JPJ Group Finalises Gamesys Acquisition
JackpotJoy owner JPJ Group has completed its £490 million acquisition of various assets belonging to long-term tech partner and supplier Gamesys, and will going forward trade on the London Stock Exchange as the Gamesys Group. Lee Fenton will be stationed at the helm of the new entity and will assume the role of Group Chief Executive Officer. Fenton held down the very same position at Gamesys before the commencement or conclusion of the acquisition.
Simon Wykes, who previously served in the role of CEO at JPJ’s JackpotJoy Operations subsidiary, will chair the position of Chief Operating Officer. Wykes will essentially be managing the integration of the two businesses under the scope and operations of the new combined effort.
Gamesys To Retain Some Entities
The acquisition sees JackpotJoy acquiring various ad-on operations as part of the acquisition deal, including a number of B2C brands. One of the more prominent operations primed to serve the new combined effort profitably effective is Gamesys’ New Jersey-licensed Virgin Casino site. The online casino brand is highly popular and is operated in partnership with Tropicana. UK-based Virgin Games, Monopoly Casinos and Heart Bingo are all part of the acquired package too.
It’s been confirmed that Gamesys will however hold on to its branded sports book, launched last year in New Jersey. Its Livescore sports book will therefore remain under the umbrella of its own management and ownership structure. Livescore is a full-on media and date business and supplier. In addition to Livescore, Gamesys will also hold on to its non-Bingo studio as well as equity investments held in a Norwegian games studio as well as a United States bookmaker.
Building On Existing Success
Creating a leading national and UK operator is at the heart of the acquisition and all of what is currently happening within the ranks of JPJ is a true milestone being realised, according to Gamesys Executive Chairman Neil Goulden. Shareholders will benefit largely in terms of the value of shares and employees will benefit from the combined operational scope of the combined business endeavours.
The JackpotJoy brand originally belonged to Gamesys and was acquired from the latter by the JPJ Group in 2015. Gamesys then, following the initial JackpotJoy acquisition deal, then continued to provide tech and platform management services to JPJ. The completion of the acquisition deal is very much the coming together of a successful working relationship turned major business venture.