Intertain narrows losses to CAD $27.5 million as company seeks London listing

Andrew McIver
Andrew McIver

Presenting its Q2 2016 results (period ending 30 June), Toronto TSX-listed igaming operator Intertain Group (Intertain) has reported revenue growth throughout all its core brands’ Jackpotjoy, Vera&John and Mandalay.

The igaming operator closes its Q2 2016, recording total group revenues of CAD $118 million (£70 million) up 22% on corresponding Q2 2015 CAD $97 million. Intertain revenue growth would transmit to increase period EBITDA of CAD $43 million (£25 million).

The firm’s improved top-line metric results would see it narrow its operating losses by 44% to CAD $27.5 million (£16 million).

Detailing performance drivers, Intertain governance were pleased that the company had recorded ‘organic growth’ across its brands, with Jackpotjoy generated revenues of $82.3 million in Q2 2016, representing 19% growth year over year on a pro forma constant currency basis.

Presenting his first set of Interim results as Intertain CEO Andrew McIver , commented on corporate performance:

“Intertain had a strong second quarter, with all business segments improving on their results from the same period last year,”

“The Company continues to realize significant gains from organic growth, with revenues up 22% from Q2 2015. We’ve also made a substantial investment in marketing in order to drive growth over future quarters. Increasing shareholder value remains my key objective, and all efforts going forward will be focused on positioning the Company for long-term growth and success.”

Updating investors, Intertain governance detailed that the company will continue its pursuit of implementing ‘comprehensive UK-centred initiatives’, with the firm targeting a London Stock Exchange listing.

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