Israeli gambling firm Playtech's move into finance just hit a road block
Playtech said in a statement that it has "received a letter from the Central Bank of Ireland ("CBI") opposing the proposed acquisition of Ava Trade." It's not clear what CBI's objections are.
Meanwhile, the company is still waiting for approval on its deal to buy Plus500, after warning investors in the middle of last month that it was being delayed by "the high profile nature of Playtech's acquisition of Plus500."
Playtech made a swoop for fellow Israeli contract for difference (CfD) operator Plus500 while it was mired in an anti-money laundering crisis with Britain's regulator. Plus500 lets investors make risky bets on stocks and currencies using borrowed money.
Playtech makes online gambling and casino software for companies like William Hill and Paddy Power. It began moving into online currency trading and contract for differences earlier this year with the acquisition of TradeFX in April.
Then in June the company snapped up Plus500 for £459.6 million ($702.05 million) and bid $105 million for Ava Trade.
Playtech says it thinks issues with the Ava Trade "can be addressed to the CBI's satisfaction" but shares are down 2.48% in London on the news.
