JackpotJoy - Exciting Times Ahead!Wednesday, May 10, 2017 13:51
Listing On The LSE
Formerly under the ownership of Canadian-based Intertain Group, the Toronto Stock Exchange-listed firm prepared for a drastic migration to the UK. It was a brave and far-reaching business move, with the firm relocating headquarters to London and JackpotJoy becoming the parent company (formerly Toronto Stock Exchange-listed Intertain Group). After announcing these stunning late last year, JackpotJoy plc listed on the London Stock Exchange (LSE) on January 25th, 2017. UK political turmoil, with the controversial Brexit vote, didn’t halt its trans-Atlantic plans with the firm recognising the need to be closer to its main market in Europe. A calculated gamble befitting of an online casino firm, and one that is already showing very positive signs.
Promising Signs for the Future
In March of this year, the company announced encouraging growth figures following its listing on the London Stock Exchange, despite the turbulence that comes with such a venture. Revenue growth of 15% and an adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) of 19% underline strong performance financially, boosted by a record £83m operating cash flow. Further growth is expected as the company settles into its new surroundings and exploits future opportunities the migration promises to deliver.
Jackpotjoy Leading The Way
The company’s largest brand, online casino JackpotJoy, has reported growth of 17%. These important results are particularly impressive given the ever-growing value of the online casino market (forecast to be worth circa €12 billion by 2018). Indeed, this particular market has grown by 10% since 2014 and JackpotJoy finds itself ideally positioned as the world’s leading online bingo operator. Moving HQ to London, JackpotJoy is geographically poised to strengthen its current position on the market. The world’s leading online bingo operator, endorsed by legendary British soap actress Barbara Windsor, represents a crucial asset to JackpotJoy plc, highlighted by the renaming and repositioning of the firm.
Exciting Future Plans
Further expansion is firmly in the plans of JackpotJoy, particularly in the thriving and ever-growing online gaming market. The company has outlaid plans to exploit this phenomenon by improving its current accessibility to customers via the continuous growth and innovation of mobile devices. The company also aims to expand the demographic of its customer base, with JackpotJoy appointing British advertising firm The Corner to manage its UK account. Having previously worked Isobel, it is hoped this switch will increase brand awareness and attract new customers.
Moreover, the firm is looking to take advantage of current regulations in the online gaming industry that are opening up more markets. With massive steps forward in recent years, online gaming is expected to continue to grow at high rates, and the market represents exciting opportunities for the online casino company. CEO Andy McIver has also stated that corporate governance remains a key priority and one that has seen a major reshuffle at the top table. The company has a clear vision of its future direction, a vision that may put online casino JackpotJoy in a league of its own.
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