Parlay Sale Talks Amicably Dissolved

13 March 2008

By Christopher A. Krafcik

Following roughly two months of due diligence and sales talk -- accompanied by a revolving door of interested parties -- Toronto-listed Parlay Entertainment said this morning that no binding agreement had been reached with any of its anonymous suitors.

Negotiations were amicably dissolved, Parlay said, after the parties were unable to reach an agreement within the time frame established by the special committee of Parlay's board of directors.

In a written statement, Parlay expressed gratitude to the parties involved and said that, in the coming months, it will be "focusing its efforts on the continued expansion of its core licensing business."

Parlay Chief Executive Scott White could not be reached for comment.

In mid-afternoon trading, shares in Parlay are down CA$0.27, or 28.1 percent, to CA$0.69.

Parlay Sale Talks Amicably Dissolved is republished from iGamingNews.com.