{"id":39388,"date":"2016-09-08T12:02:30","date_gmt":"2016-09-08T19:02:30","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=39388"},"modified":"2016-09-08T12:02:30","modified_gmt":"2016-09-08T19:02:30","slug":"intertain-launch-london-ipo-rebrand-jackpotjoy","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/","title":{"rendered":"Intertain Launching London IPO, Post-Brexit, and Rebranding as Jackpotjoy"},"content":{"rendered":"
\"Andrew
Intertain CEO Andrew McIver admitted that Brexit had posed \u201ca bit of a problem\u201d to his company\u2019s plans. (Image: calvinayre.com)<\/figcaption><\/figure>\n

Canada\u2019s Intertain Group plans to trade\u00a0on the UK stock market under the name of its online bingo brand, Jackpotjoy. Intertain acquired the Jackpotjoy brandname from Gamesys last year for \u00a3425.8 million ($566 million) and announced its intention to move to London last June.<\/p>\n

The acquisition of Gamesys\u2019 assets made Intertain the largest bingo operator in the world, but it also meant that the vast majority of its customers were now based in the UK.<\/p>\n

The UK market will now provide 70 percent of Intertain’s revenue stream going forward.<\/p>\n

Canada, and the Toronto Stock Exchange<\/a>, was suddenly \u201ca bit of an odd place to be,\u201d according to recently appointed Intertain CEO Andrew McIver, who added that the UK was its \u201cnatural home.\u201d<\/p>\n

Recruiting UK\u00a0Talent<\/b><\/h2>\n

As part of a drive to recruit the best in UK gaming execs, Intertain brought McIver over from Sportingbet and also appointed\u00a0former Gala-Coral boss Neil Goulden as chairman of the board.<\/p>\n

\n

\u201cWe are excited to be taking the UK strategic initiatives to our shareholders at the meeting later this month, and to providing them with an opportunity to consider and approve the arrangement, which is necessary for us to proceed with these proposals,\u201d said Goulden.<\/strong><\/p>\n<\/blockquote>\n

\u201cAccordingly, we will also voluntarily comply with certain investor protection mechanisms as if a UK premium-listed company, ensuring that we now have the right corporate governance structure in place to take the company into its next phase of growth.\u201d<\/p>\n

Brexit Headache<\/b><\/h2>\n

There was talk of an IPO in June, and possibly even a sale, but British voters\u2019 shocking decision to leave the European Union that month put any IPO plans on hold.<\/p>\n

McIver told the UK\u2019s Independent<\/em> newspaper this week that there had been some offers to acquire the company in early summer, but the Brexit vote<\/a>, and the ensuing panic in the financial markets had made it more difficult for suitors to raise debt and equity financing.<\/p>\n

“Brexit\u00a0was a bit of a problem<\/span>,”\u00a0he admitted.<\/p>\n

Undeterred by the whims of the British populace, Intertain has confirmed it will complete its move to the UK, and, once settled, will rebrand as Jackpotjoy. It hopes to be trading\u00a0on the London Stock Exchange in the middle of next month, with a \u00a3430 million ($573 million) capitalization.<\/p>\n

\u201cWe are excited to have reached these important milestones in implementing the UK strategic initiatives,\u201d said Goulden. \u201cWe continue to believe that these initiatives will result in a fuller and more appropriate valuation of our business and that they position Intertain for long-term growth and success.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada\u2019s Intertain Group plans to trade\u00a0on the UK stock market under the name of its online bingo brand, Jackpotjoy. Intertain acquired the Jackpotjoy brandname from Gamesys last year for \u00a3425.8 million ($566 million) and announced its intention to move to London last June. The acquisition of Gamesys\u2019 assets made Intertain the largest bingo operator in […]<\/p>\n","protected":false},"author":42,"featured_media":39391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,19],"tags":[],"acf":[],"yoast_head":"\nIntertain to Launch London IPO and Rebrand as Jackpotjoy<\/title>\n<meta name=\"description\" content=\"Intertain is to float on London Stock Exchange in the middle of next month with a \u00a3430 million capitalization.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Intertain to Launch London IPO and Rebrand as Jackpotjoy\" \/>\n<meta property=\"og:description\" content=\"Intertain is to float on London Stock Exchange in the middle of next month with a \u00a3430 million capitalization.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-08T19:02:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/09\/andrew-mciver-sportingbet-plc-interview-video.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"440\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/\",\"url\":\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/\",\"name\":\"Intertain to Launch London IPO and Rebrand as Jackpotjoy\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/09\/andrew-mciver-sportingbet-plc-interview-video.jpg\",\"datePublished\":\"2016-09-08T19:02:30+00:00\",\"dateModified\":\"2016-09-08T19:02:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Intertain is to float on London Stock Exchange in the middle of next month with a \u00a3430 million capitalization.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/intertain-launch-london-ipo-rebrand-jackpotjoy\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/09\/andrew-mciver-sportingbet-plc-interview-video.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/09\/andrew-mciver-sportingbet-plc-interview-video.jpg\",\"width\":440,\"height\":300,\"caption\":\"Intertain CEO Andrew McIver admitted that Brexit had posed \u201ca bit of a problem\u201d to his company\u2019s plans. 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