Jackpot Joy that truly unique British Games institution has gotten sold to a Canadian Games company.
Canadian Gambling Buy Ups
Well if it is good enough for the National Lottery, then we suppose it should be good enough for Jackpot Joy.
The National Lottery gets managed by a group that is owned by Canadian Investors, we can now add Jackpot Joy and its various Casino and Slot products to that list.
Does that mean Babs is Queen of Canadian Bingo?
In an earlier article, we went over the fact that Intertain who seem very well-funded were looking to acquire gaming products around the Billion Canadian Dollar mark.
That left very few Bingo and Slots operators around that command that type of fee. Jackpot Joy, therefore, popped up on our radar and so it has proven to be.
Jackpot Joy Sale Price
According to reports, Intertain has purchased Jackpot Joy for a sum of eight hundred and thirteen million Canadian dollars. That is a lot of zeroes in a bank account.
For those who do not deal in Canadian dollars, it essentially means that payment of £425 Million will pass hands for this gaming site.
Also, a further £15 Million is payable depending on targets met, and shares will get allocated in the Intertain Group.
The fact that Intertain has now purchased both Jackpot Joy, as well as Costa Bingo, make them a force to deal with in the UK Bingo industry.
What really will be a test of the new Jackpot Joy owning companies’ mettle, will be its ability to gain and increase player value over their lifetime.
Publicly traded gambling companies have fared poorly in recent years in this regard. One does not have to look too far to see examples of falling share prices and restructuring.
On the other hand, the UK Online Bingo market is a regulated and maturing scene. It is a boon to those of us who would invest in these ventures. That, however, is another kind of gamble entirely.
It is not yet clear as to what will happen to Gamesys who is the controlling company and developer of Jackpot Joy Games.
At present, it appears to be the case that the company that makes the games has not been included in the deal to sell off Jackpot Joy.
What this Means for UK Bingo Players
What this means for Bingo players is that there will be less choice and less competition in the market. There is sure to be a consolidation of bingo bonuses and promotions in our opinion.
UK Bingo players are fortunate though, we say this as even if the above does occur, the UK Bingo scene is an ultra-competitive market and others will take an opportunity to launch bingo bonuses and offers that please bingo players.
Anyone care for some Maple syrup with their Online Bingo games this morning?