The international holding Intertain Group announced its acquisition of Vera & John Casino. The deal is for $126 million and is still in the first stages. There is a number of conditions yet to be met. The payment for the acquisition was separated in around €36.5 million worth of common shares and €44.5 million in cash. The current users of the Vera & John Casino will benefit from the new features and games that Intertain Group will bring to the platform.
Intertain Group
International holding Intertain Group has a lot of experience and over the last 18 years, it has grown into a company with over nine thousand unique visitors per day. The amount of registered users on all Intertain websites is more than 3 million. The company is known for providing high-quality entertainment choices to international customers through its platforms: Costa, InterCasino and InterPoker, which are maintained by the Amaya Gaming Group. Some of its products include casino, poker and bingo games, which operate with Dragonfish platform by 888 Holdings Inc.
Dan Anderson added that Dumarca Holdings Limited is delighted about the deal, and he also said that Intertain is the best possible partner, having in mind that both parties have similar interests as well as very good growth prospects.
Future Expectations
The new management of the Vera & John website ensured its customers that there will only be positive changes concerning the way the platform operates.
Impressive Growth and Financial Reports by Vera & John
On the other side of the deal, Vera & John shows impressive financial reports. The company has a fully integrated online casino platform which serves eleven countries around the world. Its main products are Vera & John, Vera & Juan and Vera & John Social.
Its main platform, Vera & John brings a third of all its profits from the Nordic markets. The online casino offers the impressive number of 800 games played by close to 500,000 users. Vera & John has hired a number of respected online game development companies such as Amaya, NetEnt and Microgaming. In 2014, the company reported $1 billion worth of real money spins. The growth of the company from 2012 to 2013 reached the impressive 124%.
When completed, the acquisition will combine together some of the economic features of the two companies. Some of these features are: the steady annual growth of Vera & John by 36% since 2003; an average win rate of €350 for users compared to the €137 average for other platforms; transfer of 103 employees from Vera & John, including high management staff. The CEO of Intertain added that “Vera & John provides immediate accretion and meaningful operating cash flow to our business and gives us access to the growing Nordic markets.”
According to a research carried out by Intertain, the future expansion and growth of the online gambling industry in the Nordic markets will pay back the initial investment for the acquisition of Vera & John.
