Jackpotjoy owner JPJ into buy bingo software provider GamesysReuters #Million_Pounds

Jackpotjoy owner JPJ into buy bingo software provider GamesysReuters #Million_Pounds

July 14, 2019 0 By NewsTakers

(Reuters) – Jackpotjoy owner JPJ Group said on Thursday it agreed to buy bingo software developer Gamesys for about $621.1 million, to cut its reliance on third-party technology platforms and tap into Gamesys’ brands to boost international growth.
JPJ Group said the combined company would be renamed as Gamesys Group Plc and should qualify to be a part of FTSE mid cap index.
JPJ Group shares were up 5.2% at 809 pence by 0940 GMT.
Gamesys’ Virgin Bet branded sports betting business, Livescore sports data and media business and certain non-bingo games studio and supply business of Gamesys are not part of the deal, JPJ said in a statement.
However, JPJ will buy games content and brand licenses of Virgin Games, Virgin Casino, Monopoly Casino, and Heart Bingo.
JPJ said the acquisition is expected to add double-digits to its earnings per share in the first full financial year ownership in fiscal year 2020.
JPJ will fund the deal through 250 million pounds in cash, of which 175 million pounds would be from JPJ’s existing debt facilities, and 240 million pounds through new shares.
JPJ also expects annualized cost savings of “single digit millions” pounds in the first full financial year after completion of the deal.
Reporting by Sangameswaran S in Bengaluru; editing by Gopakumar Warrier

Adult spanking is a curious thing. I mean, most of us did not like being spanked as children. We dreaded spankings, didn’t we? So, why do so many of us long to be spanked as adults. I think for some of us, it is for sexual pleasure. For others, it is to meet an emotional need. Maybe we feel we deserve it before we enjoy fucking. Some parts of society make women feel we are bad if we enjoy being fucked. So, maybe we feel better about our longing if we are punished first. I will tell you why I want you to spank me.

Source link