Intertain to focus on further expansion after Q2 growth

John Kennedy Fitzgerald, president and chief executive of the Intertain Group has said the online gambling company is to focus on expansion into new markets after the firm’s ongoing acquisition strategy boosted its financial performance during the three months through to June 30.

Revenue in the second quarter amounted to $95.2 million (€83.4 million), up from just $5.7 million in the corresponding period last year.

Adjusted earnings before interest, tax, depreciation and amortisation jumped from $2.9 million last year to $32.8 million in the second quarter of 2015, while adjusted net income hiked from $2.3 million to $24.6 million.

Basic adjusted net income per share grew from $0.17 to $ 0.17 to $0.36, while diluted adjusted net income per share differed slightly at $0.34, up from $0.16.

The results come after a number of acquisitions by Intertain during the period.

In April, the company completed the acquisition of certain assets of Gamesys for £370 million, including the Jackpotjoy operations, as well as taking rights to bingo software source code from Parlay.

“Upon the successful completion of the Jackpotjoy Acquisition in Q2 we immediately turned our attention to expanding our assets in regulated markets,” Fitzgerald said.

“On that point and thanks to our diligent work, we were the first licensed operator to legally launch slots in Spain through our Botemania brand.

“We also completed the acquisition of bingo software source code that will allow Vera&John to integrate a bingo platform and introduce additional side games into its existing platform.”

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