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Intertain Releases Strong Preliminary Third Quarter Financial Results
The Intertain Group Limited (" ") (TSX:IT), the largest online bingo-led operator in the world, today announced its preliminary financial results for the three and nine months ended September 30, 2016 . Intertain also confirmed its full year financial guidance for 2016. All amounts are stated in Canadian dollars unless otherwise noted.
Intertain currently expects to report the following:
Andrew McIver , Intertain's President and CEO, noted "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."
Mr. McIver continued, "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.
We are working hard to complete the listing of the ordinary shares of Jackpotjoy plc in London, England and these strong preliminary results also support our continued belief in our UK-centred strategic initiatives, including the London listing."
Intertain confirms its 2016 full year financial guidance on:
(together, the " ") for the quarter ended September 30, 2016 , with no changes to the ranges provided nor any material changes to the business performance assumptions used to determine the Guidance. The Guidance was initially provided in Intertain's earnings release on March 9, 2016
Intertain notes that the Guidance was expressed in Canadian dollars and prepared based on a USD/CAD exchange rate of 1.33, a GBP/CAD exchange rate of 1.90, and a EUR/CAD exchange rate of 1.46, each as of March 7, 2016 . As at the close of trading on November 4, 2016 , the USD/CAD exchange rate was 1.34, the GBP/CAD exchange rate was 1.67, and the EUR/CAD exchange rate was 1.48. As such, Intertain expects that its annual financial results (reported in Canadian dollars) will trend towards the lower end of the range provided in the Guidance. The Guidance represents forward-looking information and users are cautioned that actual results may vary.
Intertain will release its financial statements, notes to the financial statements and MD&A for the three and nine months ended September 30, 2016 after the close of trading on November 14, 2016 and these will be made available under Intertain's profile on SEDAR at http://www.sedar.com, as well as on Intertain's website at http://www.intertain.com.
Intertain will host the related earnings conference call with members of the investment community to discuss its third quarter 2016 financial results on November 15, 2016 at 8:00 a.m. ( Toronto time). A question-and-answer session will follow the presentation.
To participate, interested parties are asked to dial (647) 427-7450, 1 (888) 231-8191 ( North America ) or 0 800 051 7107 (UK), 10 minutes prior to the scheduled start of the call. A replay of the conference call will be available until November 29, 2016 by dialing 1 (855) 859-2056 or (416) 849-0833 and using the password 10096468. A transcript will also be made available on Intertain's website.
Intertain defines "Gaming Revenue" as net revenue plus affiliate revenue, each as detailed in Intertain's audited consolidated financial statements for the year ended December 31, 2015 . "Average Active Customers per Month" is defined by Intertain as being the active users per month, averaged over a three-month quarterly period.
Intertain is an online gaming company that provides entertainment to a global consumer base. Intertain currently offers bingo and casino games to its customers using the InterCasino (http://www.intercasino.com), Costa (http://www.costabingo.com), Vera&John (http://www.verajohn.com), Jackpotjoy (http://www.jackpotjoy.com), Starspins (http://www.starspins.com) and Botemania (http://www.botemania.es) brands. For more information about Intertain, please visit http://www.Intertain.com.
References
These expected results are based on management's review of Intertain's operations and performance for the quarter and nine months ended September 30, 2016 . They do not include all results expected to be reported, and are subject to completion of Intertain's customary quarterly review procedures.
These are non-IFRS financial measures. For additional details, including with respect to the relevant reconciliations for these non-IFRS financial measures, see Intertain's MD&A for the three and nine months ended September 30, 2016 , which Intertain will release after the close of trading on November 14, 2016 .
Media Contact:
Investor and Media Contact: General: Amanda Brewer , Vice President, Corporate Communications, The Intertain Group Limited, Tel: +1-416-720-8150, abrewer@intertain.com
UK media: Finsbury, James Leviton , Andy Parnis , Tel: +44-207-251-3801
North American media: Kingsdale Shareholder Services, Ian Robertson , Executive Vice President, Communication Strategy, Tel: +1-416-867-2333, Mobile: +1-647-621-2646, irobertson@kingsdaleshareholder.com