Intertain plots aggressive M&A drive
Toronto-based firm in discussions with various acquisition targets as it eyes completing a deal by year end
The Intertain Group says it is pursuing an aggressive acquisition strategy with the Toronto-listed firm hoping to complete at least one more acquisition by the end of the year.
In an exclusive interview with eGaming Review, CEO and president John FitzGerald said Intertain was currently in discussions with around four companies, as it looks to expand into new verticals following its acquisition of Costa Bingo owner Mandalay Media.
“Off the back of the Amaya transaction, I think the investment community has woken up to the idea of online gaming and so access to capital might not have become easier, but there’s more people willing to talk and listen to our ideas,” FitzGerald said.
“It’s allowing us to explore some larger transactions as well,” he added.
Intertain acquired InterCasino owner CryptoLogic from Amaya Gaming earlier this year in a deal worth up to CA$70m with an initial cash consideration of $52.5m and additional payments if revenue targets are met.
The deal preceded the Canadian firm’s first in-roads into the UK bingo market following last month’s buyout of Costa Bingo owner Mandalay Media for £60m.
FitzGerald told eGR Intertain is now in ongoing discussions with a number of social gaming targets, while the company also eyes a move into the Mexican and Central and South American online gambling markets.
“I believe those markets are similar to what the US was 15 years ago and I’m confident that the governments in those countries will head towards regulation as opposed to prohibition,” he said.
“Getting into those markets in its early stages and establishing brands will be a focus for us,” FitzGerald added.