Published on 10 October 2014 by Rhi
It has just been announced that the online gaming holding company Intertain Group has signed a non-binding letter of intent to acquire Vera & John casino. The deal is expected to complete as early as December this year, for a whopping €89 million! The payment will be split between €44.5 million in cash and €36.5 in common shares.
Intertain is a holding company for online gaming and currently has a number of operating subsidiaries offering casino, bingo and poker games to customers, one such existing brand being Costa Bingo. Now, they’re adding Nordic giant Vera & John to their portfolio.
Intertain has been in operation for 18 years and just one of their sites attracts 9000 customers per day! This is going to increase dramatically once the deal with Vera & John completes in December.
Intertain currently have over 3 million registered customer across their brands, so are clearly already huge in their field and set to grow even more.
This is an incredibly exciting move for both companies involved. Netent casino, Vera & John are relative newbies to the online casino world, having launched in 2011, however the team behind them hold a wealth of experience in the industry. Because of their knowledge and passion, they grew incredibly rapidly and soon became one of the largest names in online gaming, operating in 11 different countries, but with the Nordics making up 75% of their business.