Playtech, Caliente End Dispute, Expand Relationship

Gaming companies Playtech and Caliente have announced that they've ended their financial dispute, which has been ongoing for a long period and revolved around unpaid fees by the Mexican gaming operator.

The dispute comes from the old agreement between the two companies, which saw Caliente able to redeem credits for service fees as part of their joint venture Caliplay. Playtech alleged that the term on that portion of the deal expired, but Caliente maintained that it was still in place. At the time of the outset of the dispute, Playtech claimed it was owed €34.4 million, but that has grown to more than €150 million over the years.

The new agreement will see Caliente paying the fees in full, with a portion being put into escrow which will be released on the closing of the new agreement terms by the end of 2025. Playtech will have a 30.8% share in a new holding company dubbed Cliente Interactive, which will be based in the United States. Other perks for the company include shareholder rights, dividends, and the ability to appoint a member to the company's Board of Directors.

If the agreement is closed on as expected, the legal cases between the two groups will be dismissed in full.

Regarding the agreement, Playtech CEO Mor Weizer said: "The revised arrangements mark the beginning of an exciting new chapter that will build on the impressive progress to date, with a view to driving significant further growth for Cali Interactive in the future.

"The agreement with Caliente and Caliplay underlines the attractiveness of Playtech leading proprietary technology. With a strong position in Mexico and exposure to other fast-growing markets in the Americas and Europe, we remain well-placed to deliver strong growth in our B2B business in the coming years."

Caliplay Chairman Emilio Hank also commented, adding: "We are focused on growing Caliplay, leveraging our core strengths and Playtech's leading technology to broaden our geographical footprint, as we continue in our mission to give the best gaming experiences to our customers in Mexico and beyond."