Intertain To Become Known As Jackpotjoy
Published on by Becky M.
The Intertain Group will soon become known as Jackpotjoy. The Canadian organisation is moving its corporate headquarters to the UK, in a move that is set to cause ripples across the British stock market.Last Thursday, Intertain declared that their new corporate base in London would be named Jackpotjoy PLC. The name originates from the company’s online bingo division, and is already a well-known brand. Intertain gained ownership of Jackpotjoy online bingo from Gamesys in 2015.
London Stock Exchange
The new brand is part of a progressive strategic approach from Intertain, which incorporates several strands. One of the components of this approach is also gaining a listing on the London Stock Exchange. The majority of Intertain’s custom is from the UK, and it is believed that the move will allow British stock analysts to help drive up the price of their shares.The current shareholders of the organisation are yet to take a vote on the planned changes, but it is expected that they will give the go-ahead. The annual general meeting on 23rd September will be decision day, with a positive outcome resulting in being listed on the London Stock Exchange within the first couple of weeks of October 2016.
Revenue Rising
In other Intertain news, leaders conducted an analysis last month of the Chief Financial Officer position. The results of this study were that the current CFO, Keith Laslop, has been deemed to be the best possible candidate for the role with Intertain as it moves forward.Also last month, the company made their earnings for the second quarter of 2016 public knowledge. Revenue has risen to C$18.8 million, which is an increase of 22%. Jackpotjoy accounted for $82.3 million of that revenue, so it’s not surprising that the bosses are focusing on this brand. There was a loss of $27.5 million, over $15 of which accounted for interest on debt.