologia en Entretenimiento Caliplay,
S.A.P.I. de C.V. ('Caliplay') announced that Caliplay had issued
legal proceedings in Mexico against, amongst others, Playtech and
some of its subsidiaries.
Caliplay has been and remains a very highly valued customer of
the Playtech Group. During the past nine years, both parties have
worked closely together to create a successful and rapidly growing
digital business in Mexico. This has been an extremely productive
relationship for both parties, and resolving the commercial dispute
is a priority for Playtech.
The disagreement initially centred on whether an option held by
Caliplay t o redeem the additional services fee element of the
strategic agreement has lapsed, and this is the subject of ongoing
proceedings in the English Courts, with Playtech seeking a
declaration from the Court on whether the option has expired. The
trial of that issue is scheduled to take place in London in October
2024.
On 5 October 2023, Playtech noted Caliplay's announcement that
it had issued legal proceedings in Mexico against members of the
Playtech Group. Playtech has now accepted service of those
proceedings to enable the Group to respond to them and is now able
to update on the content of the Court filings in Mexico. The
actions taken by Caliplay in the Mexican Court proceedings
contravene the contractual agreements in place since the strategic
agreement was originally established in 2014, in particular the
agreement between the parties that any disputes would be resolved
in England.
One of the primary interim measures that the Mexican Court
granted was that all fees due to the Playtech Group under its
arrangements with Caliplay are to be paid into a Court-mandated
trust account in Mexico rather than paid directly to the Group.
Consequently, the Company understands that the fees due to the
Playtech Group for August (in part) and September have been paid
into this Court-mandated trust account. Other interim measures the
Mexican Court granted include the suspension of many rights and
protections under the agreements.
In order to protect its position and ultimately progress towards
a resolution with Caliplay, Playtech has taken the following steps
:
- In England, PT Services Malta has applied for and obtained
interim anti-suit injunctions from the English Court against
Caliplay. These injunctions compel Caliplay to stop taking any
further steps in the Mexico proceedings, as litigation should not
have been commenced in that jurisdiction.
- In Mexico, PT Services Malta has obtained separate interim
measures from a Mexico court ordering Caliplay to discontinue the
case it commenced in Mexico against the relevant Playtech entities,
so that the dispute can be resolved in the appropriate and agreed
forum in England. Those measures also include orders for Caliplay
to comply with the terms of the Framework Agreement between the
parties (which contains most of the provisions which had been
suspended by the Mexican Court).
Playtech will continue to take such other steps as it considers
necessary to enforce its rights under its agreements with Caliplay
and to lift the interim measures obtained by Caliplay.
Caliplay remains a highly important customer for Playtech, and
the Company is determined to resolve this matter as quickly as
possible. In order to do so, Playtech is committed to maintaining
an open dialogue with Caliplay to discuss a path forward.
The Company will update shareholders further as appropriate and
necessary.
- Ends -
For further information contact:
Playtech plc
Sandeep Gandhi, Head of Investor Relations +44 (0) 20 3805
c/o Headland 4822
Headland (PR adviser to Playtech) +44 (0) 20 3805
Lucy Legh, Jack Gault 4822
---------------------------
About Playtech
Founded in 1999 and premium listed on the Main Market of the
London Stock Exchange, Playtech is a technology leader in the
gambling industry with over 7,300 employees across 19
countries.
Playtech is the gambling industry's leading technology company
delivering business intelligence driven gambling software,
services, content and platform technology across the industry's
most popular product verticals, including, casino, live casino,
sports betting, virtual sports, bingo and poker. It is the pioneer
of omni-channel gambling technology through its integrated platform
technology, Playtech ONE. Playtech ONE delivers data driven
marketing expertise, single wallet functionality, CRM and
responsible gambling solutions across one single platform across
product verticals and across retail and online.
Playtech partners with and invests in the leading brands in
regulated and newly regulated markets to deliver its data driven
gambling technology across the retail and online value chain.
Playtech provides its technology on a B2B basis to the industry's
leading retail and online operators, land-based casino groups and
government sponsored entities such as lotteries. Playtech directly
owns and operates Snaitech, the leading sports betting and gaming
company in online and retail in Italy.
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