Australian lottery group Jumbo Interactive announced that it has received approval from the Canadian provinces of Alberta and Saskatchewan to finalize its purchase of fellow lottery group Stride Management, and plans to finalize the deal by June 1st.
The approvals to finalize the purchase came from the Alberta Gaming, Liquor and Cannabis (AGLC) and Saskatchewan Liquor and Gaming Authority (SLGA), both of which serve as the respective gaming regulators for their respective provinces.
Jumbo indicated that Stride's purchase will have a not insignificant impact on the company's bottom line as they wrap up their fiscal on June 30th.
The company has been working to acquire Stride for over a year, but there were delays due to regulatory approvals needed for the deal. This is the latest for Jumbo, who purchased UK lottery group Gatherwell in 2019.
No comment from the company was available as of press time.