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New Letter of Intent

Parlay Entertainment announced that more than one company is now interested in acquiring the online casinos software company – which certainly dampens the plans of PEIC Acquisition who sent a letter of intent to acquire to Parlay previously. Parlay is a Canadian company that specifically specializes online bingo gambling.

PEIC Acquisition’s letter of intent offered the company Cdn $12.3 million. The new offer on the table is an undisclosed amount, but a spokesperson for Parlay commented that the new offer was higher than the previous one from PEIC. In addition to no specific information from the online casinos bingo company on the amount of the offer, the company that issued the new “expression of interest” is anonymous.

The new expression of interest undoubtedly put a halt to PEIC’s plans – the company was already involved in the due diligence stage of the acquisition, and all of that could be for naught with a new company in the mix. Although there is no way to tell which company will win the fight for acquisition of Parlay online casino bingo, most industry analysts predict the issue will be resolved in the near future.