Former F1 boss Eddie Jordan is considering a £3 billion bid for Playtech

Former Formula One team owner Eddie Jordan is part of a consortium weighing up a £3 billion offer to Playtech, as the London-listed gambling software provider becomes become the focus of a potential bidding war.

Last month, Playtech’s board recommended that shareholders accept a £2.7 billion takeover offer from Aristocrat, the Australian slot machine developer, and a rival offer from a shareholder. second largest Gopher Investments.

JKO Play, the consortium founded by Jordan and Keith O’Loughlin, who previously ran the sports betting business of Nasdaq-listed Science Games, confirmed that it is “evaluating the offering of a proposal.” competitive offer for Playtech”. JKO is in talks with US-based investment firm Centerbridge, among other potential partners, to finance the cash and stock offering for the business.

Playtech confirmed that its management has “received a preliminary approach from JKO Play to seek access to certain due diligence information, in order to learn the terms upon which it may be entered. offer for all of Playtech’s issued and to-be-issued equity.

Jordan’s role leading JKO Play is just the latest phase in a career that spans from motocross driver and F1 team owner to television pundit and businessman.

After winning the Irish Kart championship in 1971, he raced in Formula Three and Formula Two throughout the 70’s. After being involved in a number of major accidents, he founded his eponymous racing team. in 1980 and enjoyed considerable success in Formula 3 and Formula 3000 before forming the Formula 1 team in 1990.

Drivers who are in love with Jordan include Michael Schumacher and Eddie Irvine, while Damon Hill, Nigel Mansell and Ayrton Senna (his favorite driver) also drive him.

After selling the struggling Jordan Grand Prix in 1995, he became a research fellow for the BBC’s Formula One program from 2009 to 2015, then moved on to Channel 4.

Through his family office, Jordan has invested in a variety of businesses in recent years, from the Celtic football club to the game company Entain. Earlier this year, he founded JKO Capital to seek investments in the gaming and entertainment business.

Besides the approach from JKO Play, Playtech is also said to be in talks with Caliente, a gambling business primarily operating in Mexico, about a potential joint venture through a public merger with a buying company. again has a special purpose (Spac), according to Sky News, which first reported Jordan’s potential move on Playtech.

Aristocrat says it is conducting regulatory approvals regarding its own offer to Playtech, already has financial facilities and has completed an equity raise of up to AU$1.3 billion (700 USD). million pounds) with “strong reception from Aristocrat shareholders”. During a presentation of full-year results on Thursday, Trevor Croker, chief executive of Aristocrat, said it had also received irrevocable commitments and letters of intent in favor of the takeover from an investor. Playtech, who represents 16.5% of the London-listed company’s shareholder base.

The next step in the potential bidding war would be for the UK’s Takeover Council to announce a deadline when JKO Play and Gopher must “clarify their intentions” in relation to Playtech.

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