Jackpotjoy Group completes acquisition of Gamesys

Business News

JPJ Group has completed of the acquisition of the business of Gamesys, excluding sports brands and games.

The completion of the Acquisition follows the announcement on 13 June 2019, that the Company had entered into a conditional agreement to effect the Acquisition, for a mixture of cash and New JPJ Shares. Shareholder approval for the Acquisition was granted at the Company’s General Meeting held on Wednesday 31 July 2019.

As the Acquisition constitutes a reverse takeover under the Listing Rules, admission of the Company’s existing ordinary shares to listing on the Premium Listing segment of the Official List and to trading on London Stock Exchange’s Main Market for listed securities will be cancelled and readmission will take place around 27 September 2019.

Applications have now been made to the Financial Conduct Authority and London Stock Exchange, respectively, for the admission of 108,127,524 ordinary shares of £0.10 each, comprising of 33,653,846 New JPJ Shares and the re-admission of the Company’s 74,473,678 Existing JPJ Shares, to the Premium Listing segment of the Official List and to trading on London Stock Exchange’s Main Market for listed securities.

Neil Goulden, Executive Chairman of Gamesys Group plc, commented: “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.

However, the completion of the acquisition and the creation of Gamesys Group plc 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.”

Lee Fenton, Chief Executive of Gamesys Group plc, commented: “Following today’s successful completion, I am very excited to join the Enlarged Group as CEO. The combination of two leading and complementary businesses has created an organisation with greater scale and capability which stands the new Gamesys Group plc in good stead as the competitive and regulatory environment continues to evolve.

With full operational control of technology and operations, an enhanced brand portfolio and our exceptional combined talent base, we are confident that we are well positioned to create significant opportunities for future growth.”