The Stars Group sells entire shareholding in Jackpotjoy

According to news reports on Wednesday, the group was “exploring the opportunity” to sell half of its stake in the business, which represented over 2,800,000 shares.

However following substantial investor demand, The Stars Group took the decision to sell its entire stake in the business, representing 5,561,666 shares or approximately 7.5% of JackpotJoy’s total issued share capital at a price of 802.00 pence per share.

The share sale will net The Stars Group gross proceeds of £45m and is their second share sale in a week following its decision to sell 7,021,352 shares and preference warrants in fellow gaming company NYX Gaming Group for an estimated $40m.

As a result of the share sale, the price of Jackpotjoy shares decreased by 4.6%, trading at 823.31p per share on Thursday morning.

Neither The Stars Group nor the investment firm handling the share sale, Macquarie Capital (Europe) Limited have chosen to comment on the disposal.

Stay updated with GI

Follow Gambling Insider for independent news, analysis and industry expertise.

Add as a preferred source on Google

Robert Simmons

Gambling Writer

Robert Simmons served as a writer for Gambling Insider, where he was an active contributor from 2017 until 2018. Throughout his tenure, Robert executed in-depth market research and wrote over 500 news and press-release articles covering the global gambling industry under strict editorial standards and tight deadlines. He contributed editorial support to the production of five 100+ page Gambling Insider magazines, eight 25+ page Trafficology magazines, and five 25+ page special print focus editions. In addition, he produced 30 in-depth feature articles for print, secured over 30 contributions from external writers, and built long-standing professional relationships with industry stakeholders across all levels of the gambling sector.

Visit Profile