Canada’s Intertain Group has completed the acquisition of UK online bingo operator Mandalay Media for an initial payment of £45m.
The initial payment is exclusive of working capital adjustments, with up to a further cash payment of £15m contingent on future profit performance. Mandalay has been acquired on a debt-free basis.
“We are very excited about the acquisition of Mandalay Media, which will add substantial free cash flow to the business and enhance our current casino offering [...]
