JPJ group has bought several assets from its partner for £490m and from today it will be known as Gamesys Group.
The brand new Gamesys group will began trading on the London Stock Exchange today, under Lee Fenton, the group’s new CEO.
Robeson Reeves is the group’s new chief operating officer and Simon Wykes wil be a transition director in the next 12 months. JPJ now owns Gamesys’ technology platform and all of its studios. Also, they will hold the ownership of a number of B2C brands such as its Gamesys’ New Jersey-licensed Virgin Casino site, operated in partnership with Tropicana. Virgins Games, Heart Bingo and Monopololy Casino brands are included in this deal.
Gamesys will retain its Virgin-branded sportsbook, the Livescore sports media and data business and several of its investments in foreign markets.
“The completion of the acquisition of Gamesys marks an important milestone for the company, creating a leading UK and international operator and offering customers an even greater choice of major brands and different games,” Neil Goulden, executive chairman of Gamesys Group and previously chairman of JPJ, said. “For shareholders, the acquisition will deliver earnings accretion in the first full financial year of ownership whilst employees will also benefit from the combination of two companies with a strong commitment to responsible gaming.
“However, the completion of the acquisition and the creation of Gamesys Group plc marks just the start, and the board and senior management team, led by chief executive officer Lee Fenton, are now resolutely focused on integrating the two businesses and further enhancing our product and technology offerings,” Goulden continued. “We are very excited about the opportunities and prospects ahead and look forward to providing further updates on the new group.”
CEO Fenton said the new company should be better able to tackle issues of scale thanks to its greater resources.
“Following today’s successful completion, I am very excited to join the enlarged group as CEO,” Fenton said. “The combination of two leading and complementary businesses has created an organisation with greater scale and capability which stands the new Gamesys Group plc in good stead as the competitive and regulatory environment continues to evolve.
“With full operational control of technology and operations, an enhanced brand portfolio and our exceptional combined talent base, we are confident that we are well positioned to create significant opportunities for future growth.”