Intertain concludes Gamesys acquisition
Operator Intertain Group has announced the completion of its £425.8m acquisition of provider and operator Gamesys Group’s customer-facing assets.
Gamesys’ Jackpotjoy online bingo brands in the UK and Sweden, casino brand Starspins.com and Spanish-facing casino brand Botemania.es are all included in the deal, which was first announced in February.
Intertain has entered a binding share purchase agreement with Gamesys to acquire a newly-incorporated subsidiary of Gamesys, which holds all of the brands and player data assets within the Jackpotjoy business.
Intertain CEO John Kennedy FitzGerald said: “We are very excited about the completion of the Jackpotjoy acquisition, which is expected to add substantial free cash flow to our business and allow Intertain to further target the female demographic in regulated markets.”
Gamesys founder, principal shareholder and managing director Noel Hayden will join Intertain’s board of directors as a non-executive director and will become Intertain’s largest individual shareholder.
Hayden said: “I’m delighted to complete this exciting deal and become part of Intertain’s strategy to further strengthen its global position in online bingo.
“Both our companies share this vision and I look forward to working with Fitz and the Intertain team to maximise value for Intertain shareholders.”
Intertain announced last month that it generated revenue of C$40.8m in 2014 and made a net loss of C$26.1m.
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