Parlay Entertainment Turns Down All 3 BidsParlay Entertainment, an online bingo software developer has turned down all three parties that were bidding to buy the company. That decision has caused a 20 percent decline in Parlay's stock value.
A statement that Parlay issued said that 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 online bingo provider reached the highest when Parlay side that they had entered into a letter of agreement with PEIC Acquisition. But PEIC backed out of the deal later on when they learned that there were 2 other bidders vieing for the company.
Parlay is based in Canada and they produce online bingo game software and they currently have a UK while list status that allows them to advertise their online bingo games in the United Kingdom.
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