888 Holdings acquires JPJ Group’s brands
The company has completed a deal announced back in February and will take over a number of bingo assets.
UK.- JPJ has announced it has completed the sale of its Mandalay operating business to a subsidiary of 888 Holdings plc for €21 million. Back in February, JPJ Group and 888 Holdings agreed on a deal to see the latter acquire a number of brands from the online bingo-led operator.
As previously outlined by the companies, €14 million of the cash consideration has been received by the Group on completion, with the remaining €7 million to be paid in September 2019.
“The group continues to deliver its stated strategy of expanding across global regulated markets,” Chief Executive Itai Pazner had stated last month and added: “Having been developed on Dragonfish, the group’s first-class B2B platform, we are confident that consolidating these brands into our existing B2C portfolio will deliver synergies and growth opportunities by applying the full extent of 888’s core capabilities in product, marketing and customer relationship management to their operations.”
JPJ Group plc is the parent company of an online gaming group that provides entertainment to a global consumer base through its subsidiaries. JPJ Group plc currently offers bingo and casino games to its customers through its subsidiaries using several brands.
