JPJ Group completes £490m acquisition of Gamesys

JPJ Group has completed its £490m takeover of Gamesys, the operator has confirmed.

Following completion of the multi-million-pound deal, JPJ Group has ceased trading on the London Stock Exchange (LSE) with the combined entity continuing to operate under the name Gamesys Group going forward.

The operator has made an application to the LSE to admit 10,8127,524 ordinary shares for trading on the main market for listed securities, comprising of 74,473,678 existing shares in JPJ Group and 33,653,846 new shares issued as part of the takeover deal.

Neil Goulden, executive chair of the Gamesys Group, said the acquisition was an important milestone for the company, tipping it to deliver earnings accretion for shareholders over the next 12 months.

“We are very excited about the opportunities and prospects ahead and look forward to providing further updates on the new Group,” Goulden added.

In addition to confirming the completion and name change, the company confirmed the appointment of Lee Fenton as Gamesys Group CEO and Robeson Reeves as COO.

Former JPJ Group CEO Simon Wykes moves to the role of transition director for the next 12 months and will oversee a transition committee charged with ensuring the integration of the two businesses.

The six-member integration committee, which is made up of C-level executives from the business, will also be responsible for monitoring integration progress with the operational managers who report directly to them.

Gamesys Group CEO Lee Fenton said the combination of the two complementary businesses has created an organisation with “greater scale and capability” to deal with the increasingly competitive egaming market.

“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,” Fenton added.