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Intertain Group's Q2-2015 Earnings Report
Friday August 14,2015 : CANADA'S INTERTAIN ONLINE GAMBLING GROUP REPORTS RISING REVENUES
Second quarter revenues boosted by recently acquired Jackpotjoy web enterprise.
Intertain Group's second quarter revenues soared from Cdn$ 5.6 million in Q2-2014 to Cdn$95.2 million this year, thanks to significant contributions from newly acquired Jackpotjoy online operation, for which the group paid GBP 425.8 million in April
However, costs - mainly in acquisitions - held down earnings as the group's net losses rose from Cdn$ 837,000 last year to Cdn$ 24.5 million in Q2-2015. Taking the costs of acquisitions into consideration, the group's adjusted net income rose from Cdn$ 2.3 million to Cdn$ 24.5 million.
Jackpotjoy, Starspins and Botemania contributed GBP 33 million in gross win to the group performance in the second quarter this year.
Intertain CEO John Kennedy FitzGerald, said that Intertain completed the acquisition of bingo software source code in the quarter, enabling its online casino Vera&John to integrate a bingo platform and introduce additional side games.
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ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
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