Intertain Shares Spike After Going Public
The online gambling company, Intertain Group Ltd. went public earlier this year in February. Since this change, the Intertain shares have spiked after going public. It looks as if this trend will continue, and was not simply a one time happening after the company went public.
Intertain Group has Big Expansion Plans
With the online gambling market growing, the Intertain Group has begun to move ahead with big expansion plans. The company is based in Toronto, and is perhaps better known by its brands, InterCasino and InterPoker. These online gaming brands have shown massive growth since the company went public in February. Shares had begun at $4 when the company went public and have now climbed to more than 200% of that value. The company went public after it had acquired InterCasino from the well known Amaya Gaming Group Inc.
The company is following a path by which it plans to grow by acquisition. Since it has begun to acquire company's assets, such as those of InterCasino, growth has been quick and clear. Analysts are predicting that the company will continue to grow.
One of the analysts from Clarus Securities, Eyal Ofir, explained: "If you're willing to invest in publicly traded casino operators, you should be willing to invest in an online casino operator like Intertain, which only operates in regulated jurisdictions."
In addition to acquiring InterCasino before going public, the company has made acquisitions since that time too. In June, Intertain bought Mandalay Media, a British online bingo website company. Just this month, the company expanded its horizons into Nordic countries by acquiring the Vera & John online casino operator.
In keeping with its expansion by acquisition policy, the company has said that it has plans to expand Intertain by acquiring two new companies each year. While many companies following a similar route focus their acquisitions on sports and gaming that is usually geared towards men, Intertain has made the decision to focus its acquisitions on gaming companies that are more in line with the demale demographic, such as bingo and slots-focussed gaming sites.
Canadian Company to Expand Elsewhere
While Intertain is a Canadian-based company, for now the plan is to expand in other gambling jurisdictions. Since the Canadian online gambling laws are awaiting further clarification, the company has chosen to expand into gambling jurisdictions that have clear directives regarding online gambling, and hope to expand into Canada once the gambling laws have been clarified.
