Online Bingo giant Intertain will be Jackpotjoy after Move to UK

In the business world, all intelligent company heads know you have to go where the money is. Apparently, the world’s largest online bingo operator believes the money is in the United Kingdom, not Canada. Intertain Group LTD confirmed its intentions to move its base operations from Toronto to London, where it will re-brand itself as Jackpotjoy.

In a press release announcing a shareholder meeting to discuss the impending move was issued last week. The special, annual meeting will take place September 23, 2016, at the current office in Ontario, Canada. The result of this meeting will determine the future of the company, where shareholders are expected to approve the UK move and subsequent re-branding – a decision the company’s board of directors already consented to.

“After consideration of, among other things, a recommendation of a special committee of independent directors, the advice of its legal advisors and other matters, the Intertain board of directors has unanimously determined that the Arrangement is in the best interests of Intertain and is recommending that Intertain shareholders vote in favour of the Arrangement at the Meeting,” read the press release.

Farewell Canada, UK Here We Come

Intertain has already begun preparations, having obtained the necessary documentation to go ahead with the move, including an interim order from the Ontario Supreme Court of Justice. It’s also initiated the process of getting regulatory approval from UK Strategic Initiatives. Both are crucial procedures in finalizing the agreement between Intertain and Jackpotjoy, the subsidiary from which it will take its new name.

Shareholders were informed that they will have the option of exchanging their current shares in Intertain, presently listed on the Toronto Stock Exchange (TSX, IT:Toronto), for equal value in the company’s upcoming listing on the London Stock Exchange. If all goes as planned, the online bingo and casino operator anticipates the stock listing transition to be completed by “early- to mid-October 2016”.

“We are excited to have reached these important milestones in implementing the UK Strategic Initiatives,” said Neil Goulden, Chairman of the Board for Intertain. “We continue to believe that these initiatives will result in a fuller and more appropriate valuation of our business and that they position Intertain for long-term growth and success.”

Goulden went on to relay the company’s further excitement “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.”

No Change for Online Bingo, Casino Players

Intertain – soon to become UK-based Jackpotjoy – is the proud parent of several major iGaming operations. These include InterCasino, Jackpotjoy, CostaBingo, Vera&John Bingo and Botemania. The countless customers they have registered with these popular casino and bingo sites have nothing to fear when the transition takes place.

The only noticeable changes will take place above ground level – things like licensure, copyright notices, title changes in the terms of services and privacy policy, etc. – and should have no effect on player’s account, logins, passwords, or the software that runs the various websites.