Intertain Group acquires Gamesys for $650 million

jackpotjoyCanadian online gambling operator Intertain Group announced on Thursday the acquisition of Gamesys in a deal estimated to be valued at $651 million (£426 million).

The acquisition will see Intertain Group acquire Gamesys B2C assets, which will include leading UK online bingo brand, as Intertain Group seeks to expand its presence in the online gambling market.

Intertain Group issued further insight into its acquisition terms for Gamesys, detailing that 13% of the initial payment will be funded through Gmesys being issued with 56.8 million of Intertain Group shareholdings. The operator could pay London-based Gamesys more over the next three years if it hits certain profit targets, the company said in a statement.

As part of the acquisition Gamesys CEO & Founder Noel Hayden will join Intertain Group’s Board of Directors as a Non-Executive Director.

Hayden commented on the deal “Gamesys and Intertain are a perfect match. From our earliest discussions we shared their vision which we know is critical to a successful long-term partnership. This is a great deal for Intertain and Gamesys, our shareholders, our employees and our players.”

added “This acquIntertain CEO John Fitzgeraldisition is consistent with this vision. We feel privileged to be inheriting this strong community of players.

“We have not only acquired the leading online, bingo-led business, but we are also entering into a long-term relationship with one of the most well respected, technology and gaming operators, Gamesys.”

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