Canada’s Intertain Group says it will rebrand as Jackpotjoy once it completes its corporate relocation to the UK.
On Thursday, the Toronto-listed Intertain announced that it would christen its new London-headquartered company as Jackpotjoy PLC, reflecting the name of the company’s popular online bingo brand, which it acquired from Gamesys in 2015.
The change is part of Intertain’s UK Strategic Initiatives, which includes securing a listing on the London Stock Exchange. As most of its business is derived from the UK, Intertain believes UK analysts will be more inclined to talk up the company’s share price, unlike those North American philistines who express grave misgivings about the company’s ability to manage its crushing debt load.
Intertain shareholders will get an opportunity to vote on the plan to break out the U-Hauls at the company’s annual general meeting on Sept. 23. Assuming the vote is favorable, Intertain expects to secure the LSE listing by mid-October (and a passable fake Cockney accent by Christmas).
Intertain also announced that its search for a new CFO to replace Keith Laslop had determined that the right man for the job was, er, Keith Laslop, sort of like how Dick Cheney’s search for George W. Bush’s running mate ultimately concluded that Dick Cheney was the most qualified candidate.
Last month, Intertain released its Q2 earnings report, which showed revenue rising 22% to C$118.8m – of which Jackpotjoy was responsible for $82.3m – yet the company still managed to post a net loss of $27.5m, of which $15.5m was interest on Intertain’s debt.
STRIDE GAMING: “WE’RE #4!”
UK bingo operator Stride Gaming went on its own acquisition spree a while back, and the company says the additions of 8Ball, Netboost Media and Tarco Assets have made it the UK’s fourth largest online bingo operator.
Stride CEO Eitan Boyd said the “exceptional period” of acquisitions had doubled the company’s UK online bingo share to 10% while raising the number of its brands to 105. Boyd said the acquisition spree may continue, in keeping with the company’s aim of becoming “the market leader in the soft gaming vertical of the online gaming industry.”
