Completion of Sale of Social Business

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Completion of Sale of Social Business



London, England (FSCwire) - 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.

 

About Bagelcode

 

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.

 

Enquiries:

 

JPJ Group plc

Jason Holden, Director of Investor Relations

+44 (0) 203 907 4032

[email protected]

 

Amanda Brewer, Vice President of Corporate Communications

+1 416 720 8150

[email protected]

 

Finsbury

James Leviton

Andy Parnis

+44 (0) 207 251 3801

[email protected]

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.





To view the original release, please click here



Source: JPJ Group plc (LSE:JPJ, OTC Pink:JKPTF)

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