Latest News
Avonhurst advises on £3 billion Playtech bid
Eddie Jordan withdraws from multi-billion-pound race for Playtech
Avonhurst client JKO Play has withdrawn a potential takeover offer for the gambling company Playtech. JKO Play is owned by former Formula One team owner Eddie Jordan’s family office and gambling industry veteran Keith O’Loughlin. The company, which currently holds a 0.51% stake in Playtech had reviewed the possibility of placing a bid in excess of £3 billion for the acquisition of Playtech.
Avonhurst is a new fashioned law firm that provides legal services across deals and disputes, political advisory services and capital services.
Playtech is an FTSE 250 company that supplies online gaming software for companies including Bet365, William Hill, Betfair and Paddy Power.
Jonathan Bloom, Chief Executive of Avonhurst, comments: “Our ability to attract clients of the calibre of JKO Play and be instructed on such high value deals illustrates how our offering has grown over the last two and a half years. Sophisticated capital clients are increasingly valuing our comprehensive legal and advisory offering, assisting them in navigating complex deals and assess and protect their interests from all angles, including legal, regulatory and economic and political risk. Working on this mandate is evidence that our holistic approach to representing sophisticated capital isn’t just “nice to have” but required in today’s ever changing and complex deal environment.
“When Eddie and Keith hired Avonhurst, they were focused on our unique approach to service delivery, our shared risk approach and the value we placed on complete discretion. Over the 8 months we worked on the deal, we were able to assemble the relevant legal services the client needed across corporate, finance and capital markets, we leveraged our advisory services business to provide intelligence regarding shareholders and helped introduce capital to the deal through our capital services business. We also brought into the deal additional advisors as required to ensure our clients received the very best advice. No other firm could have provided all these services under one roof in the seamless and coordinated approach taken by Avonhurst.”
Eddie Jordan, Chairman of JKO, comments: “Races aren’t won by a driver alone, it’s the critical parts of the team that deliver a victory. Avonhurst was key to our ability, not only to assemble the team of advisors and partners that participated in the deal, but in helping JKO navigate the risks and opportunities inherent in such a complex series of transactions.
“We are immensely proud of the energy devoted to this project by our advisory team and partners and of the close relationships we have built. We continue to evaluate a number of opportunities in the gaming and associated technology sectors, where we see exciting growth prospects in a number of international markets.
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Angela Bernhard Thomas
CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL
- CSMG will create and operate College Street FighterTM Tour in North America for the 2024-25 academic year
- College conference Street Fighter 6 champions will punch their ticket to the national Collegiate Esports Commissioner’s Cup (CECC) & May Madness in 2025
Clark County
Clark County residents can bring a friend for free to next week’s Super Bingo $160,000 tournament at the Plaza Hotel & Casino, May 6-8
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino is offering Clark County, Nevada residents who register to play in next week’s Super Bingo tournament the opportunity to bring a friend for free.
Happening Monday, May 6 through Wednesday, May 8 in the Plaza’s expansive ballroom, Super Bingo is expected to draw nearly 1,000 people from the local Las Vegas valley and across the country and Canada for the opportunity to win big playing fun-filled games of bingo over two days, with a $50,000 super coverall both days while socializing with like-minded bingo players.
Bingo-only registration is $160 per person, and Clark County residents who register can bring a friend for free. Registration is available online at https://www.plazahotelcasino.com/bingo/super-bingo-registration/. Hotel-and-bingo packages start at $300 for a four-night stay with no resort fee.
All Super Bingo players receive one 6-on paper pack for both days, two daubers, free drinks via an open bar at all sessions, boxed lunch both days, and $10 in free slot play after the first day’s session.
The Plaza’s Bingo room offers six daily bingo sessions at 11 a.m., 1 p.m., 3 p.m., 5 p.m., 7 p.m. and 9 p.m. and is located on the 3rd floor. By parking on the third floor of the Plaza’s self-parking garage, guests have convenient and direct access to the Plaza’s bingo room and parking is validated for bingo players.
Gambling in the USA
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.
The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.
The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.
Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.
“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”
Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”
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