Authored by Josiah Leadbetter

Aristocrat looked to be closing in recently on its acquisition of the gambling technology group, but only 55% of the Playtech shareholder's votes were cast in favour of the deal.

Last week, Playtech's share price shot up by 5% in anticipation that a takeover was imminent.

Apparently, the vote needed to meet the 75% threshold to pass, and around 78% of the shareholders cast their vote.

Nevertheless, Playtech's chair, Brian Mattingley, wasn't too concerned, as he said the result showed Playtech's standing in the market, and it  gave an indication of how "valuable Playtech really is".

Aristocrat's initial share price offer was around the 680p mark, but Mattingley admitted Playtech had struggled to make much headway in trying to engage with the company's Asian shareholders.

He said: "We have exhausted that list and nobody actually has responded."

Playtech's rejection of the takeover offer stumped up by Aristocrat clearly shows what they feel they are worth, and they aren't prepared to accept any old figure. Over the years, Playtech has worked hard to cultivate its reputation as an esteemed games developer, and they have certainly hit the mark in the online casino arena. More specifically, Playtech has become one of the leading slot software providers, and they have the best online slots available at UK casinos. Indeed, the likes of Betway will showcase the finest Playtech slots, such as Age of the Gods and Buffalo Blitz that will have plenty of features and free spins to keep players engaged.

Naturally, there will be an eagerness among the Playtech board for the company's future to be resolved rather than just letting things drag on.

The group of investors may need to be carefully handled to bring them more in line with the plans, and the long-term vision that Playtech has.

However, Playtech is a complex business, and no takeover agreement would be straightforward due to the operations selling back-end software to gambling groups.

Playtech continues to be one of the biggest players in the gaming business, and Aristocrat's failed takeover bid isn't the end of the road.

If anything, it is very much the beginning of what could well be an exciting new chapter for Playtech. We should therefore manage expectations of what Playtech will be like once it manages to sell off its assets. In the meantime, the speculation will continue until a suitable buyer is found.