Jackpotjoy helps Intertain revenues surge
Strong performance from recently acquired brands with Toronto-listed firm highlighting "substantial organic growth"
Intertain posted Q3 revenues of almost CA$120m (£59.5m) following strong revenue growth from its recently acquired Jackpotjoy brand.
The Toronto-listed firm reported total revenues of CA$119.5m for the three months to 30 September, with Jackpotjoy contributing £40.7m for the quarter, up 21% on last year.
The firm’s Vera&John brand also saw revenue growth of 21% to 12.2m (£8.8m), while the Mandalay and InterCasino brands were up 15% and 9% to £5.4m and US$6.2m (£4m) respectively.
This meant overall revenue growth represented a 772% hike on the same period last year, which came before the firm’s £423m acquisition of Gamesys’ Jackpotjoy, Botemania, and Starspins brands.
Sequentially revenues were up 26% on Q2’s CA$95m (£47m) posted in August.
“Q3 was the first full quarter of operations for Intertain with all four of our business segments working together to demonstrate the cash flow power of our combined company.” John Kennedy FitzGerald, president and CEO of Intertain, said.
FitzGerald said the CA$41.5m operating cash flow the firm generated during the quarter from a CA$43.7m adjusted EBITDA would be used to pay down debt, repurchase stock and fund Jackpotpoy’s earn-out.
He added that the “substantial organic growth” was a result of the firm’s leveraging of corporate and management expertise to optimise performance.