Published on January 5, 2015 in Industry News

Vera&JohnIntertain Group Limited closed off 2014 with a bang as their acquisition for Dumarca Holdings PLC, the parent company of popular Vera&John Casino, was finalized. 

After initially revealing their plans to buy Dumarca Holdings in October of 2014, the global online gambling company announced the purchase of the entire issued share capital of Malta-based Dumarca Holdings on the 23rd of December 2014.

The chief executive officer of Intertain Group Limited, John Kennedy FitzGerald, had this to say on the acquisition: “We are very happy to close this transaction and look forward to grow the company both organically and from other potential acquisitions. The cost of capital we are providing through this temporary bridge loan will be the lowest cost of capital within the company, and further demonstrates Intertain management’s commitment to our vision for the company.” 

Dumarca Holdings was purchased for €44.5 million, exclusive of working capital adjustments, plus an approximate 5 million common shares of Intertain. The initial payment was done is cash with an additional bridge loan of approximately C$10 million to ensure a sufficient working capital to fund Dumarca Holdings’ growth.

Director of Dumarca Holdings PLC, Dan Anderson, was eager to share his thoughts on the exciting acquisition. "Working together with Intertain enhances our expertise in existing markets as well as access to new. We have formed a great team within Vera&John, and look forward to leveraging our abilities to drive revenue synergies across the group and increase the value of our material share ownership."