Interesting indeed. My thinking is that the share price will...

Interesting indeed. My thinking is that the share price will take a big hit if the Playtech deal doesn't happen. ALL's products and market position are both very good and the company is well placed for the future, even without Playtech. But it's clear that real money gambling is the big ticket growth engine in this sector, and buying Playtech offers the easiest and cheapest way to get a big foothold in that market.

I'm sure ALL can still do well if the deal falls through, but... they've put more than a year into it, done a CR to pay for it, and are budgeting on it happening, all because it is such a necessary step in their growth strategy. Covid and the ongoing threat of lockdowns or punters just choosing to stay away from casinos only makes RMG more lucrative and in-person gambling more risky – both for the punters and we investors.

If the article you posted is correct and investors are really snapping up Playtech shares to increase the offer price or block the takeover, it doesn't bode well for ALL. They'd either have to match or better the bid, or walk away. The (unsubstantiated) idea that ALL is concerned enough about it to ask for an investigation into possible cartel behaviour by the (unnamed) investors, is also a worry.

Tomorrow is the deadline for JKO to make its takeover intentions known. Let's hope they've decided against proceeding – although I didn't think they would need to run it right up to the deadline before making that call. That would at least provide some clarity, and I think the share price into the future would reflect the new certainty.

Tomorrow is an important day, one way or the other.