Intertain Online Gambling Group Possible Takeover

Published Friday, March 11, 2016 - Online-Casinos.com
Intertain Online Gambling Group Possible Takeover

Online gambling firms have been known to get bigger and bigger with acquisitions and takeovers being a major part of business growth. Acquisitions and mergers is an essential part of an online gambling company’s expansion plan but the need to be big can be costly and risky for the investor. Competition is good for the consumer but it is bad for operators that must keep ahead of the trends and provide more services.

An example of the interest generated by a merger and acquisition in the online gambling industry is the recent story regarding the Intertain Group Limited which is an online gaming holding company that provides gambling focused entertainment to a global consumer base. In 2014 it acquired the InterCasino brands from a subsidiary of Canadian based Amaya Inc.
This started the firm on an aggressive series of deals to establish the company as a leader in online gambling.

Again in 2014, Intertain acquired Mandalay Media Group which owns some of the United Kingdom’s leading online bingo websites. It also completed the acquisition of Vera&John, a, fully integrated global online casino that operates under three core brands: Vera&John, Vera&Juan, and Vera&John Social.

Then in 2015, Intertain and Gamesys Ltd, the leading online bingo-led business and owner and operator of Jackpotjoy, Starspins, and Botemania, announced they had entered into a binding agreement for the purchase of these brands.

Intertain released its Q4/FY15 numbers in March of 2016, which revealed strong revenue growth across its various online gambling brands. The good news was tainted by the associated costs regarding its acquisitions resulting in net losses rising tenfold to CND $134.4m for the quarter and $227m for the year.

The company has been entertaining the possible takeover of its assets by the “many expressions of interest in acquiring all or material parts of its business” that the board at Interain Group says it has received.

 

 

 

 

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