Intertain Rebranding as Jackpotjoy Following Relocation to the UK
The company announced in July that it would move ahead with its plans to relocate its headquarters to the UK despite the results of the Brexit vote in June. The move is part of Intertain’s UK Strategic Initiative, part of which involves securing a listing on the London Stock Exchange and to trade on the official list of the UK Listing Authority.
Intertain is hoping that with the majority of their business derived from the UK, UK analysts will better value the business, in comparison to the US analysts who expressed concern over the company’s ability to manage its debt load.
“We are excited to have reached these important milestones in implementing the UK strategic initiatives,” stated Neil Goulden, chairman of Intertain’s board.
“We 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.”
“We are also 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.”
The company will be rebranding as Jackpotjoy to reflect the name of their popular online bingo brand, which it acquired from Gamesys last year.
Intertain has also announced that CFO Keith Laslop will maintain his position in the rebranded company.
“The board feels Keith is undoubtedly the person for the job,” announced Goulden. “In the short period I have worked with him, I have come to appreciate his deep understanding of our business and industry, his skills and his unwavering commitment to the success of our business.”
March 30, 2017