(Alliance News) - Online bingo-led operator JPJ Group PLC on Thursday said it has completed the acquisitions of Gamesys Holdings Ltd, excluding sports brands and games.
JPJ, which was called Jackpotjoy until a year ago, is paying GBP250 million in cash for Gamesys as well as GBP240 million in new shares.
With the effect from Friday, the enlarged company will be renamed Gamesys Group PLC and current Gamesys Chief Executive Lee Fenton will become CEO of the new firm, while Gamesys Chief Operating Officer Robeson Reeves will assume a role of COO.
Gamesys shareholders will own 31% of the enlarged Gamesys group, which will be eligible to join the FTSE index.
"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," explained JPJ Executive Chair Neil Goulden.
He added: "We are very excited about the opportunities and prospects ahead and look forward to providing further updates on the new group."
JPJ shares were flat on Thursday afternoon in London at 725.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
