The London Stock Exchange (LSE) welcomed its latest gaming/betting listed enterprise Jackpotjoy Plc this Wednesday.
Debuting on the London exchange as the ‘world’s largest online bingo operator’ Jackpotjoy Plc, formerly Toronto TSX-listed Intertain Group closed its first day of LSE trading securing a share price of 645p.
Headed up by new Chief Executive Andrew McIver, JackpotJoy had first stated its intentions of listing on the London exchange last August. The firm’s new leadership recognised that the company needed to be closer to its main European markets by moving its listing to the LSE.
Since September 2016, JackpotJoy governance has been preparing the firm and its investors for its planned LSE migration, launching a share swap and buy-back program for its TSX investors.
Following its debut on the LSE, Andrew McIver commented that Jackpotjoy had entered a new phase as an industry operator.
“We are delighted to have completed these truly transformational transactions. The London listing will provide us with access to a large, liquid and international market that is home to a number of our global gaming industry peers and a majority of our online gaming peers”
“This exposure to a broader market with extensive sector knowledge and familiarity is expected to contribute over time to a fuller and more appropriate valuation of our business. The listing of exchangeable shares on the TSX is also a significant benefit to a large group of our existing Canadian shareholders and is expected to facilitate a shareholder-friendly migration to London of all trading in our shares.”
