Jackpot Joy completes offload of social gaming business

Jackpot Joy group owners JPJ Group has confirmed reports last month regarding the sale of its social gaming  business, revealing Tuesday that the South Korean games development group Bagelcode paid GBP 18.1 billion for the asset in a cash deal.

As a developer of mobile gaming applications, Bagelcode designs casino-style social games for Android and iOS devices.

In a statement, JPJ executive chairman Neil Goulden said: “The successful disposal of our social business enables the Group to exclusively focus on our core activity of real money gaming. Importantly, it also represents another positive step in our strategy to reduce net leverage, providing us with further optionality to create value for shareholders.”

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