ANOTHER BID IN THE WORKS FOR PARLAY?

1 February 2008

"Expression of interest" could upset timed out exclusivity of PEIC letter of intent


If Mark Blandford's PEIC Acquisition thought its letter of intent to acquire Parlay Entertainment (see previous InfoPowa report) had the deal in the bag, it may have to reconsider its options.

Late-breaking news Thursday is that the Canadian bingo software specialist has received a second "unsolicited expression of interest."

Parlay spokesmen said the company could give no further details regarding the approach other than to say it was “superior” to the PEIC offer of Cdn$ 12.3 million.

The exclusivity period on the PEIC letter of intent ran out late afternoon on 30 January in Toronto, technically opening up the market to Parlay, although due diligence was in process by PEIC.

Online Casino News courtesy of InfoPowa