25 June 2019
- Simon Thomas, Steven Fox, James Koessler, Phoebe Richardson, Olivia Higgs, Nelson Jung, Fiona Garside, Deepaloke Chatterjee
Clifford Chance advises JPJ Group plc on its £490 million strategic combination with Gamesys to create a world-class online gaming company
Leading international law firm Clifford Chance has advised long-standing client JPJ Group plc on its proposed £490 million strategic combination with Gamesys. The acquisition, which excludes Gamesys' sports brands and games, will be paid for with a mixture of cash and new shares in JPJ.
The transaction will create a leading UK and international online gaming operator with genuine scale, combining JPJ’s strong portfolio of bingo and casino brands, including Jackpotjoy and Starspins in the UK and Botemania in Spain, with Gamesys’s proprietary technology and branded sites, including Virgin Games, Monopoly Casino and Heart Bingo in the UK and Virgin Casino in New Jersey, USA.
JPJ has been working in partnership with Gamesys for over four years, following the acquisition by JPJ of the Jackpotjoy, Starspins and Botemania brands from Gamesys in April 2015 and the related entry into a long-term agreement pursuant to which Gamesys provides platform services and gaming content to JPJ.
Clifford Chance's relationship with JPJ dates back to 2016/17 when it advised on the re-domiciliation of The Intertain Group Limited (which was subsequently renamed JPJ Group plc) from Canada to the UK and its London standard listing. In June 2018, the firm advised JPJ on its step-up from a standard listing to a premium listing in London. In addition, since 2017, the firm has provided JPJ with ongoing corporate advice.
The Clifford Chance team was led by partners Simon Thomas (ECM) and Steven Fox (M&A), alongside senior associate James Koessler (ECM), associates Phoebe Richardson (ECM) and Olivia Higgs (M&A), and trainees Lisa Fogarty and Harriet Harper (both ECM). Anti-trust partner Nelson Jung led a team comprising Fiona Garside and Deepaloke Chatterjee.