JPJ Group Completes the Acquisition of Gamesys
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The JPJ Group (formerly Jackpotjoy) has completed the acquisition of Gamesys. The deal, which includes Virgin Games, Virgin Casino, Monopoly Casino and Heart Bingo was originally announced in June. JPJ is paying £250m in cash as well as a further £240m in new shares.
The Board changes that have been made include Simon Wykes moving to the role of transition director, where he will remain for a tenure of 12 months, while Fenton has moved in as CEO and Robeson Reeves as COO.
“The completion of the acquisition of Gamesys marks an important milestone for the company, creating a leading UK and international operator and offering customers an even greater choice of major brands and different games. For shareholders, the acquisition will deliver earnings accretion in the first full financial year of ownership whilst employees will also benefit from the combination of two companies with a strong commitment to responsible gaming,” Neil Goulden, executive chairman of Gamesys Group said.
“However, the completion of the acquisition and the creation of Gamesys Group marks just the start, and the board and senior management team, led by chief executive officer Lee Fenton, are now resolutely focused on integrating the two businesses and further enhancing our product and technology offerings. We are very excited about the opportunities and prospects ahead and look forward to providing further updates on the new group,” Neil Goulden added.
Source: Latest News on European Gaming Media Network
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