Intertain Shares Surge Amid Double-digit Q3 Results

Shares of Canadian online gambling operator Intertain was up 26 percent late Monday following preliminary reports of strong gaming revenue in the third quarter of 2016.

The company said its gaming revenue rose 10 percent year-on-year to reach CAD113.5 million (USD84.60 million) in the three-month period ending September 30—a growth that Intertain said reaffirms its UK-centered strategy ahead of its London listing plan.

The Canadian gambling operator’s number of average active customers per month during the quarter climbed 11 percent to 231,000, compared to the same period last year, which totaled 208,000.

“Our strong preliminary financial results speak to the continued performance and high quality of our core business assets, particularly when considered on a constant currency basis,” Andrew McIver, Intertain’s President and CEO, said. “These results also strongly support our contention that the recent pressure on Intertain’s share price is the result of certain market circumstances and is not a reflection of the performance or prospects of the company’s underlying businesses.”

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