Billionaire Heiress Buys More Playtech Shares
Karen Lo, a billionaire heiress to a Hong Kong soymilk empire, has reportedly accumulated more stakes in Playtech.
Lo, who recently became a shareholder of the leading supplier of online gaming and sports betting software, has now had almost 5 percent shares of the company.
Lo is highly popular in the Hong Kong high social circles and is the granddaughter of Dr. Lo Kwee-seong, founder of Vitasoy, a drinks manufacturing giant headquartered in Hong Kong.
Her shareholding built up in Playtech comes after the company recommended a £6.80-a-share offer from Aristocrat Leisure, Australia's biggest gaming machine provider.
As revealed in regulatory filings, Lo has been buying shares for about £7.50 each, which, according to market experts, would give her a loss if the Aristocrat deal pulls through at the current or recommended price.
However, Lo is not the only big name currently buying Playtech's shares above market price.
Other rival acquirers include Tang Hao, Stanley Choi, and Paul Suen, a big shareholder in Birmingham City Football Club and Les Ambassadeurs casino in London, and currently owns more than 4.1 percent in Playtech.
The recent stake building follows a third takeover approach from a consortium led by Formula 1 boss Eddie Jordan consisting of Gopher, a Hong Kong-based vehicle sponsored by Teresa Teague and son of former HSBC chairman John Bond.
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