Playtech encounters delays in Plus500 acquisition

Playtech announced that it expects to complete its $105 million takeover of Ava Trade by the end of September or early October, but has encountered regulatory delays in its £460 million ($712 million) acquisition of Plus500 assets.

Playtech expects the Plus500 deal to be finalized by October but due to the profile of its acquisition the deal has met further regulatory assessments which will likely delay deal completion until November.

Playtech has assured investors that it is confident that its Plus500 deal will pass all assessments needed for completion. The Cyprus Securities and Exchange Commission has already given it the green light.

Aiming to further diversify its product range, Playtech has undertaken a series of acquisitions targeting the financial services sector.

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