Intertain posts rare profit, considers takeover bids and possible move to Europe

Canadian online gambling operator Intertain Group turned in a record performance in Q1, leading management to consider a possible corporate move to Europe.

For the three months ending March 31, Intertain reported revenue quadrupling to C$128.5m (US $100m) and net income of $10m versus a $26m loss in Q1 2015. Intertain projects FY16 revenue to come in between $460m-$500m and net income between $140m-$160m.

Intertain reported strong revenue growth across all its recently acquired operations, with online bingo brand Jackpotjoy up 20% year-on-year to $87.4m, online casino brand Vera&John up 53% to $25.3m and bingo brand Mandalay up 9% to $11.4m.

Since the quarter ended, Intertain migrated and relaunched its shuttered InterCasino brand on the new proprietary Plain Gaming platform, which is currently integrated with over 30 game providers and powers the B2B brand Finlandia Casino.