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Intertain Group Ltd asks to approve their UK relocation initiative

Intertain Group Ltd asks to approve their UK relocation initiative

Intertain Group Limited, which is a Toronto-listed online bingo and casino provider, has informed about its intention to organise a special meeting of shareholders on the 23rd of September in order to ask to approve their UK-based relocation plan.

Last year the company spent $629.7 million to purchase the UK Internet operations of Gibraltar-located Gamsys Limited comprising the Jackpotjoy online bingo. Now they want to have the full list with the London Stock Exchange and to open the headquarters in London.

The offer of the Toronto-based firm would also make a new London-listed entity Jackpotjoy that will become the parent of other future brands like the recently bought Botemania and Starspins.

“We are excited to have reached these important milestones in implementing the UK strategic initiatives,” told the Chairman of Intertain Group Limited Neil Goulden. “We continue to believe that these initiatives will result in a fuller and more appropriate valuation of our business and that they position Intertain [Group Limited] 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.”

Intertain Group Ltd asks approval of  their UK relocation initiative

The Staff

Goulden is the ex-Chief Executive Officer of the British land-based and online sportsbook provider Gala Coral Group Ltd and came to Intertain Group Ltd in June together with Andrew McIver, who is the ex-boss of London-based Sportingbet and now is the Chief Executive Officer for the Canadian company.

Intertain Group Ltd told that if they receive the approval, they plan to list Jackpotjoy on the London Stock Exchange by early to mid-October with McIver and Goulden together with the existing directors Jim Ryan, Paul Pathak and David Danziger. It is also expected that such pro as Jorgen Nordlund, Colin Sturgeon and Nigel Brewster will provide further guidance as non-executive directors alongside with KeithLaslop as the Chief Financial Officer.

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“Each new director brings a strong finance and management background to Intertain Group Limited with Brewster and Nordlund having held a variety of senior executive positions including in the gaming industry and Sturgeon having held a variety of senior roles in Europe with a prominent commercial and investment bank,” Intertain Group Limited stated.

More than that, according to the plan Noel Hayden, the ex-Chief Executive Officer for Gamesys Ltd, is expected to serve as a “special advisor”.

“We are delighted to have Noel continuing with us as a special advisor,” commented Goulden. “In this role, we will continue to have the benefit of Noel’s valuable insight and contributions on key aspects of our business but without the procedural impediments that result from our close collaboration with Gamesys [Limited], which have restricted his involvement in certain aspects of the board’s deliberations over recent months. Both we and Noel are excited to continue to develop the existing strong relationship between Intertain [Group Limited] and Gamesys [Limited]. We are also excited to have Nigel, Colin and Keith joining the Jackpotjoy board [as] their strong experience in relevant areas will provide us with additional perspective as we continue to build Intertain [Group Limited’s] core assets going forward.”

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