Playtech, a prominent gambling software firm, finds itself embroiled in a financial dispute with its largest client, Mexican gambling platform Caliplay. 

Playtech Battles €122 Million Payment Dispute with Caliplay

According to Playtech, Caliplay has declined to settle its dues, amounting to a staggering €122 million ($131 million) in fees accumulated between 2023 and 2024.

The refusal to pay comes amidst a protracted legal battle between the two entities. Caliplay has sought to terminate its contractual obligations with Playtech, sparking a contentious legal tussle that has yet to reach a resolution. Despite the mounting financial strain, Playtech remains optimistic about recovering the outstanding funds through legal recourse, reported The Evening Standard.

The repercussions of Caliplay’s non-payment have reverberated through Playtech’s financial statements. Notably, the company reported a significant surge in profits for the fiscal year 2023, reaching €235.8 million ($253 million). This substantial increase in profits includes the unreceived fees from Caliplay, reflecting Playtech’s confidence in eventual reimbursement.

The company disclosed a revenue figure of €1.7 billion ($1.84 billion), reflecting a year-on-year growth of 7%. Conversely, EBITDA reached €406.5 million ($440.3 million), marking a 12% increase.

Mor Weizer, the CEO of Playtech, conveyed his unwavering confidence in the company’s resilience amid the ongoing challenges, stating that they remained confident in their ability to execute their strategy and to continue delivering value for their shareholders.

Playtech Faces Uncertain Future Amid Takeover Rumors and Legal Challenges

The situation has also fueled speculations surrounding Playtech’s future, with the company becoming a focal point of takeover discussions. Both its depressed share price relative to earnings and recent acquisition attempts on other industry players have intensified the speculation. 

Weizer hinted at Playtech’s active involvement in potential acquisitions, emphasizing the company’s robust financial position with a substantial cash reserve.

However, industry analysts caution against overlooking the potential ramifications of the Caliplay dispute. Neil Shah, director of research at Edison Group, highlighted the significance of the impending trial in October, suggesting that an unfavorable outcome could inflict substantial financial losses on Playtech.

Despite the looming uncertainty, market sentiments remain somewhat buoyant, with Playtech shares experiencing a marginal uptick in recent trading sessions. Analysts at Jefferies remarked on the market’s apparent pessimism, underscoring the likelihood of a negotiated settlement and the importance of maintaining a constructive relationship with Caliplay.

As Playtech braces for the legal showdown in the coming months, the outcome of the dispute with Caliplay will undoubtedly shape the company’s financial trajectory and market standing in the foreseeable future.

The post Playtech Faces Financial Turmoil as Major Client Caliplay Refuses Payment appeared first on Keno Wizard.

Many people believe in succeeding with the help of good luck. Some engage in good luck rituals, others make a wish when a clock shows the same number three or four times. But then there are some that believe that good luck can be lost and they need to hold on to it.

This is precisely the case of a young woman that was recently recorded playing a slot machine and refusing to leave even for a bathroom break. Yes, that’s right, a woman actually refused to leave her seat at a slot machine to even go to the bathroom. And she peed on the floor of the casino instead.

The new viral video shows a young woman playing a slot machine and peeing in her seat. There’s a puddle on the floor and sadly, she doesn’t mind and continues to gamble as if nothing happened. But why would anyone do this someone might wonder? Well, there’s a myth surrounding slots and particularly winning streaks and luck.

Many gamblers believe that once they start playing a slot, they must continue until they win. Although that sounds like at-risk gambling or even gambling addiction, apparently such activity isn’t anything new. Gamblers would sit and play slots sometimes for hours and not even go on a bathroom break. It’s no surprise that this would continue until the person has no money left, or, in some cases wins.

If anyone leaves their slot machine, then another person would swoop in and hit the big win, dedicated gamblers say. This is a prime reason why people would spend hours and refuse to leave their slot machines even for a bathroom or a snack break.

Slots Veterans Would Rather Use Diapers

The video that hit Instagram last week doesn’t confirm the name of the venue or the identity of the player. However, that apparently isn’t important, as peeing on the casino floor isn’t that uncommon. Seasoned gamblers come prepared for such situations by using diapers.

Comments on social media under the newly released video confirm that using diapers to keep your spot on a slot machine is a thing. What’s more worrying, some online users explained that many people would even die on the casino floor and not leave the slot machine they are sitting at. One online user noted that people fail to take their medication or do not engage in other medical treatments to keep their slot. “They find people dead at slot machines all the time,” wrote that online user.

In Nevada, a person caught urinating or defecating in public can be subject to a fine or prison. Such activities are typically labeled as a misdemeanor and can be subject to a fine of up to $2,000 or even imprisonment.

The post Woman Refuses to Leave Slot and Pees on Casino Floor appeared first on Keno Wizard.