TORONTO – The Intertain Group Ltd. (TSX:IT) is postponing its annual meeting by three months to give its directors more time to complete a review of the online gaming company’s strategic options.
The review was launched in March after Intertain’s stock plunged by nearly 16 per cent in two days to $9.65 on the Toronto Stock Exchange.
Intertain said at the time, it was the unfortunate victim of a minor and erroneous reference in materials released by Quebec’s security regulator as part of its investigation into another gaming company, Amaya Inc. (TSX:AYA).
Since March 28, Intertain’s stock has rebounded and closed on Friday at $12.74 — giving the company a market value of nearly $900 million.
Intertain now plans to hold its annual shareholders meeting on Sept. 23. It was originally scheduled for June 29.
Intertain currently offers casino-type games such as blackjack and roulette through InterCasino.com and bingo through Costabingo.com. Its other brands include Vera & John and Jackpot Joy.