Jackpotjoy PLC Makes Final Acquisition Payment for its Spanish Bingo Sector
Jackpotjoy plc, one of the top leading operators in the online bingo industry, announced its final payout for the acquisition of the Spanish Bingo business, Botemania. The acquisition deal took place some time ago and is now considered complete with the final earn-out payment made. Jackpotjoy is one of the biggest names in the bingo industry with it hosting several brands including Starspins, Jackpotjoy and now Botemania.
The final payment was not only the final payment, but a milestone payment as well for the operator. The payment amounted to GBP 63.5 million and was satisfied by cash resources. Jackpotjoy was acquired from Gamesys Limited three years ago. The three above-mentioned brands were transitioned as soon as the acquisition deals were complete.
Neil Goulden, Executive Chairman for Jackpotjoy plc released the following comment regarding the final earn-out payment,
“I am pleased that Jackpotjoy Group has paid the final instalment relating to the earn-out of our Spanish business, Botemania, which has performed strongly since it was acquired in 2015. The earn-out payment has been made comfortably from existing cash resources, highlighting our strong free cashflow generation and the strength of our balance sheet.”