Tecnologia en Entretenimiento Caliplay, S.A.P.I. de C.V. (‘Caliplay’), the leading Mexican online casino and sports betting company (known in the market as Caliente Interactive), wishes to clarify certain essential information omitted from an announcement last week by its partner, Playtech plc.
Playtech plc’s subsidiary, Playtech Malta, has commenced proceedings in the English Court and is seeking a declaration from the Court on a point of disagreement concerning a redemption option (the ‘Option’) in the strategic agreement between Caliplay and Playtech Malta. This claim was filed without warning and despite both sides being currently engaged in a mutually agreed resolution process. Contrary to Playtech plc’s announcement, Caliplay is not aware that any claim has been issued against it by Playtech plc, as opposed to its subsidiary, Playtech Malta.
The Option allows Caliplay to redeem the additional services fee element payable to Playtech Malta pursuant to the strategic agreement. The Option remains exercisable for a period of 45 days following the approval (which is yet to take place) of Caliplay’s audited accounts for the fiscal year 2021 by Caliplay’s board of directors. Playtech plc omitted to include this reference to board approval in its announcement, or its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022.
As Playtech plc correctly notes, Caliplay believes the option has not expired. Caliplay made this clear to Playtech plc on 23 December 2022 when it challenged the accuracy of its 22 September 2022 announcement.
Caliplay remains keen to resolve this matter swiftly, and is committed to the ongoing discussions.