Caliplay’s entry into US casino and sports betting market halted

Caliplay’s entry into US casino and sports betting market halted

The idea to enable Caliplay to be bought by a US-listed special purpose acquisition company (SPAC), which iGaming company Playtech had planned, has been scrapped. This development is the latest obstacle in the Mexican online casino and sports betting operator’s ambition to expand in the US market.

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Caliente - Caliplay

Playtech no longer pursuing acquisition 

Playtech has stated that the transaction “is no longer being pursued in the same way,” citing weakening capital market circumstances as the reason. 

On the other hand, it was emphasized that both Playtech and Caliplay management are working toward the formation of an independent US gaming company under the Caliente brand, with a special emphasis on the US Hispanic audience. This endeavor is now in the planning stages.

Both parties also continue to hold conversations with the SPAC and its partners considering this alternative potential, according to Chris McGinnis, who serves as the Director of Investor Relations and Strategic Analysis for Playtech. 

The conversations are only getting started, and if necessary, more information will be provided later on. Playtech continued by providing an update on the company’s trading activity, saying that the business is now performing better than anticipated.

The Business is now Performing Better than Usual

One especially excellent area has been B2B, which has been propelled by great development in the Americas with structured agreements, including one with Caliente. 

This is one of the reasons why this sector has been so successful. Similar encouraging trends were seen across a wider range of B2B activities. Playtech acquired the Italian gambling firm Snaitech in 2018, and the company has since claimed positive results from its online operation, retail recovery, and favorable performance in sports betting. According to reports, the board of directors is pleased with the overall performance of the company and is optimistic about the company’s prospects for fiscal year 2022 and beyond.

Following the presentation of Playtech’s first-half results on the 22nd of September 2022, an investor event centered on Snaitech will take place. A Playtech B2B business investor event is scheduled to take place later on in this year. Playtech entered into a content collaboration with Resorts Digital Gaming in July 2022. Resorts Digital Gaming is the digital division of the Resorts Casino Hotel in Atlantic City.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.