The Intertain Group Limited
TSX : IT
OTCQX : ITTNF

The Intertain Group Limited

January 11, 2016 07:30 ET

Intertain Updates and Increases 2015 Full Year Financial Guidance

TORONTO, ONTARIO--(Marketwired - Jan. 11, 2016) - The Intertain Group Limited ("Intertain" or the "Company") (TSX:IT)(OTCQX:ITTNF) today announced that it expects to exceed previously reported guidance for its fiscal year ending December 31, 2015.

Intertain's updated guidance is as follows:

  • Total revenue1 of $365M to $375m as compared to the previously reported guidance of $325M to $355M.

  • Total Adjusted Net Income2 of $104M to $109M as compared to the previously reported guidance of $93M to $106M.

  • Diluted Adjusted Net Income Per Share3 of $1.60 to $1.67 as compared to the previously reported guidance of $1.40 to $1.60.
(1) Revenue consists of the difference between total amount wagered by players less all winnings payable to players, less bonus and jackpot contributions.
(2) Adjusted Net Income as defined by the Company means income before share-based compensation, amortization on acquisition related purchase price intangibles, acquisition related costs, foreign exchange, interest accretion, debt settlement expense, fair value adjustments on contingent consideration, and gain on sale of intangible assets. Adjusted net income is a non-IFRS measure. The Company does not provide guidance with respect to IFRS measures other than revenue or provide reconciliations to IFRS of its forward looking non-IFRS financial measure due to the inherent difficulty in quantifying certain amounts that would be required to be included in the IFRS measure of net income (loss) due to their unknown effect, timing and potential significance.
(3) Diluted Adjusted Net Income Per Share means Adjusted Net Income divided by the estimated 65.2 million diluted weighted average number of shares outstanding for the year ended December 31st 2015.

"These changes to our 2015 guidance reflect the solid and consistent growth across our combined businesses," said John Kennedy FitzGerald, President and CEO of Intertain. "The Company continues to generate strong cash flow from operations and we are excited about the future. I want to thank our dedicated team who have helped us to surpass our guidance this year."

About The Intertain Group Limited

Intertain is an online gaming holding company that, through its operating subsidiaries, provides entertainment to global consumer base in which such subsidiaries operate. Intertain currently offers bingo-led gaming and casino to its customers using the InterCasino www.intercasino.com, Costa www.costabingo.com, Vera&John www.verajohn.com, Jackpotjoy www.jackpotjoy.com and jackpotjoy.se, and Botemania www.botemania.es 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
    +1 416 720-8150
    abrewer@intertain.com