Playtech Abandons Plus500 Acquisition Deal

Internet betting software developer Playtech has announced that they have abandoned their attempts to purchase financial spread firm Plus500 after they determined that they would not be able to fulfill conditions of the sale put out by the Financial Conduct Authority.

Playtech said that it may also have to abandon its purchase Ava Trade, as the falling through of the Plus500 deal means that it is possible the group will exercise their termination right. Playtech will not pay a fee for abandoning the deal, and will maintain its 9.9% stake in the group as of now.

Casino Listings will update this story as more developments arise.

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