Parlay M&A: PEIC Withdraws, Two Suitors Remain

20 February 2008

By Christopher A. Krafcik

One down, two to go.

Parlay Entertainment Chief Executive Scott White confirmed with IGN this morning that Mark Blandford's PEIC Acquisition has withdrawn from the bidding process.

Two anonymous suitors remain, and eGaming Review speculated today that Ladbrokes could be behind one of the bids; however, Ciaran O'Brien, PR director the London-listed firm, would not specify either way.

"We obviously look at investment opportunities all the time, but unfortunately I cannot comment on this rumor," O'Brien told IGN.

Parlay's White said that the group has provided a process timeline to the groups that it's speaking to, and that it expects both suitors to have completed due diligence by the middle of next week.

"Our special committee is going to be looking to make a recommendation to the board of directors at the end of the month," he added.

Blandford could not be reached for comment.

Parlay M&A: PEIC Withdraws, Two Suitors Remain is republished from iGamingNews.com.