Intertain reveals financial growth ahead of UK move
Intertain Group has been handed a financial boost ahead of the implementation of its UK-centred strategic focus.
During the three months to September 30, gaming revenue amounted to $113.6 million (€105.9 million), which represents year-on-year growth of 10% on a constant currency basis.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $43.8 million, up 17% in terms of constant currency, while adjusted net income increased by 25% to $36.3 million.
The results come after Intertain in July revealed plans to relocate its corporate headquarters from Toronto, Canada, to London.
Intertain, which first mooted the move in March, will shift its stock listing to the London Stock Exchange and trade on the Official List of the UK Listing Authority.
Andrew McIver, president and chief executive of Intertain, said: “Intertain’s strong results demonstrate the ongoing popularity of our brands and our continued success in retaining and attracting customers.
“Higher revenue is driven by a stronger performance in all segments in their functional currencies, contributing to an increase in gaming revenue of 10% on a constant currency basis.
“We remain very focused on our efforts to implement the UK-centred strategic initiatives and are working hard together with our advisers to complete the listing of Jackpotjoy’s ordinary shares on the London Stock Exchange.
“Discussions with the UK Listing Authority in this regard are continuing and we will update shareholders as soon as possible on our progress.”
Related article: Intertain to pursue UK-centred initiatives, plans LSE listing