12th of July 2018 Author: Alex Hoffmann
A leading global operator in the online bingo vertical, Jackpotjoy plc, has announced that the final payment for Botemania, popular Spanish hub for online betting, has been made. Since the entire purchase contract is estimated at £63.5 million, the acquisition deal started months earlier, as reimbursement needed to be met by cash resources. The acquisition is now considered complete and it represents the company's first milestone payment for another iGaming brand.
Executive chairman at JPJ Group plc, Neil Goulden, is pleased that the company has paid the final instalment for Botemania, whose performance has strongly been measured before the initial acquisition in 2015. Goulden also pointed out that the group purchased the Spanish business from existing cash resources, which implicates strong cashflow and financial strength.
The Spanish operator represents one of the leading venues for online gaming in the country, offering categories such as bingo, slots, casino, scratch cards and so on. The brand is easily recognizable due to its advanced promotional campaigns and exclusive welcome offers with cashbacks, loyalty points and regular treats. The site is primarily optimized for Spanish players and it is powered by leading software companies such as IGT, Blueprint, WMS, Gamesys and Barcrest.
On the other hand, Jackpotjoy covers an entire network of sites for online betting, including Starspins, Costa Bingo, Vera & John and others. The brand recently changed its name to "Final earn-out payment made for Botemania brands". JPJ Group. June 18, 2018.
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One of the fastest-spreading operators in the industry...let's hope the purchase pays off.
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