Online bingo-led provider JPJGroup has finalised Gamesys takeover, excluding matches and sports brands.
First announced in June, the £490m agreement is for a combination of money and fresh JPJ stocks. Through jackpotjoy.com, virgingames.com, botemania.es, verajohn.com, heartbingo.co.uk and monopolycasino.com, the renamed and expanded Gamesys Group now provides bingo and casino games.
The company has appointed Lee Fenton as CEO and Robeson Reeves asChief Operating Officer. While Simon Wykes, the former CEO of Jackpotjoy’s activities–has shifted to the position of Transition Director and will stay for a 12-month term on the JPJ Board.
Neil Goulden, executive chairman of Gamesys Group, said in a statement: “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 CEO Lee Fenton, are now resolutely focused on integrating the two businesses and further enhancing our product and technology offerings.”
Fenton added: “Following [the] 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 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.”