The Intertain Group Limited
TSX : IT

The Intertain Group Limited

June 22, 2015 06:00 ET

Intertain Acquires Rights to Software Source Code from Parlay

Deal Also Includes Bingo.ca Domain and Opportunity to Launch Free-Play Bingo in Canada

TORONTO, ONTARIO--(Marketwired - June 22, 2015) - The Intertain Group Limited ("Intertain" or the "Company") (TSX:IT) announced today that is has acquired rights to the latest bingo software source code ("Source Code") from Parlay (www.parlaygroup.com) as well as the domain name Bingo.ca, for an all cash amount of approximately CDN$2.8 million.

"Intertain has acquired some of the leading bingo brands in the world during the past 12 months and it has been our plan to eventually own a proprietary bingo platform to provide the Company with options and flexibility for our current and future business," said John Kennedy FitzGerald, President and CEO of Intertain. "This deal will immediately enable Vera&John to integrate the bingo platform and additional side games into its existing platform in order to move forward with a bingo offering for its customers."

Parlay's bingo software has powered some of the biggest brands in the gaming industry. As part of the arrangement, Intertain will have access to Parlay's feature-rich back office system, its HTML5 mobile bingo products, and has licensed additional casino, mini and side games, along with direct game integration capabilities into other CRM and content platforms.

In addition, the Bingo.ca domain will provide Intertain with the ability to launch a Canada-wide free-play bingo network in order to showcase its products and bingo expertise to Provincial lottery corporations.

About The Intertain Group Limited

Intertain is an online gaming company that provides entertainment to a global consumer base. Intertain currently offers bingo and casino to its customers using the InterCasino www.intercasino.com, Costa www.costabingo.com, Vera&John www.verajohn.com, and Jackpotjoy and Botemania www.jackpotjoy.com brands. For more information about Intertain please visit www.intertain.com.

Disclaimer in Regards to Forward-Looking Statements and Non-IFRS Financial Measures

Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws, including, without limitation, our statements as to guidance regarding total revenues, total adjusted net income and total adjusted diluted income. The purpose of the guidance provided herein is to enhance our disclosure and assist in understanding our expected and targeted financial results, and this information may not be appropriate for other purposes. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The additional key assumptions that the Company has made in connection with the forward-looking statements is that the Company will be able to successfully integrate and realize the benefits of its completed acquisitions. Investors are cautioned not to put undue reliance on forward-looking statements. Events or circumstances that could cause the actual results to differ materially from those in the forward-looking statements include general economic, business and market conditions, foreign exchange rates, governmental and regulatory actions, including changes in law or in the interpretation of laws relating to online gaming. Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events. Additional information identifying risks and uncertainties is contained in Intertain's filings with the Canadian securities regulators, including its annual information form dated March 31, 2015, available at www.sedar.com.

This release contains non-IFRS financial measures and are noted where used. These financial measures are commonly used to compare companies and management believes they are important measures in evaluating Intertain. However, they are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS. Therefore, they may not be comparable to similar measures presented by other issuers. Investors are cautioned that such measures should not be construed as alternatives to comparable IFRS measures determined in accordance with IFRS.

Contact Information

  • The Intertain Group Limited
    Amanda Brewer
    Vice President, Corporate Communications
    416 720-8150
    abrewer@intertain.com