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Intertain Attempting to Purchase Vera&John

Malta licensed Vera&John Casino is reportedly in the midst of a purchase attempt by Canadian firm Intertain Group Limited.

Intertain is attempting to acquire the entire capital share of Dumarca Holdings Limited, the parent company of Vera&John. The initial amount being put up will be €44.5 million in cash, and €36.5 million in Intertain common shares. Additional considerations will be paid out if Vera&John reaches certain earnings thresholds in 2015 and 2016.

If all of the objectives are met, Intertain may end up paying out in excess of €89.1 million.

Commenting on the acquisition Intertain CEO John Kennedy FitzGerald said, “Vera&John has developed and owns a fully-integrated, proprietary software offering, giving us future flexibility with respect to our business."

“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. We are very excited about this transaction and feel both parties bring excellent value going forward. “

Vera&John is a Malta casino that offers its services to 11 different countries through the sites Vera&John, Vera&Juan, and Vera&John Social. For its part Intertain offers a series of betting products including InterCasino, Costa, InterPoker, and more.

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NoVera&John Casino80Malta, U.K.
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