The Intertain Group Ltd. announced they’ll be entering into a non-binding LOI (letter of intent) to acquire the world famous Vera&John online casino, in a deal that promises to reach up to 89.1 million.
Vera&John, a member of Dumarca Holdings Ltd., is one of the largest online casinos in the world, with presences in 11 countries, available in 15 languages, and holding over 800 games in their platform.
The 89.1 million deal, which may finally be completed by December 2014, will include the acquisition of the entire V&J platform, its full casino offers, the licenses for the 11 countries they’re currently present, the gaming platform and their full customer database of 490,000 registered customers.
By acquiring Vera&John, the Intertain Group Ltd. are reasserting their position as one of the largest gaming companies in the world, being the owners of InterCasino, InterPoker, Rio Bingo, Costa Bingo, Casino Choice, among many others, and now adding Vera&John to their long list of online sites.
John Kennedy FitzGerald, CEO of Intertain, commented on the acquisition:
Vera&John provides immediate accretion and meaningful operating cash flow to our business and gives us access to the growing Nordic markets […] Vera&John also has a mobile platform, including a leading mobile casino, with 35% of their expected 2014 sales being generated through this growing medium
Vera&John have surprised their players more than once by delivering multipleÂ free spin and guaranteedÂ winningÂ campaigns. They generate approximately 75% of their sales from the Norwegian, Swedish and Finnish markets, and have increased their total net gaming revenues by 124% since 2012.
In 2013, Vera&John generated 4.6 million in pre-tax profits, with an average of 10,000 deposits per day, and reaching an all-time high of 1 billion real-money spins so far in 2014. Dan Anderson, director of Dumarca Holdings Ltd. commented:
We are very excited about this transaction and feel both parties bring excellent value going forward
Business will continue as usual at Vera&John, so players can carry on enjoying this site without any worries. This acquisition will only add further gaming content to their already large database, as well as more security and growth into new markets.