× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2017 AffiliateCon
NEWS 11 August 2016
Revenue up, net loss down for Intertain
By David Cook
The success of Jackpotjoy helped Intertain Group to reduce its losses and improve its total revenue and other income year-on-year in the second quarter of 2016.

Revenue and other income increased 22% to CAD$118.8m (£70.4m) and net loss was cut by 44% to CAD$27.5m.

Adjusted EBITDA ascended 34% to CAD$43.4m.

A highlight for the period was record mobile usage for Jackpotjoy, the online bingo brand Intertain took control over when it purchased Gamesys Group’s customer-facing assets last year.

Jackpotjoy’s revenue from mobile increased to 47% and its overall revenue was CAD$82.3m, up 19% on a pro forma constant currency basis.

Intertain said it plans to “pursue comprehensive UK-centred strategic initiatives.”

The quarter also saw Andrew McIver announced as Intertain’s new CEO, though that was confirmed at the end of June, so we are yet to get a financial reading on the former Sportingbet CEO’s performance.

McIver replaced John Kennedy FitzGerald as part of a change to focus on operational excellence as opposed to asset acquisition.

Neal Goulden, a former CEO of Gala Coral, was revealed to be Intertain’s new chairman at the same time.

McIver did make it clear what the future strategy will be though, when he said: “We’ve made a substantial investment in marketing in order to drive growth over future quarters. Increasing shareholder value remains my key objective.”

RELATED TAGS: Online | Bingo | Financial
DISCUSS THIS ARTICLE
IN-DEPTH 21 February 2018
Blockchain: Better the Devil you know?
The battle of the blockchain rages on. The technology that underpins cryptocurrency has proved deeply divisive, both in the gaming industry and wider financial markets. Up until now blockchain has suffered from a reputation as a tool for circumvention of controls and a platform for the underworld, but could the decentralised and transparent nature of the technology transform the gaming landscape as it promises? We asked two of the world's leading experts on blockchain gaming if it has finally come of age
READ MORE
PREMIUM CONNECTIONS