Intertain Quarterly Hit By Acquisition Costs

But future looks bright, chief executive says

Canadian online gaming firm Intertain Group reported on its first quarter 2015 results saying while the acquisition of the Jackpotjoy Group had negatively affected results in the short term, the company was excited about long term prospects.
The company delivered an impressive increase in Revenue amounting to C$ 32.8 million compared to C$ 3.1 million during the comparative quarter in 2014.
Other key performance indicators for the first quarter period ending March 31, 2015 include net income (loss) of C$ – 26.1 million (Q1/2014: C$ – 2.5 million) and EBITDA (loss) of C$ -15.3 million (Q1/2014: C$ -1.2 million).
The freshly acquired Jackpotjoy Business comprising Starspins, Botemania and Jackpotjoy brands generated GBP 35.7 million gross win and GBP 13.9 million of EBIT during the period.
"It's been an exciting quarter for Intertain, and our results include a full cycle from our Vera&John acquisition which closed December 23, 2014," commented John Kennedy FitzGerald, president and chief executive officer of Intertain.
"During Q1 we worked tirelessly to close the Jackpotjoy acquisition and feel that we are now in a position, with our assets, to begin executing our global growth strategy, specifically focusing on the female demographic and on regulated markets."

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,449
Casinomeister

Casinomeister

The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
bryan@casinomeister.com

See More Posts