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Intertain ties in Gamesys with five-year operating extension

7th September 2016 7:39 am GMT

Online bingo operator Intertain Group has agreed additional non-compete covenants and amendments to its long-term operating agreement with Gamesys, ahead of its admission to the London Stock Exchange next month.

The amendments are contingent on Intertain making a pre-payment of £150m to Gamesys in respect of the company’s earn-out obligations in connection with the Jackpotjoy and Starspins brands.

Intertain currently expects that the earn-out will exceed the amount of the pre-payment, with the remaining balance to be paid in due course [...]

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