JPJ Group has completed its £490m acquisition of Gamesys, with the new entity to be known as Gamesys Group and led by CEO Lee Fenton.
The deal, which includes Virgin Games, Virgin Casino, Monopoly Casino and Heart Bingo but not sports brands and games, was originally announced in June. JPJ (formerly Jackpotjoy) is paying £250m in cash as well as a further £240m in new shares.
The company has a new website at www.gamesysgroup.com and trades under its new name on the London Stock Exchange as of today.
Board changes that have been made include Simon Wykes moving to the role of transition director, where he will remain for a 12-month tenure, while Fenton has moved in as CEO and Robeson Reeves as COO.
Neil Goulden, executive chairman of Gamesys Group, said: "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.
“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 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. We are very excited about the opportunities and prospects ahead and look forward to providing further updates on the new group."
