Stars Group Sells Entire Stake In Jackpotjoy For £45 Million
The Stars Group Inc’s subsidiary Stars Interactive Holdings Ltd has sold its entire stake in Jackpotjoy PLC after deciding to increase the size of its share placing due to strong investor demand.
Stars Interactive said on Wednesday afternoon it was to “explore the opportunity” to sell up to 2.8 million Jackpotjoy PLC shares, representing approximately half of its stake.
The company, an indirect subsidiary of Toronto and Nasdaq-listed Stars Group, held 5.6 million shares in Jackpotjoy representing 7.5% of its entire issued share capital.
It has now sold all of its 5.6 million shares in the company at a price of 802.00 pence per share, netting gross proceeds of GBP45.0 million.
Bingo operator Jackpotjoy will not receive any proceeds from the placing.