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Intertain Buys Bingo Site

Toronto-based online gaming holding company Intertain Group Ltd. announced it has purchased internet gaming businesses from Gamesys Ltd. in a deal Intertain executives say make the company the industry’s largest provider of online bingo.

Intertain will pay at least £425.8 million (US$653 million) in cash and shares for several bingo websites, including Jackpotjoy, and slot site Real-Money Starspins. Under the agreement, Gamesys will receive bonuses for reaching profit targets over the next three years.

“Our stated vision is to focus on the female demographic, in regulated markets,” John Kennedy FitzGerald, chief executive officer of Intertain, said in a statement. “This acquisition is consistent with this vision.”