The online bingo operator, which came to AIM last May, today announced deals that see it increase its share of the UK bingo market by 50%. It is buying assets and brands from Tarco Limited for up to £40.2mln and is paying £30mln for 8Ball Games Limited.
A £27mln share placing, priced at 225p, is expected to support these deals.
Boyd, in an interview with Proactive Investors, dismissed investor concerns about the group’s acquisitive approach.
“We did come to the market with the attention to grow not only organically but by acquisition and use the scale, expertise and software know-how to increase the margins,” he said.
“You have to be a big player today.”