Caliplay, the Mexican and LatAm joint venture formed by Grupo Caliente and Playtech Plc, has issued a statement related to the ongoing ‘services fee’ dispute between its venture partners.

Last week, FTSE250 Playtech informed its investors that it would seek a determination by British Courts on whether Caliplay was entitled to redeem an additional services fee related to its working arrangements.

Playtech, which owns a 49% stake in the JV, believes that Caliplay has not fulfilled its duties to redeem services fee options that require determination by an independent investment bank to value JV entitlements.

However, issuing a response, CaliPlay outlined that the option should remain exercisable within 45 days following board approval of the JV’s audited accounts for FY2021 – a period which Playtech believes to have expired.