TTB Partners on Thursday walked away from making a takeover offer for British gambling software company Playtech, citing challenging market conditions.

The finance company said it remains supportive of the board, the management team, their strategy for Playtech and the business’s prospects.

Chief executive Mor Weizer said: “Playtech carries strong momentum going into H2 2022 and continues to perform very well across its core B2B and B2C businesses. This performance reflects the quality of our market-leading technology offering and the hard work and commitment of our talented team.

“We remain confident in our long-term growth prospects and, in particular, our ability to benefit from the structured agreements that are already allowing Playtech to access newly opened gambling markets.”