Last week, Playtech Malta subsidiary announced that it has sought a declaration from the English courts regarding a disagreement with Caliplay, its joint venture with Mexican operator Caliente. The dispute revolves around whether Caliplay still has the option to redeem the additional services fee as stated in the strategic agreement between the two parties. Playtech structured the option so that the amount payable by Caliplay upon exercise would be agreed upon by both parties or determined by an independent investment bank. The option is stated as exercisable for 45 days following the approval of Caliplay’s audited accounts for the year ended December 31, 2021.
In response, Caliplay acknowledges that it has the option to redeem the additional services fee payable to Playtech Malta as per the strategic agreement. However, Caliplay states that the audited accounts approval by its board for the fiscal year 2021 has not yet taken place. Caliplay expresses its commitment to resolving the matter swiftly and being engaged in ongoing discussions with Playtech.
(Note: Include relevant keywords such as “Playtech Malta,” “Caliplay,” “disagreement,” “option to redeem,” “strategic agreement,” “audited accounts,” “mutually agreed resolution process,” etc.)
