Acquisition strategy pays off for Intertain
CEO John FitzGerald says firm is "on the road" to becoming world's largest female-focused online gaming operator as FY 2014 revenues top $40m
The Intertain Group last night reported full-year 2014 net revenues of CA$40.8m driven by the three major acquisitions the Toronto-based firm completed during the year.
Intertain, which rebranded its InterCasino business back in January, said revenues consisted of $22m from InterCasino, $17.2m from Mandalay Media, and $1.6m from Vera&John.
The group posted adjusted EBITDA of $20m during the 12 months ended 31 December 2014, but recorded an overall loss of $26.m as acquisition costs topped $19m and marketing spend rose to $11m.
Intertain CEO John FitzGerald said 2014 had been a busy year for the company and that he was pleased with the group’s trading position and overall progress achieved.
“We owe our 2014 results to the ongoing successful implementation of our organic and acquisitive strategy on the road to becoming the world’s largest online gaming operator focused on the female demographic.
“I am especially satisfied with Intertain’s position as one of the largest online gaming companies with the highest percentage of revenue from regulated jurisdictions,” he added.
Intertain said that had its newly acquired businesses contributed to bottom line for the full 12 months, InterCasino would have generated $22m, Mandalay Media $35m and Vera&John $54m.
And the firm is positioned for substantial revenue growth in 2015 after completing its £425m acquisition of the Jackpotjoy, Botemania, and Starspins brands from Gamesys last month.