Toronto based igaming operator Intertain Group announced yesterday that it was in ‘advanced discussions’ with an unidentified third party, with a view to complete a ‘significant acquisition of certain assets” worth “in range of CAD $1 billion ($ 806 / £535 million).
The operator had issued a corporate statement to inform the markets, which saw trading suspended on the Toronto listed operator. Intertain Group governance informed the markets that its planned CAD $ billon acquisition had not been finalised by the parties involved. The acquisition deal still needed approval of both companies’ boards.
Industry news sources have speculated that the target company is UK igaming operator Gamesys Group, owners of online bingo brand JackpotJoy.com. Reports suggest that the Canadian operator had been eyeing the acquisition of Gamesys Group throughout 2014, as it looks to expand its services and coverage in the European igaming market.
Intertain Group CEO John Fitzgerald has stated that corporate acquisition will be key element in the company’s growth strategy. The company entered the igaming market in 2013 with the $70 million acquisition of Amaya Gaming’s Wagerlogic operations (InterCasino brand).
In 2014 the company further completed acquisitions of Costa Bingo from Mandalay Media (£60 million) and Nordic based casino operator Vera&John (€90 million).