Intertain boosted by acquisitions despite net loss

Online gambling company the Intertain Group has cited its ongoing acquisition strategy as a key platform for growth after revealing increasing net losses for 2014.

Revenue for the full-year totalled CAN$40.8 million (€30.2 million/UA$32.2 million), while adjusted earnings before interest, tax, depreciation and amortisation amounted to CAN$20.1 million.

Intertain also revealed that adjusted net income for the full-year came in at CAN$16.6 million.

However, the company also noted that it suffered a net loss of CAN$26.1 million in the past year following a loss of just over CAN$1 million in the previous year.

John Kennedy FitzGerald, president and chief executive officer of Intertain, said he was “very pleased” with the company’s performance in what was an “extremely busy year”.

“We owe our 2014 results to the ongoing successful implementation of our organic and acquisitive strategy on the road to becoming the world’s largest online gaming operator focused on the female demographic,” FitzGerald said.

“I am especially satisfied with Intertain’s position as one of the largest online gaming companies with the highest percentage of revenue from regulated jurisdictions.”

“2015 comes with great opportunity for Intertain, as we announced the acquisition of the Jackpotjoy, Starspins and Botemania brands from Gamesys and entered into a long‐term partnership with them to launch the business globally.

“This is an historic period for our company and I feel privileged to be at the helm as we create something truly special.”

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