Losses Reduced At Intertain

LOSSES REDUCED AT INTERTAIN

11th August, 2016 at 20:52:18
Source: http://www.azonlinecasinos.com

Canadian online gambling group enjoys a better second quarter

The Canadian online gambling operator Intertain has posted an improved second quarter on a year-on-year basis, reducing losses by 44% to Cdn$27.5 million, boosting revenue by 22% to Cdn$ 118.8 million and generating an adjusted EBITDA up 34% to Cdn$43.4 million.

A positive performance by the Jackpot Joy subsidiary is credited for much of the improvement, where mobile revenues reached record levels and comprised 47% of Jackpot Joy revenue of Cdn$ 82.3 million, a year-on-year rise of 19 percent.

Changes to management in the quarter included a new CEO (Andy McIver formerly of Sportingbet) and chairman Neil Goulden (a former senior Gala Coral exec)

In his report to shareholders McIver noted the company's intention to focus on UK-market oriented initiatives, and revealed that a significant investment in marketing has been made in order to drive future growth.

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