Vera&John Casino possibly sold to Intertain Group

Discussion in 'Gambling News' started by Marina, Oct 18, 2014.

  1. Marina

    Marina Administrator Staff Member

    Another Internet Gambling Company to Change Hands

    Remote casino aficionados and investors everywhere were floored by the news of another company’s possible change of hands. Recently, Intertain Group,
    parent company of Intercasino and Interpoker, submitted a letter of intent to acquire Dumarca Holdings Limited, parent company of Vera&John.

    Although nothing is set in stone yet, this could be great news all around. Investors certainly seem to think so, as Intertain’s share prices soared, when word spread of the impending buy.

    Intertain Group

    Under its current moniker, Intertainis a newer company, yet it has an incredibly complex past. It’s a Canadian outfit, born of a February 2014 reverse-merger between Aumento Capital II Corporation
    and Goldstar Acquisitionco Inc. At the time, both entities were relatively young. Aumento was founded in 2010 and had focused on acquiring businessesin numerous industries. Goldstar was truly a baby,
    having been incorporated just months before, in September 2013, with the express intent of purchasing all outstanding shares of a company called WagerLogic. The history takes a further twist, as WagerLogic
    was a subsidiary of CryptoLogic, which was owned by none other than the online casino giant, Amaya Gaming. Amaya reportedly had little interest in business-to-consumer (B2C) transactions and wanted to
    focus on business-to-business (B2B) dealings. So, as Aumento and Goldstar joined forces, they took over WagerLogic as well. Along with it, they received the company’s highly-popular sites, InterPoker and
    InterCasino. Just a few short months later, in June 2014, Intertain also picked up Mandalay Media. This gave the conglomerate control of some of the UK’s hottest bingo sites, such as City Bingo, Fancy Bingo,
    Rio Bingo, Sing Bingo, and, most notably, Costa Bingo. The corporate website indicates that their intention is to grow their gaming product portfolio quickly, through the acquisition of established companies.

    Dumarca Holdings Limited


    Also a relatively young company, Dumarca is the parent of Vera& John, and was formed in 2011. The Malta-based casinos serve 11 countries around the globe, under the aforementioned name,
    as well as Vera& Juan, Vera& John Social and Finlandia Casino. They serve their members over 700 games, from many of the top software developers like NetEnt, IGT, BetSoft, and Next Gen.
    They also boast an astounding 490,000 registered members across their various sites and have operations that run on both desktop and mobile devices. Approximately 75-percent of the company’s
    reported 2013 25.9 million-euro revenue came from the Nordic region, and their revenue has grown about 124-percent over the past year.

    The Deal

    Although either company could still back out, both have issued statements that they’re looking forward to the sale. Those at Vera&John will remain with the company and members of their sites should not
    notice any difference in the way that they are run. A specific pay scale has been designed that will set the total sale amount at 89.1 million Euros, if Dumarca reaches certain goals through 2016. To start with,
    though, Intertain will make an initial payment of 44.5 million euros in cash, plus deliver 36.5 million euros in common shares. Both companies will need to complete formal negotiations before all aspects of
    the deal are finalized. If all goes as planned, and they gain regulatory approval, the agreement will be complete December 2014.

    Possible Complications

    With both parties giving a green light, it seems the deal should go off without a hitch. However, Dumarca may be in a bit of a legal jam, especially considering where most of their membership lies.
    Lotteritilsynet, the Norwegian gambling regulation agency, is cracking down on what they refer to as “illegal gambling.” It seems that any remote gambling operation, aside from those that are owned
    by the government, are unlawful. Lotteritilsynet recently issued warning letters to numerous well-known and trusted entities, including Unibet, PokerStars, Betsafe, and Ladbrokes, directing them to
    cease activities within their jurisdiction. Furthermore, they made a formal request to Facebook, that pages of illegal operations be shut down. The social network appears to have complied. These actions
    have caused Ladbrokes to close their sites to members in Switzerland, Hungary and Norway, in an attempt to avoid possible future legal issues. Vera& John is no stranger to legal battles, as it was only a
    year ago that they were targeted by Swiss regulators as well. The online casino posted banner ad that simply stated, “From broke to 112,000 in a few hours,” which highlighted one winner’s story.
    The ad was deemed “misleading” and was pulled.

    By all accounts, this appears to be a win-win situation for all parties involved. Vera&John will continue to grow and will be able to continue serving their members in the manner to which they’ve become
    accustomed. Intertain will add another booming business to their portfolio in their journey to corner the market through acquisitions. The Internet is abuzz with talk of how this is the optimal time to get
    in on stocks, expecting large return on investment. If Vera&Johnis forced out of the Nordic region, certainly aligning itself with a giant like Intertain will give them the best possible advantage in setting
    up shop elsewhere.
    Goldharry, Kotsy, Ellis and 1 other person like this.
  2. Mike

    Mike Administrator Staff Member

    At least they have been sold to a very good Online Casino! InterCasino is one of the first Online Casinos what is running from the beginning!
    Goldharry and Marina like this.
  3. Ardilla

    Ardilla Well-Known Member

    I really hope so.
  4. Marina

    Marina Administrator Staff Member

    We have also received an email from the affiliate program for VeraJohn.
    Also there they state clearly, "business as usual" .

    We will see what the future brings :)
    Mike and Ellis like this.
  5. Ellis

    Ellis Well-Known Member

    Yeah you never know what happens. But as Mike said, they are great and it hope it brings VeraJohn to the next level.
    Marina and Mike like this.
  6. Kotsy

    Kotsy Well-Known Member

    Very interesting. Can't wait to see what the future brings. I'm hoping it's going to be one of the biggest online business ventures out their.
    They opportunity for the merger is astounding and if they do it right, it will be a grand accomplishment for both the players and the casino.
    Fingers crossed for the positive for this one.
    Goldharry, Marina and Mike like this.

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