JPJ Group Plc: Jumps after proposed deal to buy Gamesys for 490 mln stg

** Shares of the bingo game Jackpotjoy owner rise 5.2% at 809p after proposed cash-and-stock deal to buy gaming co Gamesys for ~490 mln pounds

** JPJ says the deal will give the co access to Gamesys' Virgin Games, Virgin Casino, but would not include its sports brands

** JPJ says combined co to be renamed Gamesys Group plc, and should qualify for inclusion in the mid-cap index

** Co proposes appointment of Gamesys CEO Lee Fenton as group CEO

** Deal expected to be double-digit accretive in first FY after completion

** YTD, JPJ stock has risen ~27% vs peer 888's 10% fall and bigger rival GVC's >8% drop (Reporting by Yadarisa Shabong in Bengaluru)

2019-06-13 12:35:38

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