Parlay turns down all three suitors

March 17, 2008

Online bingo software developer Parlay Entertainment has turned down all three parties bidding to buy the company. The move has caused a 20% decline in Parlay’s stock value.

A statement by Parlay said a “binding agreement has not been concluded with any of the parties who expressed an interest in conducting due diligence in the company within the timeframes established by the special committee of the board of directors”.

Interest in the bingo online provider reached a height when Parlay said it had entered into a letter of agreement with PEIC Acquisition. PEIC pulled out latter when it emerged that two more bidders were in the frame.

Parlay is a Canadian company that produces online bingo games software and enjoys a UK white list status which allows it to advertise its online bingo products in the UK.

Written by John Witherspoon – Come and play online bingo at its best! The best bingo games online are one click away.

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