{"id":7868,"date":"2024-09-16T10:31:06","date_gmt":"2024-09-16T10:31:06","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/09\/16\/playtech-and-caliplay-settle-long-standing-dispute-over-unpaid-fees\/"},"modified":"2024-09-16T10:31:06","modified_gmt":"2024-09-16T10:31:06","slug":"playtech-and-caliplay-settle-long-standing-dispute-over-unpaid-fees","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/09\/16\/playtech-and-caliplay-settle-long-standing-dispute-over-unpaid-fees\/","title":{"rendered":"Playtech and Caliplay Settle Long-Standing Dispute Over Unpaid Fees"},"content":{"rendered":"
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Playtech and Caliplay have finally reached an agreement to settle their prolonged legal dispute<\/a> over unpaid service fees. For some time, the two companies clashed over Caliplay\u2019s option to claim additional service fees from their strategic agreement. Playtech maintained that this option had expired, while Caliplay insisted it remained valid. Despite open communication, neither side was willing to compromise until now.<\/p>\n

Key Terms of the Revised Agreement<\/h2>\n

In a new, updated agreement, Caliplay has resumed payments to Playtech. Over \u20ac150 million of the disputed fees, representing about 80% of the total owed, have already been transferred into escrow. This sum will be released either when the revised agreement is finalized or by the end of 2025. The settlement halts all legal proceedings for now.<\/p>\n

As part of the deal, Playtech will gain a 30.8% equity stake in Caliplay\u2019s newly incorporated US holding company, Caliente Interactive. Playtech will also receive $140 million in cash, spread over the next four years, along with the right to appoint a director to Caliente Interactive\u2019s board.<\/p>\n

Additionally, both companies agreed to a revised eight-year B2B software license and services agreement. This new partnership is expected to solidify their cooperation in the long term. The agreement is currently awaiting approval from Mexican antitrust authorities and is projected to be completed by the first quarter of next year.<\/p>\n

Once the new terms are in place, the ongoing legal case between Playtech and Caliplay will be fully dismissed, putting an end to their legal battle. This resolution is expected to help both companies move forward and strengthen their business relationship.<\/p>\n

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