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Playtech Hits Road Bump in Ava Trade Deal

Internet betting giant Playtech has run into a bit of a roadblock concerning its acquisition of Ava Trade Limited, as the Central Bank of Ireland voiced its opposition to the deal.

Playtech revealed the opposition in a trading update this week, noting that the Central Bank of Ireland is opposing their purchase of the group. Playtech had previously received approval to purchase the company via the Financial Services Commission in the British Virgin Islands.

Playtech noted that they are in contact with the CBI to seek clarification as to why the bank opposes the purchase, publishing a statement which read: "Having taken legal advice and having regard to the circumstances at hand, the company will be seeking clarification from the CBI today and to engage with them in order to discuss certain issues raised in the letter which the company believes can be addressed to the CBI's satisfaction."

Playtech is also in the midst of purchasing financial firm Plus500 Limited, and is also awaiting regulatory approval for the deal.

Casino Listings will update this story as more developments arise.

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