Jumbo completes Dream Giveaway acquisition for US market entry
Jumbo Interactive completed its acquisition of US prize draw operator Dream Giveaway on 30 October, at an enterprise value of $55.4m. The transaction was funded with $20.9m in existing cash and $36.9m in debt; customary completion adjustments brought upfront cash consideration to $57.8m. Jumbo said Dream Giveaway's management team will remain in place.
The acquisition gives Jumbo a US prize draw operation, funded with existing cash and debt, while Dream Giveaway’s management remains.