Jackpotjoy agrees long-term deal with Gaming Realms
Jackpotjoy Group has signed a 10-year framework services agreement with London-based games developer Gaming Realms.
Under the agreement, Jackpotjoy – whose brands include its flagship bingo platform as well as Starspins, Botemania, Vera&John, Costa Bingo and InterCasino – will receive various real money services on favoured terms for the next decade.
The deal incorporates content from Gaming Realms subsidiary ‘Slingo Originals’, which already provides its mobile-focused games to Electronic Arts, IGT, Scientific Games and Zynga, Inc.
As services are requested by the Jackpotjoy, the parties will negotiate and enter into relevant call-off contracts. In addition, the parties have entered into a separate agreement for the provision of JackpotHappy.com, a white label site on the Gaming Realms proprietary platform.
Additionally, Jackpotjoy has also entered into a secured convertible loan agreement with Gaming Realms totalling £3.5m.
The convertible loan has a duration of five years. At any time after the first year, Jackpotjoy may elect to convert all or part of the principal amount of the convertible loan into ordinary shares of Gaming Realms.
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