British leading Bingo operator, JPJ, joins forces with Gamesys, hoping the diversified portfolio will expand the Enlarged Group’s market outreach.
JPJ and Gamesys Combining Forces to Conquer the Market
JPJ Group announced the acquisition of Gamesys Corporate. Both British companies agreed to the £490m deal, which will rebrand the two companies under the name Gamesys Group PLC. The increased scale should benefit both of them, enhancing the players’ experience as well as profit.
By the end of this year, the acquisition and organization of the new company should be completed. JPJ Group’s acquisition of Gamesys as the leading game operator and developer in the industry. JPJ is bound to pay an additional £250m in cash and £240m in shares. The deal includes content and brand licenses, such as Virgin Games, Virgin Casino, Monopoly Casino, and Heart Bingo. The only content excluded from the agreement is Virgin Bet and LiveScore site.
Executive Chair in JPJ, Neil Goulden, who will retain his role in the company, explained that the acquisition is an essential step in JPJ’s transformation. Expanding the company will be beneficial for both parties while strengthening opportunities for stakeholders, employees, and clients alike. Goulden hopes to diversify the brands’ portfolio, broaden their outreach to the foreign market, and improve the user’s involvement, as well as the profit of the new company.
The proposed Chief Executive is Lee Fenton, currently occupying the same role in Gamesys. The Gamesys Corporate will have 31% of the shares in the new company. Also, Fenton added that he was excited about the union, as the combined capabilities would create significant opportunities for further growth in the market.