Intertain VeraJohn Merger

Intertain Finalises Vera and John Purchase

Intertain finished 2014 having successfully negotiated several expansions. Earlier in 2014 they bought Amaya Gaming Group which was quickly followed up by the purchase of bingo website owner Mandalay Media. Finally, they snapped up Dumarca Holdings plc, a company based in Malta that owned rival online site Vera&John Group.

The transaction gave Intertain greater access to the Nordic market, including the growing number of players there.

Intertain, which is based in Toronto, agreed to pay a cash sum of $54.5m (US) to exclude working capital adjustments and some five million shares in the parent company. There remains the possibility that Intertain will have to pay out more cash if Vera&John generate pre-EBITDA earnings in 2015 through to the end of 2016 that exceeds a certain threshold.

In early 2014, Intertain went public following the purchase of InterCasino from Amaya Gaming Group Inc. In June that year, they expanded again when they acquired Mandalay Media Ltd for $100.4 million, a British online bingo company.

Intertain first announced the deal to buy Dumarca in October 2014.