JackpotJoy Completes Purchase of Botemania

This story was published more than 2 years ago.

Internet betting company Jackpotjoy has announced that they've made their final earnout payment to complete the purchase of Botemania, doling out £63.5 million in the process.

The companies agreed to a purchase in 2015 and has seen Botemania serving as the company's Spanish operation. The payout now completes the last payout to completely finalize the purchase, as the company met financial performance to earn the bonus. The company has been performing admirably since integration, helping the company grow its revenues.

Commenting on the payout Jackpotjoy Executive Chairman Neil Goulden said, "I am pleased that Jackpotjoy Group has paid the final installment 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."

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About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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bgsharpe
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20 June 2018 - 12:09pm
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So JackpotJoy finalized that deal at last and now could only benefit from it I think cause as we know even a already a huge one the Spanish market has still much room for improvement.