Intertain completes £423m takeover of Gamesys' brands
Toronto-based operator has completed its acquisition on Jackpotjoy, Botemania, and Starspins from Gamesys
Intertain this morning completed its £423m acquisition of Gamesys’ Jackpotjoy, Botemania, and Starspins brands, five months after eGaming Review first revealed the two parties were in negotiations over a deal.
Intertain CEO John FitzGerald (pictured) said the firm was “very excited” about completing the acquisition and that it would “add substantial free cash flow” to the business.
“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,” FitzGerald said.
“I personally look forward to working with Noel [Hayden, Gamesys founder] and his team on our global expansion strategy, and I want to thank all of our shareholders for their ongoing support of Intertain,” he added.
Under the deal, which was officially announced in February, Gamesys will supply its platform services and gaming content to allow Intertain to run the Jackpotjoy business for a period of 10 years and 20 years respectively.
As a part of the deal, the major shareholders in Gamesys were awarded 2.4m Intertain shares, while founder and MD Noel Hayden will also join the Intertain board of directors.
Hayden said he was “delighted” to complete the deal and “become a part of Intertain’s strategy to further strengthen its global position in online bingo”.
“Both our companies share this vision and I look forward to working with Fitz and the Intertain team to maximize value for Intertain shareholders,” he added.