Caliplay guards against Playtech legal action in ongoing service fee conflict
Mexican online casino and sports betting brand Caliplay has responded to Playtech’s legal action, accusing the London-listed supplier of omitting vital information.
Caliplay is Playtech’s joint venture with Mexico-based operator Caliente Interactive.The dispute centres around the option held by Caliplay to redeem an additional services fee payable to Playtech’s Malta subsidiary that was included in a prior strategic agreement between the two companies.
According to Playtech, the option is exercisable for 45 days following the approval of Caliplay’s audited accounts for the year ended 31 December 2021.
Playtech claimed the option had expired and said it had mentioned this also in its interim report for the six-month period ending 30 June 2022.
For the six months ended 30 June 2022, Playtech said the service fee amounted to €34.4m.
Board approvalHowever, Caliplay stated that the option remains in effect, and can be exercised 45 days after the approval of its audited accounts by its board of directors, which has yet to happen.
Caliplay has therefore accused Playtech of not mentioning the requirement for board approval in its announcement or interim report.The company said it made this clear to Playtech in December 2022.
Moreover, the Mexican operator stressed the claim had not been issued against it by its “partner Playtech plc” as originally announced by Playtech, but by its Playtech Malta subsidiary.
Furthermore, Caliplay emphasised that the court action was taken without warning, despite both parties being engaged in an ongoing resolution process.
Caliplay said it remained keen to resolve the matter swiftly, and was committed to the ongoing discussions.