Playtech shareholders vote against Finalto sale to Barinboim

The company said 68.3% of its shareholders rejected the proposal at a general meeting, which would have seen Barinboim buy Finalto for $210m.

This means that Playtech can now go back and engage with Gopher Investments, having rejected its $250m for Finalto earlier this month.

Gopher, which owns a 5% stake in Playtech, made its offer after Barinboim, but Playtech decided to hold firm with the first offer, arguing that it was not clear on "Gopher's ultimate ownership and funding structure, source of funds or ability to obtain the required regulatory clearances".

Playtech said on Wednesday: "The board's stated strategy remains to simplify Playtech's business and to dispose of Finalto for the maximum available proceeds.

"Having consulted with its leading shareholders, Playtech understands that by voting against the resolution to dispose of Finalto to the consortium, shareholders have been willing to accept the risk of the SPA terminating, thereby enabling Playtech to engage with Gopher and to potentially secure better terms for a sale of Finalto."