Intertain Group Limited, based in Canada, revealed its preliminary financial results for the third fiscal quarter and for the nine-month period which ended on September 30th, 2016. The company, which is currently the biggest web-based bingo-led operator on a global scale, and operates under licenses granted by the competent regulatory authorities of the UK, Gibraltar, Malta and Spain also confirmed its full-year forecast for 2016.
The President of the company, who is also its Chief Executive Officer, Andrew McIver commented on Intertain’s results, saying that the preliminary financial results came as a proof of the online gaming operator’s successful performance over the period, as well as the high quality of the major business assets of the company.
According to Intertain’s CEO, everyone at the company were giving their best in order to follow and complete all initiatives included in the UK-centred strategy of the online gaming operator, including a London listing.
In its financial report, Intertain revealed its expectations of a 10% increase in its pro forma gaming revenue over 2016 Q3 in comparison to the prior year period, saying that it would amount to $113.5 million. The company also reported than an 18% increase is expected in its gaming revenue generated over the nine months to the end of September, to a total of $357 million.
Intertain also shared its expectations for the group’s operating cash flow in the third quarter. According to its preliminary results, the operating cash flow would be in the range from $30 to $32 million in the third fiscal quarter and between $116 and $118 million in the first nine months of the year.
In addition, there is an expected 11% increase in the number of active customers on a monthly basis. Intertain explained that it expects the active customers base to rise from 208,000 in the quarter ended September 30th, 2015 to 231,000 in the third quarter of 2016.
As already mentioned above, the Canadian online gambling operator also confirmed its annual financial guidance, saying that a total revenue in the range from $460 to $500 million is expected for 2016. In addition, Intertain shared its expectations for its overall adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), saying it would be between $175 and $195 million. On the other hand, the total adjusted net income of the company would probably be from $140 to $160 million.
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Olivia Cole
