Intertain initiates share buy-back

Canadian online gaming firm Intertain Group Limited will make a normal course issuer bid (NCIB) to purchase and cancel up to 3,617,740 or 5 percent of common shares over the next year saying the current share price does not reflect the underlying value of the company.

“Alongside our shareholders, Intertain has built a very profitable business – a company with one of the highest rates of regulated revenue globally in the online gaming space,” commented John Kennedy FitzGerald, president and chief executive officer of Intertain.

“For that we are extremely thankful. Given, however, where our share price is today, management and our Board are of the strong view that the best investment available to the Company at this time is its own equity.”

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