The Intertain Group Limited has completed its acquisition of the Jackpotjoy, Botemania and Starspins operations from Gamesys saying the purchase is expected to add substantial free cash flow to its business allowing it to further target the female demographic in regulated markets.
The Intertain Group paid an initial purchase price of GBP 425.8 million .
Principal shareholder, founder and managing director of Gamesys Limited, Noel Hayden has joined the board of Intertain as a non-executive director following the closing of the acquisition effectively becoming the largest shareholder of Intertain, his shares subject to a two-year lock-up period.
“I’m delighted to complete this exciting deal and become part of Intertain’s strategy to further strengthen its global position in online bingo”, Hayden said. “Both our companies share this vision and I look forward to working with Fitz and the Intertain team to maximize value for Intertain shareholders.”
John Kennedy FitzGerald, chief executive officer of Intertain added: “In addition to acquiring the world’s leading online bingo-led business, we have also entered into a long-term relationship with one of the most well respected technology and gaming operators, Gamesys.”