LONDON, UK / ACCESSWIRE / June 18, 2018 / Jackpotjoy plc (LSE:JPJ), a leading global online bingo-led operator, is pleased to announce it has made the final earn-out payment for Botemania, its Spanish business within the Jackpotjoy division. This final payment as well as a first milestone payment amounted to £63.5m and has been comfortably met by existing cash resources.
The Jackpotjoy segment, which includes the Jackpotjoy, Starspins and Botemania brands, was acquired from Gamesys Limited in April 2015 with further earn-out payments dependent on the future operating success of the business. Jackpotjoy plc ("The Group") completed its earn-out payments for the Jackpotjoy and Starspins brands on 22 June 2017 and today's payment represents the final instalment for the Botemania brand.
The Group may make two small final milestone payments of no more than £10m in aggregate should the Jackpotjoy brands attain certain EBIT targets for the 12 months ending March 2019 and March 2020.
Neil Goulden, Executive Chairman of Jackpotjoy plc, said: "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."
About Jackpotjoy plc
Jackpotjoy plc is the parent company of an online gaming group that provides entertainment to a global consumer base through its subsidiaries. Jackpotjoy 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 Jackpotjoy plc, please visit www.jackpotjoyplc.com.
Enquiries:
Jackpotjoy plc
Jason Holden, Director of Investor Relations
+44 (0) 203 907 4032
+44 (0) 7812 142118
jason.holden@jpj.com
Jackpotjoy Group
Amanda Brewer, Vice President of Corporate Communications
+1 416 720 8150
amanda.brewer@jpj.com
Finsbury
James Leviton
Andy Parnis
+44 (0) 207 251 3801
jackpotjoy@finsbury.com
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SOURCE: Jackpotjoy plc
