• Gamesys Jackpotjoy Sale
• Jackpotjoy Group Gamesys

The operator said that following the merger between JPJ Group, the owner of the Jackpotjoy brand, and the legacy Gamesys business in 2019, the integration of operations progressed as expected in 2020.

Gamesys Group plc. We are a leading international online gaming operator, well positioned strategically for future growth in an evolving global sector. Gamesys Group plc offers bingo and casino games to its customers through a range of brands including Jackpotjoy. JPJ Group, owner of the JackpotJoy brand, has completed the £490m acquisition of a number of assets from its long-term technology partner, and will begin a new. Gamesys Group is one of the world’s leading gaming operators. The company includes recognisable brands such as Virgin casino, Jackpotjoy, and Heart bingo. The Gamesys Foundation’s funds come from both corporate contributions and employee initiatives.

(Reuters) - Jackpotjoy owner JPJ Group said on Thursday it agreed to buy bingo software developer Gamesys for about $621.1 million, to cut its reliance on third-party technology platforms and tap. Gamesys Group is one of the world’s leading gaming operators, with tens of millions of players and 1500+ employees. Take a look at our brands & sites - Virgin, Jackpotjoy, Vera&John, Monopoly, Heart - they’re some of the best-known names in our industry, and we’re proud of it!

This, Gamesys said, was despite the business facing “unprecedented challenges” as a result of the novel coronavirus (Covid-19) pandemic, which impacted its operations for the majority of the past year.

Gamesys added that much of its success in 2020 was down to its intensified focus on responsible gambling, as well as prioritising the health and wellbeing of both its players and employees.

This included the group halting all non-targeted customer marketing, including television and radio advertising, during the first Covid-19 lockdown in the UK in March 2020.

As such, Gamesys said revenue for the 2020 financial year, along with adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) will be above or at the upper end of market expectations for the 12-month period.

“Against the backdrop of a global pandemic, our relentless focus on the sustainability of our revenue streams, coupled with ensuring player and staff wellbeing, has positioned us well to carry our considerable forward-momentum into 2021,” Gamesys chief executive Lee Fenton (pictured) said.

“We maintained strong and sustainable growth during 2020; a period in which we completed the integration of our enlarged group, entertained record numbers of active players, and significantly enhanced our propositions and technology platforms.”

Fenton also pointed out Gamesys was able to push ahead with its inaugural dividend in 2020, with shareholders being paid in October.

“As we enter 2021, we are in a strong position to continue to deliver growth in the business and create value for our shareholders,” Fenton added.

Gamesys counts the likes of Jackpotjoy , Virgin Games, Botemania, Vera&John, Heart Bingo, Monopoly Casino and Rainbow Riches Casino among its operating brands.

The governance of London-listed JPJ Group Plc has this morning confirmed that it has reached a ‘conditional arrangement’ to acquire operating partner Gamesys Limited outright.

JPJ has put forward a £490 million transaction, moving to acquire Gamesys platforms and the operated brands of Virgin Games, Virgin Casino, Monopoly Casino, and Heart Bingo.

Founded in 2001, Gamesys is the former operating company of JackpotJoy brands, a division sold to former Canadian igaming group Intertain for £430 million in 2015.

Following a wholesale corporate reorganisation in 2017, which would see Intertain migrate its listings and holdings onto the London Stock Exchange, a new executive formed JackpotJoy Plc – later renamed as JPJ Group.

In its filing, JPJ informs that it will pay £250 million in cash for Gamesys assets (excluding sports betting properties), with a further £175 million contribution added to an enlarged and renamed ‘Gamesys Group Plc’ debt facilities.

The transaction represents an estimated multiple of 7.3x adjusted EBITDA for Gamesys assets for the 12 months ending December 2018.

Should the acquisition be finalised, a new leadership team will be formed from JPJ and Gamesys executives, with current Gamesys CEO Lee Fenton appointed as Gamesys Group Chief Executive.

“I am very excited to join the Enlarged Group as CEO,” said Fenton. “This is a strategically important transaction that adds scale and combines complementary capabilities as the competitive and regulatory environment continues to evolve. The Enlarged Group’s combined brand portfolio, strategically aligned operating structure, technology capabilities and exceptional combined talent base will create significant opportunities for growth in the market.”

Fenton will be supported by Robeson Reeves as Group COO and Keith Laslop as Group CFO. Current JPJ Chief Executive Simon Wykes will assume the role of ‘Transition Director’ for a 12-month period following the transaction.

Gamesys Jackpotjoy Sale

At a governance level, an enlarged Gamesys Group will be led by Neil Goulden as Executive Chairman.

Jackpotjoy Group Gamesys

“This Acquisition marks an important transformational step in JPJ’s growth, providing significant benefits for shareholders, employees and customers,” said Goulden. “For shareholders, we expect the acquisition to deliver earnings accretion in the first full financial year of ownership, while our employees will benefit from the combination of two companies with a strong commitment to responsible gaming and where the greater scale will further enhance our product development and technology capabilities.

“The rationale for the acquisition of Gamesys is based on growth and both teams – at JPJ and our new colleagues joining us from Gamesys – are excited and motivated by the great opportunity which lies ahead.”