Alongside posting a 104 per cent increase in total revenues to €75.1m for the first quarter of 2012, Playtech said Wednesday that it has dropped plans to acquire real money gaming and social media assets, as well as an equity stake in a related B2C venture, and will instead enter into a software licence agreement for those assets.

Last month, Playtech signed a non-binding memorandum of understanding (MoU) with an undisclosed party regarding the potential €95m acquisition of various assets and businesses, from entities linked to the company’s largest shareholder Teddy Sagi.

In a trading update to the London Stock Exchange this morning however, Playtech said that it has now amended the MoU, with the company’s board deciding instead to enter into a software licence agreement for those assets.

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