Play’n GO reportedly prepares for potential sale to regulated gaming buyer
Deals & M&A1 min read
In brief
- Play’n GO is reportedly exploring a sale to a major regulated gaming business.
- Sources reportedly put a possible deal in the hundreds of millions of euros.
- Aristocrat, Genting and Light & Wonder were named by sources as potential acquirers.
- Chief executive Johan Törnqvist replied "No comment."
Play’n GO is reportedly exploring a sale to a major regulated gaming business. Sources reportedly said a deal could be worth hundreds of millions of euros. When contacted, co-founder and chief executive Johan Törnqvist replied: "No comment."
According to the report, the supplier approached every large aggregator last week and asked them to stop distributing its titles, blaming offshore leakage. The report adds that this came a month after the company also closed down its Asian operations.
Industry experts said the scale and timing of the aggregator pullback fit the pattern of behaviour ahead of an acquisition by, or merger with, a heavily regulated buyer. Paul Leyland of Regulus Partners said: "You can only really capitalise low-risk revenue if you are looking for heavily regulated buyers."
One industry observer pointed to Aristocrat as a potential suitor. Sources also pointed to Genting and Light & Wonder as potential acquirers. The report notes that Play’n GO is live in six US states. Industry expert Andrew Tottenham said: "It’s very difficult to make an organic leap in the supply business."
Sources close to the supplier said it is planning to broaden its external government affairs work going forward. The company has publicly stated that it wants to become a fully white and locally regulated entity.