Vera & John Partners with Leander and Quickspin

Vera and John's recent partnerships with Leander and Quickspin among others has been perceived as the efforts of an already dominant iGaming company getting stronger.

Intertain Role in Vera and John Positioning

However, not long ago Vera and John recently had to be rescued for adaptation and expansion as a strategic acquisition they represented for Canada's Intertain.

The financial impact of Intertain's acquisition of Vera and John has enormous and significant ramifications behind the scenes for stakeholders, and is the catalyst for all the deals you see Vera and John making today.

The Original Acquisition

The original blockbuster deal to acquire the games provider for $126.1 million is a huge step for Vera and John, which has facilitated new lucrative and expansive deals such as the one between Vera and John partnerships with Leander and Quickspin.

First off, Vera and John were acquired by Intertain on a debt-free basis, meaning that

the deal enabled Intertain to fund the cash portion of the consideration through a combination of cash-on-hand, and debt. The deal was constructed to relieve Vera and John of debt, so that Intertain as purchaser would receive proceeds against the value of the deal through the exercise of Vera and John's outstanding warrants, counting as credit against the debt for the acquisition as well as the cash payments.

Vera and John's leading mobile platform was a valued asset which Intertain sought to turn around by integrating the acquisition with other partners and new holdings. Intertain also gained a fully integrated online casino provider, active in 11 countries, offering 800 games with approximately 490,000 registered customers, and holding their own independent proprietary software.

Summing It Up

Intertain recognized an expandable entity, and rescued the company from short term regional financial issues that were bogging down its operations. The Vera and John deals with Leander and Quickspin enable Leander to integrate its LeGa open games platform with Vera and John. This in turn enables Leander to strengthen its own client portfolio along with earlier deals struck with other leading gaming providers Full Tilt and Paddy Power in a series of partnerships that will play a significant role in integrating competition in the iGaming industry.