Playtech Wins Appeal Against Irish Central Bank Decision

Playtech announced in a regulatory filing that it has won an appeal against a decision by the Central Bank of Ireland (CBI), with which the institution opposed its attempt to acquire broker Ava Trade in October.

According to Playtech, the decision-making process that led to the CBI’s opposition was erroneous. The CBI announced its opposition to the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term without providing motives in early October, prompting Playtech to take action.

The gaming giant needed the approval of the CBI for the acquisition because Ava Trade is among the few retail Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers regulated by their national watchdog, as the majority choose Cyprus and the UK as jurisdictions of authorization.

The appeal was launched by Playtech after approval from the Irish Financial Services Appeals Tribunal and the matter has now been returned to the CBI for reconsideration.

However, this will not lead to anything, since Ava Trade rejected Playtech’s bid on November 23, following which the gaming company’s application with the CBI was withdrawn.

Playtech first announced plans to acquire Ava Trade for $105 million in May this year, but the Irish company’s shareholders stopped the deal last month.