Ex-F1 boss Jordan ponders gamble on Playtech

Gambling software maker Playtech confirmed it has received an approach from a consortium that includes former Formula One team owner Eddie Jordan about a potential bid.

The approach from the JKO consortium is the third after Gopher Investments expressed an interest in Playtech a couple of days after it accepted Sydney-based Aristocrat Leisure's £2.1bn offer.

Playtech said talks with JKO were "at an early stage and ongoing. As such, there can be no certainty that JKO's approach will result in an offer for the company".

“JKO Play Limited seeking access to certain due diligence information, in order to explore terms on which an offer for all of the issued and to be issued share capital of Playtech might be made,” Playtech said on Thursday.

It added that JKO said it was in talks with private equity outfit Centerbridge and other financiers about institutional debt and structured capital funding.

"Diligence remains on-going and no financing commitment has been provided by Centerbridge. Other sources of debt finance are also being considered," Playtech said.

Aristocrat said it was working with Playtech to implement the deal and added that regulatory approval was "on track" and "Aristocrat is focussed on progressing this quickly".

The Australian firm also urged shareholders to back the deal at meeting scheduled for January 12 .

“Aristocrat believes that the terms of the recommended acquisition and the compelling strategic rationale provides certainty for Playtech shareholders with no contingent value or other complicated structures for shareholders to realise value. Aristocrat also believes that the combined group will provide greater opportunities to Playtech employees.”