Playtech grants interested buyer more time to finalize its takeover offer

In the United Kingdom and online casino games developer Playtech has reportedly issued JKO Play Limited with more time to officially prepare a £2.7 billion ($3.7 billion) takeover proposition after last month urging the entity to hurry things up.

According to a report from the Evening Standard newspaper, the Isle of Man-based innovator is already sitting on an official offer from Australian gaming machines behemoth Aristocrat Leisure Limited and could also be about to receive an analogous proposal from the Gopher Investments arm of boutique finance firm TTB Partners Limited. The source detailed that any such sale would need to be signed off by at least 75% of the target’s investors as they look to free the London-listed company from net debts worth approximately $909.5 million…