The deal is set to make InterTAIN an even more powerful company.
Operator and provider Gamesys Limited, the parent company of one our best-loved brands in Britain – Gamesys Group has confirmed that it is to sell its customer facing assets for £425.8m!
Gamesys has acquired a number of online gambling brands in different countries, including Jackpotjoy from the UK and Sweden. They also own Starspins Casino brand which operates only on Spanish-facing websites as well as Botemania espanolafacing bingo site that features live games with cash prizes for winners!
The companies have entered into a ten-year services partnership, with the transactions structured so as to ensure alignments of interests for both parties.
Intertain has agreed to purchase 100% of the issued and outstanding shares in a newly-incorporated subsidiary, which will hold all brands associated with Jackpotjoy’s business.
Intertain CEO John Fitzgerald said, “Our stated vision is to focus on the female demographic. With this acquisition we continue in that direction and are proud of our reputation for providing quality products designed specifically with women’s needs.”
“This is a exciting time to be alive. We’re all in this together, and I know that each of my fellow competitors feels the same way.”
“The acquisition of this well-respected business will not only allow us to enter the market with an already established brand, but it also gives our company access into a long term relationship.”
Gamesys has issued £56.8m worth of shares to finance the purchase price for Inumerable, which will be paid in part with cash and partly through issuing common stock that is listed on exchange markets.?
The company’s management plans on using this money wisely by investing it into their business operations so they can grow at reasonable rates while still remaining profitable throughout all stages!
Payments will continue to be made in the third and fifth years of this contract, subject to financial milestones.
Gamesys founder and CEO Noel Hayden said, “I’m excited about the opportunity to join Intertain’s board of directors.”
He continued: ‘We’ve been looking for a home since we sold our last company over ten years ago. It feels like this might be it!’
“It’s not every day you get to bring home a major win, but I think our team might have done just that with this acquisition. Our shareholders are getting some great value out of it while also keeping their jobs and maintaining existing benefits which is really important for them.”
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