15th Dec 2017 07:15
Jackpotjoy Group signs ten year framework services agreement
with Gaming Realms
London (UK) 15 December 2017 - Jackpotjoy plc (LSE:JPJ), the largest online bingo-led operator in the world, is pleased to announce that the Jackpotjoy Group (the "Jackpotjoy Group") has entered into a ten year framework services agreement with Gaming Realms plc. Under the agreement, the Jackpotjoy Group will receive various real money services on favoured terms, including "Slingo Originals" content. As services are requested by the Jackpotjoy Group, the parties will negotiate and enter into relevant call-off contracts. In addition, the parties have entered into a separate agreement for the provision of JackpotHappy.com, a white label site on the Gaming Realms proprietary platform.
The Jackpotjoy Group has also entered into a secured convertible loan agreement with Gaming Realms totalling £3.5 million. The convertible loan has a duration of five years and will carry interest at 3 month LIBOR plus 5.5%, and will be secured over Gaming Realms' Slingo assets and business. At any time after the first year, the Jackpotjoy Group may elect to convert all or part of the principal amount of the convertible loan into ordinary shares of Gaming Realms.
About Jackpotjoy plc
Jackpotjoy plc is the parent company of an online gaming group that provides entertainment to a global consumer base through its subsidiaries. Jackpotjoy plc currently offers bingo and casino games to its customers through its subsidiaries using the InterCasino (www.intercasino.com), Costa (www.costabingo.com), Vera&John (www.verajohn.com), Jackpotjoy (www.jackpotjoy.com), Starspins (www.starspins.com) and Botemania (www.botemania.es) brands. For more information about Jackpotjoy plc, please visit www.jackpotjoyplc.com.
Enquiries:
Jackpotjoy plc
Jason Holden, Director of Investor Relations
+44 (0) 203 907 4032
+44 (0) 7812 142118
Jackpotjoy Group
Amanda Brewer, Vice President of Corporate Communications
+1 416 720-8150
Finsbury
James Leviton
Andy Parnis
+44 (0) 207 251 3801
Cautionary Note Regarding Forward-Looking Information
This release contains certain information and statements that may constitute "forward-looking information" within the meaning of applicable securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "estimates", "projects", "predicts", "targets", "seeks", "intends", "anticipates", "believes" or "is confident of" or the negative of such words or other variations of or synonyms for such words, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, achievements or developments to be materially different from those anticipated by the Jackpotjoy Group and expressed or implied by the forward-looking statements. Forward-looking information contained in this release includes, but is not limited to, statements with respect to the offering of "Slingo Originals" content and any call off contracts to be entered into by the parties in connection with the framework services agreement for the receipt by the Jackpotjoy Group of real money services from Gaming Realms. These statements reflect the Jackpotjoy Group's current expectations related to future events or its future results, performance, achievements or developments, and future trends affecting the Jackpotjoy Group. All such statements, other than statements of historical fact, are forward-looking information. Such forward-looking information is based on a number of assumptions which may prove to be incorrect, including, but not limited to, the ability of the Jackpotjoy Group to secure, maintain and comply with all required licenses, permits and certifications to carry out business in the jurisdictions in which it currently operates or intends to operate; governmental and regulatory actions, including the introduction of new laws or changes in laws (or the interpretation thereof) related to online gaming; general business, economic and market conditions (including market growth rates and the withdrawal of the UK from the European Union); the Jackpotjoy Group operating in foreign jurisdictions, the competitive environment; the expected growth of the online gaming market and potential new market opportunities; anticipated and unanticipated costs; the protection of the Jackpotjoy Group's intellectual property rights; the Jackpotjoy Group's ability to successfully integrate and realise the benefits of its completed acquisitions; the amount of expected earn-out payments required to be made; the Jackpotjoy Group's continued relationship with the Gamesys group and other third parties; the Jackpotjoy Group's ability to service its debt obligations; and the ability of the Jackpotjoy Group to obtain additional financing, if, as and when required. Such statements could also be materially affected by risks relating to the lack of available and qualified personnel or management; stock market volatility; taxation policies; competition; foreign operations; the Jackpotjoy Group's limited operating history; and the Jackpotjoy Group's ability to access sufficient capital from internal or external sources. The foregoing risk factors are not intended to represent a complete list of factors that could affect the Jackpotjoy Group. Additional risk factors are discussed in Jackpotjoy plc's annual information form dated 29 March 2017. Although Jackpotjoy plc has attempted to identify important factors that could cause actual results, performance, achievements or developments to differ materially from those described in forward-looking statements, there may be other factors that cause actual results, performance, achievements or developments not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results, performance, achievement or developments are likely to differ, and may differ materially, from those expressed in or implied by the forward-looking information contained in this release. Accordingly, readers should not place undue reliance on forward-looking information. While subsequent events and developments may cause the Jackpotjoy Group's expectations, estimates and views to change, Jackpotjoy plc does not undertake or assume any obligation to update or revise any forward-looking information, except as required by applicable securities laws. The forward-looking information contained in this release should not be relied upon as representing the Jackpotjoy Group's expectations, estimates and views as of any date subsequent to the date of this release. The forward looking information contained in this release is expressly qualified by this cautionary statement. Investors should not place undue reliance on forward-looking statements as the plans, intentions or expectations upon which they are based might not occur.
Related Shares:
GYS.L