JPJ Group PLC announces Completion of sale of social business
Completion of sale of social business
LONDON, UK / ACCESSWIRE / September 3, 2018 / JPJ Group plc (the “Company”) ( LSE:JPJ ), a leading global online bingo-led operator, confirms today that it has completed the previously announced sale of the Group’s social business to Bagelcode. As outlined at the Group’s H1 results, the sale amounts to a cash consideration of £18.1 million.
Neil Goulden, Executive Chairman, commented: “The successful disposal of our social business enables the Group to exclusively focus on our core activity of real money gaming. Importantly, it also represents another positive step in our strategy to reduce net leverage, providing us with further optionality to create value for shareholders.”
About JPJ Group plc
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 the Jackpotjoy ( www.jackpotjoy.com ), Starspins ( www.starspins.com ), Botemania ( www.botemania.es ), Vera&John ( www.verajohn.com ), Costa ( www.costabingo.com ) and InterCasino ( www.intercasino.com ) brands. For more information about JPJ Group plc, please visit www.jpjgroup.com.
Bagelcode is a South Korean social gaming company that designs and develops games focussed on the Social Casino market. It has an established player-base in this vertical.
JPJ Group plc
Jason Holden, Director of Investor Relations
+44 (0) 203 907 4032
Amanda Brewer, Vice President of Corporate Communications
+1 416 720 8150
+44 (0) 207 251 3801
Source: JPJ Group plc