Vera&John Casino possibly sold to Intertain Group

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Marina

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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.
 

Mike

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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!
 

Marina

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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 :)
 
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Kotsy

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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.
 

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